Does Your Homeowners Insurance Include Earthquake Coverage?

Home Insurance is one of the most important investments you have to get for your home. Not only that it will provide you peace of mind, it is also a government requirement that every home owners should abide.

The importance of homeowners insurance cannot be taken for granted. It is your blanket of security against financial bankruptcy in case accidents and natural disasters will take its toll on your home. The financial aid which home insurance provides will give you that peace of mind when accidents, injuries, and calamities strike. It would probably be so difficult to think about losing your home but it will be more than difficult to lose your home and knowing that no one will be able to assist you in building back your dream and your life. But homeowners insurance will help you bring back everything, well almost everything you have and build a new home for you and your family.

Natural disasters like earthquake is one of the most dreaded calamities which can hit and level your home down to the ground. With earthquakes affecting some parts of the world, you might want to ask yourself, is your home covered against the dreadful effects of earthquake? This is a very important question you need to ask your home insurance provider.

Not all insurance policies include earthquake coverage. This is important information you need to know from your insurance company. Assuming that your home insurance includes earthquake coverage is not enough you need to be correctly informed about the coverage included in your policy to have the necessary peace of mind.

With the growing information about the probability of the major earthquakes hitting parts of the United States in the coming decades, the demand for home insurance with earthquake coverage is increasingly getting high.

Most home insurance policies do not actually provide for earthquake coverage. If you are sure about this and want to consider getting earthquake coverage, talk with your agent and find out how much it will cost you to get additional coverage. Although, there are certain areas which are earthquake prone, you might still consider getting coverage even if you are situated in areas which are not often affected by earthquake since this type of hazard can actually affect any place on the earth.

Finally, if you are located along areas which are reported to be earthquake high risk areas, the more you need to ask your home insurance provider about earthquake coverage. If you are not covered, isn't it the right time to get extra coverage?

Are You Covered With The Right Homeowners Insurance?

Most certainly you have home insurance policy to cover your home. Home insurance is a necessity for homeowners to have. Not only that this is a necessity, government regulations also require every homeowner to have some form of home insurance coverage. It is a fact that home insurance is a very vital investment you need to make in order to protect your home and everything within it against accidents and hazards like fire, storm, flood, and among others. Moreover, any accidents which occur within the house can also be covered including medical reimbursements in cases of accidents and injuries.

Yes, you are covered with homeowner's insurance, however, the question is, is it the right coverage? Home owners insurance differs depending on the type of coverage included in your policy. Different areas may require different types of policy and coverage. Areas which are most commonly affected with natural disasters like flood, hurricane, and storms have also special coverage against these types of natural hazards.

A good example is the homeowners insurance policy in the state of Florida where a special section called the wind policy is included. This is especially provided for homes in Florida which are often visited by hurricanes. This will provide home owners the necessary coverage against a very common hazard in the area.

Upon signing your homeowners insurance policy, you need to know what are included and not included in the coverage. This way you will be able to decide whether to provide additional homeowners insurance policy for other specific coverage. Some homeowners insurance policy may not cover your home against earthquake, nuclear exposure, and tsunami. If you feel that you live in an area where nuclear exposure is a known hazard or if you are along the ring of fire and may want to provide additional coverage against earthquake, try to talk about this with your home insurance provider and get possible coverage for these types of hazards.

Your home insurance may also provide coverage for the belongings you have within your home. However, if you have expensive and valuable items within your home which the standard home insurance may not be able to completely cover, you might opt to add another type of home owners insurance policy, the home contents insurance.

Finally, make sure you have the right homeowners insurance coverage. If you are not sure about it, always seek the help and assistance of your insurance provider.

A Look At What Life Insurance Is And Is For

Many people find insurance a very confusing minefield of information and terms and conditions. It is not actually that complicated, insurance companies just tend to make things seem more complicated by using legal lingo instead of plain English. It is not their fault, it is just customary for all contracts and terms and conditions to be phrased in legal terms instead of plain English. So, what is life insurance and what is it for?

What is life insurance?

Life insurance is an insurance policy that will pay out a certain amount of money when you pass away. This is a kind of insurance policy that every responsible adult should have in place. You will have to answer a lot of questions about your health and the health of your family and your hobbies so that the insurance company will be able to assess your risk level and charge your premiums according to your risk level and the amount of life insurance that you want. The older you are and the more risky your hobbies are and the more potential genetic conditions you have in your family the more you are going to pay each month for your life insurance.

What is life insurance for?

As I mentioned earlier on in this article, every responsible adult should have life insurance. This is because of the money that is paid out upon your death. The policy will generally only pay out once the insurance company is certain that the cause of your death is not in violation of the terms and conditions of your policy, but once it does pay out, your family will be able to make use of the payment however they see fit. This means that even after you are no longer there you will be able to provide for your family to a certain extent. Your children's education will be taken care of and your spouse will not need to take on a more demanding job to be able to earn the money that is needed to keep the family living the way that they are accustomed to living. This knowledge should also take a large weight off your shoulders as you do not need to worry about what will happen to your family when you are no longer there to support them.

As you can see, life insurance is a wonderful invention. There is not a single person on this planet who should be without it. It is there to help you provide for your family when you pass on to the next world and to help them to cope with the grief of your passing. If you do not already have some kind of life insurance in place, it is most defiantly a good idea to make sure that you start looking into getting a policy today. Do not leave it too late. You do not know what tomorrow may bring. Rather be certain that your family will be taken care of if you are taken from them.

