Term Vs Whole Life Insurance Policies – The First Question That You Need To Answer

When you begin your search for a life insurance policy, one of the first questions you\’ll need to answer is whether you want a term policy or a whole policy. It\’s an important question you can only answer if you know the basics about each kind of life insurance.

Term life only lasts for the length of the term. It can be a year, 10 years, or 30 years, depending on the policy you purchase. Most people purchase 10, 20, or 30 year policies. However a term policy does not earn money. It only pays if you die during the term of the contract, and the only way you\’ll see any refund from it is if you pay all of your premiums. A term policy may be the best choice for you while you\’re raising children or if you have a lot of debts that will need to be settled if you die before they\’re paid off.

Whole life is basically an investment, both in your future and in the future of your beneficiaries. It provides coverage for your entire life, assuming you die before the age of 100. However, if you do live past 100, then you\’ll get a nice check in the mail for the entire cash value of the policy. So no matter when you die, you or your beneficiaries are still guaranteed a nice chunk of change at the end. You can borrow against the money earned by your insurance policy or you can simply leave it alone and let it earn more money. It\’s also collateral for that car loan you\’ve been trying to get.

Just remember that not all insurance policies are created equally. Different companies will charge different amounts for the same amount of coverage, so do your homework before you buy a policy.

http://www.LifeInsurance4All.com/ is a free tool that you can use to compare different rates and policy differences side by side, without having to apply for insurance. Christy Love is a retired life insurance agent with over 30 years of experience in helping people protect what matters most… their family.

Article Source: http://EzineArticles.com/?expert=Christy_Love

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Buying Life Insurance online – is it a really good idea?

The advent of the internet has opened up the possibility of cheaper life insurance for all.

In years gone by, if you were considering life insurance you would probably have invited an insurance salesman from your favourite insurance company to meet you or alternatively gone to your local insurance broker. But rarely would you have been courageous enough to get competitive quotations. It just wasn\’t done. You trusted the salesman to do the best for you and surely you thought, life insurance is somewhat technical and requires specialised knowledge. All very cosy. All very expensive. How life has changed!

People now realise that life insurance is not that complicated. If on a scale of 1 to 10, buying car insurance online rates 9, life insurance must be a 7 or 8. This has opened up the Internet as a prime arena for cut-price life insurance. That\’s not to imply that life policies bought on the Internet are in any way substandard. No, you\’re most likely to end up with a policy from one of the UK \’s big insurers like Norwich Union or Legal & General and they\’ll be exactly the same policies as you could buy anywhere else. It\’s just that the intense competition on the internet and efficiency and simplicity of the system, means that most online brokers decide to cut the commission and roll back the savings into lower prices.

Ah yes I hear you saying, 7 or 8 implies that life insurance is more complicated than car insurance. Yes it is – but that doesn\’t mean that it represents a problem. The companies selling life insurance online recognise that many clients feel that some level of personal advice is useful and indeed, necessary. They accommodate this with a mix of useful information on the web site and more often than not, with a short telephone conversation with a life insurance adviser prior to you buying. This provides reassurance and helps to ensure you really do get the policy options you need all at rock bottom prices.

Buying online certainly is a good idea. Michael Challiner has 15 years experience in financial services marketing at senior level.

Futher reading Can I get an online life insurance quote
Futher reading What is Level Term Life Insurance

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Van Insurance — How to Find the Cover for your Business Needs Quick & Easy

It can be very difficult to make good decisions about van insurance for your business and what it needs. With careful thought and adequate knowledge, however, you will at least be able to weigh the options in an educated way. Here are some suggestions to help you make the best decision for your van insurance.

One thing that can help you in your van insurance decisions is calling in an expert. Since you have better things to do than spend all your valuable time researching insurance, a Professional Employer Organization, or PEO, can help you find good van insurance for your company. Workforce Solutions is one example of a PEO that will provide the services of an HR department for your company. This means that benefits and other HR responsibilities are available to your company from this separate entity. A PEO can help you by providing expert administration of your workers, so you don\’t have to deal with the trouble. They are able to help you find out what the best insurance for your employees will be, and they have the resources to find package deals to save you money.

Another thing that will help you greatly in your van insurance search is to know what you need. Coverage is different for different situations. This means you must have accurate information about your employees to determine which quote will be best for you. It can be helpful to find out what van insurance they already have, and what van insurance will be most helpful to them.

