Life Insurance,Health insurance,Universal Life Insurance, Term Life Insurance,Senior Life Insurance,Whole Life Insurance, Children's Life Insurance,Home Insurance,Auto Insurance, Travel Insurance Bussines Insurances
This section was created to solely create a single point access to all information related to Insurance Sector in India. This Indian sub-portal has been divided into three sections as follows:
As a student, the chances are that until you start at college or university, you will have been living at home with your parents, and that you and your possessions have been protected by the home contents insurance covering the family home. When you move out, you will take a large quantity of your personal property with you. Computers, music systems, bikes, clothes and other valuable items will soon be installed at your university hall of residence or a room in a house shared with others. As soon as you do so, it is likely that your property ceases to be covered by your family's home contents policy.
Although home contents insurance will often not figure very high on your list of priorities, it is a sad fact that student accommodation is a favourite target for opportunist burglars. These parasites are well aware that the majority of properties occupied by students will contain lap tops, personal computers, mobiles and game consuls. They are also aware that students have to vacate their rooms at regular times to attend lectures, exams and other functions. They also know the holiday periods when students are likely to return to their families, leaving most of their more bulky valuables behind. In fact, statistics show that around 38 per cent of all students are victims of crime during their spell at university. However, only a small percentage take out any form of insurance policy covering their personal possessions. The rest trust to luck.
Many universities have their own insurance policies covering the possessions of students who occupy university managed residences, but for those who stay in rented or privately owned accommodation there are two main options.
Firstly, their parents can arrange for their home contents policy to be extended to cover their property while away from the family home. This method has a number of drawbacks in that the insurance is unlikely to provide protection if the possessions are left in unoccupied accommodation for more than a specified period of time - so everything has to come home at holidays. Furthermore, because of the somewhat casual security measures that exist in typical student housing, the terms of the policy with regard to this are unlikely to be met. Finally, if there is a claim, the family's insurance premiums will soar.
The second option is for the students to obtain their own cover. This is by far the better option, although there are often a number of exclusions and there are always conditions imposed in respect of the security of the accommodation. However once obtained, there are a number of benefits that come with household insurance. Not only are possessions covered against accidental damage, loss or theft, most insurances provide personal liability protection against the cost of legal representation against being sued for damages and will also protect the deposit paid to the landlord against accidental damage to the rented property itself.
Contents insurance is not compulsory, but given the statistics it is a wise move. There are any number of companies that provide Home Insurance Policies for students, so shop around on the internet to get some quotes before you decide on the deal for you.
Home insurance is not a legal requirement but if you are taking out a mortgage on your property your lender will require buildings insurance cover to be taken. It is more paramount now since we are led to believe that home burglaries are up, floods are becoming more likely and the majority of us have expensive portable kit such as lap tops and other hi tech gadgets we can't do without!
Home contents insurance can be a fairly cheap way of ensuring peace of mind as far as the loss of material objects goes. Many insurers offer extensions to their policies which mean's that if you have bikes in the garage or shed, expensive garden plants or out door furniture, you can add these on to your policy.
Calculate your level of cover by going from room to room making notes on all the items you would need to replace in case of theft or damage. Some policies will include a new for old clause which means they pay out for the item at today's prices. There will be exclusions to this and you should be aware of what they are on your policy. You should aim to give an accurate estimate of your items and not under or over estimate the value. If you have very expensive items you should speak to your insurer about taking out separate insurance. Keep your cover level updated and add items during the year if you need to. There are some insurers that have set amounts of cover available to save you the trouble of calculating exactly what value your contents add up to.
It is important to do your bit for security if you are looking for a competitively priced policy. Fitting window locks, five lever mortise locks to exterior doors, burglar alarms and becoming a member of your local neighbourhood watch will all result in cuts to your premiums.
Burglar alarms can be fitted at a reasonable cost, if you would like to have your alarm wired to include a live police response, it will cost more and must be reliable as many local police authorities will charge your household if there are too many false alarms.
With the advent of high tech security gadgets becoming more readily available, many more security conscious people are investing in CCTV. For as little as £200 you could have cameras fitted to your property and monitor the activity around your property through your personal computer changing from camera to camera and retrieve pictures within a time frame that can be frozen and zoomed in on
Read more...Signifying several unique qualities - affordable sports car, mid-engined exotic, and more recently, technology showcase. Receive your free auto insurance quote.