Important Lessons On Insurance Benefits

You can accrue a lot of insurance benefits out there. One of the benefits is actually that of having a peaceful mind. If you want to live a life without anxiety, just take out a cover for your property and all will be good.

Taking out a coverage means transferring the risk to the insurance company. Insurance is actually a tool that helps individuals to pass the excess burden to the insurers. The insured will only be expected to pay a premium in order to enjoy the services.

The insurer can only provide compensation for the insured property. This means that when the risk occurs, the burden is transferred to the insurer. This will relieve the insured from incurring unnecessary expenses.

You can acquire different types of coverage and have all your property covered. Some of them include; car, home and life coverage. There are several companies where you can get excellent services.

Taking out a cover for your car is actually mandatory in many countries. With this kind of coverage, it is possible to take care of issues like losing your car keys and many others. Other covers include legal cover and personal accident claims.

There are various benefits for purchasing a comprehensive cover for your vehicle. It will be possible to get new car keys in case you misplace them. The insurer will compensate you if you are involved into an accident. You can also get help from your insurer in case you want to cover the cost of legal fees.

Finding a cover for your home is also vital. You will actually live a stress-free life if your home is under cover. You will have to purchase coverage for things like electrical failure, damage of water pipes in your home and, other necessary home cover.

There many advantages for insuring your home. The insurer can change keys for you in case your keys get lost and compensation for many other things that may happen within your house. This way, you will be financially relieved.

It is also good to take out life insurance. Insuring your life is a good idea since we are living in a world full of uncertainties and risk can come upon our lives any time. The risk cover against your life is important since you will live a happy life. Your family is assured of compensation in the event of your death.

Acquiring any cover is not a hard task. There are many companies out there willing to provide these services to people. It is easy to get the most affordable coverage after making good comparison.

Purchasing a cover via online providers is the easiest. Try to visit a reliable and legitimate online insurance provider and purchase a cheap cover for your property. You are also able to compare the price via quotes.

There are online calculators you can make use of in calculating the amount of your monthly premium. This can help you budget your money wisely. Make use of quotes in order to learn more about insurance benefits from different providers.

Income Protection Insurance: Factors That Affect Its Cost

In these times of financial uncertainties, protecting one's income against illnesses, injuries or disabilities is a very smart and lucrative strategy to do. As you will be unable to work as you recover from your illness or injury, having income protection insurance would provide the assurance that you'll be receiving a steady income that's similar to what you are earning.

What is Income Protection Insurance?

Income Insurance is a type of insurance policy that is designed to pay a tax-free monthly benefit to policyholders who are incapacitated and hence are unable to work due to illnesses, accidents or disabilities. Although, there is no actual list of events that it stipulates by which you can claim insurance. Essentially, it is anything that causes you to stop from working. It is considered as one of the best types of insurance, particularly with working people, as it gives the policyholders the freedom to focus on their recovery rather than worry about where the money is going to come from for paying their every day bills like mortgage, groceries or utilities.

How Much Does Income Protection Insurance Covers?

Generally, the maximum cover for this insurance is usually up to 75% of your gross income. However, the amount of coverage is determined by the salary you want to insure. That's why you need to consider how much income protection you require, factoring in the costs of meeting a mortgage and other debts, paying every day bills and utilities, providing for a spouse, children or other dependents, as well as the maintenance of your assets and investments. Remember, the point of having this insurance is the guarantee that you will have income stream in times when you're temporarily unable to work.

The length of coverage (the time you will receive payments) will depend on the contract term. This could be: for the entire time when you are incapacitated and thereby unable to work until the earliest of death, recovery of health, retirement or the term of the contract. You will receive payments regularly (usually weekly or monthly) and are free of tax.

How Much Does Income Protection Cost?

The cost of this insurance varies based on a range of factors namely:

Your Occupation

Profit-wise, any potential customers are ranked by insurers on the basis of how likely they are to claim in their line of work. Different insurers have their different ideas about what occupation entails more risks than others.

Low risk occupations are in all likelihood subject to lower premiums. This involves people whose jobs involve little to no manual work like administrative staff and managers. On the other hand, high-risk occupations, including manual workers and both skilled and unskilled, are likely to be subject to higher premiums. This is so because skilled manual workers work with heavy or dangerous equipment that naturally place them at higher risk of injury.

Your Annual Income

A buyer may have to pay 1%-3% of his annual income on premium though it depends on the policy chosen by the buyer. A buyer must declare all components of their income if they want to get a correct estimate since income protection covers are tax deductible.

Deferred Period/Waiting Period

The longer the waiting /deferred period chosen, the lower the premiums you have to pay. So, if you can financially survive for a longer period while unable to work and without your income protection paying out or you are eligible for a generous sick pay from your employer, then it is advisable that you select a longer deferred period, that is as long as a year.

However, if you see that you cannot manage without your payments, opt for a shorter deferred period, for as short as four weeks.

Age and Gender

Due to the fact that a person's body naturally deteriorates as one gets older, an older individual in all likelihood will pay more as compared to a younger counterpart in the same position.

Insurance companies will perceive an individual in their fifties as a greater risk and thus, they can expect to pay more for their insurance.