Depending on your situation, it may not be feasible to ask the kind of questions you need to in order to get the information you need. This is where demographic information about your employees can help. For instance, older employees may need long term disability insurance, or better health plans. Your younger workers, on the other hand, may want family coverage, low co-payments, and better deductibles. Longer term benefits are less important to them. Workers over thirty-five will find that life insurance appeals to them more than to younger employees.

Group discounts on van insurance can be very attractive in some businesses, but if many of your employees rely on public transit to get to work, they may desire it less. Group van insurance discounts are best for businesses in rural or suburban locations.

Of course, insurance packages won\’t meet every employee\’s needs. You must try to please the majority, but it won\’t be possible to please everyone. However, you can learn the general needs of your employees, so far as insurance goes.

In addition to insuring you employees, you must insure your business. Insurance is a basic tool that you can use to reduce your business\’s risk. Deciding whether or not you need to be insured is simple. Merely calculate what you would have to pay if a problem occurred, then decide if you\’re capable of covering that cost without seriously interrupting your business. If you can\’t, then you should call upon insurance to protect you.

There are some common risks that businesses often look for insurance to mitigate. These include legal liabilities; property loss due to fire, theft, or acts of nature; Loss of important decision makers; loss of money due to business interruption; and insurance for company cars and vans.

Unfortunately, it\’s not as easy to pick the right, affordable insurance as it is to decide that you need to have it. It is, however, important to remember that your insurance guarantees recovery of losses in the event of a claim. Therefore, you should determine what you can\’t afford to lose in an emergency, and insure those.

Liability insurance is one very popular kind of insurance used by businesses. Most businesses will have some risk of being sued through their daily business conduct. Liability insurance policies meant that this risk is not borne solely by the policyholder. If you are sued in the course of conducting business, a liability policy will help provide relief from these expenses based on your agreed terms.

Keep these basic in mind when you plan you business\’s insurance coverage. Decide what assets must be protected. These can be equipment and property that are vital to doing business. To avoid big problems later, make sure that you protect these with insurance coverage.

Decide as well what kind of loss to insure yourself against. Different locations and different kinds of businesses incur different risks. You insurance provider will be able to help you decide which kinds of protection are most important. Remember, however, that no business is proof against fire or theft, even if you appear to be in a safe location or industry.

Most small businesses don\’t incur a great deal of risk. Their offices are generally operated in a stable location and there is little of great value on the premises. Because this is a very common way to do business, most insurance carriers have a form of standard small business insurance coverage. This insurance is usually referred to as a BOP, which stands for Business Owner\’s Policy. It normally contains property coverage, liability insurance, and protects against loss from theft or vandalism. You can usually add other coverages to these packages to customize them for your business. If you\’ are hoping to get a standard van insurance package without a great deal of work, ask your insurance agent or provider whether they offer a BOP.

When choosing an insurer, make sure that you look for a company that will work with you individually. They should be willing to help you look over your current coverage, identify areas where you have holes in your van insurance coverage and might be at risk, comprehend your options and their products and services, and to help protect you business from danger. If a problem does occur, your insurance company should be willing to help you through the claims process without a problem.

If you are not ready to do all of this yourself, you can get help through the Van Insurance Britain.co.uk The staff of these organizations have the skills and experience to get your business properly insured. They are also familiar with many insurance providers, so they know the ins and outs of the insurance business and can get you the right coverage at a good price. If you need insurance for either your employees or your company in general, a PEO such as Workforce Solutions is a great place to look.

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Health Insurance Quotes Reform Weekly EasyToInsureME

Week of December 14, 2009

Health care reform provisions are changing fast as the Senate considers numerous amendments on the floor, and there is no better example of how fast than the much-reported government plan option. Senate leaders announced last week that a deal had been struck to remove the public plan from the bill in favor of a not-for-profit private insurance option and an expansion of Medicare to allow people 55 or older to buy in. The deal was quickly lauded by the White House and others, but concerns soon emerged about the new approach from various sectors of the health care system. A day or two later, the Associated Press reported that Senate Democrats were changing the \”breakthrough\” provisions in response to those concerns. The anticipated impact of the reform bill (especially its raft of proposed health care sector taxes and fees) on costs continues to be the focus of most critics, from labor unions to hospitals.