The road to saving on auto insurance is something that every consumer travels at one time or another. And the quest is really not as difficult as it may appear. Saving on auto insurance can be a snap if you know the right places to look, and the best avenues to shop around.
Here is a great way to save of auto insurance: driving safely. Driving with caution is one of the number one ways to keep those rates on the lower end. Insurance companies do not take too kindly to traffic tickets and auto accidents because they only increase their costs.
Keep your credit in good standing. Some auto insurance companies will use your credit rating score in calculating your rates. So, if you've got a less than stellar credit rating, watch out! You may be dishing out more for your auto insurance than is actually worth it.
Some insurance companies will give a price reduction in premium if your vehicle is equipped with the most current safety equipment such as air bags and automatic seat belts. By investing in car alarms or other various security devices such as a car tracking system, you may be eligible for a discount.
Unfortunately, saving on auto insurance does mean that you will have to make a few sacrifices. Cars that have more expensive parts, or are sportier are equipped with higher insurance rates. Buying a less expensive car will cut down on your insurance and liability coverage costs.
Auto insurance companies vary on their discounts and savings, so it is a good idea to check with your agent or customer service representative to verify what is applicable in your area. There are guides offered by each individual stateÕs insurance department that will supply you will all the information available about auto insurance savings in your vicinity.
Timothy Gorman is a successful webmaster and publisher of Best-Free-Insurance-Quotes.com. He provides more insurance information and offers discount auto insurance, life and home insurance that you can research in your pajamas on his website.
Read more...How much does life insurance cost? Since the cost of life insurance varies, it's a good idea to know what factors influence the cost of life insurance so you can get the best coverage at the lowest cost possible.
With so many life insurance options available, consumers oftentimes find themselves wondering if they are spending too much money for a policy and additionally if the coverage is sufficient. In this LoveToKnow interview, Kurt Wicks of The Wicks Insurance Agency reveals to readers how much does life insurance cost as well as different ways to save money when purchasing a life insurance policy.
Life insurance, much like homeowners insurance, auto insurance, or health insurance varies immensely. Ranging from less than $100 a month up to hundreds or thousands of dollars a month, the cost of life insurance will depend upon:
You are what you are, meaning that some circumstances - such as family health history or your age - can’t be changed. However, you can improve on your personal habits by maintaining a healthy weight, refraining from smoking and so on.
Generally speaking, the healthier you are, the less expensive life insurance will be.
The cost of life insurance is influenced by many circumstances and factors. The most basic factors affecting the cost include:
The cost of term life insurance varies as well, but is generally less expensive than cash value life insurance, for example. This is because with term life insurance, you’re only really paying for the death benefits of the policy.
Generally speaking, cash-value life insurance is more expensive than term insurance. This is because the money put into a cash value policy accumulates over years. That money is then put into an account, yielding interest for the policy holder. This money becomes a reserve for the policy holder, allowing for early retirement, paying off a mortgage or some other major expense.
I’d recommend asking first and foremost of your broker or agent this question: What company will I be buying this policy from? This should be followed with another question: How is the company rated by Standard & Poor's or Bests? Keep in mind that in a poor economy many companies might be downgraded in their rating, and you’ll want to make sure you’re purchasing a policy from a stable company.
Equally as important is to learn how reputable your agent is. Ask how long they’ve been in business and if they can provide you with references.
Life insurance is the only product that creates cash when needed the most for pennies on the dollar. Such cash needs include funeral expenses, mortgage redemption, education expenses and emergency funds as well as as dependency periods for children and widows or widowers.
Kurt Wicks is the founder of The Wicks Insurance Agency, an Allstate company located in Manchester, New Hampshire. A graduate of the Rhode Island Business School, Kurt joined Allstate’s Management Development Program in 1979 and subsequently served as Sales Manager and New England Regional Sales Training Manager.
Over his 35 year career in the insurance agency, Kurt has been one of the Top Life Insurance Producers for Allstate, and has won numerous company and industry awards.
