Thinking about buying a boat? Before you pick out the water craft of your dreams you will want to investigate the various kinds of marine boat insurance available. Do you want to buy insurance from the agent who handles your home and auto insurance? If you do there is probably an additional discount available because you already have multiple policies with that carrier. What about finding a marine boat insurance agency that specializes in boats, personal water craft, yachts, etc.? If you had to make a claim which company would be more responsive? There are different schools of thought on which one would be best and I would let my bank account make that decision. If the coverage is similar then go with the least expensive policy.
Boat US has been providing marine boat insurance for over forty years and offers a wide range of provisions on every policy including $800,000 in extra fuel spill liability. Federal and state regulations have put the burden on boat owners to pay for any clean up necessary due to any kind of fuel spill in their waters. You also get the availability of twenty four hour seven days a week dispatch service for emergencies like fuel spills, break downs and even salvage operations. You get full salvage assistance without a deductible and you can also get towing assistance with no deductible in their premium program.
With every policy you also get $25,000 in medical coverage and uninsured boater coverage for additional medical coverage in the case you are hit by someone with no insurance. You also get liability coverage for any dock contracts made at the local marina. In the case of a hurricane your policy will pay half of your emergency haul out costs up to $1000 if you want your boat or personal water craft out of the water because of a NOAA radio warning.
Boat US also offers yacht specific coverage, fishing boat coverage, personal water craft coverage and even regular boat coverage in both a premium package and a basic package to save you some money.
Yacht insurance is one of the most expensive policies you can buy but with Boat US you get the above mentioned coverage and in addition you will get under the Total Protection Yacht Policy the following: agreed value coverage for the boat, trailer, equipment and dinghy; medical payments up to $10,000; liability of $500,000 per incident; consequential damage - damage as a result of an accident, fire, explosion, sinking or stranding; a lifetime repair guarantee and investigative services if your damage is the possible result of a manufacturer's defective part.
For personal water craft coverage you get actual cash value coverage; a broad cruising area in the United States and Canada; medical coverage up to $5,000 per person per incident; liability coverage up to $300,000 and optional boat trailer coverage. The best thing about Boat US is that you can request an online quote and have your insurance in hand effective the next day within a few minutes of submitting all of your information.
Wednesday, December 9, 2009
Avoid That Sinking Feeling When Placing Marine and Yacht Insurance
Although there is no official standard such as ISO within the yacht insurance industry to guarantee complete consistency across carriers, most policies have developed many common denominators.
Hull, protection and indemnity, medical payments, personal effects, uninsured boater's liability, towing and emergency assistance and even pollution coverage have all become accepted as essential elements within a policy.
However, as we know the devil hides in the detail and the subtle nuances between seemingly similar policies can lead to very costly uncovered loss, in turn resulting in an expensive claim on your own professional indemnity cover.
Environmental damage, Ice and freezing, mechanical break down, and defense costs are some of the key areas that if cover is not adequate can lurk beneath the surface of a policy waiting to cause such exposure if attention to detail is overlooked.
We live in an age of increase environmental awareness and as such the laws designed to protect our beautiful planet are now rigorously purposeful in their intent to hold boat owners accountable for their actions. If you are the owner of luxury sports/fishing yacht in Queensland for example, a minor accident running aground into one of the local reefs could leave a bill that would leave Richard Branson feeling slightly worried.
Environmental damage is generally addressed by carriers in three different ways.
Firstly, total exclusion for the damage to the marine environment, secondly with a stated sub-limit ranging from $60,000 to $150,000 and finally a policy which is 'silent' to the coverage. Obviously the latter is the most generous as it doesn't exclude or sub limit environmental damage, however if the insured yacht is based somewhere such as the more robust shores of England, it can be an unnecessary premium.
Possibly the most frequently argued claim in a carrier's yacht portfolio is almost certainly mechanical breakdown. Although coverage for mechanical breakdown is by no means uncommon how it is adjusted varies widely. There is a thin line between wear and tear and the unforeseen mechanical breakdown. The latter being often being covered and the former more than likely not.
It is essential to establish the variables within the policy such as is the cover adjusted on the basis of its actual cash value or a replacement cost? Also does the valuation change when the boat reaches a certain age and if so, when? Often a policy will begin as replacement cost and then convert to ACV as the boat reaches an age such as 10 years old.
To overlook the threat of ice and freezing as non-critical is all too easy unless you are based in an area where it is common fact of life. This outlook can be compared to the homeowner who doesn't' buy flood coverage because he doesn't live on the water and therefore doesn't see the threat. Too often this nonchalance can come back to haunt us. More often than not Ice and freezing is excluded but there are policies which have no such exclusions or give back coverage based on the berthing standards of the vessel which provide underwriters with more opportunities to control exposure. In this instance some policies may not exclude ice and freezing but rather exclude damage resulting from improper winterization.
Finally it is vital to understand the critical difference between a policy that has defense cost in addition to the limit of liability and a policy where the defense costs are included within the limit of liability, thereby diminishing the limit available for settlement by the cost of the defense. With their still being a lack of standard here make sure you check each policy wording carefully. If the owner runs out of limit often the only feasible step is to make up the difference with your PI cover - and this is not good.
Obviously it is important to know all of the coverage differences from policy to policy but each of the above occur in real life scenarios and the difference in one policy over another can have dramatic effect upon the amount of loss covered by any particular carrier.
With the yachting sector having seen many top insurers merge, sell on their portfolios or even leave the business altogether across the last five years, now more than ever an examination of policy and what lies beneath the surface can prove to be a invaluable endeavor when placing business.
Anything less than a 100% understanding of all areas of the marine insurance policy and how they fair against the vessels risk adversity, could lead to a somewhat sinking feeling all round.
Hull, protection and indemnity, medical payments, personal effects, uninsured boater's liability, towing and emergency assistance and even pollution coverage have all become accepted as essential elements within a policy.
However, as we know the devil hides in the detail and the subtle nuances between seemingly similar policies can lead to very costly uncovered loss, in turn resulting in an expensive claim on your own professional indemnity cover.
Environmental damage, Ice and freezing, mechanical break down, and defense costs are some of the key areas that if cover is not adequate can lurk beneath the surface of a policy waiting to cause such exposure if attention to detail is overlooked.
We live in an age of increase environmental awareness and as such the laws designed to protect our beautiful planet are now rigorously purposeful in their intent to hold boat owners accountable for their actions. If you are the owner of luxury sports/fishing yacht in Queensland for example, a minor accident running aground into one of the local reefs could leave a bill that would leave Richard Branson feeling slightly worried.
Environmental damage is generally addressed by carriers in three different ways.
Firstly, total exclusion for the damage to the marine environment, secondly with a stated sub-limit ranging from $60,000 to $150,000 and finally a policy which is 'silent' to the coverage. Obviously the latter is the most generous as it doesn't exclude or sub limit environmental damage, however if the insured yacht is based somewhere such as the more robust shores of England, it can be an unnecessary premium.
Possibly the most frequently argued claim in a carrier's yacht portfolio is almost certainly mechanical breakdown. Although coverage for mechanical breakdown is by no means uncommon how it is adjusted varies widely. There is a thin line between wear and tear and the unforeseen mechanical breakdown. The latter being often being covered and the former more than likely not.
It is essential to establish the variables within the policy such as is the cover adjusted on the basis of its actual cash value or a replacement cost? Also does the valuation change when the boat reaches a certain age and if so, when? Often a policy will begin as replacement cost and then convert to ACV as the boat reaches an age such as 10 years old.
To overlook the threat of ice and freezing as non-critical is all too easy unless you are based in an area where it is common fact of life. This outlook can be compared to the homeowner who doesn't' buy flood coverage because he doesn't live on the water and therefore doesn't see the threat. Too often this nonchalance can come back to haunt us. More often than not Ice and freezing is excluded but there are policies which have no such exclusions or give back coverage based on the berthing standards of the vessel which provide underwriters with more opportunities to control exposure. In this instance some policies may not exclude ice and freezing but rather exclude damage resulting from improper winterization.
Finally it is vital to understand the critical difference between a policy that has defense cost in addition to the limit of liability and a policy where the defense costs are included within the limit of liability, thereby diminishing the limit available for settlement by the cost of the defense. With their still being a lack of standard here make sure you check each policy wording carefully. If the owner runs out of limit often the only feasible step is to make up the difference with your PI cover - and this is not good.
Obviously it is important to know all of the coverage differences from policy to policy but each of the above occur in real life scenarios and the difference in one policy over another can have dramatic effect upon the amount of loss covered by any particular carrier.
With the yachting sector having seen many top insurers merge, sell on their portfolios or even leave the business altogether across the last five years, now more than ever an examination of policy and what lies beneath the surface can prove to be a invaluable endeavor when placing business.
Anything less than a 100% understanding of all areas of the marine insurance policy and how they fair against the vessels risk adversity, could lead to a somewhat sinking feeling all round.
Sunday, August 9, 2009
Condo Insurance - What Does it Include?
As you're shopping for condo insurance, New York insurance carriers will explain their own terms and conditions regarding their coverage options, but below are three important questions you should ask your agent - regardless.
1. What Does My Policy's Liability Coverage Include?
Liability coverage is extremely important because it protects you during serious situations in which someone becomes injured on your property.
Given how expensive medical bills are and how costly it can be to supplement someone's lost income, you can understand why it's important to ask about the specific details of the liability coverage in your policy of condo insurance. New York insurance carriers can fully explain their policies' details to you so you can determine if you're getting enough liability coverage or if you want to purchase more.
2. Is There a Limit for Covering My Valuables?
Most insurance companies place limits on covering your valuables. Take care to find out exactly what your limit is each policy of condo insurance. New York condo insurance carriers can then help you purchase more coverage if the basic limit isn't enough.
3. What Does My Loss of Use Coverage Entail?
For most policies, "loss of use" coverage can help you maintain your standard of living should your condo become damaged or destroyed due to a catastrophe such as fire.
Because you probably don't want to go from living in a luxury four-bedroom, two-bathroom condo in an opulent complex to a modest one-bedroom, one-bathroom condo in an economy-style complex, it pays to find out the details about the loss of use coverage with your condo insurance. New York carriers, again, will be able to explain the details for each of their policies.
1. What Does My Policy's Liability Coverage Include?
Liability coverage is extremely important because it protects you during serious situations in which someone becomes injured on your property.
Given how expensive medical bills are and how costly it can be to supplement someone's lost income, you can understand why it's important to ask about the specific details of the liability coverage in your policy of condo insurance. New York insurance carriers can fully explain their policies' details to you so you can determine if you're getting enough liability coverage or if you want to purchase more.
2. Is There a Limit for Covering My Valuables?
Most insurance companies place limits on covering your valuables. Take care to find out exactly what your limit is each policy of condo insurance. New York condo insurance carriers can then help you purchase more coverage if the basic limit isn't enough.
3. What Does My Loss of Use Coverage Entail?
For most policies, "loss of use" coverage can help you maintain your standard of living should your condo become damaged or destroyed due to a catastrophe such as fire.
Because you probably don't want to go from living in a luxury four-bedroom, two-bathroom condo in an opulent complex to a modest one-bedroom, one-bathroom condo in an economy-style complex, it pays to find out the details about the loss of use coverage with your condo insurance. New York carriers, again, will be able to explain the details for each of their policies.
Choose the Right Home Insurance For Your Needs
Whether you rent or own your home, however, there are some things about home insurance that will help you to make a more educated decision:
- Renters
Renter's insurance is inexpensive in most states. Depending on the coverage you need, it will likely only cost you about $50 - $70 yearly. The key to getting renter's insurance that you feel good about having is to do your homework. Often, it isn't how low your insurance premiums are, but how good your coverage is. Just because your landlord has insurance on the property in which you live doesn't mean that everything you own and keep in the property are covered, so you need to make sure that in case of a fire, flood or burglary, you are protected against your losses.
Renters should consider how much their possessions are worth. Now, just because your great-grandmother's teapot is irreplaceable to you, you will need to consider how many dollars would it cost you to purchase something similar. Add it all up, even your dishes and clothing. If there were a fire, how much money would it cost to replace everything that you lost? This is the amount of coverage you will need.
Take pictures and list anything that is significantly expensive. Your insurance company will give you guidelines, but this is a very important step because it will help make all your claims go smoother. This is the time to consider expensive items valued at more than $10,000. Many home insurance companies suggest that you take out a rider on your current home insurance policy to cover very expensive items.
When you're shopping for renter's insurance, remember that many insurance companies offer multiple policy discounts. If you are happy with your auto and life insurance, consider getting your renter's insurance through the same company. Chances are, you will get a great discount.