Likewise, a person's gender can also affect the amount of premiums. Women are likely to be subjected to higher premiums than men. This due to the fact that women are said to claim on income protection insurance more than men, and are supposedly more likely to retire early and take time off to care of children or relatives.

Insure4U has all your insurance information from Life Insurance Quotes, to Income Insurance. Let us guide you through the process of finding the right insurance for you and your loved ones.

Don't Overlook General Insurance

Generally, we are very cautious while taking a loan or a life insurance policy to save those last minute surprises. But most of us have a misconception about general insurance that choosing a tailor made policy will take care of you and your belongings. Besides the required coverage and sum insured, it is important to ensure that the final policy document of a general insurance should comply with all the terms that the agent / insurer has agreed with you.

A few things that should be cross checked in a GI policy

Personal Details-

In case of health insurance policies even a misspelled name or a wrongly entered age can cause rejection of a claim. For others, a full description of the property has to be given to the financier. Commercial policies should have correct door numbers if the insurance is for a building and correct serial numbers in case of machinery.

Vehicle Details-

Vehicle models or seating capacity can be entered wrong if the software of the insurance company is not updated with that particular vehicle model. If you have made any alterations in the vehicle, like seating, LPG kit etc, check whether it has been entered in your policy. Errors in registration numbers can also cause disputes when claims arise.

Hypothecation-

If your belongings are hypothecated to any bank or financial institution, the details of the same should be mentioned in the policy. This is because in case if the property is lost, the claim has to be settled against the financier and not to the insured.

Address-

The address of the insured to which all communications in respect to the insurance contract should be sent is important. There is a practice among agents to direct the communications of their clients through them. It is better to make communications direct than routing through agents, as there are chances of delay or failures in passing them on the right time. For example, a renewal notice if not reached on time can put you in trouble if a claim comes during the lapsed time or you can lose your No Claim Bonus.

Period of Insurance-

Always check the date of issuance of the policy. Delay can happen in policy issuance even if you had paid cash for renewal to your agent. Always ensure that your policies are renewed at least a day before the date of expiry. Because, in case if an event occurs even in an hour's gap between policy expiry and renewal, the claim will not be considered.

Sum Insured-

Ensure that correct estimate of the assets are made, to avoid the risk of under insurance or over insurance. For commercial policies, the average value of the products in your premises and their possibilities of wear and tear should be mentioned. Don't ever compromise on asset value for getting a lower premium. Cross checking the insured amount and value of your assets on a regular basis is highly recommended.

Things Covered and Not Covered-

Insurance companies today sell products in combinations as package policies, both pre underwritten and underwritten after considering the needs of customers in different segments. Ensure that your policy covers all your needs, considering all risk factors associated with your product service or belongings.

Deductibles-

Always check if there are any special conditions attached to the policy like loadings, voluntary / compulsory excesses. For a bargaining customer, the agent / company would give the policy at lesser rates compromising any of the mentioned. This could trouble you at the time of making a claim.

Take time to go through the underwriting guidelines to know about the coverage, extensions, riders, omissions, voluntary / compulsory deductibles. These may vary from product to product and company to company.

Third Party Insurance

The obligations of the insured in relation to the subject matter of insurance to those who are associated with it in case of occurrence of a claim are covered under the third party section of the policy.

For example, if a fire damages a customer's car in your workshop, you are liable to your customer also. In auto-loans third-party component is compulsory. But in others we can make a choice considering the possibilities.

Carefully choose them in consultation with an expert in the field and check with the policy documents whether all are covered.

Policy Endorsements

If there are errors in the policy, it can get endorsed from the insurer, but ensure that you receive the endorsement certificate duly signed and stamped from the branch.

Policy Cancellation

All policy holders have the right to cancel a policy within 15 days of receipt of the policy document, if they are not satisfied with the policy terms and conditions or on grounds of misrepresentation, non-disclosure of material facts or non-cooperation of the insured. Refund of the premium will be made, subject to deduction of a proportionate risk premium for the period on cover and the expenses incurred by the insurer on inspection.

It is suggested that you get all your insurance needs fulfilled by a single company. This will help build a good relationship which is useful both in terms of discounts as well as claims.

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Compare Insurance Quotes in Today's Market

When choosing an insurance service it is important to compare different options. With this comes the importance of knowing how to compare quotes. The advent of technology brought us a lot of options to compare insurance quotes. We can acquire these quotes either online, via phone or the conventional visit to an insurance provider. But the problem is the process of selecting the best one.

There is the need to find out more and to look for what you are getting for the amount you are paying. You will be checking the terms of the insurance, the customer service options, and whether premiums increase or not. In the case of life insurance or health insurance, you must make sure that you will be able to opt for the one which has the maximized benefits. As you compare insurance quotes for automobiles, it is vital that you check the additional benefits. Covering tow services, theft insurance among others are significant factors to consider. When we compare insurance quotes we must focus on both the price and the features.

Insurance quotes are designed to lure the consumers. Equipped with them are advertising tactics targeted to make you go choose their product. They have been extensively designed to be captivating. This mere fact gives us the difficulty to correctly compare quotes. Here are 4 tips on how to accurately compare insurance quotes.

