According to a recent survey commissioned by the Heritage Union Shield salary more than 1 / 3 of Americans have no life - that's over 77 million people in America.
Among the factors that keep people from life after respondents include:
43 percent say that coverage is too expensive
47 percent say the economy is uncertain, their capacity to buy life insurance
On the question of how much life insurance they thought was enough,
respondents offered contrasting amounts:
23 percent said they would need between $ 400,000 and 1 million U.S. dollars.
22 percent believe that 11,001 U.S. dollars to 100,000 U.S. dollars would suffice. The median amount cited was 200,000 U.S. dollars.
What can you do?
Learn more about term life insurance, the most affordable life insurance protection.
Compare free term life insurance quotes from top-rated insurer.
Or, find out how much life insurance you need with a life insurance needs calculator.
Monday, October 27, 2008
Life Insurance Company Ratings are Important to You
If you're shopping for life insurance, you can ask about the safety and security of the purchase of life insurance in today's world, in light of the recent financial crisis by AIG.
It is very important when you shop for life insurance to examine the financial assessment of a company. The higher the rating, the better the carrier should be used to pay its debts.
A recent article in SmartMoney magazine, said that although insurance company failures are rare, there is no such thing as a safe thing.
Most states have life insurance guarantee fund that work as a backstop in case of an insurance company failure.
However, many states have coverage limits of $ 300,000 in life insurance. So, if your policy is for 500,000 U.S. dollars, and you pass, if your insurance company has failed, your family May only 300,000 U.S. dollars.
This means that if your life insurance rating is declining, you can consider another insurance company.
You can check financial ratings of insurance lfie at AM Best
You can compare life insurance online offers that you are familiar with the financial evaluation of the carriers cited to get an idea of how much money you can save by switching to a new life insurance carrier.
Important: - Make sure that you do not terminate an existing life insurance until after you have approved a new, paid, and "In Force".
It is always a good idea to deal with a licensed life insurance agent before you make any changes to your existing life insurance policy.
It is very important when you shop for life insurance to examine the financial assessment of a company. The higher the rating, the better the carrier should be used to pay its debts.
A recent article in SmartMoney magazine, said that although insurance company failures are rare, there is no such thing as a safe thing.
Most states have life insurance guarantee fund that work as a backstop in case of an insurance company failure.
However, many states have coverage limits of $ 300,000 in life insurance. So, if your policy is for 500,000 U.S. dollars, and you pass, if your insurance company has failed, your family May only 300,000 U.S. dollars.
This means that if your life insurance rating is declining, you can consider another insurance company.
You can check financial ratings of insurance lfie at AM Best
You can compare life insurance online offers that you are familiar with the financial evaluation of the carriers cited to get an idea of how much money you can save by switching to a new life insurance carrier.
Important: - Make sure that you do not terminate an existing life insurance until after you have approved a new, paid, and "In Force".
It is always a good idea to deal with a licensed life insurance agent before you make any changes to your existing life insurance policy.
AIG to Exceed Bailout Credit Line
This is an interesting article about the current status of the AIG bailout loans, and what they do with their money from the government.
American International Group Inc. has 90.3 billion U.S. dollars from a U.S. government credit line, since they bailed last month, an amount which exceeds the size of the original loan is meant to save the insurer.
AIG May need more than the 122.8 billion U.S. dollars from now to the New York-based insurer, Chief Executive Edward Liddy said. The company, based on the 16th September at over majority control to the United States in exchange for a $ 85-billion-dollar loan obtained access to an additional 37.8 billion U.S. dollars this month.
AIG's latest balance was revealed Thursday from the New York Federal Reserve, and is up from 82.9 billion U.S. dollars a week ago.
"This underscores the uncertainty for all try to create a series of" on the AIG cash needs, said Bill Bergman, an analyst at Morningstar Inc. in Chicago. The Financial Products unit, that most of the company losses "is a big black hole." Read the whole article.
The interesting part comes later in the article, if the current CEO calls it sell its U.S. life insurance company, among other assets.
American International Group Inc. has 90.3 billion U.S. dollars from a U.S. government credit line, since they bailed last month, an amount which exceeds the size of the original loan is meant to save the insurer.
AIG May need more than the 122.8 billion U.S. dollars from now to the New York-based insurer, Chief Executive Edward Liddy said. The company, based on the 16th September at over majority control to the United States in exchange for a $ 85-billion-dollar loan obtained access to an additional 37.8 billion U.S. dollars this month.
AIG's latest balance was revealed Thursday from the New York Federal Reserve, and is up from 82.9 billion U.S. dollars a week ago.
"This underscores the uncertainty for all try to create a series of" on the AIG cash needs, said Bill Bergman, an analyst at Morningstar Inc. in Chicago. The Financial Products unit, that most of the company losses "is a big black hole." Read the whole article.
The interesting part comes later in the article, if the current CEO calls it sell its U.S. life insurance company, among other assets.
Health insurance premiums in Hawaii outpacing income
WASHINGTON - Health insurance premiums for families to Hawaii for more than three times faster than workers' salaries from 2000 to 2007, according to a study published yesterday.
The Families USA study found that the annual premiums for family health care provided through the workplace in Hawai'i rose to 10,001 U.S. dollars from 6047 U.S. dollars in the period - more than 65 percent.
During the same period, the median salaries of employees rose to 31,252 U.S. dollars from 26,180 U.S. dollars - more than 19 percent, according to the study.
Families USA, a national group that advocates for affordable health care, said Hawai'i families paying an increasing share of their income for health insurance, and in some cases, fewer and fewer of them.
"It's a bigger slice of your family budget," said Kathleen Stoll, deputy executive director for the Washington Group.
The group reported that employers are also dealing with higher premiums, shifting more of the premium costs for workers, and considering health coverage with lower premiums but fewer benefits or higher co-payments.
As a result, the average proportion of the annual premiums paid by workers paid for family coverage has more than doubled to $ 2630 $ 1311 made.
The average cost of Hawai'i employers for family coverage rose to 7,371 U.S. dollars by 4735 U.S. dollars, or around 56 percent.
"The results of the study of the situation in Hawai'i is a mirror image of what happens nationwide has been more than a decade," said Sen. Daniel K. Inouye, D-Hawaii.
Inouye said that is why he has been working for years with Sens. Edward M. Kennedy, D-Mass., And Ron Wyden, D-Ore., The comprehensive health legislation.
Polls show nearly three-quarters of voters nationwide rate health care as a very important issue for the presidential campaign. Families USA said its national report shows why federal leadership and health care reform should be the country No. 1 domestic priority.
Democratic candidate Senator Barack Obama's proposal would subsidize coverage for millions who might not be able to afford healthcare facilities differently. He would also refundable tax credits for small businesses, health plans.
Under his plan, GOP nominee Sen. John McCain would give individuals more control over spending on health care and tax credits to help people buy insurance.
I agree with Senator Obama that health care should be seen as a right, not a privilege, "said Rep. Mazie HIRONO, D-Hawaii." The current health care system in this country is not for patients, doctors, or employers. Changes must be made. "
HIRONO said lawmakers should be examining every option that might be a better, more affordable health care and examine what states and other countries do.
"This is a complex issue and it requires dedicated people to work across party lines to deliver solutions," she said.
The study said that the number of uninsured persons under 65 years in the state is about 100,000, roughly 9.2 percent of the population that the study said. However, the State Department of Human Services, says only 7.5 percent of Hawai'i of people under 65 are uninsured - the lowest rate of uninsurance in the nation.
"Would I say, Hawaii is in better condition than the rest of the nation? Yes," said Stoll.
"Would I say, Hawaii is in a good condition? No. It (health insurance) is still a growing part of the family budget pie."
The study is based on data from the Census Bureau, the Ministry of Labor and the Department of Health and Human Services.
The Families USA study found that the annual premiums for family health care provided through the workplace in Hawai'i rose to 10,001 U.S. dollars from 6047 U.S. dollars in the period - more than 65 percent.
During the same period, the median salaries of employees rose to 31,252 U.S. dollars from 26,180 U.S. dollars - more than 19 percent, according to the study.
Families USA, a national group that advocates for affordable health care, said Hawai'i families paying an increasing share of their income for health insurance, and in some cases, fewer and fewer of them.
"It's a bigger slice of your family budget," said Kathleen Stoll, deputy executive director for the Washington Group.
The group reported that employers are also dealing with higher premiums, shifting more of the premium costs for workers, and considering health coverage with lower premiums but fewer benefits or higher co-payments.
As a result, the average proportion of the annual premiums paid by workers paid for family coverage has more than doubled to $ 2630 $ 1311 made.
The average cost of Hawai'i employers for family coverage rose to 7,371 U.S. dollars by 4735 U.S. dollars, or around 56 percent.
"The results of the study of the situation in Hawai'i is a mirror image of what happens nationwide has been more than a decade," said Sen. Daniel K. Inouye, D-Hawaii.
Inouye said that is why he has been working for years with Sens. Edward M. Kennedy, D-Mass., And Ron Wyden, D-Ore., The comprehensive health legislation.
Polls show nearly three-quarters of voters nationwide rate health care as a very important issue for the presidential campaign. Families USA said its national report shows why federal leadership and health care reform should be the country No. 1 domestic priority.
Democratic candidate Senator Barack Obama's proposal would subsidize coverage for millions who might not be able to afford healthcare facilities differently. He would also refundable tax credits for small businesses, health plans.
Under his plan, GOP nominee Sen. John McCain would give individuals more control over spending on health care and tax credits to help people buy insurance.
I agree with Senator Obama that health care should be seen as a right, not a privilege, "said Rep. Mazie HIRONO, D-Hawaii." The current health care system in this country is not for patients, doctors, or employers. Changes must be made. "
HIRONO said lawmakers should be examining every option that might be a better, more affordable health care and examine what states and other countries do.
"This is a complex issue and it requires dedicated people to work across party lines to deliver solutions," she said.
The study said that the number of uninsured persons under 65 years in the state is about 100,000, roughly 9.2 percent of the population that the study said. However, the State Department of Human Services, says only 7.5 percent of Hawai'i of people under 65 are uninsured - the lowest rate of uninsurance in the nation.
"Would I say, Hawaii is in better condition than the rest of the nation? Yes," said Stoll.
"Would I say, Hawaii is in a good condition? No. It (health insurance) is still a growing part of the family budget pie."
The study is based on data from the Census Bureau, the Ministry of Labor and the Department of Health and Human Services.
Motor insurance premiums expected to rise
A survey on the motor insurance industry has found that 90% of firms expect to increase premiums in 2009. After professional services firm Deloitte findings, 41% of firms expect an increase of up to 5%, with 42 anticipating an increase of between 5% and 10%.
Although insurance companies have shown an increase in profitability, it was the reserves from previous years will be released into profit margins.
Advertising But while the profitability of May to drop, Deloitte said that the ongoing recession May force companies to obtain and maintain reasonable prices and get premiums down.
51% of those who replied to the survey are optimistic about the trading conditions in the next year, with 49% expect such conditions to deteriorate.
Deloitte says this shows the market "somewhat divided" on how things pan in 2009.
Although insurance companies have shown an increase in profitability, it was the reserves from previous years will be released into profit margins.
Advertising But while the profitability of May to drop, Deloitte said that the ongoing recession May force companies to obtain and maintain reasonable prices and get premiums down.
51% of those who replied to the survey are optimistic about the trading conditions in the next year, with 49% expect such conditions to deteriorate.
Deloitte says this shows the market "somewhat divided" on how things pan in 2009.
Health Insurance Premium Outpaced State Earnings
Health insurance premiums for Oklahomans have increased 62 percent over the last eight years, a rise 3.3 times larger than the increase of their earnings, according to a report by Families USA.
“In addition to higher premiums, working families faced higher out-of-pocket health care costs, such as deductibles, copayments, and costs for services that were not covered by their insurance plans,” according to the report. “As a result, health care costs are absorbing an ever-larger portion of family budgets, and it is clear why many Oklahoma families feel worse off economically than they did eight years ago.”
Click here to view the report, which is based on information collected by the U.S. Census Bureau, the Department of Labor, and the Department of Health and Human Services.