Read more...HEALTH GUARD -COVERS ALL MEDICAL EXPENSES ON HOSPITALISATION
It is rightly said ‘Health is Wealth’. We are all aware that health care costs are high and getting higher. At times, unfortunately we fall prey to unanticipated accidents & illness. Bajaj Allianz promises to stand by you during those difficult times of physical and mental stress. Our Health Guard policy takes care of your hospitalization expenses & also offers a wide coverage of pre & post hospitalization expenses. We are the first company to provide the higher coverage of SI 10 lacs.
Features
* The member has cashless facility at over 2400 hospitals across India
* The member can opt for hospitals besides the empanelled ones, in which the expenses incurred by him shall be reimbursed within 14 working days from submission of all documents.
* Pre and post - hospitalization expenses covers relevant medical expenses incurred 60 days prior to and 90 days after hospitalization.
* Cumulative bonus of 5 % is added to your sum assured for every claim free year.
* Family discount of 10 % is applicable.
* Covers ambulance charges in an emergency subject to limit of Rs. 1000 /-
* No tests required up to 45 years up to SI 10 lacs*
* 10% co- payment applicable if treatment taken in non-network hospitals. Waiver of co-payment is available on payment of additional premium
* Pre-existing diseases covered after 4 years continuous renewal with Bajaj Allianz
Benefits
* In house Health Administration Team for hospitalisation claims to lower turn around time
* Access to over 2400 hospitals all over India for cashless facility.
* No Sub-limits applicable on room rent and other expenses.
* Hassle-free claim settlement due to In-house claim administration.
* Income tax benefit on the premium paid as per section 80-D of Income Tax Act as per existing IT law.
* Health Check up for maximum amount of Rs. 1000 /- at the end of continuous four claim free years
* Family discount of 10% is applicable
Coverage
* 10 lacs coverage available from 3 months up to 55 years*
* Policy can be renewed up to 70 years*
* In built E-opinion cover for SI 5 lacs & above.
*conditions apply.
Term Life Insurance FAQs from Life Insurance Wiz: The Experts in Term Life Insurance Quotes Information.
* Why it's called "Term".
* Different terms for different needs.
* What happens when the term is over?
* Accidental Death Insurance.
* Summary: Advantages and Disadvantages of Term Life Insurance.
Why It's Called "Term" .
Term life insurance is called "term" because it provides coverage for a specific period or term (most often 1, 5, 10, 15 or 20 years). For this reason, it is also called "temporary" insurance. If death occurs during the term, the policy pays cash benefits to the beneficiary. However, once the term is over, and if the policy is not renewed, the coverage ceases. If death occurs after te coverage ceases, no cash benefits are paid out.
Term insurance is the most straightforward type of life insurance and the easiest to understand. Sometimes it is called "pure" insurance, since the policy has no financial investment value and most of your premium goes to pay for coverage, with only a small amount used to pay the insurance company's costs. If you are looking for the maximum amount of coverage for your dollar, term life insurance will give you the most "bang for your buck".
Different Terms For Different Needs.
All term life insurance policies cover you for a specific amount of time - the term. The term that's right for you depends on how old your children are, how many years before you retire, and other factors. Many people like to know they're insured until they're ready to retire, usually at age 65. Many just want to have insurance until their youngest child graduates from college, and so they make sure their life insurance coverage includes money to pay for all of the college tuition.
Most experts agree that you should carry insurance at least until your youngest child is 18. So if your child is 3 now, you would want to carry your insurance for at least 15 years. But that doesn't mean you have to lock into a 15-year term - you could instead buy an annual renewable policy and renew it for 14 years in a row. You should compare the total 15-year cost of the annual renewable policy and the 15-year term policy, making adjustments for the time and value of money, to determine what the best value is for you.
Here's an overview of the different types of term policies available and, most importantly, a look at what happens when the term is over.
Annual renewable term insurance.
With annual renewable term insurance, your policy is automatically renewable each year up to a specific age limit, often 65, but sometimes older. Since the chances of your dying increase statistically the older you get, your premiums go up each year as you renew. However, if you buy your policy when you are young and unlikely to die, you can obtain substantial coverage for an inexpensive premium.
Renewable term insurance.