Tip #1 - It is not just about the price, learn to scrutinize everything. Oftentimes we are lured to buy products with the smallest price tag. The same thing applies with insurance. The numbers in these quotes are oftentimes misleading. You must check everything - from the inclusion and benefits to the date of expiration. Use tables to compare and summarize the quote. Clarify things you are in doubt of.

Tip #2 - Complexity of insurance policy contracts is rarely reflected in insurance quotes. As you compare insurance cost, you are only comparing the visible surface of the insurance policy. Most insurance quotes cover less than 20% of the actual contract. It is in this that you must understand that whatever is presented in the insurance quotes do not tell everything about the insurance service. If possible, request from your insurance provider a copy of the insurance policy contract and have a legal consultation about it.

Tip #3 - Compare the quality of services. A common error committed as we compare insurance is the mentality that the more the benefits the better. Though this has some validity, it is undeniable that the quality of the service is more important than quantity. If one insurance policy lets you acquire the benefits with 3 day processing while the other one takes months to do so then it is obvious which one is of better.

Tip #4 - Work with an expert. The process in which we compare insurance quotes is very plain. The best thing is to consult with an independent insurance expert. They have the right knowledge and they will always be of great help when you compare insurance quotes. One major drawback of this is that the insurance expert of your choice might be tied with one of the companies and will work to make his company your insurance service.

The above tips will help you compare insurance. But in the end it is your good judgment that you must rely on. Learn to be vigilant and do not be seduced by the flowery words and the advertizing tactics of these insurance companies. Be careful when it comes to the way you compare insurance quotes so you can get the best.

How to Choose the Right Life Insurance for You

If you think you need an economics degree to understand Insurance you're not alone. Companies are coming out with more and more complex products and what was once a relatively simple purchase is now complex. How do you choose the right life assurance?

First, let's go over a few basics. Life annuities is like ice cream. It comes in a variety of flavors. But it's still ice cream. Regardless of the form of life annuities, it is basically a contract between the owner of the policy and the insurance company, whereby the insurance company will make a payment of some amount upon the death of the insured. Life security has a variety of characteristics. Most importantly, the proceeds of a life annuities policy are generally tax-free to the beneficiary or beneficiaries - often a spouse, child, business partner or charity. Secondly, the payment is an amount certain at a time certain. The amount is the amount of coverage in force when the insured dies and the timing is immediately upon presentation of a death certificate. This provides certainty during a time of loss, unlike other investments such as real estate, precious metals, stocks or bonds.

When selecting a Insurance company, you should consider their financial strength rating and history. When considering the right life annuities product, you should consider whether you have a short-term need for coverage or limited funds, when term life annuities may be the appropriate choice. Or if you are seeking permanent coverage with tax-advantaged savings and growth features, you may consider universal life insurance. A popular product in the marketplace today is indexed universal life insurance, which has growth linked to the performance of an index, such as the S&P 500 index (representing 500 large-capitalization growth companies traded on U.S. markets).

Another popular product gaining momentum with financially savvy parents and grandparents is juvenile or child life insurance. Although a child does not have an insurance "need" in the classic sense, a parent or grandparent is able to take advantage of the low cost of juvenile life insurance for a healthy child and look forward to decades of tax-advantaged growth accessible to the policy owner and eventually the child can receive a fully paid policy when he or she has an insurance need of his or her own.

Regardless of what product you select you should speak to an experienced insurance adviser and understand your options.

Defy Your Condition With High Risk Life Insurance

If you are subject to certain health conditions, or if your work takes you into frequent peril (such as working in radioactive cleanup, dangerous police work, and so on), you may assume that it is impossible for you to enroll in a life insurance plan. However, just because you have a potentially life-threatening illness or an elevated chance of dying due to your line of work does not mean you cannot insure your life to provide compensation to your loved ones.

High risk life insurance is the solution to your situation. It provides not only a powerful, effective method of hedging against an unfortunate event, but also gives you the same peace of mind offered to those who are considered a better gamble by Canadian insurance companies.

Having your expectations met is important when you are on a quest for this type of coverage, and be aware that there will be a trade-off. Insurance companies are willing to insure you, but you need to do something for them as well, which generally consists of paying a substantial premium.

High premium aside, high risk life insurance offers you the opportunity to take control of your future and ensure that your loved ones will be spared any financial hardships after your demise. This type of policy lets you prove to yourself that circumstances cannot overcome your will to protect your spouse, children, or other relations, and that, despite serious illness or hazardous professions, you are still 'the master of your fate and the captain of your soul'. With high risk life insurance, you can be an effective provider for those who depend on you, regardless of your situation.

Professions and Sports that Require High Risk Life Insurance

Even if you are healthy, with the constitution and energy of an athlete, there are certain jobs that will prevent you from enrolling in standard life insurance plans. Some of these professions and sports include:

    Pilots - Whether they fly commercial jets, cargo airplanes, or smaller aircrafts used for various purposes, pilots have a higher risk of death than the general population. The mere nature of being involved in a job whereby a single operating error can result in a fatal accident means that those who earn a living with a pilot's license need high risk life insurance.

    Fire fighters and emergency workers - Those who regularly venture into perilous situations and are exposed to dangers such as being trapped in a collapsing building, smoke inhalation, accidental falls, and other potential health hazards may require this type of coverage.

    Loggers - Individuals who make their living with chainsaw and skidder in the our vast forests typically require high risk policies, since they are not only working with dangerous equipment, but also facing the risk of being crushed under a falling tree.