- Homeowner's
When you buy a home, your lender will require that you have insurance on the property. Your lender will require that the home be insured for at least as much as you owe on it and it will have to cover the structure and contents.
Insure yourself against getting sued if someone gets hurt on your property. Liability is included in homeowner's insurance. Many insurance agents recommend that you insure your possessions for about as much as the value of your home, with very expensive items covered on a rider.
When you're shopping for homeowner's insurance, it will probably be paid out of your escrow, so it's likely that your mortgage payment will be affected. Depending on the cost of your home, your insurance can sometimes be more or less than you anticipated. It's important to choose an insurance company who has a good claims record. Raising your deductible will likely lower the yearly cost of your home insurance.
- Renters
Renter's insurance is inexpensive in most states. Depending on the coverage you need, it will likely only cost you about $50 - $70 yearly. The key to getting renter's insurance that you feel good about having is to do your homework. Often, it isn't how low your insurance premiums are, but how good your coverage is. Just because your landlord has insurance on the property in which you live doesn't mean that everything you own and keep in the property are covered, so you need to make sure that in case of a fire, flood or burglary, you are protected against your losses.
Renters should consider how much their possessions are worth. Now, just because your great-grandmother's teapot is irreplaceable to you, you will need to consider how many dollars would it cost you to purchase something similar. Add it all up, even your dishes and clothing. If there were a fire, how much money would it cost to replace everything that you lost? This is the amount of coverage you will need.
Take pictures and list anything that is significantly expensive. Your insurance company will give you guidelines, but this is a very important step because it will help make all your claims go smoother. This is the time to consider expensive items valued at more than $10,000. Many home insurance companies suggest that you take out a rider on your current home insurance policy to cover very expensive items.
When you're shopping for renter's insurance, remember that many insurance companies offer multiple policy discounts. If you are happy with your auto and life insurance, consider getting your renter's insurance through the same company. Chances are, you will get a great discount.
- Homeowner's
When you buy a home, your lender will require that you have insurance on the property. Your lender will require that the home be insured for at least as much as you owe on it and it will have to cover the structure and contents.
Insure yourself against getting sued if someone gets hurt on your property. Liability is included in homeowner's insurance. Many insurance agents recommend that you insure your possessions for about as much as the value of your home, with very expensive items covered on a rider.
When you're shopping for homeowner's insurance, it will probably be paid out of your escrow, so it's likely that your mortgage payment will be affected. Depending on the cost of your home, your insurance can sometimes be more or less than you anticipated. It's important to choose an insurance company who has a good claims record. Raising your deductible will likely lower the yearly cost of your home insurance.
Seek Appropriate Advice From Injury Claims Solicitors!
In the eventuality of an accident, you must take advice from an accident claims solicitor. They can help you get the required information on making a claim. As a layman, you may not be aware of all the procedures to make a claim. Hence, seeking help from solicitors can prove to be useful. The solicitors will provide required guidance to make a claim. They will also brief you on the necessary steps to be taken to make a claim.
They will simplify things for you and help get compensation quickly. You need not worry about how to proceed with the claims case. The solicitors are always ready to help you with the procedure. If there are any complexities or technicalities involved, they will help you with it. You can also look online to make a claim.
If you look online, you can also get free advice on making a claim. From within the comfort of your house, you can get the required details. You need not worry about where to look for information. You can get free consultation from a team of accident claims solicitors.
The solicitors have abundant experience in handling claims cases. They have successfully handled various claims cases. You can benefit from their expert advice. The legal team will investigate your claims case and offer a suitable solution. They can arrive at the best possible solution for you. No matter how complex is the claims case, you can get compensation in a short period of time.
It is very important to seek help from accident claims specialists. The solicitors will investigate your case and provide a suitable solution. The solicitors can provide you with free advice on making a claim. Looking online is the best thing that you can do. This is not only simple but also a free procedure. If you have suffered an injury due to faulty equipment, you can make a claim.
It is not difficult to make a claim for the injuries that arise from defective machinery. All you need to do is prove that injuries have occurred due to the fault of someone. However, you must have sufficient proof to prove that the injury has resulted due to the fault of someone. There are various provisions under the law that can offer you a suitable solution.
Basically, "work equipment" is defined as any kind of machinery, appliance, apparatus, tool or installation that is used at work. "Use" in relation to work equipment means 'any activity involving work equipment. It also includes starting, stopping, programming, setting, transporting, repairing, modifying, maintaining, servicing and cleaning'. Hence, if you find yourself in a position wherein, you have suffered an injury due to faulty equipment, you can make a claim.
They will simplify things for you and help get compensation quickly. You need not worry about how to proceed with the claims case. The solicitors are always ready to help you with the procedure. If there are any complexities or technicalities involved, they will help you with it. You can also look online to make a claim.
If you look online, you can also get free advice on making a claim. From within the comfort of your house, you can get the required details. You need not worry about where to look for information. You can get free consultation from a team of accident claims solicitors.
The solicitors have abundant experience in handling claims cases. They have successfully handled various claims cases. You can benefit from their expert advice. The legal team will investigate your claims case and offer a suitable solution. They can arrive at the best possible solution for you. No matter how complex is the claims case, you can get compensation in a short period of time.
It is very important to seek help from accident claims specialists. The solicitors will investigate your case and provide a suitable solution. The solicitors can provide you with free advice on making a claim. Looking online is the best thing that you can do. This is not only simple but also a free procedure. If you have suffered an injury due to faulty equipment, you can make a claim.
It is not difficult to make a claim for the injuries that arise from defective machinery. All you need to do is prove that injuries have occurred due to the fault of someone. However, you must have sufficient proof to prove that the injury has resulted due to the fault of someone. There are various provisions under the law that can offer you a suitable solution.
Basically, "work equipment" is defined as any kind of machinery, appliance, apparatus, tool or installation that is used at work. "Use" in relation to work equipment means 'any activity involving work equipment. It also includes starting, stopping, programming, setting, transporting, repairing, modifying, maintaining, servicing and cleaning'. Hence, if you find yourself in a position wherein, you have suffered an injury due to faulty equipment, you can make a claim.
How Not to Buy Laptop Insurance
It seems that these days, technology just keeps getting smaller and smaller. Just fifteen years ago, mobile phones were the size of bricks, but heavier, and are now practically the width of playing cards and featherlight. Televisions are no longer pieces of furniture - they've morphed into slim, sleek accessories that can lay flat against a wall and have DVD capacity built right in. MP3 players allow us to tuck thousands of CDs worth of music into our hip pockets. All around the globe, technology is rapidly shrinking, becoming at once more accessible, more manageable and more portable.
An inevitable consequence of all this convenience, however, is that the possibility for damage to technology increases directly in relation to its portability. An iPod being carried around in one's pocket day after day, for example, is much more likely to be dropped, rained on or stolen than a stereo system resting safely back home. A modern, diminutive mobile phone is more easily mislaid than the gargantuan devices of yesteryear. And then there is the most valuable of all these shrinking gadgets - and, perhaps, the most valuable - the laptop computer.
The home computer, for many consumers, represents the third largest material investment in life (following housing and car). It has become more a necessity than a luxury in today's day and age, something indispensable for work and play. And now, as technology continues to shrink, more and more of those in the market for home computers are electing to purchase laptop computers. Though a laptop does offer increased convenience over more traditional desktop models, it also presents the consumer with greater risk. And because a laptop computer embodies not only a substantial financial investment, but also (due to the great amount of personal data stored on most machines) a hefty emotional one, the loss of a laptop can be a particularly crushing blow.
Even more than other pieces of technology, then, it is very important to insure one's laptop computer. You should NOT, under any circumstances, travel with this very valuable device without protection. The BBC reports that muggings in London have risen 40% over the last year, and that many of these incidents involved the thefts of laptops or other portable electronic devices. These statistics, coupled with the potential for loss or damage inherent in the possession of a laptop computer, should serve to motivate you to go out and get your valuables insured.
Now, it is important to note that laptops and other portable electronic devices, because of the very high risk they present, are generally NOT covered by house or homeowner's insurance. It is possible to expand one's coverage to include a laptop computer, but the policy add-on is often quite expensive. Unless you are planning on losing two to three laptops a year, expanding your house or homeowner's insurance to cover your computer is generally NOT a good idea.
Luckily, there are other options for protecting your laptop computer. There are insurance agencies that specialize in portable electronic devices including laptop insurance. Their specialization ensures that their premiums reflect an accurate amount of risk - not an inflated number generated by some larger agency's spreadsheet.
This article is titled "How Not to Buy Laptop Insurance." What should you NOT do? Don't go uninsured. Don't expand your homeowner's insurance to cover your laptop. What should you absolutely do? Get insured by an electronics specialist. You'll be glad you did!
Emily Frost has worked in the insurance industry for over ten years and has a background in technology, having a master's degree in electronic engineering. She is an expert on gadget insurance and works for a leading company in the industry.
An inevitable consequence of all this convenience, however, is that the possibility for damage to technology increases directly in relation to its portability. An iPod being carried around in one's pocket day after day, for example, is much more likely to be dropped, rained on or stolen than a stereo system resting safely back home. A modern, diminutive mobile phone is more easily mislaid than the gargantuan devices of yesteryear. And then there is the most valuable of all these shrinking gadgets - and, perhaps, the most valuable - the laptop computer.
The home computer, for many consumers, represents the third largest material investment in life (following housing and car). It has become more a necessity than a luxury in today's day and age, something indispensable for work and play. And now, as technology continues to shrink, more and more of those in the market for home computers are electing to purchase laptop computers. Though a laptop does offer increased convenience over more traditional desktop models, it also presents the consumer with greater risk. And because a laptop computer embodies not only a substantial financial investment, but also (due to the great amount of personal data stored on most machines) a hefty emotional one, the loss of a laptop can be a particularly crushing blow.
Even more than other pieces of technology, then, it is very important to insure one's laptop computer. You should NOT, under any circumstances, travel with this very valuable device without protection. The BBC reports that muggings in London have risen 40% over the last year, and that many of these incidents involved the thefts of laptops or other portable electronic devices. These statistics, coupled with the potential for loss or damage inherent in the possession of a laptop computer, should serve to motivate you to go out and get your valuables insured.
Now, it is important to note that laptops and other portable electronic devices, because of the very high risk they present, are generally NOT covered by house or homeowner's insurance. It is possible to expand one's coverage to include a laptop computer, but the policy add-on is often quite expensive. Unless you are planning on losing two to three laptops a year, expanding your house or homeowner's insurance to cover your computer is generally NOT a good idea.
Luckily, there are other options for protecting your laptop computer. There are insurance agencies that specialize in portable electronic devices including laptop insurance. Their specialization ensures that their premiums reflect an accurate amount of risk - not an inflated number generated by some larger agency's spreadsheet.
This article is titled "How Not to Buy Laptop Insurance." What should you NOT do? Don't go uninsured. Don't expand your homeowner's insurance to cover your laptop. What should you absolutely do? Get insured by an electronics specialist. You'll be glad you did!
Emily Frost has worked in the insurance industry for over ten years and has a background in technology, having a master's degree in electronic engineering. She is an expert on gadget insurance and works for a leading company in the industry.
Arranging a More Comprehensive Insurance For Your Residential Property
When you bought a residential property, the financing bank will require you to insure the building at least with a basic Fire Insurance policy to protect the bank interest as well as you the owner's interest. Fire use to pose the highest treats for property insurance as every year, billions of dollars has been lost due to fire damage. However, in recent years, due to climatic changes which caused the occurrence of many naturally disasters in many parts of the world and destroyed billions worth of properties and death of many lives, people are more conscious on many others perils or risks that can damage or destroy that property other than fire.
A basic fire insurance policy will not compensate the owner in the event of any damages done due to the perils other than fire, so in order to protect your property again all these natural and man made disasters. You need to arrange a more comprehensive insurance policy to properly protect your property again all these risks. There are insurance companies which package many of their perils with fire policy to provide their policy holder a wider and more comprehensive cover and protect than just fire damage. Some of the perils include;
Earthquake and Volcanic eruption
Windstorm damage
Flood
Water Damage due to bursting of domestic water tank, apparatus and pipe
Riot, strike and civil commotion
Malicious damage
Impact damage by vehicle
Aerial damage
House breaking and theft
Bush and forest fire, etc etc
These comprehensive indemnify you on your losses cause by these insured perils and not necessarily related with or caused by fire. If your property is situated in an area that prone to such occurrence, you might w ant to consider arranging such a comprehensive cover to give you piece of mind. Again, always buy your insurance from a reliable and qualified insurance consultant and if in doubt, check with the authority concerns.