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The Senate last week barely moved forward on health care reform. Although the Senate focused on health care issues the entire week, there were no votes past Tuesday and the key amendment of the week (reimportation of cheaper drugs from Canada and overseas) is in limbo though the amendment clearly has majority support. Off the floor the action is more intense and meaningful. Earlier in the week Majority Leader Harry Reid announced a \”deal\” on the public plan. As it turned out the deal was among 10 Democrats only, and no details of any consequence were released. Reid himself was closed-mouthed claiming everyone had to wait until the CBO had a chance to \”score\” this newest iteration of health reform. The deal is in three parts: 1) use of the Federal Employee Health Benefit Plan model in which a federal agency would administer a national plan with private carriers in the mix; 2) triggering a true public plan if too few carriers participate in this national plan; and 3) allowing seniors 55 to 64 years old to buy in to Medicare. Even before the CBO score is back we already know that Senator Joseph Lieberman (D-CT) is opposed to the Medicare piece alone, if not the rest, and would filibuster the overall bill; Senator Ben Nelson (D-NE) is not far behind. And, if the score is bad and turns away additional moderate Democrats, Reid may have to go back to the drawing board for yet another twist to the never-ending saga of health care reform.


FLORIDA: A final draft of the voluntary compact regarding coverage for cancer clinical trials was circulated to interested parties late last week by legislative leadership. Aetna has been working with leadership, both directly and through the Florida Association of Health Plans, to assure the language follows current coverage guidelines. Aetna anticipates being a signatory to the compact.

MASSACHUSETTS: The Massachusetts Joint Health Care Financing Committee held a hearing on legislation requiring every full-and part-time college student in Massachusetts to have at least the basic level of health insurance required under the state\’s 2006 health reform law. If enacted, the new law would require students to carry the minimum credible coverage to be considered insured. Universities and colleges that fail to carry out their \”responsibilities\” to ensure student compliance would be fined a penalty of $1 per student for every day their \”failure\” continues. The bill also would require the Division of Insurance to issue regulations establishing procedures for implementation and monitoring of compliance. Massachusetts\’ existing individual mandate applies to students age 18 or older who pay in-state tuition rates for themselves at a Massachusetts community college, state college, or university.

MISSOURI: The pre-filing of bills for the second regular session of the Missouri 95th General Assembly began on December 1, and several new bills concern federal health care reform. Several pre-filed bills that failed to pass in the first regular session included an autism spectrum disorder mandate as well as a bill to amend the current prompt-pay statute. Both are expected to continue to be debated again in 2010. New to the Assembly are bills to pursue a constitutional amendment to prohibit compelling a patient, employer or health care provider to participate in any government- or privately run health system and to prohibit banning a person or employer from paying directly for legal health care services. Another new bill would pursue a constitutional amendment to penalize a political subdivision for participating in a health insurance option sponsored by the federal government. New also is a bill to provide premium refunds for consumers with cancelled long-term care and/or Medicare supplement policies and to make it an unfair trade practice to engage in certain practices when selling Medicare products. Aetna will continue to monitor the pre-filing of bills through the start of the next legislative session in January 2010.

NEW YORK: In a press release issued last week, Governor David Paterson is calling for the reinstatement of prior approval of insurance premium rates. The Governor introduced a bill during 2009 that would have given the Superintendent of Insurance sole authority to approve rates at his or her discretion, but that bill failed to pass. Given this latest press statement, it is expected that the Governor will ask the legislature to re-introduce his program bill for 2010. The Governor tied his support for the prior approval of rates to plans\’ dividend requests. The dividend requests were $800 million from Oxford (18.7 percent of 2008 New York premiums), $200 million from Empire (2.5 percent) and $134 million from Aetna (16 percent). The state\’s insurance lobby, the HPA, responded that the dividends reflect multiple years\’ earnings, and the plans\’ margins are in the 2 percent to 3 percent range.

OHIO: Resolutions continue to be introduced in Ohio with respect to implementation of anticipated federal health care reform. Specifically, a new resolution was recently introduced requesting all members of the General Assembly to support the public plan option as part of national health care reform. This resolution adds to other pending resolutions on health care reform, such as one supporting rights for people to enter into private contracts with health care providers for health care services and to purchase private health care coverage; and another to amend Ohio\’s Constitution to prohibit a law or rule from compelling a person, employer, or health care provider to participate in a health care system. They are not expected to pass, as the legislature continues to focus mainly on budgetary matters.