The report points out the Oklahoma’s average annual family health insurance premium, paid by employers and employees, went from $6,937 to $11,238, a staggering increase of $4,301.
This is pretty much the story across the country during the last eight years. It’s not surprising the staggering increase came under President George Bush’s administration. Bush and the GOP have done nothing to alleviate the health care crisis in the country. National election polls currently show the GOP will pay a heavy price in the November 4 election for their obvious lack of concern for middle-class families.
Presidential contender Barack Obama has an excellent health care plan that, if passed, would drive down premiums and costs. There is no assurance his plan would pass as proposed, of course, but at least it shifts the current focus from guaranteeing big health insurance companies make money to helping working families obtain adequate and affordable health care. This philosophical change alone will help the vast majority of Oklahomans.
But even as middle-class Oklahoma families struggle to afford health care, it can be easy to forget that those further down the economic ladder, the working poor, face enormous problems accessing health care here.
The Oklahoma Policy Institute, which advocates for Oklahoma’s poor, recently send out an email asking people to help support their efforts to “make Oklahoma a more prosperous, better educated, healthier and more equitable state.” The organization also conducts the best studies related to government policies in the state.
OK Policy asks, “Are you content that one-fifth of Oklahoma's families with children live below the poverty level of $20,650 per year for a family of four? Are you content that only 26 percent of Oklahoma's eighth grade students test as proficient in reading and 33 percent as proficient in math? We suspect you are not, and neither are we.
Right now, according to OK Policy, Kerr Foundation Inc. will match every dollar you donate up to $500. This is an extremely generous offer. Click here to donate.
Older People Pay Higher Car Insurance Premiums
Motor insurance for the elderly begins with the price increase, if the person = 70 hits. Even if you May in good health, warning and with excellent visibility, not everyone is at this age. Many people over 70 serious accidents and a part of the problem is some form of physical limitations. The time when your budget is very limited or eliminated is the time when the prices on the auto insurance increase.
Some of the limitations caused by aging include blurred vision, mobility and occasional lack of awareness in some cases. Reaction time slows down a person gets older and car insurance companies realize this.
There is a large discrepancy between the 70-year-olds when it comes to both the mental and physical health, but unfortunately, insurance companies do not consider this fact. You may receive an invoice that shocks you when you see it, because your car insurance rose dramatically and you do not have any accidents or tickets. It is not your goal, but in your old age. That may help you feel better, but it does not 't help if you want cheap car insurance. There are ways and means to cheaper car insurance for the elderly.
You should start shopping around for insurance before you turn 70th Allow yourself plenty of time to insurance companies if you need to create a better rate. You have to know exactly what level of coverage you have from your new insurer. You should shop around for quotes which include the same amount of coverage that you are currently using. The deck page for your insurance will set all of this information.
With the search for online car insurance quotes, you can make a lot of time, not to mention a lot of money. With only filling out a few forms, you can use many different insurance packages at once. While you could simply with the lowest bid, you should be sure to check the reputation of an insurance company you are thinking of switching to - there are hundreds of companies there, check in every company you do not know, you can Google and check It online with the BBB to see if they have a lot of complaints against them.
You need to look carefully at the coverage that comes with quotation marks. Liability for reporting, there is single coverage and the split cover. It is equally good in single coverage, for example, there may be a ceiling of 100,000 dollars, covering all costs. Split coverage will be something like 50/100/15 - this means that the insurer will pay up to 50,000 dollars per person per incident, up to a ceiling of 100,000 dollars for personal injuries and up to 15,000 dollars for property damage.
Check the deductible on coverage for your car. The higher the deductible the lower the price will be. If the quote shows a higher deductible and lower prices, you may not always bargains, but reduced coverage.
Finally, if you control the rates for car insurance for the elderly, find out how this company handles claims. This is not, whether they pay or not, this should be discovered sooner. Find whether local adjusters, a certain adjuster or do it all by repairing and quotes over the phone. If you are satisfied with the answers, and the price is lower, there is a way of cheap car insurance, no matter what your age.
Some of the limitations caused by aging include blurred vision, mobility and occasional lack of awareness in some cases. Reaction time slows down a person gets older and car insurance companies realize this.
There is a large discrepancy between the 70-year-olds when it comes to both the mental and physical health, but unfortunately, insurance companies do not consider this fact. You may receive an invoice that shocks you when you see it, because your car insurance rose dramatically and you do not have any accidents or tickets. It is not your goal, but in your old age. That may help you feel better, but it does not 't help if you want cheap car insurance. There are ways and means to cheaper car insurance for the elderly.
You should start shopping around for insurance before you turn 70th Allow yourself plenty of time to insurance companies if you need to create a better rate. You have to know exactly what level of coverage you have from your new insurer. You should shop around for quotes which include the same amount of coverage that you are currently using. The deck page for your insurance will set all of this information.
With the search for online car insurance quotes, you can make a lot of time, not to mention a lot of money. With only filling out a few forms, you can use many different insurance packages at once. While you could simply with the lowest bid, you should be sure to check the reputation of an insurance company you are thinking of switching to - there are hundreds of companies there, check in every company you do not know, you can Google and check It online with the BBB to see if they have a lot of complaints against them.
You need to look carefully at the coverage that comes with quotation marks. Liability for reporting, there is single coverage and the split cover. It is equally good in single coverage, for example, there may be a ceiling of 100,000 dollars, covering all costs. Split coverage will be something like 50/100/15 - this means that the insurer will pay up to 50,000 dollars per person per incident, up to a ceiling of 100,000 dollars for personal injuries and up to 15,000 dollars for property damage.
Check the deductible on coverage for your car. The higher the deductible the lower the price will be. If the quote shows a higher deductible and lower prices, you may not always bargains, but reduced coverage.
Finally, if you control the rates for car insurance for the elderly, find out how this company handles claims. This is not, whether they pay or not, this should be discovered sooner. Find whether local adjusters, a certain adjuster or do it all by repairing and quotes over the phone. If you are satisfied with the answers, and the price is lower, there is a way of cheap car insurance, no matter what your age.
Five Ways to Save on Child-Care Costs
The love a parent has for their child knows no bounds. But, unfortunately, the costs of raising a child are almost as boundless.
But parents needn't despair. There are ways to save on child care that doesn't entail bringing your one-year-old to the weekly sales meeting.
Take Advantage of Tax Credits
Uncle Sam can offer cash-strapped parents some relief. The Child and Dependent Care Credit allows working parents to claim up to $3,000 for one child and up to $6,000 for two or more children on their 2008 income taxes for money spent on child care. Just keep in mind that the maximum credit to which you're entitled will be reduced if you use your employer's flexible spending account, says Bob Scharin, senior tax analyst in the Tax & Accounting business of Thomson Reuters. (More on this in the next section.)
Check IRS.gov for more information.
Open a Dependent-Care Flexible-Spending Account
Offered by 96% of employers, according to Hewitt Associates, these accounts function like medical FSAs by allowing workers to set aside pretax dollars -- a maximum of $5,000 -- to pay for child care. Eligible expenses include day-care centers, baby sitters and even day camps. To qualify, your spouse must be working, looking for work or a full-time student.
Remember that the same expenses can't be used for both the tax credit and the FSA, says Mark Luscombe, principal analyst at CCH, a unit of Wolters Kluwer, a tax information provider. For example, if a taxpayer had $8,000 in qualifying expenses for one child, $5,000 could be covered by the FSA and the remaining $3,000 could qualify for the full child and dependent care credit, depending on your income. If a taxpayer had $5,000 in expenses for one child, the costs could be covered entirely by the FSA and no expenses would qualify for the credit.
Seek Employer Discounts
Some large companies negotiate discounts with local child-care centers, says Paige Hobey, author of "The Working Gal's Guide to Babyville." Find out if your company offers any, and if they don't, request they look into it. "Most human resources departments are happy to follow up on something like that -- it's at no cost to them," she says.
Adjust Your Work Schedule
Ask your employer for flex time, suggests Candace Bahr, managing partner of Bahr Financial Group, a wealth-management firm in Carlsbad, Calif. Employees who have the potential for more flexible schedules -- even on a short-term basis -- can divide caretaking by working shifts. One parent works evenings, while the other stays home with the child during the day -- that's more time at home with your child, and less money spent on baby sitters.
Share Care -- and Costs
One increasingly popular way to cut costs is to share a nanny or baby sitter with another family. For the savvy, frugal parent, "share care," as it's sometimes called, is an excellent option, says Genevieve Thiers, founder and CEO of SitterCity, an online database for baby sitters and other caregivers.
Here's an example of how it works: A family that's struggling to pay a nanny $600 a week, teams up with another family that has a child around the same age to share the nanny. Now each family pays $350 a week for the nanny's services, thereby giving the nanny a bump in compensation (she earns $700 a week) and significantly lowering their own costs, says Thiers.
Finding a nanny or sitter who meets both families' needs takes time, though: "It's like three-way matchmaking," says Kathy Webb, president of Homework Solutions, a company that prepares payroll taxes for families that employ nannies and other household workers. Start your search by contacting local parenting groups or visiting local child-care sites like DCUrbanMom in Washington, or Park Slope Parents in Brooklyn. "You'll see whole sections devoted to parents looking for nanny shares that didn't exist a few years ago," she says.
To put the high costs parents face into perspective, consider this: The average monthly cost of care for an infant is higher than the average amount families spent on food each month last year, according to a report by the National Association of Child Care Resource and Referral Agencies. In fact, full-time care for an infant can reach $14,000 a year, says NACCRRA. Factor in the 50-plus packs of diapers and the all-terrain stroller (not to mention the college fund), and you may find that you either need to fire the baby sitter or get a second job to afford it all.
Cutting Your Baby Sitter's Pay
One of the unfortunate fallouts of the financial crisis: Some cash-strapped parents have been forced to give their baby sitter a pay cut. In fact, 36% of baby sitters surveyed by SitterCity reported getting paid less than they were a year ago. It's a sticky situation for parents: While they don't want to upset the person who cares for their precious child, they also want to avoid having to take out a second mortgage. There are ways to break the news to your sitter gently. SitterCity's Thiers offers some tips:Don't do it over the phone or email. Talking about lower hourly rates should be an in-person conversation. Be forthcoming. "We recommend you explain the situation in detail," says Thiers. It might be painful, but the more information you give for the reasons behind the move, the better it will be received.Consider barter. To compensate for lost wages, offer your sitter something that might be valuable to them, like letting them drive your car on the weekends or using your Wi-Fi.
Wednesday, October 15, 2008
Help you to get a lower boat insurance rate
Many people believe that it is best to stick with one insurance company for all of your insurance needs. This can be true in certain instances but not always, which can be especially true for boat insurance.
To get the best rates you will need to do some research and maybe a few other things as well. Knowing the most about insurance and what factors are used to determine an insurance rate is the best way to get the lowest rates possible. There are predatory insurance agents in this world that thrive on ignorance to get people to accept policies that are too inclusive for their needs thereby increasing their commission. This is not an accepted practice by insurance companies but it does happen. Only through education will you be truly protected from such happenings.
First off you should think about taking a boater safety course. Insurance companies will offer discounts to those who complete these courses. This works to protect you and the insurance company. The insurance company knows that people who complete such courses become safer operators of boats thereby decreasing the risk of accident due to the operators error and causing loss for the insurance company. Even if they did not offer a discount a boating safety course is still a good idea especially for the new and inexperienced boater. You never know when something might occur that may require quick thinking.
Secondly you should contact your current insurance company that covers your home and car. Most times these companies will offer deep discounts when insuring other items such as boats. Call or go online and get a quote but do not accept any policy just yet. There is still much to do.
Use the quote you received from your normal insurance company as the base rate then start calling other companies. Tell them up front exactly what your needs are and get the rock bottom quote from them. Continue to do this until you have exhausted all possibilities. Then sit down and compare all of the quotes. It is not necessarily true that the lowest quote will be the best. Some companies offer extremely low rates but coupled with low coverage amounts and services. This may cost you in the long run especially if you need to file a claim and find out that the problem is not covered.
Do not be afraid to ask for a quote that covers all of your insurance needs and not just your boat. You may find that you will save lots and lots of money if you offer to bring all of your business to the company instead of just one thing.