    Commercial fishermen - Because they can encounter violent storms and are constantly exposed to nature's elements in order to earn a living, commercial fishermen most often do not qualify for standard life insurance.

    Certain athletes - If you participate in scuba diving on a regular basis, or engage in sports which include a high risk of injury or death such as mountain-climbing or sky diving, you will likely need a high risk policy.

There are other dangerous professions and sports that do not appear on this list; therefore, if you are in doubt about whether your activities mark you as one of those who endanger their lives on a regular basis, contact a reputable insurance company and ask questions.

Serious Health Issues that Require High Risk Life Insurance

In Canada, diabetes, cancer, and heart problems mark you as a high risk in the view of most insurance firms. Cancer patients are placed in the high risk category, even if their illness has been successfully dealt with or the cancer is in remission, until at least a decade has passed without new signs of its presence. Although diabetics are quite capable of living into their eighties, the slightly elevated risk of mortality due to diabetic shock is enough for insurance companies to refuse them standard policy terms.

Buying high risk life insurance is a positive, constructive step toward taking care of your family, despite physical health conditions or a dangerous line of work.

Small Business Insurance Quotes

Small business insurance quotes, while provided aplenty on the Internet, may or may not provide all the protection a particular business may require. There is too much at risk when operating a small business to take any chances of operating without the protection of business insurance. It takes the help and guidance of a qualified insurance agent or broker to help small businesses understand the dynamics involved in obtaining coverage that is risk specific. A tire salesman, for example, has a much different exposure than the Chinese restaurant where he goes to lunch.

Commercial insurance policies are best written for each individual risk as opposed to being written for the individual. While it is possible to obtain multiple small business insurance quotes, it is also important to make sure that they compare across the lines of coverage that are being offered.

Policy limits may apply to the physical property as well as the general liability exposure. Liability is the all-important third party protection that not only extends to customers on the insured's property, but also to the products and completed operations that the business performs.

All too often, the unforeseen exposure may only be discovered when a suit is filed, making the safety net of business insurance an invaluable part of the business arsenal when it comes to protection. Typically, a good agent will be in communication with an insurance company's underwriter where they can both be instrumental in tailoring a package that not only covers the exposures sufficiently, but will also include the appropriate credits so that agreement on price can be made without unnecessarily limiting coverage. With business insurance, it is not advisable to manipulate the coverage to mitigate the price. There is far too much at risk.

As any small business owner recognizes, there is a lot of blood, sweat and tears that go into getting the business up and running. Since insurance rates are regulated by the U.S. Department of Insurance, it's a safe bet that lines of coverage will compare rather well between small business insurance quotes. It is then left up to the competition between carriers where they will allow credits to bring the premiums down. Further, a good agent will work with an existing insured or potential client so that every effort is made to ensure the safest risk possible and therefore the highest level of credits available to further help reduce the premiums.

There are many efforts that can be made to provide a safe environment for customers, as well as employees. Slip and fall hazards can easily be avoided, yet often, these are the cases that are most often settled without dispute due to the costs they may incur. Installing safety railing or painting a step to make it more visible are just examples of some of the simple steps that can be taken in an effort to prevent needless accidents. A wholesome approach to running a business, as well as a wholesome approach to appreciating the requirements of a comprehensive general liability policy will allow a business owner to discern the best coverage for the best price among small business insurance quotes.

Captive Insurance Company - Reduce Taxes and Build Wealth

For business owners paying taxes in the United States, captive insurance companies reduce taxes, build wealth and improve insurance protection. A captive insurance company (CIC) is similar in many ways to any other insurance company. It is referred to as "captive" because it generally provides insurance to one or more related operating businesses. With captive insurance, premiums paid by a business are retained in the same "economic family", instead of being paid to an outsider.

Two key tax benefits enable a structure containing a CIC to build wealth efficiently: (1) insurance premiums paid by a business to the CIC are tax deductible; and (2) under IRC § 831(b), the CIC receives up to $1.2 million of premium payments annually income-tax-free. In other words, a business owner can shift taxable income out of an operating business into the low-tax captive insurer. An 831(b) CIC pays taxes only on income from its investments. The "dividends received deduction" under IRC § 243 provides additional tax efficiency for dividends received from its corporate stock investments.

Starting about 60 years ago, the first captive insurance companies were formed by large corporations to provide insurance that was either too expensive or unavailable in the conventional insurance market.

Over the years, a combination of US tax laws, court cases and IRS rulings has clearly defined the steps and procedures required for the establishment and operation of a CIC by one or more business owners or professionals.

To qualify as an insurance company for tax purposes, a captive insurance company must satisfy "risk shifting" and "risk distribution" requirements. This is easily done through routine CIC planning. The insurance provided by a CIC must really be insurance, that is, a genuine risk of loss must be shifted from the premium-paying operating business to the CIC that insures the risk.

In addition to tax benefits, principal advantages of a CIC include increased control and increased flexibility, which improve insurance protection and lower cost. With conventional insurance, an outside carrier typically dictates all aspects of a policy. Often, certain risks cannot be insured conventionally, or can only be insured at a prohibitive price. Conventional insurance rates are often volatile and unpredictable, and conventional insurers are prone to deny valid claims by exaggerating petty technicalities. Also, although business insurance premiums are generally deductible, once they are paid to a conventional outside insurer, they are gone forever.