OKLAHOMA: While testifying at a hearing before the House Appropriations and Budget Subcommittee, the Oklahoma State Auditor and Inspector suggested eliminating all health insurance options except for “HealthChoice” to cut $100 million in state employee benefits costs. Currently state employees can enroll in one of eight health insurance plans offered by four HMOs through the Employees Benefits Council or one of the HealthChoice plans offered by the Oklahoma State and Education Employees Group Insurance Board. Employees receive an allowance to offset the costs of the plans. According to state law, the allowance is calculated based on the average cost of the high-option health insurance plans, plus the average of the dental plan costs, plus the cost of life insurance, plus the cost of disability insurance, plus 75 percent of the dependent health costs, if applicable. Steve Burrage said the current arrangement creates a situation of \”adverse selection\” where healthy, younger employees purchase the less expensive health insurance policies offered by the HMOs, and less healthy, older employees buy the more expensive HealthChoice policies. However, both employees receive the same benefit allowance. In his FY2009 executive budget, Governor Brad Henry proposed adjusting the benefit allowance formula by giving the HealthChoice high-option plan a 40 percent weight. The proposed adjustment did not make it into the final budget.

WISCONSIN: Proposed legislation is circulating in the Senate that would create explicit statutory authority for the Wisconsin Office of the Commissioner of Insurance (OCI) to oversee operation of self-funded plans serving public-sector employees, resolve consumer complaints, and monitor reserve and reinsurance levels. Additionally, the bill would apply state minimum coverage requirements, such as mammograms, chiropractic care, diabetes education and care, and require a governmental body that provides a self-funded health plan to provide reports and replies to requests for information to the OCI as they relate to the plan. This bill is aimed at self-funded plans offered by cities, towns, villages, counties and school districts.

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What Types Of Mortgage Life Insurance Policies Are Available To Protect Your Mortgage And Family

Life coverage is without a doubt one of those matters most people don\\\’t consider, because no-one enjoys pondering their very own death or even making plans for it. The reality nonetheless, is that making satisfactory provision for loved ones as well as dependents when alive, is a very important thing we can easily do to protect them from financial strain or perhaps hardship later on.

Life insurance coverage is available in a variety of forms, and can become confusing merely with the different terms ‘Insurance\’ and ‘Assurance\’. To help simplify matters the following article should enable you to understand the differences.

On the subject of the difference between insurance and assurance, there isn\\\’t any actual difference, even though the most popular phrase is Life Insurance. The subtle distinction however is that insurance policies are taken out to cover a future occurrence that may happen such as with a car insurance policy, while a life assurance policy provides cover for an event which will definitely occur such as dying.

When it comes to passing away, both kinds of policy pay out a defined lump sum to the named beneficiary, and with the add-on of critical illness protection to a protection plan, would pay out exactly the same sum prior to death if clinically determined to have a terminal condition or critical illness covered by the policy.

What forms of life assurance are available?

There is a wide variety of insurance plans obtainable in the market, however, if trying to protect your mortgage these policies would be the main types to be considered.

Mortgage Life Insurance

Policies which will settle the mortgage in the event of passing away or diagnosis of an earlier critical illness fit into a couple of categories. The very first is a Mortgage Life Insurance policy otherwise called a Decreasing Term Assurance, and the other is a Level Term Insurance policy otherwise known as a Term Assurance Policy.

Decreasing term assurance

This sort of protection plan is set up in order to pay out a lump sum adequate to be able to pay back the outstanding balance of the mortgage in the event of death or earlier critical illness. This kind of protection plan is used along with an ordinary repayment mortgage where the policy decreases inline with the lowering mortgage balance. There isn\\\’t any investment aspect of any type with this policy, and so it just pays out the contracted lump sum upon acceptance of a claim. If you survive the policy term, then there is no payment made.

Level term assurance

The only real difference with a level term assurance policy is that the sum insured doesn\\\’t reduce over the policy period. This type of policy is usually suitable to operate together with an interest only mortgage where the mortgage balance remains constant because absolutely no capital is paid back on a month to month basis. Much like a Decreasing Term Assurance, the level term insurance policy requires the payment of a month-to-month premium. In the event of a claim the insured lump sum is paid out to the nominated beneficiary.