If you are pressed for time you can always go through a multiple covering insurance agency. They will be able to get quotes from several different companies a lot faster than you can. Be sure that the agent is someone that you know you can trust. If not there is the possibility that you will not get the information that you need and only the highest quotes will be given to you in hopes of boosting a commission.
To get the best rates you will need to do some research and maybe a few other things as well. Knowing the most about insurance and what factors are used to determine an insurance rate is the best way to get the lowest rates possible. There are predatory insurance agents in this world that thrive on ignorance to get people to accept policies that are too inclusive for their needs thereby increasing their commission. This is not an accepted practice by insurance companies but it does happen. Only through education will you be truly protected from such happenings.
First off you should think about taking a boater safety course. Insurance companies will offer discounts to those who complete these courses. This works to protect you and the insurance company. The insurance company knows that people who complete such courses become safer operators of boats thereby decreasing the risk of accident due to the operators error and causing loss for the insurance company. Even if they did not offer a discount a boating safety course is still a good idea especially for the new and inexperienced boater. You never know when something might occur that may require quick thinking.
Secondly you should contact your current insurance company that covers your home and car. Most times these companies will offer deep discounts when insuring other items such as boats. Call or go online and get a quote but do not accept any policy just yet. There is still much to do.
Use the quote you received from your normal insurance company as the base rate then start calling other companies. Tell them up front exactly what your needs are and get the rock bottom quote from them. Continue to do this until you have exhausted all possibilities. Then sit down and compare all of the quotes. It is not necessarily true that the lowest quote will be the best. Some companies offer extremely low rates but coupled with low coverage amounts and services. This may cost you in the long run especially if you need to file a claim and find out that the problem is not covered.
Do not be afraid to ask for a quote that covers all of your insurance needs and not just your boat. You may find that you will save lots and lots of money if you offer to bring all of your business to the company instead of just one thing.
If you are pressed for time you can always go through a multiple covering insurance agency. They will be able to get quotes from several different companies a lot faster than you can. Be sure that the agent is someone that you know you can trust. If not there is the possibility that you will not get the information that you need and only the highest quotes will be given to you in hopes of boosting a commission.
Health Insurance Explained
Health is the biggest and most crucial asset of every living being. An unhealthy animal and individual can never truly experience any joy. It is the wealth of health that provides the requisite potential to topple over all odds and to move ahead with life. So such an essential part of a persons life demands extra care and concern. An ideal way to secure an individuals prized possession for him and for those who love him is a health insurance policy.
A health insurance policy is meant to financially assist a person in case there occurs a setback to his health. For instance he is afflicted by some grave disease, meets an accident, becomes handicapped etc. In order to provide complete service and for the all round development of the individual the health care system of America offers ample of options or different types of health insurance for its citizens. Some of these are explained below:
Preferred Provider Organization or PPO is a discount form of health insurance policy. PPO has a complete network of health care providers from hospitals to doctors. If an individual has taken PPO policy and takes treatment from any of these assigned providers, the PPO covers his complete medical treatment. While if the person takes recourse to some other doctor or institution, he gets served at a reduced rate. PPOs thus facilitate medical services at abridged rates.
One immensely cheap form of health insurance is the catastrophic health insurance. This sort of policy is basically meant for the people who have the financial means to manage regular illnesses and hospitalizations. The deductibles i.e. the sum of money an individual for these policies are quite large for this policy. At times there are caps on the amount the policy will pay in case of illness.
A Short term health insurance policy is akin to a life insurance policy in the sense that both can be adopted for a specific tenure. This policy covers catastrophic to comprehensive cases and excludes the situation of pregnancy and childbirth. Quite often it is hard to qualify for these policies as there are strict conditions or qualifying procedures. Moreover these policies may not cover any pre-existing medical conditions.
HMOs or the Health Maintenance Organizations also offer health insurane t significantly lower premiums. But the disadvantage is that they confine the sources a person may seek in non-exigency situations. HMOs do not cover the precautionary measures such as immunization, mammograms and physicals. There are quite a few issues associated with the HMOs. For instance it is believed that doctors receive financial perks for deducting the cost of medical services to patients. One way to do this is to pay monthly fee to the doctor for each patient despite of delving in to the issues of what treatment the latter one needs.
There are also full-service health insurances. The lucrative feature of these policies is that they cover all sort of illnesses, cover any medical treatment the patient takes regardless of the institution or doctor and the deductibles are at the discretion of the policyholder. He may pay a high or a low one.
A health insurance policy is meant to financially assist a person in case there occurs a setback to his health. For instance he is afflicted by some grave disease, meets an accident, becomes handicapped etc. In order to provide complete service and for the all round development of the individual the health care system of America offers ample of options or different types of health insurance for its citizens. Some of these are explained below:
Preferred Provider Organization or PPO is a discount form of health insurance policy. PPO has a complete network of health care providers from hospitals to doctors. If an individual has taken PPO policy and takes treatment from any of these assigned providers, the PPO covers his complete medical treatment. While if the person takes recourse to some other doctor or institution, he gets served at a reduced rate. PPOs thus facilitate medical services at abridged rates.
One immensely cheap form of health insurance is the catastrophic health insurance. This sort of policy is basically meant for the people who have the financial means to manage regular illnesses and hospitalizations. The deductibles i.e. the sum of money an individual for these policies are quite large for this policy. At times there are caps on the amount the policy will pay in case of illness.
A Short term health insurance policy is akin to a life insurance policy in the sense that both can be adopted for a specific tenure. This policy covers catastrophic to comprehensive cases and excludes the situation of pregnancy and childbirth. Quite often it is hard to qualify for these policies as there are strict conditions or qualifying procedures. Moreover these policies may not cover any pre-existing medical conditions.
HMOs or the Health Maintenance Organizations also offer health insurane t significantly lower premiums. But the disadvantage is that they confine the sources a person may seek in non-exigency situations. HMOs do not cover the precautionary measures such as immunization, mammograms and physicals. There are quite a few issues associated with the HMOs. For instance it is believed that doctors receive financial perks for deducting the cost of medical services to patients. One way to do this is to pay monthly fee to the doctor for each patient despite of delving in to the issues of what treatment the latter one needs.
There are also full-service health insurances. The lucrative feature of these policies is that they cover all sort of illnesses, cover any medical treatment the patient takes regardless of the institution or doctor and the deductibles are at the discretion of the policyholder. He may pay a high or a low one.
Money Saving Tips
More and more people are buying life insurance online and the numbers seem to be doubling every two years. The reasons are clear. Prices are lower on the Internet and life insurance is fundamentally a simple insurance product.
Despite the underlying simplicity of life insurance, most web sites channel their online clients through a telephone based help and advice service manned by experienced personnel. They represent your safety net so if a little technical knowledge is called for, help is at hand.
But its always a good idea to have a few Top Tips in your back pocket when youre shopping online for life insurance. Theyll help you ask the right questions and find the best policy.
1. Always have your Life Insurance policy Written in Trust.
This means that in the event of a claim, the money goes directly and immediately to the person(s) you nominate when you first take the policy out. It also avoids all possibility of your estate having to pay Inheritance Tax on the proceeds of your policy and that could represent a 40% tax saving !
All you have to do is tell the online brokerage organising your policy that you want your policy Written in Trust and the names of the people who the life insurance company pay in the event of a claim. They will then sort it all out for you. The extra good news is that this service is invariably free of charge. So its a win win situation and there arent many of those around these days !
2. In the early years a Reviewable Life Insurance Policy will be cheaper but a Guaranteed Policy will work out a better buy in the longer term.
With a Guaranteed Policy the insurance company guarantees never to increase your policys premium.
With a Reviewable Policy you agree that your insurance company can review the cost of your policy at regular intervals. But dont be kidded in our experience a review is just another word for a price increase. After all, whos ever heard of an insurance company passing up a chance to charge you more! The review intervals are usually between 2 to 5 years but this does vary between insurance companies. You will find the details of the review intervals on the documents sent to you before you accept the insurance these are called The Key Features Documents.
So, comparing otherwise like for like policies, in the early years the premiums for a Reviewable Policy will undoubtedly be lower than the premiums for a Guaranteed Policy. Thereafter, the premiums for a Reviewable Policy increase eventually catching up with and overtaking, the premium for a Guaranteed Policy.
In our experience, you can expect the monthly premiums for a Reviewable Policy to exceed those of a Guaranteed policy in about 7 to 10 years and then within the following 10 years, more than double again. If your budget is currently tight then by all means choose a Reviewable Policy - after all your salary may increase in coming years and ease the strain. On the other hand, if the premiums for a Guaranteed Policy are affordable, we think they represent your best buy.
A footnote. Many insurance companies have stopped offering Guaranteed rates for standalone critical illness insurance policies. This because they have experienced much higher claim rates than they initially expected. However, you may still find a Guaranteed life insurance policy that also provides critical illness cover. As we have explained, Guaranteed rates are especially good value and if you can get a quote for a Guaranteed life policy that includes critical illness cover, you may have a real bargain.
3. Thinking about a Joint Life Insurance Policy?
A Joint Life Insurance policy is usually written on a first death basis. This means that the policy will pay out on the death of the first policyholder, subject to the policy being in force at the time. This leaves the second person uninsured and older. Older people can struggle to get life insurance at an affordable premium, so rather than a Joint Policy consider taking out separate policies now. Overall it will work out a little dearer - but you get twice the cover and double the peace of mind.
4. Taking out a Life Insurance Policy? Now would be an ideal time to include Critical Illness cover.
Are you likely to need Critical Illness Insurance in the future? Yes? Then consider adding it now to the life insurance policy youre arranging. Why? There are three reasons.
Firstly, a Life Insurance policy combined with Critical Illness cover will work out significantly cheaper than buying two separate policies. Secondly, as we have already explained in the footnote to Tip 2, you may be able to buy a combined Life and Critical Illness policy with a guaranteed premium. That could be a real bargain. Finally, premiums for critical illness cover increase rapidly as you get older so the sooner you take it out, the cheaper it will be.
5. Dont confuse Terminal Illness cover with Critical Illness cover.
Theres world of difference between Terminal Illness and Critical Illness cover so its important to understand the difference.
Terminal Illness cover pays out the insured lump sum if a Medical Doctor diagnoses you with an illness from which the Doctor expects you to die within 12 months. Most good life policies automatically include Terminal Illness cover at no extra cost. Its basically an early, and welcome policy payout.
A Critical Illness policy pays out the insured lump sum if you are diagnosed with one of a wide range chronic illness and there is no life expectancy criteria. Indeed, with many of the insured illnesses you could expect to survive for many years. For example: certain cancers, heart disease, stroke, multiple sclerosis, loss of speech, sight or hearing, onset of Parkinsons or Alzheimers disease, third degree burns etc. Say you were an engineer aged 40 and you lost your sight. A Critical Illness policy would pay out immediately and that money could well be vital in helping you and your family through many difficult financial years ahead. If you just had Terminal Illness cover thered be no chance of a payout.
Despite the underlying simplicity of life insurance, most web sites channel their online clients through a telephone based help and advice service manned by experienced personnel. They represent your safety net so if a little technical knowledge is called for, help is at hand.
But its always a good idea to have a few Top Tips in your back pocket when youre shopping online for life insurance. Theyll help you ask the right questions and find the best policy.
1. Always have your Life Insurance policy Written in Trust.
This means that in the event of a claim, the money goes directly and immediately to the person(s) you nominate when you first take the policy out. It also avoids all possibility of your estate having to pay Inheritance Tax on the proceeds of your policy and that could represent a 40% tax saving !
All you have to do is tell the online brokerage organising your policy that you want your policy Written in Trust and the names of the people who the life insurance company pay in the event of a claim. They will then sort it all out for you. The extra good news is that this service is invariably free of charge. So its a win win situation and there arent many of those around these days !
2. In the early years a Reviewable Life Insurance Policy will be cheaper but a Guaranteed Policy will work out a better buy in the longer term.
With a Guaranteed Policy the insurance company guarantees never to increase your policys premium.