A captive insurance company efficiently insures risk in various ways, such as through customized insurance policies, favorable "wholesale" rates from reinsurers, and pooled risk. Captive companies are well suited for insuring risk that would otherwise be uninsurable. Most businesses have conventional "retail" insurance policies for obvious risks, but remain exposed and subject to damages and loss from numerous other risks (i.e., they "self insure" those risks). A captive company can write customized policies for a business's peculiar insurance needs and negotiate directly with reinsurers. A CIC is particularly well-suited to issue business casualty policies, that is, policies that cover business losses claimed by a business and not involving third-party claimants. For example, a business might insure itself against losses incurred through business interruptions arising from weather, labor problems or computer failure.

As noted above, an 831(b) CIC is exempt from taxes on up to $1.2 million of premium income annually. A CIC must receive premium payments of at least $350,000 annually to qualify for the favorable tax treatment under IRC § 831(b). As a practical matter, a CIC makes economic sense when its annual receipt of premiums is about $500,000 or more. A captive company commonly insures businesses outside of the captive's economic family, thereby increasing annual premium totals. A group of businesses or professionals having similar or homogeneous risks can form a multiple-parent captive (or group captive) insurance company and/or join a risk retention group (RRG) to pool resources and risks.

A captive insurance company is a separate entity with its own identity, management, finances and capitalization requirements. It is organized as an insurance company, having procedures and personnel to administer insurance policies and claims. An initial feasibility study of a business, its finances and its risks determines if a CIC is appropriate for a particular economic family. An actuarial study identifies appropriate insurance policies, corresponding premium amounts and capitalization requirements. After selection of a suitable jurisdiction, application for an insurance license may proceed. Fortunately, competent service providers have developed "turnkey" solutions for conducting the initial evaluation, licensing, and ongoing management of captive insurance companies. The annual cost for such turnkey services is typically about $50,000 to $150,000, which is high but readily offset by reduced taxes and enhanced investment growth.

A captive insurance company may be organized under the laws of one of several offshore jurisdictions or in a domestic jurisdiction (i.e., in one of 39 US states). Some captives, such as a risk retention group (RRG), must be licensed domestically. Generally, offshore jurisdictions are more accommodating than domestic insurance regulators. As a practical matter, most offshore CICs owned by a US taxpayer elect to be treated under IRC § 953(d) as a domestic company for federal taxation. An offshore CIC, however, avoids state income taxes. The costs of licensing and managing an offshore CIC are comparable to or less than doing so domestically. More importantly, an offshore company offers better asset protection opportunities than a domestic company. For example, an offshore irrevocable trust owning an offshore captive insurance company provides asset protection against creditors of the business, grantor and other beneficiaries while allowing the grantor to enjoy benefits of the trust.

For US business owners paying substantial insurance premiums every year, a captive insurance company efficiently reduces taxes and builds wealth and can be easily integrated into asset protection and estate planning structures. Up to $1.2 million of taxable income can be shifted as deductible insurance premiums from an operating business to a low-tax CIC.

Warning & Disclaimer: This is not legal or tax advice.

Internal Revenue Service Circular 230 Disclosure: As provided for in Treasury regulations, advice (if any) relating to federal taxes that is contained in this communication is not intended or written to be used, and cannot be used, for the purpose of (1) avoiding penalties under the Internal Revenue Code or (2) promoting, marketing or recommending to another party any transaction or matter addressed herein.

Copyright 2011 - Thomas Swenson

http://swenlaw.com

Thomas Swenson practices law in the areas of asset protection, business planning and intellectual property.

Among his specialties are the design and implementation of offshore dynasty trusts holding private placement life insurance (PPLI). In full compliance with U.S. tax laws, an irrevocable, discretionary, offshore PPLI dynasty trust provides a life insurance benefit, tax-free investment growth, asset protection against all creditors, financial security, and perpetual tax-free enjoyment of trust assets by beneficiaries.

He also provides counseling and services to US business owners regarding captive insurance companies, which reduce taxes, build wealth and improve business insurance protection.

Managing Risks For Schools and Academies With Academies Insurance in the Face of the Winter Weather

The festive season is getting under way and with it, comes the colder weather and as many well know, this comes with a new array of risks to contend with.

For those responsible for the running and safeguarding of schools, academies and their pupils' interests, this should merit their attention.

Every school is different, and so the risks faced will vary. Investing in the correct Academies Insurance policy is important for risk management and budgeting. The onset of colder weather increases the chances of accidents happening and it also increases the likelihood of infrastructure and buildings damage. All of these things, particularly infrastructure and buildings damage, can have a disruptive effect on the ordinary running of a school.

With government targets to meet and standards to adhere to, school disruptions and closures are the last things that school teachers and staff want to contend with. In the same way that businesses can have their operations interrupted by a lack of Internet access or power, so too can a school. So it is important for school governors to ensure that safeguards are in place to mitigate the effect of such an interruption; they also need to have the correct insurance cover in place to cover the costs of reparations

It is important then for academies and schools to seek out tailored cover. Often, academies insurance will cover a range of risks, including liability, buildings damage, and professional indemnity for staff, employer's liability and more. It is therefore critical, in today's uncertain economic climate, to strike an efficient, cost-effective balance between the cover required and the outlay for the policy.