With renewable term insurance, the insurance company automatically allows you to renew your coverage after the term of the policy is over (generally 5 to 20 years), even if your health has deteriorated. This is the same way annual renewable works, but for a longer period of time. Since a lot can happen to your health in 5 or 20 years, renew ability can be a valuable feature. But since it involves a greater financial risk for the insurance company, renewable term coverage generally costs a bit more than annual renewable policies.
The conditions associated with renewable term may differ from company to company. For example, though you are guaranteed the right to renew at the end of your term, you may or may not be able to renew for the same amount of coverage or for the same term. Moreover, your premiums will almost definitely go up upon renewal.
Level premium term insurance.
Level premium term insurance guarantees your premium will stay the same each year for the term of your policy, generally 5 to 20 years. Insurance companies keep your premiums the same by charging you an average of the premiums they would ordinarily charge you with an annual renewable policy. As a result, you will probably pay more in the early years and less in the later years than you would if you had an annual renewable policy. You will probably also encounter a big increase in premiums at the end of your term when you apply for a new insurance policy.
The big advantage of level premium term insurance is that your premiums stay the same throughout your policy, even as you get older. However, if for some reason you change policies in the early years - when your level term policy is most expensive - you will end up paying more than you need to for coverage.
Decreasing term insurance.
With decreasing term insurance, your cash benefits decrease each year while your premiums remain level for the duration of the term. Decreasing term is typically used to cover an item whose costs decrease over time, such as your home's mortgage. It isn't a wise choice for your general life insurance needs which, due to the effects of inflation, tend to increase over time.
Convertible term insurance.
Convertible term insurance enables you to convert your term insurance into any of the other types of insurance policies offered by the issuing insurance company. Convertibility can be an advantage if your insurance needs change over time, as they are likely to do. And, since it involves greater risk for the insurance company, it generally costs more than annual renewable term.
What Happens When The Term Is Over?
It all depends on the type of term insurance you have. With renewable term, you are guaranteed the right to take out another term policy without the formality of a new application or medical examination. With standard term, your insurance coverage ceases, and you have to apply again, including taking a medical examination. With convertible term, you reserve the right to convert your term policy to another type of policy like Whole Life Insurance or Universal Life Insurance- or in some cases, another term policy - at any time during the term of your policy. You should, however, expect an increase in your premiums with your new policy.
Accidental Death Insurance
A special limited type of term insurance
Accidental death insurance pays out a cash benefit if you die in an accident. Since the sudden loss of a loved one can impose extreme hardship on a family, this coverage can be thought of as "catastrophic protection." It can also be thought of as "inexpensive term" since it only pays benefits for death resulting from accidents and, therefore, often costs less than other types of term insurance.
The best way to protect your family is with a life insurance policy that pays benefits if you die from any cause. But if you don't feel you can afford regular term life insurance, you should at least give your family the protection of a good, inexpensive Accidental Death policy.
The cost of a whole life insurance policy is spread out across many years, so the premium remains the same. This ensures that older people on a fixed income will not have to cope with rising premiums.
Unlike term life insurance, whole life insurance accrues cash value over time. If you cancel the policy after a certain amount of time has passed, the insurance company will surrender the cash value to you. The cash value is scheduled to equal the face value when the policyholder reaches the age of 100. If you live that long, the insurance company will likely pay the face value to you in a lump sum.
This is not the only way to use the cash value, however. You can also borrow some of the cash value as a loan. The money has to be paid back, but there is no approval process and no risk of being turned down. You are your own lender. Some whole life insurance pays dividends, so it can be used to supplement your retirement income.
Universal life insurance offers many features of whole life insurance, but allows greater flexibility once the policy is in force. Like whole life insurance, universal life insurance is a permanent policy. It protects the policyholder until death—however long that may be. Also like whole life insurance, universal life insurance accrues cash value over time.
Unlike whole life insurance, universal life insurance breaks the death benefit and cash value accumulation into separate components. This allows the policy holder to make changes in the policy. For example, if the policyholder wants to increase the death benefit, he or she puts more of the premium money into the insurance account and less into the cash value account. The reverse is also true. The policyholder can decrease the death benefit and increase the cash value contribution. To reduce premiums, the policyholder can pay only the insurance portion.