With a Reviewable Policy you agree that your insurance company can review the cost of your policy at regular intervals. But dont be kidded in our experience a review is just another word for a price increase. After all, whos ever heard of an insurance company passing up a chance to charge you more! The review intervals are usually between 2 to 5 years but this does vary between insurance companies. You will find the details of the review intervals on the documents sent to you before you accept the insurance these are called The Key Features Documents.
So, comparing otherwise like for like policies, in the early years the premiums for a Reviewable Policy will undoubtedly be lower than the premiums for a Guaranteed Policy. Thereafter, the premiums for a Reviewable Policy increase eventually catching up with and overtaking, the premium for a Guaranteed Policy.
In our experience, you can expect the monthly premiums for a Reviewable Policy to exceed those of a Guaranteed policy in about 7 to 10 years and then within the following 10 years, more than double again. If your budget is currently tight then by all means choose a Reviewable Policy - after all your salary may increase in coming years and ease the strain. On the other hand, if the premiums for a Guaranteed Policy are affordable, we think they represent your best buy.
A footnote. Many insurance companies have stopped offering Guaranteed rates for standalone critical illness insurance policies. This because they have experienced much higher claim rates than they initially expected. However, you may still find a Guaranteed life insurance policy that also provides critical illness cover. As we have explained, Guaranteed rates are especially good value and if you can get a quote for a Guaranteed life policy that includes critical illness cover, you may have a real bargain.
3. Thinking about a Joint Life Insurance Policy?
A Joint Life Insurance policy is usually written on a first death basis. This means that the policy will pay out on the death of the first policyholder, subject to the policy being in force at the time. This leaves the second person uninsured and older. Older people can struggle to get life insurance at an affordable premium, so rather than a Joint Policy consider taking out separate policies now. Overall it will work out a little dearer - but you get twice the cover and double the peace of mind.
4. Taking out a Life Insurance Policy? Now would be an ideal time to include Critical Illness cover.
Are you likely to need Critical Illness Insurance in the future? Yes? Then consider adding it now to the life insurance policy youre arranging. Why? There are three reasons.
Firstly, a Life Insurance policy combined with Critical Illness cover will work out significantly cheaper than buying two separate policies. Secondly, as we have already explained in the footnote to Tip 2, you may be able to buy a combined Life and Critical Illness policy with a guaranteed premium. That could be a real bargain. Finally, premiums for critical illness cover increase rapidly as you get older so the sooner you take it out, the cheaper it will be.
5. Dont confuse Terminal Illness cover with Critical Illness cover.
Theres world of difference between Terminal Illness and Critical Illness cover so its important to understand the difference.
Terminal Illness cover pays out the insured lump sum if a Medical Doctor diagnoses you with an illness from which the Doctor expects you to die within 12 months. Most good life policies automatically include Terminal Illness cover at no extra cost. Its basically an early, and welcome policy payout.
A Critical Illness policy pays out the insured lump sum if you are diagnosed with one of a wide range chronic illness and there is no life expectancy criteria. Indeed, with many of the insured illnesses you could expect to survive for many years. For example: certain cancers, heart disease, stroke, multiple sclerosis, loss of speech, sight or hearing, onset of Parkinsons or Alzheimers disease, third degree burns etc. Say you were an engineer aged 40 and you lost your sight. A Critical Illness policy would pay out immediately and that money could well be vital in helping you and your family through many difficult financial years ahead. If you just had Terminal Illness cover thered be no chance of a payout.
Monday, October 13, 2008
Auto Insurance wil rates are rising
If you car for an extended amount of time paid, you may be disappointed to cover the cost of her to see upwards windend. Anyone who is lawfully drive a car wishes must be noted that automobile and automobile insurance premiums applicable to be faced are facts of life. Car of the low cost calls over the installment to be informed you that you are you can afford and the right quantity herleitbare for you.
If you do all this and your self-insurance premiums rise, what happens after that. If this is what happens, you do not feel alone because many people this could be done. If you are looking for a reason why your self-insurance premium has increased, you find that you are at all possible accidents must think that you have been inside. After you in all possible accidents have been involved, you are at a higher risk, for your car to insure your automobile is a higher. The general who thinks in this situation is that you have been an accident and is absolutely fitting, perhaps, in another to be.
The search for the right self-insurance for your situation prompts you to state your driving history. If you have a driving history, all possible traffic violations such as driving fast or covers, stick to alcohol in road, your car will cost more. You must have any other changes in your insurance statistics, as new people also report that your coverage policyís added. If you add another driver or another automotive reach to your car to be set, or if you have any kind of traffic injury or accident, take your car these changes cost revision.
If you try to find that one reason for your self-insurance veranschlägt rise, these types of changes the most common answer to the question. If you find that your self too much in insurance costs increased, you can search for alternative coverage wish, instead, with your original self-insurance to go.
Try the Internet to your advantage to use and a complete research of the on-line guide to insurance sources. Make sure particularly that you are online and checking out all on-line auto insurance quotes go, you get from each source is received.
The various necessities that you need for insurance coverage, must be considered when you try to use self-insurance coverage to be found. The many different sources of automobile insurance coverage, through personal contact and on the Internet, must be fully searched for the best line of auto insurance for you and your family.
The cost of automobile insurance coverage will rise, but this is not surprising to find out because the price of most of our other necessities is also on the increase. The greatest need for a safe and professional drivers is definitely a self-insurance policy.
If you do all this and your self-insurance premiums rise, what happens after that. If this is what happens, you do not feel alone because many people this could be done. If you are looking for a reason why your self-insurance premium has increased, you find that you are at all possible accidents must think that you have been inside. After you in all possible accidents have been involved, you are at a higher risk, for your car to insure your automobile is a higher. The general who thinks in this situation is that you have been an accident and is absolutely fitting, perhaps, in another to be.
The search for the right self-insurance for your situation prompts you to state your driving history. If you have a driving history, all possible traffic violations such as driving fast or covers, stick to alcohol in road, your car will cost more. You must have any other changes in your insurance statistics, as new people also report that your coverage policyís added. If you add another driver or another automotive reach to your car to be set, or if you have any kind of traffic injury or accident, take your car these changes cost revision.
If you try to find that one reason for your self-insurance veranschlägt rise, these types of changes the most common answer to the question. If you find that your self too much in insurance costs increased, you can search for alternative coverage wish, instead, with your original self-insurance to go.
Try the Internet to your advantage to use and a complete research of the on-line guide to insurance sources. Make sure particularly that you are online and checking out all on-line auto insurance quotes go, you get from each source is received.
The various necessities that you need for insurance coverage, must be considered when you try to use self-insurance coverage to be found. The many different sources of automobile insurance coverage, through personal contact and on the Internet, must be fully searched for the best line of auto insurance for you and your family.
The cost of automobile insurance coverage will rise, but this is not surprising to find out because the price of most of our other necessities is also on the increase. The greatest need for a safe and professional drivers is definitely a self-insurance policy.
Insurers: next to be ???
" Due to the very open economy, which we have, a quantity of what happens, on the global market becomes natural of importance for us. See yourselves the kind, how the stock markets have decode. It affects itself the confidence of the investors, which in the long run Spill more over on the confidence of the consumers.
Thus, in a form, although our banks are in a good form and to a large extent shielded nevertheless to feel itself the indirect effects of a global economy slowed down of direct effects they became, become. " The government is from there Tracking of these very closely, and the government is available, in order to see, we can what help, in a kind Design, over both the citizens and enterprises. It is obviously a challenge, because we will need, in order to determine, which are the ranges, in those assistance particularly effectively and of crucial importance. … more If the government bay LED American International Group (AIG) gave, it to few the speech of wide-spread decrease in insurance industry.
AIG became as singular, because it spread less around an important issuing house for a kind of derivatives, far with other insurers.
These derivatives brought AIG to the abyss. But now a wave of losses in motion is in the entire insurance industry, those by the seizure UP of the credit markets and shares in the entire board falls into value. " Insurance companies concentrate on qualitatively high-quality Investitionen" , insurance analyst said Douglas Meyer with Fitch of rating. If the decreases became particularly in the lower quality investments, said he, the industry were relatively protected against damage. Now however, " , influence on the high-quality securities begins the depths of the current credit crisis, so that the beginning of the effects mehr" on the insurance;. Prudential Financial, for, said on Thursday that operational yields from its financial service enterprises would not be no more than in the USA 375 million dollar (S $ 555 millions) in the third quarter, compared to US $ 907 million in the third quarter in the last year. Together with other investments losses, Prudential writes the investments on securities in Lehman Brothers, AIG and Washington Mutual. Prudential, the question its third quarter the result on 29 October, also said, it was a camp for suspension that Buy bake program for the preservation of the capital. For now, analysts do not see insurers in precarious situations. But if the investments of losses hold themselves assembly, it begin the meal away the insurers " Principal one.
Also the insurers with conservative Investment portfolios, like MetLife, are not immune. The investment of losses becomes also a problem for the insurers with large retirement splitting, those above all life assurance companies. They are concerned in the Investment product guarantee that its customers a certain sentence of Hin-und return flight.
Now, the insurers have, by these payments from their fortune reduces. Insurer, whose Business models contain large quantities of short term paper, or other obligations, who soon due, also the risk " erwischt" briefly, if the credit markets remain frozen. If they have, over their obligations, them dumping them in a market with many offerers and nearly no buyers would know the sale of securities, over the liquid means, at the end.
That was, which pleases Yamato life in Japan. But a Japanese official and analyst were to be played fast, the danger for the other insurers in the country. Yamato, small not quoted insurers, had invested in Hedge of find and material Estate investment Trusts (REITs) for the increase of the yields, in glaring contrast to the conservative strategies most Japanese financial establishments has for the 1990er year ate Crash. Fitch, although, lowered their prospects for
Thus, in a form, although our banks are in a good form and to a large extent shielded nevertheless to feel itself the indirect effects of a global economy slowed down of direct effects they became, become. " The government is from there Tracking of these very closely, and the government is available, in order to see, we can what help, in a kind Design, over both the citizens and enterprises. It is obviously a challenge, because we will need, in order to determine, which are the ranges, in those assistance particularly effectively and of crucial importance. … more If the government bay LED American International Group (AIG) gave, it to few the speech of wide-spread decrease in insurance industry.
AIG became as singular, because it spread less around an important issuing house for a kind of derivatives, far with other insurers.
These derivatives brought AIG to the abyss. But now a wave of losses in motion is in the entire insurance industry, those by the seizure UP of the credit markets and shares in the entire board falls into value. " Insurance companies concentrate on qualitatively high-quality Investitionen" , insurance analyst said Douglas Meyer with Fitch of rating. If the decreases became particularly in the lower quality investments, said he, the industry were relatively protected against damage. Now however, " , influence on the high-quality securities begins the depths of the current credit crisis, so that the beginning of the effects mehr" on the insurance;. Prudential Financial, for, said on Thursday that operational yields from its financial service enterprises would not be no more than in the USA 375 million dollar (S $ 555 millions) in the third quarter, compared to US $ 907 million in the third quarter in the last year. Together with other investments losses, Prudential writes the investments on securities in Lehman Brothers, AIG and Washington Mutual. Prudential, the question its third quarter the result on 29 October, also said, it was a camp for suspension that Buy bake program for the preservation of the capital. For now, analysts do not see insurers in precarious situations. But if the investments of losses hold themselves assembly, it begin the meal away the insurers " Principal one.
Also the insurers with conservative Investment portfolios, like MetLife, are not immune. The investment of losses becomes also a problem for the insurers with large retirement splitting, those above all life assurance companies. They are concerned in the Investment product guarantee that its customers a certain sentence of Hin-und return flight.
Now, the insurers have, by these payments from their fortune reduces. Insurer, whose Business models contain large quantities of short term paper, or other obligations, who soon due, also the risk " erwischt" briefly, if the credit markets remain frozen. If they have, over their obligations, them dumping them in a market with many offerers and nearly no buyers would know the sale of securities, over the liquid means, at the end.