SK Wong, A Chartered Marketer of The Chartered Institute of Marketing UK; graduated with an MBA in Finance. He is also a Certified NLP Sales Trainer and a Certified Member Trainer of Junior Chamber International. Currently SK is working as Manager in a Risk Management & Insurance company. He is in charge of Business Development, Operation and Management of his unit. SK has conducted many training for his teams of Financial and Insurance Consultants on Motivation, Goal setting, Leadership Development, Marketing & Sales and Management Effectiveness apart from product knowledge training.
A basic fire insurance policy will not compensate the owner in the event of any damages done due to the perils other than fire, so in order to protect your property again all these natural and man made disasters. You need to arrange a more comprehensive insurance policy to properly protect your property again all these risks. There are insurance companies which package many of their perils with fire policy to provide their policy holder a wider and more comprehensive cover and protect than just fire damage. Some of the perils include;
Earthquake and Volcanic eruption
Windstorm damage
Flood
Water Damage due to bursting of domestic water tank, apparatus and pipe
Riot, strike and civil commotion
Malicious damage
Impact damage by vehicle
Aerial damage
House breaking and theft
Bush and forest fire, etc etc
These comprehensive indemnify you on your losses cause by these insured perils and not necessarily related with or caused by fire. If your property is situated in an area that prone to such occurrence, you might w ant to consider arranging such a comprehensive cover to give you piece of mind. Again, always buy your insurance from a reliable and qualified insurance consultant and if in doubt, check with the authority concerns.
SK Wong, A Chartered Marketer of The Chartered Institute of Marketing UK; graduated with an MBA in Finance. He is also a Certified NLP Sales Trainer and a Certified Member Trainer of Junior Chamber International. Currently SK is working as Manager in a Risk Management & Insurance company. He is in charge of Business Development, Operation and Management of his unit. SK has conducted many training for his teams of Financial and Insurance Consultants on Motivation, Goal setting, Leadership Development, Marketing & Sales and Management Effectiveness apart from product knowledge training.
Monday, August 3, 2009
Boat Liability Insurance
A long and remembering ride on your newly bought, stylish and trendy boat - sounds great! But before that you have to get your boat insured. You may wonder why? Well the description of this article already states the idea behind getting your boats insured but I would like to explain it a bit further by giving an example to you.
Now suppose, you want to experience an unforgettable trip to the beach near by your house and for that you wish to have your own boat. You don't have enough money to buy the boat; you started saving some money for this purpose and cut down your expenditures to the maximum level. After few months' savings, at last you saved enough money to buy your own boat. You went to the best shop in your area and bought the trendiest and up-to-the-minute boat to fulfill the wish you longed for.
You want your dream come true and you were so hasty that you didn't bother to get your boat insured just because you, yourself not convinced that it is a right thing to do. You went for a ride, on the way coming back, weather started changing and suddenly wind becomes out of control. The splashes of waves were so high that it causes damage to your brand new boat. You somehow managed to come back safely with your boat but your boat needs a repair.
Now, it is the time when you realize the importance of an insured boat. If you have get your boat insured then repairing the boat and its expenditures may not be a big deal for you but as you haven't insured your boat, therefore, you have to pay these extra expenditure for yourself. I hope you now have got the answer of your WHY.
If you are convinced that yes, getting our boats insured is a good thing then your next step is to find the best insurance company around you. Finding the best boat liability insurance company in your town is also a hard nut to crack. But you don't worry as I'll crack this nut for you in this article.
How to find the best Boat Liability Insurance Company?
Finding a boat liability insurance company is the most important step as it is the first step towards getting your boat insured. If the company is good then you don't have to worry about different terms & conditions regarding premiums and all. As a good company keeps its promise and is responsible in its every act.
First of all search the company with the most reliable source i.e. the Internet. Then find out if there are some advertisements given in the newspapers. And last but not the least, consult with the people around you who already possessed insured vehicles.
Once, you find the company then do try to meet their owners personally and discuss their terms and conditions in detail so that you should not miss anything important. If you are completely satisfied with all the conditions regarding your premiums and installments then sign the contract and get your boat insured. Conclusion!
All what I can conclude here is "Have Fun but Be Safe in Every Way!"
Yes, you need to take proper decisions on time, before it is too late. Get you boats insured and enjoy your trips to the beaches. Get all the splashes of fun, make this moment really memorable but always think from each angle to be on the safe side.
Hope you find this article informative and it had answered the "WHY" you had in your mind before reading this. Therefore, before setting up for anything, get your boat insured right after you buy it. That's it!
Now suppose, you want to experience an unforgettable trip to the beach near by your house and for that you wish to have your own boat. You don't have enough money to buy the boat; you started saving some money for this purpose and cut down your expenditures to the maximum level. After few months' savings, at last you saved enough money to buy your own boat. You went to the best shop in your area and bought the trendiest and up-to-the-minute boat to fulfill the wish you longed for.
You want your dream come true and you were so hasty that you didn't bother to get your boat insured just because you, yourself not convinced that it is a right thing to do. You went for a ride, on the way coming back, weather started changing and suddenly wind becomes out of control. The splashes of waves were so high that it causes damage to your brand new boat. You somehow managed to come back safely with your boat but your boat needs a repair.
Now, it is the time when you realize the importance of an insured boat. If you have get your boat insured then repairing the boat and its expenditures may not be a big deal for you but as you haven't insured your boat, therefore, you have to pay these extra expenditure for yourself. I hope you now have got the answer of your WHY.
If you are convinced that yes, getting our boats insured is a good thing then your next step is to find the best insurance company around you. Finding the best boat liability insurance company in your town is also a hard nut to crack. But you don't worry as I'll crack this nut for you in this article.
How to find the best Boat Liability Insurance Company?
Finding a boat liability insurance company is the most important step as it is the first step towards getting your boat insured. If the company is good then you don't have to worry about different terms & conditions regarding premiums and all. As a good company keeps its promise and is responsible in its every act.
First of all search the company with the most reliable source i.e. the Internet. Then find out if there are some advertisements given in the newspapers. And last but not the least, consult with the people around you who already possessed insured vehicles.
Once, you find the company then do try to meet their owners personally and discuss their terms and conditions in detail so that you should not miss anything important. If you are completely satisfied with all the conditions regarding your premiums and installments then sign the contract and get your boat insured. Conclusion!
All what I can conclude here is "Have Fun but Be Safe in Every Way!"
Yes, you need to take proper decisions on time, before it is too late. Get you boats insured and enjoy your trips to the beaches. Get all the splashes of fun, make this moment really memorable but always think from each angle to be on the safe side.
Hope you find this article informative and it had answered the "WHY" you had in your mind before reading this. Therefore, before setting up for anything, get your boat insured right after you buy it. That's it!
Why Windsurfers Need Insurance
Windsurfing insurance or sailboard insurance as it is sometimes called, can be a fairly low cost expense. Most insurance companies will offer cover for your windsurf board on coastal and inland waters. They will cover you during travelling to and from the water and also if you store your board in a secure locked area.
Standard practise is to provide cover for accidental loss or damage, fire and theft. Your policy should include Public Liability insurance, as this is often a requirement before you are allowed on many inland waterways.
Windsurfing on a lake or loch in the UK is now carefully monitored and some offical will no doubt ask you if you have Public Liability insurance at least. Why? Well if you cause damage to other craft or people they will want compensation for the damage you have caused. So insurance is not only sensible to have but also a requirement.
Your policy should also have Personal Accident as well as Personal belongings cover. Some policies offer Hire of Replacement equipment as well as Salvage charges being covered, in case you lose your gear. Remember your windsurfing equipment is costly and replacement prices are increasing all the time, so it is essential that you have insurance in place to cover this gear!
Using a sailboard in high winds is exciting. It is also extremely hard on all your equipment and the unexpected breakage or loss can occur, which will need to be bought out of your pocket. Unless you have the necessary windsurfing insurance in place!
Standard practise is to provide cover for accidental loss or damage, fire and theft. Your policy should include Public Liability insurance, as this is often a requirement before you are allowed on many inland waterways.
Windsurfing on a lake or loch in the UK is now carefully monitored and some offical will no doubt ask you if you have Public Liability insurance at least. Why? Well if you cause damage to other craft or people they will want compensation for the damage you have caused. So insurance is not only sensible to have but also a requirement.
Your policy should also have Personal Accident as well as Personal belongings cover. Some policies offer Hire of Replacement equipment as well as Salvage charges being covered, in case you lose your gear. Remember your windsurfing equipment is costly and replacement prices are increasing all the time, so it is essential that you have insurance in place to cover this gear!
Using a sailboard in high winds is exciting. It is also extremely hard on all your equipment and the unexpected breakage or loss can occur, which will need to be bought out of your pocket. Unless you have the necessary windsurfing insurance in place!
One Little Known Way to Save on Flood Insurance! Bet You'll Never Guess
A vast number of flood insurance policyholders are unaware of the discount Community Rating System (CRS) offered through the National Flood Insurance Program (NFIP) by FEMA; specifically, created to give participating communities direct discounts on policyholder's premiums.
One designation of the FEMA created CRS was to be used as an incentive program for communities around the nation to participate with the NFIP in order to take a more proactive stance against potential flooding within certain flood zones, as well as, an over all aggressive approach to floodplain management.
There are full compliance eligibility requirements for communities to be accepted and verified as a participant and which are regulated by FEMA.
The CRS is based upon a credit and classification system. There are 10 different classifications and every community starts with a Class 10 rating. From there, the community begins to gain credit points based on 18 different activities.
These 18 activities are divided into four main categories: Public Information, Mapping and Regulation, Flood Damage Reduction, and Flood Preparedness. FEMA sets the CRS classification based upon the credit points of each community.
This classification determines the premium discounts policyholders are entitled to. The premium discounts which should be applied to every policyholder's premiums range from 5 percent to 45 percent as recognition of the proactive floodplain management.
Hint: Over 80% of all property owners overpay for Flood Insurance!
During this economic crisis, which everyone is experiencing a budget crunch; it would be prudent of each flood insurance policyholder to request from their local agent a detail analysis of their premium calculation. Once received, the policyholder can inform their agent about the FEMA mandated discount structure and request a discount.
This is just one avenue to investigate to make sure that you the consumers are getting the best from the NFIP.
The 4 Simple Steps to follow to save on your insurance rates:
1. Request from your insurance agent a detail analysis of your premium calculation. Hint: Don't tell your agent why you want it!
2. Once you have your premium calculation in hand inform your agent of the FEMA mandated discount structure and request he/she look up the appropriate FEMA insurance discount so you can compare it to what you are actually paying.
3. Since you now know what you should be paying and if you are paying too much inform your insurance carrier (agent) and request the premium be lowered.
4. BIG HINT: You can also request a refund from your insurance carrier for overpayment.
You too can reduce your flood insurance costs, just take the time to follow these simple steps and enjoy!
Bet you never thought it possible to reduce, let alone Eliminate your expensive requirement for Flood Insurance. Did you?
Keep an eye open in upcoming articles as I will be explaining in a 2 part series or more in detail "How to Eliminate Your Flood Insurance Requirement". Just as a little teaser so you will stay up nights waiting for my upcoming lessons on Flood Insurance let me tell you I am batting 100%. That's Right! 100% of the time I have been able to Reduce or Eliminate your insurance requirement.
So...... if you want to Save Big on your Flood Insurance just watch for more "Ways to Save on Your Flood Insurance" and "How to Eliminate your Flood Insurance Requirement".
One designation of the FEMA created CRS was to be used as an incentive program for communities around the nation to participate with the NFIP in order to take a more proactive stance against potential flooding within certain flood zones, as well as, an over all aggressive approach to floodplain management.
There are full compliance eligibility requirements for communities to be accepted and verified as a participant and which are regulated by FEMA.
The CRS is based upon a credit and classification system. There are 10 different classifications and every community starts with a Class 10 rating. From there, the community begins to gain credit points based on 18 different activities.
These 18 activities are divided into four main categories: Public Information, Mapping and Regulation, Flood Damage Reduction, and Flood Preparedness. FEMA sets the CRS classification based upon the credit points of each community.
This classification determines the premium discounts policyholders are entitled to. The premium discounts which should be applied to every policyholder's premiums range from 5 percent to 45 percent as recognition of the proactive floodplain management.
Hint: Over 80% of all property owners overpay for Flood Insurance!
During this economic crisis, which everyone is experiencing a budget crunch; it would be prudent of each flood insurance policyholder to request from their local agent a detail analysis of their premium calculation. Once received, the policyholder can inform their agent about the FEMA mandated discount structure and request a discount.