With cuts being made across the public sector, highlighted more recently by the proposed pension cuts for public sector workers, funding is certainly an issue. What school governors need to understand is that a good insurance policy can help them manage risks in a way that is financially beneficial. The cost of repairing a building outright, when compared to investing in schools insurance that covers buildings damage, is markedly different. Given the harsh winter weather the UK has experienced over the past three years, collapsed roofs and infrastructure damage is not out of the question.

Such a policy is also better for cash flow, as it is the insurers who will have to shoulder the costs of the incident as opposed to the school. Although, a successful claim depends upon appropriate measures and procedures being in place to ensure that the school cannot be held liable in a way that is not covered by their policy.

It is very difficult to foresee the occurrence of any accident or disruptive event, but preparations can be made that can increase the likelihood of a successful claim should something untoward occur. It is wise for school and academy managers to consult with a specialist Business Insurance Provider to understand their needs so that they know which kind of measures they need to put in place to adhere to their insurer's terms.

Here at aba we believe in offering only the best insurance products and services to businesses, ensuring you get only the cover you need and not excessive policies that you'll never make use of. As the economy begins to find its feet again, insurance will continue to be a cost that many companies will try to skimp on. Cut back on policy price, not quality.

Medical Malpractice Insurance: Lawsuits Against Doctors

In recent years, cases of malpractice in the medical environment has increased dramatically. Accordingly, the increase in the number of lawsuits filed against doctors.

For medical abuse cases are usually related to lack of discipline, leaving people at risk through lack of medical care, poor service, negligence in carrying out operations, incorrect diagnoses, and so on, until the theft of human organs. However, on the other hand, the fact is that many claims are submitted only to make money. There are strict rules and regulations that determine which actions or inactions on the part of physicians can be attributed to the forensic persecuted.

Of course, it's hard to believe that doctors make mistakes on purpose. But the responsibility of physicians to the community is so high that even an ordinary negligence in the performance of their duties can lead to serious consequences. Therefore, this is almost tantamount to negligence "intentional mistake".

In addition, a number of claims in favor and against the medical staff of hospitals. It's no secret that in many clinics and hospitals in order to save money hire low-skilled and poorly trained nurses. In the final analysis suffers quality of patient care.

Doctors and medical associations have their own views on medical errors. While some experts admit that hospitals should be more cautious in dealing with patients, most doctors suggest that in many cases, patients and their families are actively intervene in the process of treatment and should be held accountable for their actions.

There is a proper procedure for filing lawsuits against doctors. If the patient says that against him by a doctor was malpractice, he must prove in court that the medical office or physician failed to meet its obligations. The plaintiff, as is expected to provide sufficient evidence to the court confirming the breach of duty by the defendant because of the negligence or carelessness.

A Great problem is that most people do not take action against doctors because of the all the effort involved. However, this is not entirely correct. Submission of such claims is a kind of public control over the activities of doctors and not allow them to feel their impunity for abuse of office. If your problem is really due to any action the doctor, and you have been injured, you have to fight for their rights. You thus will contribute to this did not happen in the future with another person.

Life Insurance Is for People of All Ages and Backgrounds

There used to be an image problem about items like life insurance with many considering them to be only for older people or people with too much money at their disposal. In recent times though, this perception has changed and the benefits of having good policies looking after a family in all circumstances are very much in vogue. Death and passing away is always going to be a difficult prospect to talk about for people but knowing that your loved ones are looked after is something that provides great comfort for many people. This is why these policies are now considered vital components of life for a great number of individuals.

It is never too early to start thinking about life insurance. When you are 17 years old with your whole life ahead of you, you are unlikely to spend too much time thinking about death and your loved ones being left behind, but the earlier you start, the better legacy you can leave them. When you start working, it is of benefit to start thinking about plans and policies because even a small amount of money put away each month can start to add up. As you progress through your working career, there will be opportunities to increase these amounts if your job and life circumstances dictate but remember that it is never too early to plan ahead.

It is also never too late to start thinking about a life insurance policy, which is something that you may need to consider. Yes, the levels of benefit that accrue from a policy that has been in place for many years will be higher than a short-term policy but any payment is likely to be better than nothing at all. Life circumstances can change at any moment and it could be that your family lifestyle may change in a short space of time. This is not a problem and there are policies and plans that can bring comfort to you and your loved ones, no matter how life turns out.

It is also fair to say that more and more people are deciding to leave Britain and try pastures new. Whether it is the depressing weather that drags you down or you think there are better career prospects abroad, there is no barrier to receiving a payout wherever you and your family are in the world. If you are contemplating emigrating, there is no need to be overly concerned about any negative impact that this would have on your life insurance policy, just ensure that you have discussed the options with your insurance provider to see what you need to do.

Another issue that people will have to weigh up with regards to their life insurance policy is whether the payment will be made on a monthly basis or in a lump sum payment. There are positives to both types of payment and every family will have their own opinions and a viewpoint on what is right for them. This flexibility is a great comfort for many people because it means that whatever situation their loved ones face in the event of a sad passing, there will be the ability to deal with it in a positive fashion.

3 Benefits of Indexed Universal Life Insurance

There are many reasons to buy life insurance but many people do not understand the living benefits of life insurance. Life insurance is not merely used as a death benefit to take care of your responsibilities after you're gone, but also can be used as a tax-free retirement strategy in your later years.