That was, which pleases Yamato life in Japan. But a Japanese official and analyst were to be played fast, the danger for the other insurers in the country. Yamato, small not quoted insurers, had invested in Hedge of find and material Estate investment Trusts (REITs) for the increase of the yields, in glaring contrast to the conservative strategies most Japanese financial establishments has for the 1990er year ate Crash. Fitch, although, lowered their prospects for
At Bay Keep Flood Bailouts
The national flood insurance program was established to help communities, the cost of insurance against inevitable surges and flooding to afford, but in many respects, it has only made matters worse.
Sub-market insurance rate sends the wrong signals about the risks of living in flood prone areas and encourage development in dangerous places.
Flood accidents have addressed the underlying program. Meanwhile, taxpayers subsidize people to harm 'to live; s manner and cause damage to the natural resources - wetlands and flood plains - that help protect us against flooding. The flood-insurance-Improvement and Modernization Act has both houses of Congress led, but because of the overwhelming workload of the economic crisis, members have the reconciliation of the two versions of the bill until early next year postponed.
Sens. Christopher Dodd and Richard Shelby, R-Ala., Should continue, to advocate a bill that would help the program 'is to be reduced; s Finanzelende and better share the true risk of flooding to the communities. The Senate bill adopts these critical changes: As the flood insurance program was caused veranschlägt Congress produced lower insurance to the "grandfather" the existing houses built before building regulations were enacted. Today, advertising and vacation properties yet these großväterliche rate in the repeatedly flooded areas and mean that taxpayers bear the burden. The Senate bill would be in the insurance market rate for those properties in phases. Many Americans have no idea that they are behind a reception or a dam until the structure breaks live.
Others believe wrongly that the holders of the dams and the receptions they always keep good repair. The Senate bill also would Bundesnotmanagement Agency 'demand; s maps to the areas that are a result of a reception or Verdammungsausfall would inundate and inform owners about the need to buy flood insurance.
This last June, the Midwest experienced its second "flood" 500-year; in 15 years. Climate change experts ask us, more of the same can be expected. The Senate bill that would tide charts, suppose the planning and development decisions, shows not only what the traditional 100 year flood zone, but also the 500 year flood zone to better communities, helping to prepare for floods. The House version of this bill includes a directive to FEMA so the latest climate science is used when drawing flood maps.
This is a sensible solution, which helps communities, development away from possible danger zones to keep. Local municipalities and the U.S. government have important decisions on how to make good flood damage in an almost undoubtedly Nasser, explosive future in the northeast threshold. In addition to these changes, we must invest in innovative programs to increase the pay so Anrisiko communities from harm 'to move out; s way.
And we need healthy wetlands, flood plains and forests to protect and restore us from the storms abdämpfen. While there is much to our nation exists' to improve work to be done; s flood policy, flood insurance-improvement and modernization Act is a strong first step.
Sub-market insurance rate sends the wrong signals about the risks of living in flood prone areas and encourage development in dangerous places.
Flood accidents have addressed the underlying program. Meanwhile, taxpayers subsidize people to harm 'to live; s manner and cause damage to the natural resources - wetlands and flood plains - that help protect us against flooding. The flood-insurance-Improvement and Modernization Act has both houses of Congress led, but because of the overwhelming workload of the economic crisis, members have the reconciliation of the two versions of the bill until early next year postponed.
Sens. Christopher Dodd and Richard Shelby, R-Ala., Should continue, to advocate a bill that would help the program 'is to be reduced; s Finanzelende and better share the true risk of flooding to the communities. The Senate bill adopts these critical changes: As the flood insurance program was caused veranschlägt Congress produced lower insurance to the "grandfather" the existing houses built before building regulations were enacted. Today, advertising and vacation properties yet these großväterliche rate in the repeatedly flooded areas and mean that taxpayers bear the burden. The Senate bill would be in the insurance market rate for those properties in phases. Many Americans have no idea that they are behind a reception or a dam until the structure breaks live.
Others believe wrongly that the holders of the dams and the receptions they always keep good repair. The Senate bill also would Bundesnotmanagement Agency 'demand; s maps to the areas that are a result of a reception or Verdammungsausfall would inundate and inform owners about the need to buy flood insurance.
This last June, the Midwest experienced its second "flood" 500-year; in 15 years. Climate change experts ask us, more of the same can be expected. The Senate bill that would tide charts, suppose the planning and development decisions, shows not only what the traditional 100 year flood zone, but also the 500 year flood zone to better communities, helping to prepare for floods. The House version of this bill includes a directive to FEMA so the latest climate science is used when drawing flood maps.
This is a sensible solution, which helps communities, development away from possible danger zones to keep. Local municipalities and the U.S. government have important decisions on how to make good flood damage in an almost undoubtedly Nasser, explosive future in the northeast threshold. In addition to these changes, we must invest in innovative programs to increase the pay so Anrisiko communities from harm 'to move out; s way.
And we need healthy wetlands, flood plains and forests to protect and restore us from the storms abdämpfen. While there is much to our nation exists' to improve work to be done; s flood policy, flood insurance-improvement and modernization Act is a strong first step.
Monday, October 6, 2008
Insurance premiums will rise
THIS PAST WEEK, the Office of Personnel Management unveiled the 2009 premiums for health-care plans offered by the Federal Employees Health Benefits Program.
Next year, more than 269 regional health plan options are being made available to approximately 8 million federal workers, retirees and their dependents. In addition, there are 10 nationwide fee-for-service options and 27 High Deductible Health Plans available during the upcoming annual open season.
The open season is an annual event that lets participants choose their health care coverage for the coming year. This year's open season begins Nov. 10 and runs through Dec. 8.
OPM said that the average increase next year will be 7 percent. About 20 percent of enrollees will see their premium share rise by less than 5 percent.
But enrollees in the Blue Cross Standard Option, the most popular choice, will see increases of more than 12 percent.
OPM indicates that the plan increases are due to an older population, the rise of prescription drug prices and patient demand for services.
Here are the 2009 biweekly/monthly premiums for the most popular plans in the Fredericksburg area:
Blue Cross/Blue Shield Standard Self: biweekly, $70.18 (+$8.03); monthly, $152.06 (+$17.40)
Blue Cross/Blue Shield Standard Family: biweekly, $164.58 (+$19.44); monthly, $356.59 (+$42.12)
Blue Cross/Blue Shield Basic Self: biweekly, $42.66 (+$3.53); monthly, $92.44 (+$7.65)
Blue Cross/Blue Shield Basic Family: biweekly, $99.91 (+$8.25); monthly, $216.48 (+$17.87)
GEHA High Self: biweekly, $91.49 (+$0.02); monthly, $198.23 (+$0.04)
GEHA High Family: biweekly, $185.34 (-$0.10); monthly, $401.57 (-$0.022)
GEHA Standard Self: biweekly, $34.27 (-$0.099); monthly, $74.26 (+$2.16)
GEHA Standard Family: biweekly, $77.89 (+$2.27); monthly, $168.77 (+$4.92)
SAMBA High Self: Biweekly, $97.89 (-$10.62); monthly, $212.10 (-$23.01)
SAMBA High Family: biweekly, $244.56 (-$23.26); monthly, $529.88 (-$50.40). SAMBA insurance, previously restricted to FBI employees, is now open to all federal workers and retirees.
AETNA (HMO) High Self: biweekly, $106.18 (+$17.79); monthly, $230.06 (+$38.54)
AETNA (HMO) High Family: biweekly $233.93 (+$40.38); monthly, $506.85 (+$87.49)
AETNA (HMO) Basic Self: biweekly, $42.96 (+$3.78); monthly, $93.09 (+$8.20)
AETNA (HMO) Basic Family: biweekly, $100.54 (+$8.86); monthly, $217.85 (+$19.20)
VA Care First Blue Choice High Self: biweekly, $52.07 (-$9.56); monthly, $112.82 (-$20.72)
VA Care First Blue Choice High Family: biweekly, $116.83 (-$18.81); monthly, $253.13 (-$40.76).
I know that in times of rising fuel and other consumer costs any increase in your health insurance premium is not welcome.
Hopefully, the expected record cost-of-living increase for federal retirees will help offset the 2009 health care or Medicare premium boost.
Likewise, federal workers in our area should see a 2009 pay boost of more than 4 percent to help ease the pinch.
Next year, more than 269 regional health plan options are being made available to approximately 8 million federal workers, retirees and their dependents. In addition, there are 10 nationwide fee-for-service options and 27 High Deductible Health Plans available during the upcoming annual open season.
The open season is an annual event that lets participants choose their health care coverage for the coming year. This year's open season begins Nov. 10 and runs through Dec. 8.
OPM said that the average increase next year will be 7 percent. About 20 percent of enrollees will see their premium share rise by less than 5 percent.
But enrollees in the Blue Cross Standard Option, the most popular choice, will see increases of more than 12 percent.
OPM indicates that the plan increases are due to an older population, the rise of prescription drug prices and patient demand for services.
Here are the 2009 biweekly/monthly premiums for the most popular plans in the Fredericksburg area:
Blue Cross/Blue Shield Standard Self: biweekly, $70.18 (+$8.03); monthly, $152.06 (+$17.40)
Blue Cross/Blue Shield Standard Family: biweekly, $164.58 (+$19.44); monthly, $356.59 (+$42.12)
Blue Cross/Blue Shield Basic Self: biweekly, $42.66 (+$3.53); monthly, $92.44 (+$7.65)
Blue Cross/Blue Shield Basic Family: biweekly, $99.91 (+$8.25); monthly, $216.48 (+$17.87)
GEHA High Self: biweekly, $91.49 (+$0.02); monthly, $198.23 (+$0.04)
GEHA High Family: biweekly, $185.34 (-$0.10); monthly, $401.57 (-$0.022)
GEHA Standard Self: biweekly, $34.27 (-$0.099); monthly, $74.26 (+$2.16)
GEHA Standard Family: biweekly, $77.89 (+$2.27); monthly, $168.77 (+$4.92)
SAMBA High Self: Biweekly, $97.89 (-$10.62); monthly, $212.10 (-$23.01)
SAMBA High Family: biweekly, $244.56 (-$23.26); monthly, $529.88 (-$50.40). SAMBA insurance, previously restricted to FBI employees, is now open to all federal workers and retirees.
AETNA (HMO) High Self: biweekly, $106.18 (+$17.79); monthly, $230.06 (+$38.54)
AETNA (HMO) High Family: biweekly $233.93 (+$40.38); monthly, $506.85 (+$87.49)
AETNA (HMO) Basic Self: biweekly, $42.96 (+$3.78); monthly, $93.09 (+$8.20)
AETNA (HMO) Basic Family: biweekly, $100.54 (+$8.86); monthly, $217.85 (+$19.20)
VA Care First Blue Choice High Self: biweekly, $52.07 (-$9.56); monthly, $112.82 (-$20.72)
VA Care First Blue Choice High Family: biweekly, $116.83 (-$18.81); monthly, $253.13 (-$40.76).
I know that in times of rising fuel and other consumer costs any increase in your health insurance premium is not welcome.
Hopefully, the expected record cost-of-living increase for federal retirees will help offset the 2009 health care or Medicare premium boost.
Likewise, federal workers in our area should see a 2009 pay boost of more than 4 percent to help ease the pinch.
Health insurance premiums set to rise
Premiums for mandatory health insurance in 2009 will cost on average 2.6 per cent more next year, the Federal Health Office announced on Friday.
The exact cost for buying into the country's basic insurance scheme - a requirement for anyone living in Switzerland - depends on factors such as place of residence and age. The increase is the highest in three years.
On average, monthly premiums will cost SFr322.86 ($284.92) per person with a SFr300 deductible. Young adults between 19-25 years old will see the greatest increases of any age group at 4.2 per cent on average.
Geneva residents will see premiums drop by 0.1 per cent on average. Even with the reduction, residents there still pay SFr418.37 a month, the second-highest rate in the country.
Basel city residents can expect to pay the most of all at SFr420.26 a month.
Policyholders have until the end of November to change health insurance companies for 2009.
The exact cost for buying into the country's basic insurance scheme - a requirement for anyone living in Switzerland - depends on factors such as place of residence and age. The increase is the highest in three years.
On average, monthly premiums will cost SFr322.86 ($284.92) per person with a SFr300 deductible. Young adults between 19-25 years old will see the greatest increases of any age group at 4.2 per cent on average.