This is just one avenue to investigate to make sure that you the consumers are getting the best from the NFIP.
The 4 Simple Steps to follow to save on your insurance rates:
1. Request from your insurance agent a detail analysis of your premium calculation. Hint: Don't tell your agent why you want it!
2. Once you have your premium calculation in hand inform your agent of the FEMA mandated discount structure and request he/she look up the appropriate FEMA insurance discount so you can compare it to what you are actually paying.
3. Since you now know what you should be paying and if you are paying too much inform your insurance carrier (agent) and request the premium be lowered.
4. BIG HINT: You can also request a refund from your insurance carrier for overpayment.
You too can reduce your flood insurance costs, just take the time to follow these simple steps and enjoy!
Bet you never thought it possible to reduce, let alone Eliminate your expensive requirement for Flood Insurance. Did you?
Keep an eye open in upcoming articles as I will be explaining in a 2 part series or more in detail "How to Eliminate Your Flood Insurance Requirement". Just as a little teaser so you will stay up nights waiting for my upcoming lessons on Flood Insurance let me tell you I am batting 100%. That's Right! 100% of the time I have been able to Reduce or Eliminate your insurance requirement.
So...... if you want to Save Big on your Flood Insurance just watch for more "Ways to Save on Your Flood Insurance" and "How to Eliminate your Flood Insurance Requirement".
Flood Damage Restoration
If you want flood damage restoration you can take care of the damage yourself or hire a restoration service to do the work for you. If the flood was a result of some thunderstorm or hurricane your insurance will only pay for it if you have the special flood insurance coverage, which is sold separately from a homeowners insurance policy.
Who pays if the damage is not from a natural occurrence? If this flood was a result of a faulty toilet, for example, you'll likely get a check from your home insurance company. If, for example, you knew that this toilet was faulty in the first place and did nothing about it, the insurance company won't cover you because it considers the damage as negligence on your part.
When cleaning up water, the main thing you have to worry about is mold and mildew growing after all of the water is sucked out. Once you get all the water out you can prevent mold and mildew from growing by drying out your house as much as possible. This would include cranking up the air conditioning, opening up the doors and windows, and using a dehumidifier. If some water got on your drywall, you may very well have to replace this drywall so that it doesn't start growing behind it.
If the flood damage is bad enough, go ahead and hire a restoration company. If you have a mild case of flooding, you can easily clean it up yourself with the help of some buckets, a shop vac, mop, and/or water pump.
Who pays if the damage is not from a natural occurrence? If this flood was a result of a faulty toilet, for example, you'll likely get a check from your home insurance company. If, for example, you knew that this toilet was faulty in the first place and did nothing about it, the insurance company won't cover you because it considers the damage as negligence on your part.
When cleaning up water, the main thing you have to worry about is mold and mildew growing after all of the water is sucked out. Once you get all the water out you can prevent mold and mildew from growing by drying out your house as much as possible. This would include cranking up the air conditioning, opening up the doors and windows, and using a dehumidifier. If some water got on your drywall, you may very well have to replace this drywall so that it doesn't start growing behind it.
If the flood damage is bad enough, go ahead and hire a restoration company. If you have a mild case of flooding, you can easily clean it up yourself with the help of some buckets, a shop vac, mop, and/or water pump.
How Do I Keep the Funnel Full of Prospects For My Insurance Agency?
How do I keep the funnel full of prospects for my insurance agency?
It's the age old question insurance agents have long been seeking the answer to.
We all know that insurance, financial services, and pretty much all of sales is a numbers game. It's what they teach you in sales training and it's what you read in all the best selling sales books. The more people you talk to, the more prospects you will find to get a quote. Of the number who get a quote, how many of them buy? These are the numbers and the ratios that you need to know. One of the hardest things to do though, is to get people into the sales funnel. How can I keep getting more prospects into the top end of the funnel? Put another way, how do you turn people into prospects more often?
Internet leads have proven to be an effective way for an insurance agent to get more people into the top end of the funnel and ultimately grow their agency. However, most agents forget this one crucial component to really maximizing the return on their investment in the leads. If you are paying for these leads and not following up again at their next renewal, you are missing a golden opportunity!
Let's say that you get one good lead per day, and you close roughly 1 in 6. If your closing ratio is not this high yet, don't worry. At the end of the month you would have written policies on about five new households. You now have 25 leads with policy renewal dates that you can begin marketing to. What happened to the other 25 leads that you didn't write a policy on? The prospect did one of two things. They either went with another company, or they did nothing, but something prompted the prospect to go online to request a quote from another provider. That's when you got the lead. You got in touch with the prospect and they let you give them a quote. Now, lets assume that your quote came in much higher, or they were ineligible with your company because of their claim history. It doesn't really matter. What matters is the fact that these leads are extremely valuable and should not be taken lightly. Too often, these leads are tossed in a folder with the hopes of following up sometime down the road. These were people who gave you all of their personal information. Most companies offer some type of leads management software where it will remind you when it's time to follow up with the prospect. Call them back in six months to try to quote it again.
One of the strongest reservations that agents have with internet leads is that at the same time their office is calling the prospect, so are three or four other insurance agencies. Six months later however, you will probably be the only one calling the prospect. You should have all of the "extremely valuable" quote information from the previous quote. Calling will let you know if the prospect actually switched carriers when you got the lead and possibly what you could have done differently to win the business. Maybe they switched to another company, but the application process was a nightmare or a billing mistake was made. The prospect may be anxious to switch again. If your internet lead follow up program is in place, you will be there to rescue them from their current carrier and grow your agency and your income.
It's the age old question insurance agents have long been seeking the answer to.
We all know that insurance, financial services, and pretty much all of sales is a numbers game. It's what they teach you in sales training and it's what you read in all the best selling sales books. The more people you talk to, the more prospects you will find to get a quote. Of the number who get a quote, how many of them buy? These are the numbers and the ratios that you need to know. One of the hardest things to do though, is to get people into the sales funnel. How can I keep getting more prospects into the top end of the funnel? Put another way, how do you turn people into prospects more often?
Internet leads have proven to be an effective way for an insurance agent to get more people into the top end of the funnel and ultimately grow their agency. However, most agents forget this one crucial component to really maximizing the return on their investment in the leads. If you are paying for these leads and not following up again at their next renewal, you are missing a golden opportunity!
Let's say that you get one good lead per day, and you close roughly 1 in 6. If your closing ratio is not this high yet, don't worry. At the end of the month you would have written policies on about five new households. You now have 25 leads with policy renewal dates that you can begin marketing to. What happened to the other 25 leads that you didn't write a policy on? The prospect did one of two things. They either went with another company, or they did nothing, but something prompted the prospect to go online to request a quote from another provider. That's when you got the lead. You got in touch with the prospect and they let you give them a quote. Now, lets assume that your quote came in much higher, or they were ineligible with your company because of their claim history. It doesn't really matter. What matters is the fact that these leads are extremely valuable and should not be taken lightly. Too often, these leads are tossed in a folder with the hopes of following up sometime down the road. These were people who gave you all of their personal information. Most companies offer some type of leads management software where it will remind you when it's time to follow up with the prospect. Call them back in six months to try to quote it again.
One of the strongest reservations that agents have with internet leads is that at the same time their office is calling the prospect, so are three or four other insurance agencies. Six months later however, you will probably be the only one calling the prospect. You should have all of the "extremely valuable" quote information from the previous quote. Calling will let you know if the prospect actually switched carriers when you got the lead and possibly what you could have done differently to win the business. Maybe they switched to another company, but the application process was a nightmare or a billing mistake was made. The prospect may be anxious to switch again. If your internet lead follow up program is in place, you will be there to rescue them from their current carrier and grow your agency and your income.
Sunday, August 2, 2009
Insurance Marketing - Why Bumper Stickers Work Best
The insurance industry is absolutely brilliant in marketing their products to people, and over the last 5-10 years they have taken a softer approach, and shunned all the fear tactics. Today, we have quaking ducks, talking Geckoes and Cave Men telling us to choose certain insurance companies or to go online to get a free-quote. Obviously, these insurance companies have an endless revenue stream and can afford the very best TV ads and creative geniuses to brand their companies.
Still, what can an insurance agency do locally to insure that they are in the minds of the consumers when it comes time for them to buy insurance? Believe it or not some of the low-tech advertising works the best. That's right, not websites, TV cable ads or some tricky advertising agency scheme, but really simple old style marketing. For instance, bumper stickers work extremely well, sometimes too well. How can a bumper sticker work too well, after all if it brings in customers it's all good right?
Sure, but local advertising agents that give away free insurance stickers at local business trade shows and county fairs find non-clients putting them on their cars. Thus, folks who do not even buy their insurance stick them on their bumpers, and each one of those insurance bumper stickers is worth as much as $200 in advertising, yet costs less than a $1.00 so you can see why it's such a worthy technique.
Creating a bumper sticker can cost as little as $30 for typesetting and about under a $1.00 a piece when you buy 250 or more, and with the economy down we've sure seen a number of discounts out there for this advertising and marketing venue lately. Please consider all this.
Still, what can an insurance agency do locally to insure that they are in the minds of the consumers when it comes time for them to buy insurance? Believe it or not some of the low-tech advertising works the best. That's right, not websites, TV cable ads or some tricky advertising agency scheme, but really simple old style marketing. For instance, bumper stickers work extremely well, sometimes too well. How can a bumper sticker work too well, after all if it brings in customers it's all good right?
Sure, but local advertising agents that give away free insurance stickers at local business trade shows and county fairs find non-clients putting them on their cars. Thus, folks who do not even buy their insurance stick them on their bumpers, and each one of those insurance bumper stickers is worth as much as $200 in advertising, yet costs less than a $1.00 so you can see why it's such a worthy technique.
Creating a bumper sticker can cost as little as $30 for typesetting and about under a $1.00 a piece when you buy 250 or more, and with the economy down we've sure seen a number of discounts out there for this advertising and marketing venue lately. Please consider all this.
Prospecting Success and Life Insurance Leads
Start here if you want more qualified life insurance leads and better prospecting results.
If you want to generate life insurance leads and have better success prospecting for insurance and financial plans, the the learning cycle can be significant, however there are number of steps that can reduce that learning curve.
It takes a very disciplined and hard working person to endure the life insurance sales job. There are many set backs and rejections, but those with the right attitude will attain great financial rewards.
Success in life insurance lead generation and improving your prospecting results requires constant promotion. You can use the old form of direct mail to bring leads into your business. Ensure that the envelope does not look like junk mail. Labels, and bulk mailings are easy to identify as 'junk' and therefore they get thrown out.
Your sales letter should persuade your prospect to either call or ask for more information.
Also, do not bore your prospect with how wonderful your company is. Always write assuming your prospect is thinking, 'What's In It For Me?"
Teleseminars are also a great prospecting and lead generation tool. Teleseminars are very cheap to operate and you can have hundreds of potential clients on the line at one time. Provide some good valuable information and then end with your sales pitch. The goal of the teleseminar is to get prospects to either buy from you or sign up to your mailing list.
Having a website is critical for success when prospecting for life insurance and generating qualified life insurance leads. You need to set up a lead capture form on your website to collect the email address of your prospects. Offer them something of value in return for their email.
Also, once you have their email address, start to send regular follow up emails. But do not use sales messages. Send quality information they can use. This establishes trust, credibility, and positions you as an expert.
A good rule of thumb is to send seven quality emails before asking for an appointment or a sale. For this reason, it's a good idea to have an auto responder series set up so you don't have to do it manually.
Write articles and post them on article directories is a little known lead generation tip. Many website owners will display the article on their website free of charge. This is free advertising for you. Ask local websites to post your articles, or test advertising on these sights.
Create articles and post them to article directories. This well get links into your sight and it will rank your site higher on the search engines. Ensure that the resource box contains the address to your sign up page, so you can capture the email address and follow up with life insurance and financial planning prospects.
Use a referral generation form on your website also. If someone goes to your website, the lead capture form allows them to enter their name and email address as well as the people they know. Again, this is a free form of prospecting but very effective. It's possible to double your life insurance and financial planning leads using this tip.
Create joint venture deals with other people in your industry. Ask them to promote your products and services to their customer list. This can bring you instant sales and create a huge mailing list that can be used for years to come.
Regardless of your current experience in the life insurance industry, the life insurance prospecting ideas above will give you an advantage over your competition and allow you to generate more leads and close more sales.
If you want to generate life insurance leads and have better success prospecting for insurance and financial plans, the the learning cycle can be significant, however there are number of steps that can reduce that learning curve.
It takes a very disciplined and hard working person to endure the life insurance sales job. There are many set backs and rejections, but those with the right attitude will attain great financial rewards.