Once the cash value has accumulated, the policyholder can withdraw the money. The money must be paid back, or else the death benefit will be decreased. Some people use the universal life insurance policy as a savings account to draw on as they get older. Others use the accumulating cash value to increase the death benefit so they have more to leave their loved ones. Universal life allows these choices and decisions to be made throughout your lifetime.
Read more...Parents and grandparents want the best for the little loved ones in their lives—from keeping them healthy and happy to providing for their financial future.
Children’s life insurance is a tool many families use to give their children a financial foundation that they can draw upon when they are older.
The lowest cost life insurance you can buy is the one you qualify for right now: Rates rise with age. It comes as no surprise, then, that rates for a child—as young as two weeks old—is the least expensive insurance you can buy. The low rates make whole life insurance affordable for almost everyone. Because whole life premiums are locked in at the beginning, they will never increase with the child’s age—regardless of whatever health issues may arise.
Whole life insurance has the added advantage of accumulating cash value over time. This cash value is a financial asset that the grown child can borrow against or use as collateral. In addition, the money borrowed is not subject to income tax, whether or not the loan amount is repaid.
By the time the child turns twenty, the cash value of a whole life policy will likely be equal to or greater than the amount of the premiums paid. If you paid $10 a month for a $15,000 policy, after 20 years the policy would have a cash value of $2,400 or more. A $35,000 policy would have a cash value of about $5,700. Some life insurance programs provide for an automatic doubling of the policy’s face value when the child turns 21—without a change in the premium. In addition, you or the adult child may be able to purchase additional coverage on certain policy anniversary dates, also without increasing the premium.
The primary reason for buying any kind of life insurance is to insure against untimely death. This is not something parents or grandparents wish to think about. Nevertheless, consideration must be given to the survivors, including a child’s siblings. Funeral and burial expenses and unpaid medical bills can affect the finances of an entire family at a time when grief and stress are already at an extreme level. Life insurance is a way of protecting everyone.
Read more...No one wants to be a burden to their spouse and children — in life or even in death. This is the main reason why seniors often take a second look at life insurance.
Most seniors already have life insurance of some kind, but the death benefit often is too small to take care of funeral expenses and medical bills. In most states, a life insurance death benefit is exempt from creditors. It is also exempt from inheritance taxes. This makes it an excellent vehicle to transfer wealth to survivors.
Seniors often assume that they will not qualify for life insurance, but many states have laws requiring insurance companies to provide coverage to seniors. Since the senior population is growing fast, many insurance companies have found it profitable to offer life insurance to seniors.
Guaranteed Acceptance Life Insurance.
The best premium rates are offered to seniors who pass a health exam, but many companies offer insurance with no exam required. Typically these policies, known as Guaranteed Acceptance Life Insurance (usually a type of whole life insurance or universal life insurance) will pay a full death benefit in the case of accidental death as soon as the policy goes into effect. However, the policy will pay a limited death benefit if the policyholder dies of natural causes during the first two years of the policy. The insurance companies place these limits on the policies to avoid writing “deathbed” policies. The limited death benefit normally consists of the premiums paid plus interest. Once the two-year waiting period is over, the policy holder is fully insured.
Term Life Insurance for Seniors.
Many seniors, especially those on fixed incomes, do not look at life insurance as an investment opportunity. They are more interested in easing the burden of their death on their survivors. In these cases, term life insurance may be the best option.
Whole Life Insurance for Seniors.
Thanks to improvements in diet and healthcare, seniors are living longer than ever. As a result, there is a risk of outliving your term life insurance policy. Whole life insurance will cover you for your whole life, no matter how long that may be. The premium is fixed for the life of the policy. It cannot go up. The policy will build cash value. You can borrow that money or passed it on tax-free to your heirs. Whole life premiums can be much higher than term life premiums.
Single-pay Insurance.
If you have accumulated considerable wealth and are not planning to use it for living expenses, you might consider a single-pay insurance policy. This will allow you to “leverage” your money for your heirs. A $100,000 policy paid for with a single premium can double or triple in value overnight, and the death benefit can be structured to be paid tax-free.
As with any insurance, your goals should dictate the kind of insurance you buy. Consult with an insurance professional before deciding which option is right for you.
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