Geneva residents will see premiums drop by 0.1 per cent on average. Even with the reduction, residents there still pay SFr418.37 a month, the second-highest rate in the country.
Basel city residents can expect to pay the most of all at SFr420.26 a month.
Policyholders have until the end of November to change health insurance companies for 2009.
Electric car owners won't pay higher insurance premiums
Electric car owners in Vancouver won't pay more for insurance than those with conventional vehicles, at least for now, according to the Insurance Corp. of B.C.
Vancouver city council decided this week to permit low-speed electric vehicles on streets with speed limits of 50 km/h or less, becoming the first major city in Canada to do so, following the lead of Oak Bay. Transport Canada has expressed concern about LSVs, which are not required to meet the same safety standards -- such as having air bags and anchored seatbelts -- as regular vehicles.
Transport Canada's Maryse Durette said the agency has done crash tests on LSVs and "the test results to date confirm that low-speed vehicles provide a substantially lower level of occupant protection than conventional passenger cars."
As a result, the agency recommends such vehicles be used only on roads in controlled environments such as gated communities or university campuses -- though provinces have the right to make their own regulations.
Spokesman Adam Grossman said while ICBC is aware of Transport Canada's safety concerns, for now it plans to insure electric cars the same way as conventional vehicles.
That means a new driver using an electric car for personal use, but not for daily commuting, would pay about $1,300 a year for basic and optional insurance -- similar to what ICBC charges someone driving a Honda Fit or Chevrolet Aveo.
So far, Grossman said, ICBC has insured only 21 electric cars in all of B.C., not enough to draw any conclusions about whether the vehicles are any less safe than conventional cars.
As more electric vehicles are insured and ICBC has a chance to study their claim history more closely, premiums could be affected, said Grossman. "If the number of these type of vehicles was to grow significantly, we would be in a position to do a better assessment," he said.
Vancouver city council decided this week to permit low-speed electric vehicles on streets with speed limits of 50 km/h or less, becoming the first major city in Canada to do so, following the lead of Oak Bay. Transport Canada has expressed concern about LSVs, which are not required to meet the same safety standards -- such as having air bags and anchored seatbelts -- as regular vehicles.
Transport Canada's Maryse Durette said the agency has done crash tests on LSVs and "the test results to date confirm that low-speed vehicles provide a substantially lower level of occupant protection than conventional passenger cars."
As a result, the agency recommends such vehicles be used only on roads in controlled environments such as gated communities or university campuses -- though provinces have the right to make their own regulations.
Spokesman Adam Grossman said while ICBC is aware of Transport Canada's safety concerns, for now it plans to insure electric cars the same way as conventional vehicles.
That means a new driver using an electric car for personal use, but not for daily commuting, would pay about $1,300 a year for basic and optional insurance -- similar to what ICBC charges someone driving a Honda Fit or Chevrolet Aveo.
So far, Grossman said, ICBC has insured only 21 electric cars in all of B.C., not enough to draw any conclusions about whether the vehicles are any less safe than conventional cars.
As more electric vehicles are insured and ICBC has a chance to study their claim history more closely, premiums could be affected, said Grossman. "If the number of these type of vehicles was to grow significantly, we would be in a position to do a better assessment," he said.
Auto Insurance Quotes
Auto insurance quotes are only one side of the story. Before you commit to any one auto insurance company based solely on auto insurance quotes – consider the five following thoughts.
1) Auto insurance quotes are only quotes. Quotes are not necessarily the real auto insurance prices you will pay in the end. Don’t switch your auto insurance on a whim – after you’ve seen some handsome auto insurance quotes.
2) When seeking accurate auto insurance quotes – make sure you give information as accurate as possible. After all, the quote will only be as good as the information you’re able to offer the insurance company. Many times, the auto insurance quotes will not be valid – depending on the accuracy of the information you’ve submitted.
3) Watch out for fine print that comes with those lovely auto insurance quotes. Fine print is a fact of life – don’t miss an important detail – only to later discover the details after you’ve changed auto insurance companies. I know it’s hard to resist the auto insurance quotes – but don’t be caught off guard.
4) Don’t let auto insurance quotes be the determining factor in choosing an auto insurance company. You might save a few dollars if you’re able to hold the auto insurance company to that wonderful looking insurance quote – but you might spend the difference in aspirin for the additional headaches caused by the cheaper auto insurance company.
5) Last, if it sounds too good to be true – it probably is. This applies to auto insurance quotes as well as many other aspects of life. Do your homework – use the auto insurance quotes as a tool in conjunction with your other research and be sure to ask the company a lot of questions about those lovely auto insurance quotes.
1) Auto insurance quotes are only quotes. Quotes are not necessarily the real auto insurance prices you will pay in the end. Don’t switch your auto insurance on a whim – after you’ve seen some handsome auto insurance quotes.
2) When seeking accurate auto insurance quotes – make sure you give information as accurate as possible. After all, the quote will only be as good as the information you’re able to offer the insurance company. Many times, the auto insurance quotes will not be valid – depending on the accuracy of the information you’ve submitted.
3) Watch out for fine print that comes with those lovely auto insurance quotes. Fine print is a fact of life – don’t miss an important detail – only to later discover the details after you’ve changed auto insurance companies. I know it’s hard to resist the auto insurance quotes – but don’t be caught off guard.
4) Don’t let auto insurance quotes be the determining factor in choosing an auto insurance company. You might save a few dollars if you’re able to hold the auto insurance company to that wonderful looking insurance quote – but you might spend the difference in aspirin for the additional headaches caused by the cheaper auto insurance company.
5) Last, if it sounds too good to be true – it probably is. This applies to auto insurance quotes as well as many other aspects of life. Do your homework – use the auto insurance quotes as a tool in conjunction with your other research and be sure to ask the company a lot of questions about those lovely auto insurance quotes.
Tuesday, September 9, 2008
Fixed Annuity VS Variable Annuity
What is a fixed annuity?
A fixed annuity combines two of the most important features of a sound retirement plan -- security and predictability -- with the wealth-building power of tax-deferred compounding.
Some of the important features of a fixed annuity are:
A fixed annuity combines two of the most important features of a sound retirement plan -- security and predictability -- with the wealth-building power of tax-deferred compounding.
Some of the important features of a fixed annuity are:
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Tax-deferred compounding of your interest earnings
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Virtually no limit to the amount you can apply toward your purchase payment
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Access to your funds should you need them
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Competitive yields
What is a variable annuity?
A variable annuity allows you to maximize the growth opportunities of stocks, bonds and other securities by deferring any taxation of your potential gains. With a variable annuity, the insurance company offers you a range of portfolios, called sub accounts, which may vary from conservative to aggressive in their investment management style. Often there is also a fixed account option. The fixed account is part of the insurance company's general account. The sub accounts allow you to allocate your investment dollars among an array of portfolios that invest in U.S. and international stocks, bonds and other securities to help you create a portfolio that closely matches your tolerance for risk vs. reward.
What is an annuity?
An annuity is an interest-bearing contract between you and an insurance company in which your money accumulates and compounds, free of current income tax. This tax deferral feature can make annuities an ideal choice for retirement savings. Because you pay no taxes on your accumulated earnings until you actually take money out, your money can grow as much as 30% to 40% faster in an annuity than in a taxable investment earning the same rate of return. There are essentially three types of annuities: fixed, variable and immediate.
What Are Your Chances For Long-term Income Loss?
Unfortunately anyone can get sick or have an accident. Life is unpredictable, but it does allow preparedness. Today now more than ever, lives are saved from premature death caused by accidents or sickness. This causes an increase number of survivors that live on, but with impairments or limitations that mean they can't perform the major duties of their own occupation. In short, they lose their current income, but not their life.
What is disability income protection insurance?
How long do you think you would be able to maintain your present living standards without any income? For just about everyone who works for a living, a sudden loss of income would mean financial stress, and even financial disaster.
Disability income protection is designed to replace the income lost as a result of disability from illness or accident by protecting your earnings and your earning potential - perhaps your most valuable asset.
Disability income protection is designed to replace the income lost as a result of disability from illness or accident by protecting your earnings and your earning potential - perhaps your most valuable asset.
Home Insurance Q&A
What does homeowners insurance cover?
Homeowners insurance provides protection for your home, personal property such as furniture, clothing, appliances as well as personal liability. It protects you from a variety of events: a fire, explosions, lightning, vandalism, burglary, storms, and more.
What's the right amount of insurance for my home?
Your coverage should match the value of your home. Homeowners insurance can not cover the land your home is on, only the structure. That means that the insurance amount could be less than the purchase price or loan amount.
What is replacement coverage?
Replacement coverage is in the event of a loss, the insurance company will pay what it costs to replace the property at the current market prices.
Does my homeowners insurance cover my personal property?
It will also cover the personal property you own as well as the structure. Your clothing, furniture, appliances, and other belongings will usually be insured up to a maximum amount.
What about special items such as artwork, jewelry, etc.?
A homeowners insurance policy will frequently limit coverage on some special items artwork, jewelry, coin collections, etc. Homeowners who need additional coverage for these types of items may purchase additional coverage.
What about flood insurance?
If your property is officially designated as being in a special flood hazard area, you must obtain flood insurance. While the federal government provides most flood protection, you are responsible for applying and obtaining this coverage. It's important to know that flood insurance is not included in a standard homeowners policy. Even if your home is not in a special flood hazard area, you may wish to consider whether you need flood insurance.
Homeowners insurance provides protection for your home, personal property such as furniture, clothing, appliances as well as personal liability. It protects you from a variety of events: a fire, explosions, lightning, vandalism, burglary, storms, and more.
What's the right amount of insurance for my home?
Your coverage should match the value of your home. Homeowners insurance can not cover the land your home is on, only the structure. That means that the insurance amount could be less than the purchase price or loan amount.
What is replacement coverage?
Replacement coverage is in the event of a loss, the insurance company will pay what it costs to replace the property at the current market prices.
Does my homeowners insurance cover my personal property?
It will also cover the personal property you own as well as the structure. Your clothing, furniture, appliances, and other belongings will usually be insured up to a maximum amount.
What about special items such as artwork, jewelry, etc.?
A homeowners insurance policy will frequently limit coverage on some special items artwork, jewelry, coin collections, etc. Homeowners who need additional coverage for these types of items may purchase additional coverage.
What about flood insurance?
If your property is officially designated as being in a special flood hazard area, you must obtain flood insurance. While the federal government provides most flood protection, you are responsible for applying and obtaining this coverage. It's important to know that flood insurance is not included in a standard homeowners policy. Even if your home is not in a special flood hazard area, you may wish to consider whether you need flood insurance.
Auto Insurance Q&A
Why must I list all household members, when they do not drive my car?
Household residents that do not need to be included are non-family household residents who do not drive the vehicle.
What is your definition of an accident?
Accidents include at fault, not at fault, reported and unreported collisions that you as the driver were involved in. Not at fault occurrences where your parked vehicle was damaged in a collision are also considered accidents.
What do I do if I have an auto accident?
When you are in an accident. There are 4 steps to take: First, notify the police. Second, exchange information with the other driver(s) involved in the accident. Third, contact your insurance company as soon as you possibly can. Fourth, do all of the required steps your insurance company asks you to do. For more information about filing a car insurance claim, see our auto resources section.
How can I lower my car insurance premium?
There are a number of things you can do to lower your car insurance. They include, shopping around, asking for discounts on your current policy, holding multiple insurance policies with the same carrier, and raising your deductible. If you would like to get competitive quotes on your auto insurance use our auto insurance quote page.
Household residents that do not need to be included are non-family household residents who do not drive the vehicle.
What is your definition of an accident?
Accidents include at fault, not at fault, reported and unreported collisions that you as the driver were involved in. Not at fault occurrences where your parked vehicle was damaged in a collision are also considered accidents.
What do I do if I have an auto accident?
When you are in an accident. There are 4 steps to take: First, notify the police. Second, exchange information with the other driver(s) involved in the accident. Third, contact your insurance company as soon as you possibly can. Fourth, do all of the required steps your insurance company asks you to do. For more information about filing a car insurance claim, see our auto resources section.
How can I lower my car insurance premium?