Success in life insurance lead generation and improving your prospecting results requires constant promotion. You can use the old form of direct mail to bring leads into your business. Ensure that the envelope does not look like junk mail. Labels, and bulk mailings are easy to identify as 'junk' and therefore they get thrown out.
Your sales letter should persuade your prospect to either call or ask for more information.
Also, do not bore your prospect with how wonderful your company is. Always write assuming your prospect is thinking, 'What's In It For Me?"
Teleseminars are also a great prospecting and lead generation tool. Teleseminars are very cheap to operate and you can have hundreds of potential clients on the line at one time. Provide some good valuable information and then end with your sales pitch. The goal of the teleseminar is to get prospects to either buy from you or sign up to your mailing list.
Having a website is critical for success when prospecting for life insurance and generating qualified life insurance leads. You need to set up a lead capture form on your website to collect the email address of your prospects. Offer them something of value in return for their email.
Also, once you have their email address, start to send regular follow up emails. But do not use sales messages. Send quality information they can use. This establishes trust, credibility, and positions you as an expert.
A good rule of thumb is to send seven quality emails before asking for an appointment or a sale. For this reason, it's a good idea to have an auto responder series set up so you don't have to do it manually.
Write articles and post them on article directories is a little known lead generation tip. Many website owners will display the article on their website free of charge. This is free advertising for you. Ask local websites to post your articles, or test advertising on these sights.
Create articles and post them to article directories. This well get links into your sight and it will rank your site higher on the search engines. Ensure that the resource box contains the address to your sign up page, so you can capture the email address and follow up with life insurance and financial planning prospects.
Use a referral generation form on your website also. If someone goes to your website, the lead capture form allows them to enter their name and email address as well as the people they know. Again, this is a free form of prospecting but very effective. It's possible to double your life insurance and financial planning leads using this tip.
Create joint venture deals with other people in your industry. Ask them to promote your products and services to their customer list. This can bring you instant sales and create a huge mailing list that can be used for years to come.
Regardless of your current experience in the life insurance industry, the life insurance prospecting ideas above will give you an advantage over your competition and allow you to generate more leads and close more sales.
Individual Vision Insurance
Do you wear glasses or contacts? If so, you probably make periodic visits to the optometrist. Here you will have checkups and make sure your eyes are in good condition. They'll also give you a higher prescription for glasses or contact lenses as necessary. If you deal with this expense, you know that it can add up quickly.
Even if you don't have classes or contacts, that is no reason to skip the eye doctor visits. It's one thing to go less frequently, but it is another to go 10 or 20 years without going to the eye doctor. You shouldn't wait until you can't see well to get your eyes checked. That could cause more damage to your eyes. Also, you could have and I disease and not even know it. Don't take that chance.
In order to help you out with vision care, you may need to get individual vision insurance. First, check with your health insurance provider and see if you can get covered to their or if you already are covered. For example, if you get health insurance from your employer, you need to make sure and see if they cover version. If not, you may need to get separate individual vision insurance.
This will be another expense, but paying for insurance will most likely save you money over time than if you pay for each visit each time. Usually, you can get covered for an annual checkup as well as a certain amount of money towards new glasses or contacts each year. Each plan is different, check with your provider.
Even if you don't have classes or contacts, that is no reason to skip the eye doctor visits. It's one thing to go less frequently, but it is another to go 10 or 20 years without going to the eye doctor. You shouldn't wait until you can't see well to get your eyes checked. That could cause more damage to your eyes. Also, you could have and I disease and not even know it. Don't take that chance.
In order to help you out with vision care, you may need to get individual vision insurance. First, check with your health insurance provider and see if you can get covered to their or if you already are covered. For example, if you get health insurance from your employer, you need to make sure and see if they cover version. If not, you may need to get separate individual vision insurance.
This will be another expense, but paying for insurance will most likely save you money over time than if you pay for each visit each time. Usually, you can get covered for an annual checkup as well as a certain amount of money towards new glasses or contacts each year. Each plan is different, check with your provider.
Wednesday, July 22, 2009
Holiday Property Insurance
Holiday property insurance is the type of insurance policy that covers holiday property that you might own here in the UK or abroad. A holiday property can refer to a second home that you own, Chalets, Cabins or other property you might own that falls under that category. Once you have achieved the milestone of purchasing a holiday home or holiday cabin, it is essential to explore the options of protecting the investment through insurance.
Property owners generally buy insurance to protect themselves from financial loss should their property suffer unexpected damage in some way. An insurance policy for your holiday property will typically insure your property against accidental damage, certain liabilities and various other types of damage that you might find yourself responsible for. The specific items and incidents that you can make a claim on are usually laid out in writing in the policy that you choose.
Therefore, it is essential that you fully understand any policy that you sign up to. You wouldn't want to learn after a claim that you are not covered in the way that you might have assumed, so do ask questions. Your insurance representative should be able to explain anything that is unclear about your policy to you.
Sometimes covered by holiday property insurance:
Payouts to the sum of your policy
Public liability
Employer's liability
Additional accidental damage
Emergency travel to your property
Loss of rent following a claim
In addition to what is listed above, there are many other property features that a holiday property insurance policy could possibly cover. Since all insurance policies are unique, it is a good idea to read carefully through your policy to learn what is covered. If you have a holiday property that contains unique features that are not typical to the majority of holiday homes, you may need additional coverage. These are things that you would discuss in depth with an insurance representative.
Most property insurance policies have additional coverage that is optional. Your policy may actually have a section that is dedicated to addressing additional coverage and the options that are available to you outside of the basic policy. You might find that certain features of your property such as a swimming pool or garden furniture can be included and covered through buying additional insurance coverage on them. If there is specific coverage that you want that you don't find in the first few policies that you look at, you might have to shop around to find a policy that is flexible or specific enough to meet your needs.
Possible additional coverage:
Accidental damage
Garden ornaments and furniture
Replacement locks if keys are lost or stolen
Contents removed temporarily from building
& more
Ultimately, holiday properties vary in size, in value and in features. It is important to sign up to a holiday property insurance policy that will fully or closely meet your needs. In many cases, you will need to balance that out by purchasing the most coverage possible with your particular budget
Property owners generally buy insurance to protect themselves from financial loss should their property suffer unexpected damage in some way. An insurance policy for your holiday property will typically insure your property against accidental damage, certain liabilities and various other types of damage that you might find yourself responsible for. The specific items and incidents that you can make a claim on are usually laid out in writing in the policy that you choose.
Therefore, it is essential that you fully understand any policy that you sign up to. You wouldn't want to learn after a claim that you are not covered in the way that you might have assumed, so do ask questions. Your insurance representative should be able to explain anything that is unclear about your policy to you.
Sometimes covered by holiday property insurance:
Payouts to the sum of your policy
Public liability
Employer's liability
Additional accidental damage
Emergency travel to your property
Loss of rent following a claim
In addition to what is listed above, there are many other property features that a holiday property insurance policy could possibly cover. Since all insurance policies are unique, it is a good idea to read carefully through your policy to learn what is covered. If you have a holiday property that contains unique features that are not typical to the majority of holiday homes, you may need additional coverage. These are things that you would discuss in depth with an insurance representative.
Most property insurance policies have additional coverage that is optional. Your policy may actually have a section that is dedicated to addressing additional coverage and the options that are available to you outside of the basic policy. You might find that certain features of your property such as a swimming pool or garden furniture can be included and covered through buying additional insurance coverage on them. If there is specific coverage that you want that you don't find in the first few policies that you look at, you might have to shop around to find a policy that is flexible or specific enough to meet your needs.
Possible additional coverage:
Accidental damage
Garden ornaments and furniture
Replacement locks if keys are lost or stolen
Contents removed temporarily from building
& more
Ultimately, holiday properties vary in size, in value and in features. It is important to sign up to a holiday property insurance policy that will fully or closely meet your needs. In many cases, you will need to balance that out by purchasing the most coverage possible with your particular budget
Claims Process is Simplified!
Accidents can occur anywhere and at anytime. There are various causes for it. Road accidents may result due to rash driving or reckless driving. You may also end up meeting with an accident at workplace due to the negligence of the employer. Giving insufficient training to workers, not providing a safe and secure working environment can all lead to accidents.
In case, you or anyone known to you has met with an accident at the workplace, you can make a claim. Before making a claim, you must seek all the required information on making a claim. This will help you proceed with the case successfully. An accident claims company can provide the necessary guidance on how to make a claim.
Basically, these companies specialise in providing advice to those who have suffered an injury due to the negligence of someone. You can benefit from their expert advice. They will simplify the task of making a claim for you and help you get suitable compensation. Making a claim is not an easy task. You must have sufficient proof before you make a claim. This will help you recover the losses suffered within no time.
You can even approach an accident claims lawyer to make a claim. If you follow all the steps, you can successfully make a claim. You can also seek more information on making a claim by looking online. You need not run around to make a claim. From within the comfort of your house, you can seek all the required information about claims procedure.
Accident claims companies can provide the necessary guidance on how to make a claim. Solicitors can also guide you get suitable compensation. A team of well qualified advisers will provide the necessary guidance on making a claim. This will fasten up the entire procedure.
If you have been involved in an accident which has resulted in a whiplash injury, you must be extra careful. You can also discuss your case with whiplash claims solicitors. They can guide you make a suitable claim. You must understand that help is at hand. It is not difficult to recover the losses suffered if you proceed the right way.
You can get over any type of situation. If you know what needs to be done and how you must proceed with the case, you must not hesitate to seek help from solicitors. They can help you get the required guidance. Without wasting any further time, you must follow the required procedure.
In case, you or anyone known to you has met with an accident at the workplace, you can make a claim. Before making a claim, you must seek all the required information on making a claim. This will help you proceed with the case successfully. An accident claims company can provide the necessary guidance on how to make a claim.
Basically, these companies specialise in providing advice to those who have suffered an injury due to the negligence of someone. You can benefit from their expert advice. They will simplify the task of making a claim for you and help you get suitable compensation. Making a claim is not an easy task. You must have sufficient proof before you make a claim. This will help you recover the losses suffered within no time.
You can even approach an accident claims lawyer to make a claim. If you follow all the steps, you can successfully make a claim. You can also seek more information on making a claim by looking online. You need not run around to make a claim. From within the comfort of your house, you can seek all the required information about claims procedure.
Accident claims companies can provide the necessary guidance on how to make a claim. Solicitors can also guide you get suitable compensation. A team of well qualified advisers will provide the necessary guidance on making a claim. This will fasten up the entire procedure.
If you have been involved in an accident which has resulted in a whiplash injury, you must be extra careful. You can also discuss your case with whiplash claims solicitors. They can guide you make a suitable claim. You must understand that help is at hand. It is not difficult to recover the losses suffered if you proceed the right way.
You can get over any type of situation. If you know what needs to be done and how you must proceed with the case, you must not hesitate to seek help from solicitors. They can help you get the required guidance. Without wasting any further time, you must follow the required procedure.
Tuesday, July 21, 2009
Supplemental Disability Insurance
Sometimes at our jobs or anywhere, accidents happen. If you are hurt and put out of work, that can put a real strain on your finances. If you don't get paid for some kind of sick leave, that could mean months without making any money. If you live on your own, if it's even possible to survive, whereas if you look for the family, you may be cutting out a very important part of your family is support.
One way to account for this is disability insurance. Disability insurance, you can get the cash you need while you are out of work and you won't have to worry about finances like you would have otherwise. Check with your employer's insurance plan to see if you are covered for disability insurance. If you are self-employed, check with your plan to see if you get disability coverage.
Also, check carefully to see if you have the right amount of coverage. If you are not well covered, the amount of cash you can get a disability may be severely limited. In some cases you may not get anything if it is not the right situation. In this case, you may need supplemental disability insurance. This can help you get the right amount of insurance you need in case of a problem. Find a good provider that can help you get the supplemental disability insurance you need. Work with them closely to get the right coverage you need and even the small extra expense will be worth it. If you get into an accident, you'll be very glad you took care of this now
One way to account for this is disability insurance. Disability insurance, you can get the cash you need while you are out of work and you won't have to worry about finances like you would have otherwise. Check with your employer's insurance plan to see if you are covered for disability insurance. If you are self-employed, check with your plan to see if you get disability coverage.
Also, check carefully to see if you have the right amount of coverage. If you are not well covered, the amount of cash you can get a disability may be severely limited. In some cases you may not get anything if it is not the right situation. In this case, you may need supplemental disability insurance. This can help you get the right amount of insurance you need in case of a problem. Find a good provider that can help you get the supplemental disability insurance you need. Work with them closely to get the right coverage you need and even the small extra expense will be worth it. If you get into an accident, you'll be very glad you took care of this now
Recruiting Female Agents Has Its Benefits
Top 3 Reasons to Recruit Women:
1. Successful Interactions: Females are able to relate to other female clients and prospects, making it easier to understand their unique needs.
