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
Wednesday, July 22, 2009
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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