There are a number of things you can do to lower your car insurance. They include, shopping around, asking for discounts on your current policy, holding multiple insurance policies with the same carrier, and raising your deductible. If you would like to get competitive quotes on your auto insurance use our auto insurance quote page.
Won't my current health plan cover my long term care, if needed?
No, in most cases it does not. Health plans may cover some of the skilled medical services you may need when you cannot care for yourself after an illness or injury, but usually for a limited period and only as long as you are showing improvement. Health plans typically don't cover ongoing chronic care.
What is long term care?
Long term care is the kind of care that you would need to help you perform daily activities if you had an ongoing illness or disability. It also includes the kind of care you would need if you had a severe cognitive illness like Alzheimer's disease or severe dementia. It is help with all the day to day things that could become difficult to do without assistance, such as eating, bathing, dressing, toileting, etc. This type of care isn't provided in a hospital they only provide acute care. It is chronic care that you might need for the rest of your life.
What are out-of-pocket expenses?
Out-of-pocket expenses include your annual deductible, coinsurance amounts, and any expense deemed not to be "reasonable and customary".
What kind of Life Insurance should I buy?
Probably term, maybe some permanent. There are three factors to consider when purchasing life insurance: the amount purchased, the length of time needed for the coverage and affordability. The most important factor is the amount purchased. You should have the maximum coverage that is needed for protection. If you have less than is needed, when you die, whoever you are trying to protect will suffer a hardship.
How much Insurance should I have?
A simple formula that works is between 5 and 10 times your income. If you can afford 10 times, in our opinion, that is what you should have. If it is needed to protect your business, key person, or buy/sell agreements, then your accountant should be able to tell you.
Why do I need Life Insurance?
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If you are a wage earner and someone depends on you, life insurance is a vehicle to protect the financial well being of that individual.
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During your lifetime you have certain financial goals. Life insurance is a way to achieve those goals for those you leave behind.
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If you are in debt, life insurance is used to protect the person you are indebted to.
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If you are a key person in a company, your loss could mean a real financial loss to that company. Life insurance insures that potential loss.
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If you are a partner in a business, if you were to die, life insurance allows the partner to buy your share of the business from your heirs.
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Life insurance could help pay estate taxes.
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If you have a favorite charity, life insurance can help you give to that charity after you are gone.
Do the included services match my needs ?
What doctors, hospitals, and other medical providers are part of the plan?
Are there enough of the kinds of doctors I want to see?
Where will I go for care? Are these places near where I work or live?
Do I need to get permission before I see a medical specialist?
Are there any limits to how much I must pay in case of a major illness?
Is the prescription medication which I need covered by the plan?
Does the plan cover the expenses of delivering a baby?
Are there enough of the kinds of doctors I want to see?
Where will I go for care? Are these places near where I work or live?
Do I need to get permission before I see a medical specialist?
Are there any limits to how much I must pay in case of a major illness?
Is the prescription medication which I need covered by the plan?
Does the plan cover the expenses of delivering a baby?
How affordable is the cost of health care?
How much will it cost me on a monthly basis?
Should I try to insure just major medical expenses or most of my medical expenses?
Can I afford a policy that at least covers my children?
Are there deductibles I must pay before the insurance begins to help cover my costs?
After I have met the deductible, what part of my costs are paid by the plan?
If I use doctors outside a plan's network,how much more will I pay to get care?
How often do I visit the doctor and how much do I have to pay at each visit?
Should I try to insure just major medical expenses or most of my medical expenses?
Can I afford a policy that at least covers my children?
Are there deductibles I must pay before the insurance begins to help cover my costs?
After I have met the deductible, what part of my costs are paid by the plan?
If I use doctors outside a plan's network,how much more will I pay to get care?
How often do I visit the doctor and how much do I have to pay at each visit?
Tips for selling your home
Set your price carefully
Too high and buyers may not consider it, too low and you're selling yourself short. Realtors often give a free home market analysis if you ask. This gives you an idea of how your home compares financially with similar, recently sold homes in your area. The analysis may also include how much you might expect to earn after closing.
Don't do major remodeling
Don't break the bank preparing your home for sale. Pricey items such as a new roof may be big hits with buyers, but rarely does the buying price end up covering the payout for such costly home improvements. When possible, stick with the simpler (and less expensive) options rather than major remodeling.
Make a good first impression
Curb appeal is important. Keep your lawn and other landscaping neatly trimmed, weeded and watered. Check the exterior of your home for signs of wear and damage, such as peeling paint, foundation cracks or loose shingles, and fix what is needed. Clean the outside of the house, including windows. Many people suggest giving the front door a fresh coat of paint for that warm, welcome feeling. In addition, adding a few flowers in the spring and summer, or keeping the walks cleared of leaves and snow in the fall and winter can be inviting to potential buyers.
Clean!
The obvious seller's commandment: thou shalt clean. Remove all clutter from every room, including closets. Organize your basement and attic. Have a garage sale with all the stuff you don't want to move to your next home! Wipe down and paint walls and trim if necessary. Many people advocate repainting with a neutral color palette to appeal to a wider range of potential buyers. Clean all windows, light fixtures and ceiling fans. Bathrooms should always be squeaky clean. Inspect and make any necessary repairs to the plumbing, heating, cooling and electrical systems. Highlight the bath and kitchen by selecting some attractive new towels, curtains or cabinetry knobs.
And keep it clean
Maintain the new and improved interior and exterior of your home until you successfully sell. It's hard, but it's necessary. A professional cleaning service may be able to help maintain the new clean look with occasional visits.
Light it up
When showing your house, provide plenty of light and make your home a warm, welcoming place. Open the curtains to let in the sunshine. In the event of an evening showing, make sure you have ample lighting available in all areas. Fresh cut flowers make a nice addition, and a pleasantly scented house is very inviting.
Go away
Many realtors and potential buyers would prefer that the seller not be present during a showing, to avoid limiting the buyers' conversation or making them uncomfortable. Children and pets should also be absent or out of the buyers' way during a showing, if at all possible.
Monday, September 8, 2008
Understanding the Value of Your Home
How to determine your homeowner's insurance coverageYour home may be the biggest investment you'll ever make. So if you're serious about protecting that investment, here is some important information to consider when determining the coverage amount for your home.
Make sure that your home is insured for at least 100% of its estimated replacement cost.
To determine your amount of homeowners insurance coverage:
- Get an estimate of the replacement cost of your home, and
- Select the coverage amount that best fits your needs.
We recommend that you purchase an amount of coverage at least equal to the estimated replacement cost. But the choice is yours. Determining your home’s estimated replacement cost is important because this will ultimately determine which policy options are available to you. Since it is impossible to predict today what the exact cost will be to replace your home in the future, it’s important to have enough coverage to account for unforeseen circumstances.
Understand the difference between market value and replacement cost for insurance purposes
Market value is the amount a buyer would pay for a home, including the land, regardless of how much it would cost to rebuild the home. Replacement cost for this purpose is the rebuilding cost necessary to repair or replace the entire home.
Replacement cost IS NOT:
- The market value of the home.
- The home’s purchase price or the cost of the land.
- The outstanding amount of any mortgage loan.
When buying a new home, be sure to obtain a replacement cost estimate
Before you purchase a new home, make sure that you determine the appropriate amount of coverage needed. Here’s how:
- Ask if a replacement cost estimate is available when you have the home appraised.
- Or, consult with your local builder association or a reputable builder for an estimate.
- You can also check with your State Farm® agent to help you with this process.
Be aware of any architectural details or unique building materials that may affect your estimated replacement cost, such as:
- Upgraded bathrooms or kitchens (including cabinets).
- Finished or partially finished basement.
- Additional rooms or living space.
- Custom molding or arched windows.
- Other unique features..
A contractor or appraiser can help estimate your home’s replacement cost
Building contractors or professional replacement cost appraisers are a good source for obtaining an estimated replacement cost of your home. Estimates from these sources should reflect your home’s features, like those mentioned above. If you are unable to obtain a detailed estimate from these sources, your State Farm agent can discuss other options for estimating the replacement cost of your home.
Review your policy annually to make sure that your coverage meets your needs
Have you recently remodeled or improved your home?
When you upgrade or improve your home, you may increase your home's estimated replacement cost. Your State Farm agent will then help you adjust your policy to meet your coverage needs. As part of your policy's provisions, you have 90 days to notify us of any remodeling or additions to your home that increases its value by $5,000 or more.
Has the rate of inflation risen since your last appraisal?
State Farm provides coverage that automatically adjusts each year in an effort to compensate for increases in construction costs in your area. However, certain conditions such as severe weather can increase the demand for labor and materials, and raise costs beyond normal inflation. It is important to update your coverage amount each year to keep up with the changing economy.
What influences the building costs in your area?
Market conditions in your area may impact the amount it will cost to rebuild your home if you experience a loss. Replacement cost estimates are influenced by supply of labor, demand for labor, and the cost of construction materials. Keeping up with the current market conditions in your area, and changing your coverage amount accordingly, will help you maintain coverage at least equal to 100% of the estimated replacement cost coverage for your home.
Keeping Your Boat Afloat
Protecting your boat
Part of being safe is having adequate insurance for your boat and your passengers. While your homeowners policy provides basic protection, for most boat owners, it is not enough.
See our website or contact a State Farm agent for more information on boat insurance. An agent will help you determine the amount of coverage you need.
State Farm may offer a premium discount to boaters who have successfully completed a boating safety course.
The Coast Guard Auxiliary, U.S. Power Squadrons® and/or your local boating officials often conduct safety courses where you can learn more about local laws and regulations, boat handling, navigation and other topics.
Results of Recent SUV Crash Tests
Best Performer: Subaru Forester.
Acceptable Ratings:
- Jeep Wrangler
- Suzuki Grand Vitara
- Suzuki Vitara
- Chevrolet Tracker
Marginal Ratings:
- Kia Sportage
- Honda CR-V
- Jeep Cherokee
- Toyota RAV4
Worst Performer: Isuzu Amigo.
The Institute's crashworthiness evaluations are based primarily on results from the frontal offset crash test.
Each vehicle's overall evaluation is based on three aspects of performance:
- Occupant compartment intrusion
- Injury risk measures from a dummy positioned in the driver seat
- Analysis of slow-motion film to assess how well the restraint system controlled dummy movement during the test.
In addition, the Institute's evaluations reflect the adequacy of front-seat head restraint designs and bumper performance in four crash tests at 5 mph.
These don't affect overall crashworthiness evaluations but are considered when establishing the rankings within each class of vehicles the Institute tests.
The Institute's crashworthiness evaluations don't address the propensity of small utility vehicles to roll over.
As a group, these vehicles historically have much higher fatal single vehicle crash rates than other kinds of passenger vehicles, largely because of very high involvement in rollovers.
However, most of the vehicles the Institute tested are relatively new designs, so no information is available to address this issue for these particular small utility vehicles.
Institute and government crash tests complement each other
The federal government has been testing new passenger vehicles in 35 mph crash tests since 1978.
This New Car Assessment Program has been a major contributor to crashworthiness improvements - in particular, improved restraint systems in new passenger vehicles.
The same 40 mph offset crash test is used to evaluate new cars by the European Union in cooperation with motor clubs and by an Australian consortium of state governments and motor clubs.
Which cars are stolen the most? II
According to the Insurance Institute for Highway Safety and the Highway Loss Data Institute, the 2003-05 model Cadillac Escalade EXT and Cadillac Escalade 4dr have theft claim rates seven to eight times the average for all cars.
Highest Theft Claim Frequencies, 2003-05 Model Passenger Vehicles:
- Cadillac Escalade EXT 4dr 4WD
- Cadillac Escalade 4dr
- GMC Savana 1500 cargo
- Dodge Ram 1500 quad
Which newer cars are stolen the least?
Lowest Theft Claim Frequencies, 2003-05 Model Passenger Vehicles:
- Ford Taurus
- Pontiac Vibe 4WD
- Buick LeSabre
- Buick Park Avenue 4dr
How can you protect myself from vehicle theft?
According to the National Insurance Crime Bureau (NICB), a vehicle is stolen every 26 seconds in the United States.
Learn to reduce your risks.
Secure your vehicle:
- Lock your garage at home.