2. Strong Contacts: Women typically have a base of contacts, either within their former professions or within their communities. This can assist them in building solid practices.
3. Popular Demand: With so many agencies - small and large - targeting female agents, woman investors now have a choice to do business with an insurance company who meets their needs. If you're not meeting the need, you're losing business to a competitor that is.
Danica Patrick did it. Hilary Clinton did it. And now droves of females in the financial services industry are doing it - succeeding in what was once a man's world. As this male-dominated industry continues to change, so do those who represent it.
Recruit: Magnetic Attraction Despite female representation dwarfing in comparison to its male counterpart, the number of female insurance agents continues to grow year after year. In fact, several large financial firms are creating recruiting campaigns and initiatives based around attracting women .
The approach to recruit, support and retain female agents is evolving. More financial institutions are recognizing females as prime candidates. So much so that companies are competing for female talent. In order to stay competitive with its forward-thinking counterparts, companies must recruit and advance women. "Not only is it the right thing to do, but it's the smart thing to do, given the continuing emergence of women as a powerful economic force," said Heidi Spilotros, Director of Women's Recruiting for MassMutual. "It's also increasingly important for financial services companies to better understand women as prospects and clients, in order to serve this important market segment well."
MassMutual has been a pioneer in recruiting, retaining and helping females to succeed. But in order to help these individuals do well, you must first understand their needs and motivations. Perhaps no one is more familiar with what female agents desire than Spilotros, as she appreciates the innate need to achieve the ever-illusive work and family life balancing act. She traveled the nation - during her eighth month of pregnancy - to gain a better understanding of what women want.
MassMutual has been able to effectively attract female agents by emphasizing the positive attributes of a career as a financial services professional, specifically the challenge, entrepreneurial spirit, financial and personal rewards and flexibility. This top insurance company is so in tune with these needs that MassMutual was named a Working Mother's 100 Best Company by Working Mother Magazine in 2007.
While the financial services industry has made several strides in recent years as it relates to female candidates, progress has not penetrated throughout all organizations. According to Geoff Kaltenbach, Associate Managing Partner for Signature Resources in Irvine, CA, the insurance industry has not been successful in these arenas compared to other trades, such as pharmaceutical sales.
Kaltenbach's approach to recruiting talented females begins at the university level. His firm works with three sororities at two local universities to engage potential candidates for its internship program. This highly effective strategy has resulted in a tremendous source of referrals to the firm. In fact, many of its advisors and staff emerge from the internship program. "Start there (university level) because they know other people who have the same work ethic and that creates a nice center of talent," said Kaltenbach.
While Signature Resources recruits females, the firm actively seeks good candidates in general, regardless of their gender. There are, however, several benefits to hiring women. "Women can succeed in this business," insists Kaltenbach.
Typically, females in their mid to late twenties are more mature and empathetic, possess a stronger work ethic, and boast a better sense of fashion than their male counterparts, according to Kaltenbach. Additionally, many human resources directors are female and feel more comfortable dealing with the same sex. Therefore, female representation becomes even more valuable in building the business.
Often times, it is not a company that actively recruits an agent, but rather an individual recruiting her new place of employment. When a devastating car accident left the Wilkerson family in medical and financial distress, Julie Wilkerson left a successful career in sales and marketing to pursue new horizons. Surprised to learn that she had inadequate coverage, Wilkerson felt a personal obligation to educate others in areas where she had not been well-informed and decided that the best way to make a difference was in the insurance industry.
In the end, it was Colonial Life that was able to woo Wilkerson with its strong reputation in customer service satisfaction and vow to educate agents. However, Wilkerson did not commit to Colonial Life without first doing her homework on the supplemental insurance company. "What impressed me was the longevity of the agents who worked for Colonial Life," said Wilkerson. "I was looking for a company that nurtured its people."
Wilkerson's research paid off. Colonial Life offered the ethical element Wilkerson was looking for. "The ladies room buzz is pretty telling," said Wilkerson. "If you're pushing up your lipstick and hear agents discussing how wonderful their year was - not just financially, but from a people standpoint - it's rewarding. I feel honored to be in their company."
Support: Commitment For some agents, support refers to technology-based solutions and for others it is defined by emotional support.
Signature Resources supports its 100+ agents, 20 percent of which are female, with the proper tools to succeed. The company relies heavily on echoWealth, a web-based needs analysis program equipped with illustrated financial reports, motivating calculators and intelligent content. "It is our Wikipedia and it supports everything we do," said Kaltenbach. "Having something at your fingertips immediately for you and your client is the single most important thing we do."
Likewise, Wilkerson has been able to take advantage of the resources Colonial Life offers, such as a comprehensive website that answers questions ranging from the competition to specific policies; newsletters chalked full of sales techniques, product education and field agent-related anecdotes; and workshops and conferences.
While having the appropriate resources to advance your career and educate clients are necessary, other factors come into play when it comes to supporting the female agent, including integrity and the ability to balance a career and family life.
In order to build your business, you need a level of support. Additionally, you want to be sure that that level of support is coming from a reputable company. "I was not going to go snorkeling in a polluted pool," said Wilkerson who places a very high importance on company reputation. "I can speak with passion and sincerity about the company."
The suite of support services allows Wilkerson to be in business for herself but not by herself. From a flexibility standpoint, this career allows her to maintain a rewarding livelihood and family life. "I choose where I go, when I go and how I go," said Wilkerson.
Like Signature Resources and Colonial Life, MassMutual is supportive of all of its agents, regardless of gender. However, the company recognizes there are certain accommodations that are attractive to female associates. "Success begets success, so one of the best ways we can attract female agents is to show them how women who come to MassMutual can establish and grow great careers," said Spilotros. "Part of our success as an organization is attributable to the fact that we highlight and celebrate the achievements of our women advisors so that newer recruits can envision themselves in that position."
One of the ways in which the company demonstrates this is via its recruiting website where a female agent discusses her role in her words. Additionally, the company arranges for mentor programs; hosts an annual female agent conference focusing on challenges that are unique to women; and is actively involved in groups such as Women in Insurance and Financial Services (WIFS), an organization whose mission is to support, encourage and advance the success of women in the insurance and financial services industry.
In the end, the pay off of providing strong support manifests itself in stronger retention rates.
Retain: Keep the fire burning It's no secret that retention is an issue for many agencies.
However, by ensuring proper support is in place, retention comes more easily. For example, one retention method comes in the form of rewards. Like policies, rewards come in all different flavors. Whether commission based, bonus plan driven, verbal recognition, or offering flexible schedules, the rules of the game have changed.
For Wilkerson, rewards can be measured qualitatively. "Hard working women don't always get recognition and we all need a little encouragement," said Wilkerson. "I receive such good feedback from this company and the clients I serve."
However, others may view success quantitatively. Based on projected numbers, Signature Resources intends to retain its existing female agent base while expanding it to 30 to 40 percent in the coming years, as compared to roughly two percent a few years back.
Like Signature Resources, MassMutual has seen its female agents grow steady over the last eight years to 16%. In fact in 2007, women comprised 21% of the company's recruiting classes, a leading indicator of future growth of female agents within MassMutual. The company anticipates additional growth as it begins new initiatives to more effectively target women of all ethnicities and successfully transition them into a career. "To compete as a company in the future, we need to be able to serve the fast-growing market of women consumers, and need talented people - both men and women - to accomplish that," said Spilotros. "The more we can attract, retain and help succeed, the better off our company will be."
Like any relationship, females require excessive courting and attentive support. If not, divorce court could be right around the corner.
1. Successful Interactions: Females are able to relate to other female clients and prospects, making it easier to understand their unique needs.
2. Strong Contacts: Women typically have a base of contacts, either within their former professions or within their communities. This can assist them in building solid practices.
3. Popular Demand: With so many agencies - small and large - targeting female agents, woman investors now have a choice to do business with an insurance company who meets their needs. If you're not meeting the need, you're losing business to a competitor that is.
Danica Patrick did it. Hilary Clinton did it. And now droves of females in the financial services industry are doing it - succeeding in what was once a man's world. As this male-dominated industry continues to change, so do those who represent it.
Recruit: Magnetic Attraction Despite female representation dwarfing in comparison to its male counterpart, the number of female insurance agents continues to grow year after year. In fact, several large financial firms are creating recruiting campaigns and initiatives based around attracting women .
The approach to recruit, support and retain female agents is evolving. More financial institutions are recognizing females as prime candidates. So much so that companies are competing for female talent. In order to stay competitive with its forward-thinking counterparts, companies must recruit and advance women. "Not only is it the right thing to do, but it's the smart thing to do, given the continuing emergence of women as a powerful economic force," said Heidi Spilotros, Director of Women's Recruiting for MassMutual. "It's also increasingly important for financial services companies to better understand women as prospects and clients, in order to serve this important market segment well."
MassMutual has been a pioneer in recruiting, retaining and helping females to succeed. But in order to help these individuals do well, you must first understand their needs and motivations. Perhaps no one is more familiar with what female agents desire than Spilotros, as she appreciates the innate need to achieve the ever-illusive work and family life balancing act. She traveled the nation - during her eighth month of pregnancy - to gain a better understanding of what women want.
MassMutual has been able to effectively attract female agents by emphasizing the positive attributes of a career as a financial services professional, specifically the challenge, entrepreneurial spirit, financial and personal rewards and flexibility. This top insurance company is so in tune with these needs that MassMutual was named a Working Mother's 100 Best Company by Working Mother Magazine in 2007.
While the financial services industry has made several strides in recent years as it relates to female candidates, progress has not penetrated throughout all organizations. According to Geoff Kaltenbach, Associate Managing Partner for Signature Resources in Irvine, CA, the insurance industry has not been successful in these arenas compared to other trades, such as pharmaceutical sales.
Kaltenbach's approach to recruiting talented females begins at the university level. His firm works with three sororities at two local universities to engage potential candidates for its internship program. This highly effective strategy has resulted in a tremendous source of referrals to the firm. In fact, many of its advisors and staff emerge from the internship program. "Start there (university level) because they know other people who have the same work ethic and that creates a nice center of talent," said Kaltenbach.
While Signature Resources recruits females, the firm actively seeks good candidates in general, regardless of their gender. There are, however, several benefits to hiring women. "Women can succeed in this business," insists Kaltenbach.
Typically, females in their mid to late twenties are more mature and empathetic, possess a stronger work ethic, and boast a better sense of fashion than their male counterparts, according to Kaltenbach. Additionally, many human resources directors are female and feel more comfortable dealing with the same sex. Therefore, female representation becomes even more valuable in building the business.
Often times, it is not a company that actively recruits an agent, but rather an individual recruiting her new place of employment. When a devastating car accident left the Wilkerson family in medical and financial distress, Julie Wilkerson left a successful career in sales and marketing to pursue new horizons. Surprised to learn that she had inadequate coverage, Wilkerson felt a personal obligation to educate others in areas where she had not been well-informed and decided that the best way to make a difference was in the insurance industry.
In the end, it was Colonial Life that was able to woo Wilkerson with its strong reputation in customer service satisfaction and vow to educate agents. However, Wilkerson did not commit to Colonial Life without first doing her homework on the supplemental insurance company. "What impressed me was the longevity of the agents who worked for Colonial Life," said Wilkerson. "I was looking for a company that nurtured its people."
Wilkerson's research paid off. Colonial Life offered the ethical element Wilkerson was looking for. "The ladies room buzz is pretty telling," said Wilkerson. "If you're pushing up your lipstick and hear agents discussing how wonderful their year was - not just financially, but from a people standpoint - it's rewarding. I feel honored to be in their company."
Support: Commitment For some agents, support refers to technology-based solutions and for others it is defined by emotional support.
Signature Resources supports its 100+ agents, 20 percent of which are female, with the proper tools to succeed. The company relies heavily on echoWealth, a web-based needs analysis program equipped with illustrated financial reports, motivating calculators and intelligent content. "It is our Wikipedia and it supports everything we do," said Kaltenbach. "Having something at your fingertips immediately for you and your client is the single most important thing we do."
Likewise, Wilkerson has been able to take advantage of the resources Colonial Life offers, such as a comprehensive website that answers questions ranging from the competition to specific policies; newsletters chalked full of sales techniques, product education and field agent-related anecdotes; and workshops and conferences.