Low Cost Endowment Life Assurance

While this is categorised as an insurance policy, an endowment policy is really a financial savings plan that has a decreasing term assurance policy which works along with the savings plan. The savings plan is set up with the expectation that it will grow to a amount of money good enough to pay back the mortgage by the end of the term. The regular monthly payment is worked out accordingly. In the same way as a decreasing term assurance policy will guarantee to pay off the remaining mortgage balance in the event of passing away for the repayment mortgage, exactly the same principle relates to the endowment policy. As the savings increase in value the insurance plan sum assured decreases, with the combined amounts always being sufficient to settle the mortgage in the event of a claim.

What other choices can be found?

Critical Illness Benefit

Together with just about all insurance policies you will have the option to incorporate additional benefits. The main one is likely to be Critical Illness Benefit which protects various different critical illnesses like Heart Attack, Stroke and Cancer. Different providers have got different meanings for their critical illness policies, and for that reason exclusions, limitations or even restrictions will be applicable to most plans. A standard limitation of cover is going to be with regard to some of the less advanced cancers which can be more commonly curable.

The next provides the common listing of conditions included under a critical illness policy – Alzheimer\’s disease, Aorta graft surgery, Aplastic anemia, Bacterial Meningitis, Benign brain tumour, Blindness, Cancer, Cardiomyopathy, Chronic lung disease, Coma, Coronary artery by-pass surgery, Creutzfeldt-Jakob disease, Deafness, Dementia, Heart attack, Heart valve replacement or repair, HIV or AIDs from an assault, blood transfusion, occupational duties or accident, Keyhole heart surgery, Kidney failure, Loss of independent existence, Loss of limbs, Loss of speech, Major organ transplant, Motor Neurone disease, Multiple Sclerosis, Paralysis/Paraplegia, Parkinson\’s disease, Stroke, Third degree burns|, Total and Permanent Disability.

Waiver of monthly premiums

If perhaps you cannot work because of ill health it\\\’s possible to protect your regular insurance premium so that in the event of an recognised claim, monthly premiums would continue to be paid for through to the end of the plan, a selected age, or you become fit to return to your workplace.

How much money should appropriate Mortgage Life Insurance Cost?

This depends on the individual life assurance companies underwriting standards. Every single company applies different criteria to their own quotes, which is why some policies are cheaper than others. The main factors which govern the price of life insurance are:

Age group, gender, height and weight, health background, history of family health, marital status and the number of young children you\\\’ve got, your occupation, whether you are a smoker or non-smoker, any kind of risky sports you do for example sky diving, alcohol consumption, along with the purpose of the insurance policy.

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Save money on life insurance

Generally, life insurance is known as a life assurance. In the event of death, life insurance is a assurance to secure your family by providing a set amount of money in the form of death benefit. On the other side, life insurance is also a means of investment or savings and there are several options available for such a needs.

As a part of research, you should determine which class you belongs and fits into. Most of companies sell their insurance products with different price classes and is set according to the targeted groups.

In the current scenario, there are many life insurance plans are available in the market that can meet your needs. There are not only few products that can be suitable for you but also multiple products you can take for the consideration.

There are two basic types of life insurance policies:term and whole life insurance. Term life is a purest form of life insurance that provides basic death benefit. In whole life, it provides death benefit along with a cash value that helps to build up your savings. Term plans are basically less expensive compared to whole life insurance plans. For the least cost and most coverage, term insurance is always better option.

You should figure out your needs. For this process, you can consider your family expenses to get an rough idea of how much money you would required in the future.

Premium rates are always main factor to reduce the overall cost of your insurance policy. The premium rates can be higher or lower for the policy with same coverage. Today thousands of company are in market, they offer multiple products with different rates. You can take the advantage of online quotes to make easier this task. There are various trusted websites that can provide you plenty of pricing information with all details.

Here, your health also play a more important role to get the favorable premium rates. People with blood pressure, heart disease, diabetes or even smoker and drinker pay considerably more. Because unhealthy people pay much higher premiums than healthy people.

Above information is very helpful to save money on your life insurance policy. If you are not able to sort out suitable one by your own work, you may higher a professional advisor.











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