- Park in well-lit areas.
- Roll your windows up completely and when parked.
- Always lock your vehicle.
- Consider installing a vehicle alarm or other theft protection device.
- Never leave your vehicle unattended while the engine is running.
Secure your property:
- Always hide valuables
- Never hide a second key in or on your car
Park securely
When parking on a street, turn your wheels toward the curb and set the emergency brake.
When parking in a driveway or parking lot follow these rules:
- If front-wheel drive, pull in forward and set your emergency brake.
- If rear-wheel drive, back into the space and set the emergency brake.
When buying a new vehicle consider looking for:
- A factory immobilizer (computer chip in the key)
- A locking steering wheel
- Other anti-theft devices such as an alarm
Always report any suspected theft activity
to your local police and the NICB at 1-800 tel-NICB.
Preparing Your Teen to Drive
The purpose of this article is not to give you the "Rules of the Road" or statistics about auto accidents.
It does give you some common sense things to consider as you help prepare your teenager for driving. These topics include:
- Putting Things in Perspective
- Setting a Good Example
- Being Involved
- Talking Facts
- Setting Some Ground Rules
Financial Strength Ratings
How does State Farm Rate financially?
State Farm Mutual Automobile Insurance Company has received high ratings for financial strength and claims paying ability from four independent rating agencies.
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Here is some useful information about marriage and your Auto Insurance
- Auto Insurance rates typically drop for men under age 25 when they marry.
- You may be able to both save money and simplify if you can consolidate all insurance policies in the household.
- You may qualify for substantial discounts including:
- Multicar Discount - for multiple vehicles in the household
- Multiline Discount - for having other insurance with State Farm
Getting ready to move?
Research your new area
One of the first priorities when moving to a new area will be to find out about your new town. Check out the local newspapers, community, and chamber of commerce web sites. You can also contact a local State Farm agent.
Review your insurance needs
You may need to make some changes to your insurance. The following will help.
- Find an agent in your area. The agent can assist with transferring your insurance or finding you a new policy that meets your needs.
- Look for possible discounts in your new area.
- Get a quote.
Review your financial needs
Not all financial institutions are located throughout the country. You may need to:
- Open a new account
- Apply for a new credit card
- Apply for a loan
How will attending college affect my Auto Insurance?
College students are generally covered under their parents' auto insurance policy, if the student's primary address is the parent's house.
The specifics vary by state, so you may want to discuss them with a State Farm insurance agent.
Take advantage of insurance discounts. For example, you may qualify for a Good Student Discount if that applies in your area.
New teenage driver at home?
Let State Farm help:
1.) Add a driver to your auto policy. You can:
- Call your agent or
- Log in to your account on statefarm.com
If you do not have a customer ID, please register now
2.) If you are not adding a vehicle, the new driver usually needs to be rated as a primary driver on one of the family vehicles.
3.) Your insurance rates will typically increase when a new driver is added to a policy.
4.) Talk with your teenager about safe driving, as well as how traffic violations will affect your rates.
5.) If you are buying a new vehicle, you may want to consider which vehicles get the lowest rates.
6.) Consider getting a Personal Liability Umbrella Policy (PLUP).
If you or your teenage driver accidentally injures someone or damages their property, you could be sued.
Even though your underlying policies may provide substantial liability limits, it is not uncommon today for juries to award damages that exceed those limits. Coverage amounts are written in increments of $1 million and supplement your present policies to provide additional personal liability protection.
Most Frequently Stolen Cars
The NICB has compiled a list of the 10 vehicles most frequently reported stolen in the U.S. in 2006.
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Car Insurance Coverage and Deductible Options
What is a deductible?
A deductible is the part of a covered loss that you have agreed to pay with your own money.
If you file a claim against your insurance, you will pay only the amount of the deductible. State Farm® will pay the rest - up to your coverage limit.
When choosing a deductible, you must decide how much you would be willing and able to pay out-of-pocket, if you ever had to file a claim.
Typically, higher deductibles mean lower premiums.
Who does my auto insurance policy cover?
An Auto Insurance policy typically covers:
- You and your spouse
- Relatives who live in your home
- Other licensed drivers who have permission to drive your insured vehicle.
Types of auto insurance coverage
An Auto Insurance policy generally consists of several kinds of coverages.
Because all 50 states have different laws when it comes to Auto Insurance, the following coverage descriptions are simply general information. They are not statements of contract.
To learn more about auto insurance in your state, contact your State Farm agent.
Most Common Coverages:
Liability
Auto liability coverage pays for the damage if you are legally responsible for accidentally injuring someone, or for damaging another vehicle or other property in an auto accident.
Auto liability coverage falls into two categories:
- Bodily Injury Liability - which covers medical expenses, pain and suffering, lost wages, and other special damages.
- Property Damage Liability -- which covers damaged property, and may include loss of use.
Liability coverage also pays legal defense and court costs.
State laws usually dictate the minimum amounts of insurance required, but higher amounts are available.
Personal Injury Protection (PIP)
This coverage pays the reasonable and necessary medical expenses for covered persons for treatment due to an auto accident.
It may also pay for:
- Rehabilitation
- Lost earnings
- Replacement of services (For example, child care if a parent is disabled.)
- Funeral expenses
Medical Payments
This coverage is available in most states. It pays medical and funeral expenses for covered persons when those expenses are related to an auto accident.
Collision
This coverage helps pay for damage to a covered vehicle caused by:
- Collision with another vehicle
- Collision with an object
- A vehicle rollover
A deductible is required.
Comprehensive
This coverage helps pay for loss of or damage to an insured vehicle, not caused by a collision or vehicle rollover.
Examples of this type of damage or loss include:
- Fire
- Wind
- Hail
- Flood
- Vandalism
- Theft
- Hitting an animal
A deductible may apply.
Uninsured Motorist
This coverage pays for damages when a covered person is injured in an auto accident caused by a driver who does not have Liability Insurance
In some states this coverage may also pay for property damage.
This coverage varies by state and depends upon policy provisions.
Underinsured Motorist
This coverage pays for damages when a covered person is injured in an auto accident caused by another driver who has insufficient Liability Insurance.
Application of this coverage varies by state and depends upon policy provisions.
Rental Reimbursement
This coverage pays for renting a car when your auto is disabled due to an auto accident.
Daily allowances or limits vary by state or policy provisions.
Emergency Road Service
This coverage pays for having your auto towed due to a breakdown.
Towing limits vary by state or policy provisions.
This information is only a general description of the available coverages and is not a statement of contract. All coverages are subject to all policy provisions and applicable endorsements.
Auto Insurance Discounts
Are you eligible for an insurance discount?
State Farm auto policies offer a variety of discounts that include:
- Multiple Vehicle
- Multiple Line
- New Vehicle Safety
- Accident Free
- Anti-Theft Device
- Defensive Driving
- Good Driving
- Good Student
- Driver Training
Availability of discounts varies by state or province.
What affects the price of Auto Insurance?
The cost of automobile insurance varies by insurance company and by:
What you buy
- How many coverages you buy
- The deductibles
What kind of car you drive
If you are buying or selling a car, you will need to re-evaluate your auto insurance needs.
Generally, the more expensive the car, the more you pay.
Where you drive
Generally, due to higher rates of vandalism, theft, and accidents, urban drivers pay more for insurance than those in small towns or rural areas.
How much you drive
People who use their car for business and long-distance commuting normally pay more than those who drive less.
Your age, sex and marital status
Accident rates are higher for all drivers under age 25, especially young males and single males. Insurance prices in most states reflect these differences.
Your driving record
Drivers who cause accidents generally must pay more than those who are accident-free for several years.
Your credit history
Studies have shown that credit history is a powerful predictor of future auto insurance losses. Many insurance companies consider certain credit characteristics in addition to many other factors when determining an individual's rate.
What can I do to save money on my auto insurance?
If you're shopping for a car, consider how your choice will affect premiums.
Some insurers increase premiums for cars more susceptible to damage or occupant injury, and lower rates for those that fare better than the norm.
Ask about discounts for good students, insuring more than one vehicle, accident-free driving, and others.
Consider joining a car or van pool, or finding other transportation to work. If you reduce your driving mileage enough, you may lower your premiums.
Drive carefully.How much Car Insurance do I need?
Consider the following three questions with the help of your agent:
1) How high should my liability coverage limits be?
No one can predict exactly how much you would have to pay if you were to cause an accident.
Ask yourself how you would pay for any damages exceeding your coverage limits.
The higher your liability coverage limits are, the more likely your policy will be able to pay all of the damages.
2) How high or low should my collision and comprehensive deductibles be?
Higher deductibles lower your premium but increase the amount you must pay out of your own pocket if a loss occurs.
Ask yourself how much you would be willing and able to pay on short notice in order to save on your premium.
3) Should I carry collision and comprehensive coverage?
You may be required to carry collision or comprehensive coverage if your vehicle is leased or financed.
Once you have paid off your car, and its value decreases, you might consider dropping these coverages to save money on premiums.
Consider, though, whether the savings would be enough to offset the risk of having to pay the entire cost of repairing or replacing the vehicle.
Thursday, September 4, 2008
Insurance Skill Course Overview
You have heard the old adage, “All dressed up but no place to go.” Theequivalent of it for financial advisors is, “Fully credentialed but no one to see.”Even if you are the most qualified advisor with the best products and services,if you do not have prospective clients to see, you will starve. Prospecting is tofinancial advisors as blood is to the human body. It is arguably the lifeblood ofyour practice; the better you can do it, the greater the likelihood of achievingyour goals.
You have heard the old adage, “All dressed up but no place to go.” Theequivalent of it for financial advisors is, “Fully credentialed but no one to see.”Even if you are the most qualified advisor with the best products and services,if you do not have prospective clients to see, you will starve. Prospecting is tofinancial advisors as blood is to the human body. It is arguably the lifeblood ofyour practice; the better you can do it, the greater the likelihood of achievingyour goals.
As critical as prospecting is to a financial advising practice, many advisorsstruggle to do it well. Consequently, this book is devoted to unleashing theprospecting machine within you.
Chapter 1 explains the context of prospecting within the overall selling/planning process. Then it looks at the psychology of prospecting from theadvisor’s point of view. It also examines the psychology of the buying processfrom the prospect’s point of view, discussing some of its effects on prospecting.This discussion provides the foundation for the principles that follow.
The rest of the book explains the prospecting process and the marketingactivities required to prospect effectively and efficiently. Target marketing—what it is and how to do it—is the focus of chapter 2. Chapters 3 and 4 discussvarious prospecting techniques and preapproach methods, which often overlap.
Chapter 5 leads you through the process of approaching prospects to setappointments. In addition, it addresses the task of qualifying prospects. Goalsetting and time management are discussed in chapter 6. Chapter 7 examineshow service is tied into prospecting. The text closes with a discussion ofpractice management and ethics.
You have heard the old adage, “All dressed up but no place to go.” Theequivalent of it for financial advisors is, “Fully credentialed but no one to see.”Even if you are the most qualified advisor with the best products and services,if you do not have prospective clients to see, you will starve. Prospecting is tofinancial advisors as blood is to the human body. It is arguably the lifeblood ofyour practice; the better you can do it, the greater the likelihood of achievingyour goals.
As critical as prospecting is to a financial advising practice, many advisorsstruggle to do it well. Consequently, this book is devoted to unleashing theprospecting machine within you.
Chapter 1 explains the context of prospecting within the overall selling/planning process. Then it looks at the psychology of prospecting from theadvisor’s point of view. It also examines the psychology of the buying processfrom the prospect’s point of view, discussing some of its effects on prospecting.This discussion provides the foundation for the principles that follow.
The rest of the book explains the prospecting process and the marketingactivities required to prospect effectively and efficiently. Target marketing—what it is and how to do it—is the focus of chapter 2. Chapters 3 and 4 discussvarious prospecting techniques and preapproach methods, which often overlap.
Chapter 5 leads you through the process of approaching prospects to setappointments. In addition, it addresses the task of qualifying prospects. Goalsetting and time management are discussed in chapter 6. Chapter 7 examineshow service is tied into prospecting. The text closes with a discussion ofpractice management and ethics.
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