While having the appropriate resources to advance your career and educate clients are necessary, other factors come into play when it comes to supporting the female agent, including integrity and the ability to balance a career and family life.
In order to build your business, you need a level of support. Additionally, you want to be sure that that level of support is coming from a reputable company. "I was not going to go snorkeling in a polluted pool," said Wilkerson who places a very high importance on company reputation. "I can speak with passion and sincerity about the company."
The suite of support services allows Wilkerson to be in business for herself but not by herself. From a flexibility standpoint, this career allows her to maintain a rewarding livelihood and family life. "I choose where I go, when I go and how I go," said Wilkerson.
Like Signature Resources and Colonial Life, MassMutual is supportive of all of its agents, regardless of gender. However, the company recognizes there are certain accommodations that are attractive to female associates. "Success begets success, so one of the best ways we can attract female agents is to show them how women who come to MassMutual can establish and grow great careers," said Spilotros. "Part of our success as an organization is attributable to the fact that we highlight and celebrate the achievements of our women advisors so that newer recruits can envision themselves in that position."
One of the ways in which the company demonstrates this is via its recruiting website where a female agent discusses her role in her words. Additionally, the company arranges for mentor programs; hosts an annual female agent conference focusing on challenges that are unique to women; and is actively involved in groups such as Women in Insurance and Financial Services (WIFS), an organization whose mission is to support, encourage and advance the success of women in the insurance and financial services industry.
In the end, the pay off of providing strong support manifests itself in stronger retention rates.
Retain: Keep the fire burning It's no secret that retention is an issue for many agencies.
However, by ensuring proper support is in place, retention comes more easily. For example, one retention method comes in the form of rewards. Like policies, rewards come in all different flavors. Whether commission based, bonus plan driven, verbal recognition, or offering flexible schedules, the rules of the game have changed.
For Wilkerson, rewards can be measured qualitatively. "Hard working women don't always get recognition and we all need a little encouragement," said Wilkerson. "I receive such good feedback from this company and the clients I serve."
However, others may view success quantitatively. Based on projected numbers, Signature Resources intends to retain its existing female agent base while expanding it to 30 to 40 percent in the coming years, as compared to roughly two percent a few years back.
Like Signature Resources, MassMutual has seen its female agents grow steady over the last eight years to 16%. In fact in 2007, women comprised 21% of the company's recruiting classes, a leading indicator of future growth of female agents within MassMutual. The company anticipates additional growth as it begins new initiatives to more effectively target women of all ethnicities and successfully transition them into a career. "To compete as a company in the future, we need to be able to serve the fast-growing market of women consumers, and need talented people - both men and women - to accomplish that," said Spilotros. "The more we can attract, retain and help succeed, the better off our company will be."
Like any relationship, females require excessive courting and attentive support. If not, divorce court could be right around the corner.
How to Buy Life Insurance Sales Leads Online and Increase Sales
Life insurance sales leads with potential customers that are really interested in the policies you have to offer are invaluable, right? They don't come along too often, but the market has just gotten bigger for you. If you decide to purchase some of your leads online you will increase your overall sales and pull in extra profit for your bank account.
Who are the easiest customers to sell on life insurance? Those who are already interested and seriously considering purchasing this coverage, of course! That is exactly what you are paying for when you buy your leads online.
So, where do these great leads come from and why have you not found them on your own for free? It is all a result of the rapidly growing online community. People are going online looking for more information on literally everything that is on their mind, and that includes looking for information and rates for life insurance.
Some very smart websites are presenting the information these consumers are interested in finding and then collecting contact information for interested parties. They are then in the perfect position to sell off this information to insurance agents who can help them secure the policies they are searching for. You in turn get direct access to interested customers.
The smart people collecting this information knows how valuable their leads are, and now agents like yourself are realizing it as well. Their leads will deliver more sales on your end, which will in turn mean more money lining your pockets.
Why should you continue to chase random people who mostly will have no interest in what you have to offer? Why not just chase down warm leads to consumers who have a very real interest in life insurance?
In the big scheme of things, it is a small feat to buy life insurance sales leads through the Internet. Yet in the end, it will pay off with more sales and larger profit margins.
Earn the Best Price on Your Car and Insurance
A study conducted by Sainsbury's Finance reveals that motorists were able to collectively overpay by nearly £200 million due to the fact that they're neglecting to haggle over the cost of a brand-new automobile. Worryingly, this might have long term consequences for their auto insurance premiums too.
The study determined that of the 1.33 million individuals thinking of purchasing an automobile between February and July 2009, approximately 117,000 claim they don't plan to haggle the cost they pay. This is in spite of the fact that rebates might be assured in the neighborhood of fifty percent with a few hotshot negotiations.
What is more is that neglecting to cut down the cost of a new automobile will at the same time have a harmful effect on your automobile insurance premiums as providers structure their prices based on the price of replacing the car in the case of a write-off. If you measure your vehicle at a more expensive price, you are probably going to pay a lot more on your auto insurance premiums.
It's feasible to earn many bonuses and extras from car dealers, especially because they really want to make a deal during a rough time in the auto industry. At the same time, it is deserving of thinking of the long-term consequences of your negotiations on your auto insurance.
For instance, requesting a dealer to add alloy wheels, boosted hydraulics or tinted windows within the price of a car purchase is a great money saver. However, almost all car modifications will knock up auto insurance premiums because they represent extra risk to insurers as parts are possibly hard to replace, and they might make the car a lot more attractive to criminals.
Many dealerships are conformable offering 12 months of free gas, car insurance or even road tax as a piece of the deal. This could really be worth taking advantage of because the amount of money you save could be significant - but make certain you're not connected to an auto insurance deal past the 1st twelve months.
Sunday, July 19, 2009
Finding Good Life Insurance
I think we've all seen enough tragic movies to know the importance of making sure our loved ones are taken care of when we move on. Right? What happens to them if you are suddenly taken from this world when you're young and are the only income in your household?
That's the case with a number of homes even today. Sure, gone is the "rule" that the man works and the woman stays at home. We live in a wonderful country where equality is actually approaching the point of deserving the root word of "equal". So, having said that, there are millions of homes in which either only the wife is working or only the husband is working. Many are bringing in great salaries, and the other spouse gets to stay at home. Fantastic. But what happens if the working woman passes away?
We just can't leave our spouses and children with nothing but our savings. Please make it a point to sign up for that life insurance policy as soon as you start a new job. Maybe it's not the best one, sure. So sign up and then start shopping around. Speaking from experience, it's a great feeling knowing that should my fragile life be taken at any given moment, my daughter will not have to get a job at fifteen years old, you know?
It's our responsibility as parents to provide a future for our kids. We all know that. But if we're not here, what can we do? We can get a good life insurance policy and arrange placement of our children and get it in writing.
That's the case with a number of homes even today. Sure, gone is the "rule" that the man works and the woman stays at home. We live in a wonderful country where equality is actually approaching the point of deserving the root word of "equal". So, having said that, there are millions of homes in which either only the wife is working or only the husband is working. Many are bringing in great salaries, and the other spouse gets to stay at home. Fantastic. But what happens if the working woman passes away?
We just can't leave our spouses and children with nothing but our savings. Please make it a point to sign up for that life insurance policy as soon as you start a new job. Maybe it's not the best one, sure. So sign up and then start shopping around. Speaking from experience, it's a great feeling knowing that should my fragile life be taken at any given moment, my daughter will not have to get a job at fifteen years old, you know?
It's our responsibility as parents to provide a future for our kids. We all know that. But if we're not here, what can we do? We can get a good life insurance policy and arrange placement of our children and get it in writing.
An Introductory Guide to Life Cover
Having life insurance in place is one way that you can provide yourself and your family with peace of mind in the event of your death. There are two main types of life insurance cover available in the UK.
What are they?
Level term life insurance - This product has a level fixed sum assured amount (the 'sum assured' is the amount paid out under the policy in the event of your death). This can be used for those people who wish to not only cover their outstanding mortgage balances but can also add in such factors as: other personal debts, a second charge on the property for example. It can also be used to create a fund for living expenses for those left behind.
This can be a preferred option for many families where there is a single main income earner. The sum assured under a level term insurance typically does not decrease over time and is fixed for the duration of the policy.
Mortgage protection life insurance - As the name suggests, this policy is tied to a mortgage that you may have on your home. Mortgage life policies may also be known as decreasing term assurance, which means that the amount of cover will fall in line with the amount outstanding on your mortgage. In the event of your death, the policy will typically pay off the balance of the mortgage.
What does it cover?
As mentioned above, level term life insurance can cover a fixed term amount that, if paid out, can be used as the beneficiary sees fit. This could include mortgage balance repayment, and paying off debts etc. Mortgage life insurance on the other hand goes directly to clear your mortgage debt in the event of your death.
Why do I need it?
Mortgage life cover may be required by mortgage lenders before they will lend you money to buy a house. They see life insurance as a protection insurance against the money they lend you in the event of your death. Now while that sounds morbid, the policy also works in your favour. This is because, in the event of the policy being paid out, the surviving partner will no longer have to find the mortgage payment each month and this can mean keeping the roof over their head.
Level term insurance is normally a lifestyle choice. As well as covering a mortgage, if you wish to provide for your family in the event of your demise by leaving a lump sum, then a level term life product may be the right option for you.
It should also be said that once you have taken out a life insurance policy, it is not cast in stone, you can still shop around in a few years time to see if cheaper cover is now available. Or your circumstances might have changed, perhaps by moving to a bigger house, or having a new addition to the family. These types of life events can mean that you should consider revisiting your cover levels.
On this basis, you may wish to consider talking to a specialist that can search the market for you and assist you to find the best product to suit your personal circumstances, be it a mortgage life cover product or a level term insurance offering.
What are they?
Level term life insurance - This product has a level fixed sum assured amount (the 'sum assured' is the amount paid out under the policy in the event of your death). This can be used for those people who wish to not only cover their outstanding mortgage balances but can also add in such factors as: other personal debts, a second charge on the property for example. It can also be used to create a fund for living expenses for those left behind.
This can be a preferred option for many families where there is a single main income earner. The sum assured under a level term insurance typically does not decrease over time and is fixed for the duration of the policy.
Mortgage protection life insurance - As the name suggests, this policy is tied to a mortgage that you may have on your home. Mortgage life policies may also be known as decreasing term assurance, which means that the amount of cover will fall in line with the amount outstanding on your mortgage. In the event of your death, the policy will typically pay off the balance of the mortgage.
What does it cover?
As mentioned above, level term life insurance can cover a fixed term amount that, if paid out, can be used as the beneficiary sees fit. This could include mortgage balance repayment, and paying off debts etc. Mortgage life insurance on the other hand goes directly to clear your mortgage debt in the event of your death.
Why do I need it?
Mortgage life cover may be required by mortgage lenders before they will lend you money to buy a house. They see life insurance as a protection insurance against the money they lend you in the event of your death. Now while that sounds morbid, the policy also works in your favour. This is because, in the event of the policy being paid out, the surviving partner will no longer have to find the mortgage payment each month and this can mean keeping the roof over their head.
Level term insurance is normally a lifestyle choice. As well as covering a mortgage, if you wish to provide for your family in the event of your demise by leaving a lump sum, then a level term life product may be the right option for you.
It should also be said that once you have taken out a life insurance policy, it is not cast in stone, you can still shop around in a few years time to see if cheaper cover is now available. Or your circumstances might have changed, perhaps by moving to a bigger house, or having a new addition to the family. These types of life events can mean that you should consider revisiting your cover levels.
On this basis, you may wish to consider talking to a specialist that can search the market for you and assist you to find the best product to suit your personal circumstances, be it a mortgage life cover product or a level term insurance offering.
Cash Value Life Insurance - This is Very Important - Whole Insurance and Its Benefits!
Are you considering getting some protection so that if you leave this world your family will not have to worry about the financial implications it could have upon them? Do you want to make sure that your family is protected and will live comfortably when you are gone? You will want to consider getting a cash value life insurance policy instead of one that is just a term policy. Here are the benefits of this type of insurance.
First, if you were to go with one of the lowest rates you can find online it will probably be term insurance. This is what they advertise for a few dollars month and that is because if holds absolutely no value in cash for you or your family. This is more for someone that is young and single that just wants to make sure that their family is protected if there was a catastrophe. If you want a cash value life insurance you are looking for a whole insurance policy.
Second, with a cash value life insurance you will be getting protection for your family along with something that can be there for emergencies during your life here. You see as you pay your premium every month you will be building value in your policy and it can be cashed in at any time to help you with any sort of financial crisis. It is a nice little protection blanket to have and it usually pays out much better to your family if you do pass on.
Last, when making the decision to get life insurance you must do your research and make sure you compare many different quotes from the term side and the whole side. This can be done very easily right online with a website that does comparison quotes. They will give you the price monthly, the term, the coverage amount, and how it will pay out if you pass. This is the type of information you need in order to make a good and sound decision about your policy
First, if you were to go with one of the lowest rates you can find online it will probably be term insurance. This is what they advertise for a few dollars month and that is because if holds absolutely no value in cash for you or your family. This is more for someone that is young and single that just wants to make sure that their family is protected if there was a catastrophe. If you want a cash value life insurance you are looking for a whole insurance policy.
Second, with a cash value life insurance you will be getting protection for your family along with something that can be there for emergencies during your life here. You see as you pay your premium every month you will be building value in your policy and it can be cashed in at any time to help you with any sort of financial crisis. It is a nice little protection blanket to have and it usually pays out much better to your family if you do pass on.
Last, when making the decision to get life insurance you must do your research and make sure you compare many different quotes from the term side and the whole side. This can be done very easily right online with a website that does comparison quotes. They will give you the price monthly, the term, the coverage amount, and how it will pay out if you pass. This is the type of information you need in order to make a good and sound decision about your policy
Saturday, July 18, 2009
What is Decreasing Term Life Insurance and Does it Hurt Or Help You?
There seems to be a ton of choices for life insurance, and many simply wonder whether to get a term or whole policy, but those who decide on going with term have even more choices to deal with. Term doesn't just come in one form, and the most prominent type being decreasing term life insurance.
Decreasing term life insurance is not easy to understand at first, but with some simple explanations it should all become clear. In exchange for a fixed and low premium rate, the amount of coverage actually goes down year by year.
So say you take out a five year policy for 15,000 dollars. After the first year, in most cases your coverage will decrease by the sum of the coverage divided by the years the policy is for. So with a 15,000 dollar policy over a five year period, your coverage will go down by 3000 dollars each year -- year two will be 12,000, year three will be 9,000 and etc..
One may debate the usefulness of decreasing term life insurance, but it is extremely useful for covering children or persons who are or may soon be in critical health condition. Of course, there is the common need for security that many people fulfill by taking out a life insurance policy. So there are uses for it, but deciding on decreasing term life insurance should be chosen in only special circumstances or in times of financial instability due to the extremely low costs.
But how do you find rates for decreasing term insurance? You could run a search through your preferred search engine to find sites who scan insurance companies and their rates. But the preferred method of receiving decreasing coverage is to have a physical consultation with an insurance agent, for a few reasons.
Requesting the services of an insurance professional give you the information and the opinion you need to decide whether decreasing is the type of life annuities you need. Once determined, you will be given a wide variety of choices of providers and their coverage plans as well as their rates. Doing it online is simple, but receiving the assistance of a human being who is experienced in the field can not be replaced.
If you do enter into a decreasing term life insurance policy, take care not to forget the rate at which the insurance's benefit climbs down. Forgetting could leave your loved ones in an even worse situation should you have an accident.
Decreasing term life insurance is not easy to understand at first, but with some simple explanations it should all become clear. In exchange for a fixed and low premium rate, the amount of coverage actually goes down year by year.
So say you take out a five year policy for 15,000 dollars. After the first year, in most cases your coverage will decrease by the sum of the coverage divided by the years the policy is for. So with a 15,000 dollar policy over a five year period, your coverage will go down by 3000 dollars each year -- year two will be 12,000, year three will be 9,000 and etc..
One may debate the usefulness of decreasing term life insurance, but it is extremely useful for covering children or persons who are or may soon be in critical health condition. Of course, there is the common need for security that many people fulfill by taking out a life insurance policy. So there are uses for it, but deciding on decreasing term life insurance should be chosen in only special circumstances or in times of financial instability due to the extremely low costs.
But how do you find rates for decreasing term insurance? You could run a search through your preferred search engine to find sites who scan insurance companies and their rates. But the preferred method of receiving decreasing coverage is to have a physical consultation with an insurance agent, for a few reasons.
Requesting the services of an insurance professional give you the information and the opinion you need to decide whether decreasing is the type of life annuities you need. Once determined, you will be given a wide variety of choices of providers and their coverage plans as well as their rates. Doing it online is simple, but receiving the assistance of a human being who is experienced in the field can not be replaced.
If you do enter into a decreasing term life insurance policy, take care not to forget the rate at which the insurance's benefit climbs down. Forgetting could leave your loved ones in an even worse situation should you have an accident.
Life Insurance - A Good Way to Secure the Future of Your Family!
Most of us want to live forever, but it is inevitable that we have to die one day. So it is very important for of us to made suitable arrangement to secure the future of our family members. Life Insurance is a best one of the best mediums through which we can ensure the safety and security of our loved ones. There are many insurances policies available in the market but firstly you have to consider what sought of cover you need. Now-a-days, to find a life cover is very easy as there are many websites which are giving full information about various insurance plans and schemes. But here, in this article, we are providing you the information of two most popular policies namely Permanent Insurance and Term insurance. However, it is totally up to you to decide which policy would suit your needs and requirement.
In the permanent insurance policies, the premium costs are normally low and these types of policies and it is not constrained for a specific period of time. The permanent policy offer many benefits to the policy holder, if he or she continues to pay premium over a period of time. On the other hand, term insurance policy provide different benefits in the case of sudden and death and provide cash to the policy holder to cover the ongoing expenses during the lifetime. This type of policy is suitable for those families who have little or no established security. A term life insurance is meant to offer financial help to your family after your demise. You can also change your term policy to permanent insurance policy after it has been purchased. A term insurance policy is like leasing something as you have it for a specific period of time.
However, if you have decided to own a Life Insurance policy then it is quite possible that insurance company may ask to undergo a medical test. These tests are carried out by certified health professionals and you may expect following things during medical examinations like blood test, weight and height measurement etc. Sometimes, insurance companies also ask different questions from policy seekers which include question relating to personal medical history, contact number of your personal doctor and information about your lifestyle habits as well like drinking or smoking habits. Our life is so unpredictable and no one knows what is going to happen next days. So it is advisable to provide some cover to the family members by owning a suitable life insurance policy.
In the permanent insurance policies, the premium costs are normally low and these types of policies and it is not constrained for a specific period of time. The permanent policy offer many benefits to the policy holder, if he or she continues to pay premium over a period of time. On the other hand, term insurance policy provide different benefits in the case of sudden and death and provide cash to the policy holder to cover the ongoing expenses during the lifetime. This type of policy is suitable for those families who have little or no established security. A term life insurance is meant to offer financial help to your family after your demise. You can also change your term policy to permanent insurance policy after it has been purchased. A term insurance policy is like leasing something as you have it for a specific period of time.
However, if you have decided to own a Life Insurance policy then it is quite possible that insurance company may ask to undergo a medical test. These tests are carried out by certified health professionals and you may expect following things during medical examinations like blood test, weight and height measurement etc. Sometimes, insurance companies also ask different questions from policy seekers which include question relating to personal medical history, contact number of your personal doctor and information about your lifestyle habits as well like drinking or smoking habits. Our life is so unpredictable and no one knows what is going to happen next days. So it is advisable to provide some cover to the family members by owning a suitable life insurance policy.
Life Insurance Policy Provisions - What Your Policy Does For You
Life insurance policy provisions. Most of us tend not to pay sufficient attention to the details of a life insurance policy until someone dies or until we are in dire need of some cash. The thinking goes something like this. My husband is dead, he did mention that he had some life insurance, I wonder how much? I do need some cash, how does the insurance company pay out the policy proceeds? Was I named as beneficiary or were our children named? These are just a few of the questions that may come to mind. Let us find out what your policy does in this type of situation.
The Policy Contract
One of the most important provisions of your life insurance policy is the contract itself. This states that upon the death of the insured a certain sum will be paid to a named beneficiary. In family situations the proceeds are usually paid to the spouse or adult child. In business situations the death benefit will be payable to the business itself, a partner or shareholders. This sum of money can be paid in one lump sum or in income form.
Another important contractual agreement is the incontestability clause which simply states that if, for example, you give the life insurance company any false information they have the right to withdraw the policy or contest it upon death. There is a limited period in which this policy can be contested, usually 2 years.
This incontestability clause also applies to suicide as well. If an applicant buys a policy with the express intent of committing suicide they can forget about it. If suicide is committed within the contestability period the amount paid will be limited to premiums paid plus interest. If suicide occurs after the contestability period, usually 2 years, the life insurance company will pay the full sum.
Another provision in your policy worth your consideration is the misstatement of age clause. If you misstate your age on your application form the amount paid upon death will be limited to the amount of coverage your premium would have bought at the correct age.
Ownership Of The Document
The owner of the life insurance policy is usually the applicant even if the coverage is on another persons life. A parent would own a policy on a child, a spouse may own a policy on his or her partner, a business may own insurance on a partner, shareholder or employee. Whenever the insured is of age, is not a minor, this person must approve of the policy being purchased on his or her life. This insured must complete the medical part of the application and sign it.
Premium Payment And Reinstatement
The owner of the policy is required to pay the premiums at the required time whether it be monthly, quarterly, semi-annually or yearly. Failure to do so will put the policy in a state of lapse after 31 days. If premiums are paid annually, for example, and the insured should die after one month the beneficiary will receive the balance of the years premium together with the face amount of the policy.
If the policy goes into a state of lapse it may be reinstated by paying the missed premiums or by redating the policy. If the owner chooses to redate s/he should be aware that this action may put him or her into a higher premium rate as s/he will be older. The company may also require a medical exam in order to put the life insurance policy back in force.
Beneficiaries
There are 3 levels of beneficiaries in your life insurance policy. First there is the primary beneficiary. This is the person to whom the proceeds of the policy will be paid. If the primary beneficiary should die before the insured and if the insured has not changed or named someone else as beneficiary before his or her death the benefits will be paid to a named contingent beneficiary.
As a safety net you also can name what is commonly referred to as further payees. In other words, if the primary beneficiary as well as the contingent should die before the insured the proceeds would go to further payees, as per the contract.
These general policy provisions may apply to all life insurance policies. If, however, your policy is a permanent one there are additional provisions that would apply.
The Policy Contract
One of the most important provisions of your life insurance policy is the contract itself. This states that upon the death of the insured a certain sum will be paid to a named beneficiary. In family situations the proceeds are usually paid to the spouse or adult child. In business situations the death benefit will be payable to the business itself, a partner or shareholders. This sum of money can be paid in one lump sum or in income form.
Another important contractual agreement is the incontestability clause which simply states that if, for example, you give the life insurance company any false information they have the right to withdraw the policy or contest it upon death. There is a limited period in which this policy can be contested, usually 2 years.
This incontestability clause also applies to suicide as well. If an applicant buys a policy with the express intent of committing suicide they can forget about it. If suicide is committed within the contestability period the amount paid will be limited to premiums paid plus interest. If suicide occurs after the contestability period, usually 2 years, the life insurance company will pay the full sum.
Another provision in your policy worth your consideration is the misstatement of age clause. If you misstate your age on your application form the amount paid upon death will be limited to the amount of coverage your premium would have bought at the correct age.
Ownership Of The Document
The owner of the life insurance policy is usually the applicant even if the coverage is on another persons life. A parent would own a policy on a child, a spouse may own a policy on his or her partner, a business may own insurance on a partner, shareholder or employee. Whenever the insured is of age, is not a minor, this person must approve of the policy being purchased on his or her life. This insured must complete the medical part of the application and sign it.
Premium Payment And Reinstatement
The owner of the policy is required to pay the premiums at the required time whether it be monthly, quarterly, semi-annually or yearly. Failure to do so will put the policy in a state of lapse after 31 days. If premiums are paid annually, for example, and the insured should die after one month the beneficiary will receive the balance of the years premium together with the face amount of the policy.
If the policy goes into a state of lapse it may be reinstated by paying the missed premiums or by redating the policy. If the owner chooses to redate s/he should be aware that this action may put him or her into a higher premium rate as s/he will be older. The company may also require a medical exam in order to put the life insurance policy back in force.
Beneficiaries
There are 3 levels of beneficiaries in your life insurance policy. First there is the primary beneficiary. This is the person to whom the proceeds of the policy will be paid. If the primary beneficiary should die before the insured and if the insured has not changed or named someone else as beneficiary before his or her death the benefits will be paid to a named contingent beneficiary.
As a safety net you also can name what is commonly referred to as further payees. In other words, if the primary beneficiary as well as the contingent should die before the insured the proceeds would go to further payees, as per the contract.
These general policy provisions may apply to all life insurance policies. If, however, your policy is a permanent one there are additional provisions that would apply.
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