Benefit #1- Tax-Free Retirement Strategy

Instead of putting money into your 401K or IRA account every month, start putting into your own bank that is your insurance policy. You see, your account value will build up and you do not have to wait until your 59 ½ to use your money for retirement.

Currently you are saving money that you will use in retirement. The problem is that when you start pulling the money out, it is taxed. Money taken out of your indexed universal life insurance policy (IUL) is not taxed. It is considered a policy loan and there is the loophole.

Benefit #2- No Losses or Management Fees

On average during any 10 years there will be at least 3 years that the market will be down. The losses will eat into your account balance in addition to the fees associated with your 401k, Ira, and mutual funds.

With an Indexed Life Policy, your cash value will never be subject to market losses ever again. These policies included a yearly minimum guarantee as well as a S&P 500 cap of 10% or better. You are guaranteed always to make money without any of the downside effects. You do not only keep your principal but you keep any previous years gains as well.

Your policy will not be subject to ongoing management fees. Those fees are associated with risky investments and this is a regulated fixed insurance product. Thus, more of your money is going toward making you money instead of making someone else rich.

Benefit #3- Tax-Free Growth

As mentioned early, your policy will make you money and as the money grows you are not taxed on the gains. Similar to your 401K or Ira accounts. As more of your money is going toward making money and not going toward paying for taxes, your money or cash value will explode.

Combine tax- free growth, no losses, and tax-free retirement and you have one heck of a savings program. The problem has been that Americans have been brain washed into thinking that the only way they can currently save for retirement is through risky vehicles such as 401K's, IRA's, Mutual Funds, and stocks, which is simply not true. Life insurance especially Indexed Life Insurance could be your gateway to greater savings capabilities as well as a peace of mind.

Make sure you consult with a qualified life insurance broker to see if this approach will work best for you and your timeline.

Only 3 Places to Put Your Money!

There are only 3 places where people can put their money. They are Banks, Money Management companies, and finally Insurance carriers. The financial history of Banks and Money Management companies are less than to be desired even though the government, banks, and financial companies do their best to convince you that they are secure.

The world of money and how it works is not as difficult to understand as you might imagine. But let us take a look at banks.

Banks:

Banks are regulated but they have a lot of power in Washington. There are states that have laws that you can go to jail for just writing or talking about how bad your bank or the banking industry really is.

Banks and the deposits are FDIC insured. Bank accounts are insured that you will not lose your money. Who pays for this insurance, why we do as tax payers. The insurance only covers deposits up a declared cap and can be paid back over 10 years. Check the FDIC for a list of failed banks and I guarantee your jaw will drop. By the way, the Banks were bailed out by tax-payers.

Money Management Companies (Financial Institutions):

These companies promise they will take care of your money and make you nice returns on your money. Everybody is a financial genies when the market goes up but what happens when the market goes down?

Your accounts are subject to management fees, broker fees, and other fees. In mutual funds there is a fee called a turnover ratio fee and no one can explain how much that will cost you because they do not know how many times the fund manager will have to turn over the whole portfolio to make a profit. By the way, some of these companies were "Too Big to Fail."

Insurance Industry:

Take a look at history. The insurance industry is the heavy weight in the world. Governments have borrowed money from insurance companies during the Great Depression. ING helped fund the Louisiana Purchase for the United States.

What happens when an insurance company goes under? If they do, they usually get bought by another company for penny's on the dollar. Also most states have a guarantee association that covers up to $100,000 - $200,000 of deposits.

Products such as fixed indexed annuities are fixed and are regulated by insurance departments and are required to have a much higher amount of their assets in a reserve fund than banks and financial institutions. Banks are allowed to do fractional banking and loan out more money than they have in reserve.

Conclusion:

If you want to go with a safer savings vehicle take a look at regulated insurance products like a fixed annuity or indexed universal life insurance products. You will not have to worry about losing your principal and interest gains.

Life Insurance: An Introduction

A family depends on the income of its breadwinner for its sustenance and for maintaining a chosen standard of living. Every family will have certain aspirations to have a decent life, to provide a standard education to children leading to their worthwhile employment, to arrange and celebrate suitable marriage for daughters, to own a roof to live under, to have good medical care for all members and of course to have financial independence and stability in old age to lead an honorable life till the end. All these depend upon the regularity with which the earning members of the family, especially the breadwinner brings income to the family and the family's spending and saving habits.

Life is uncertain. But the perils faced by human life are certain. Death may take away the breadwinner permanently from the family. But disability is much worse. The individual not only meets his economic death due to disability but also becomes a burden to the family. Yet another peril is the risk of living longer, ushered in by today's medical technology. It is rightly said" An old man's greatest burden is an empty purse". Dependence on one's children, however, loving and affectionate they may be, is becoming more and more difficult and impossible. Economic dependence is an enemy of self-respect for an individual as is the case with a nation.

The Trinity, viz., death, disability and old age lead to the economic death of an individual. One day he may be earning a five-figure income per month, but the very next day, when one of the above strikes, the income can become zero. Out of the three, the third one i.e., old age can be predicted accurately. The other two are not amenable to prediction by human intelligence. They are still the domain of God or Fate. When income stops neither the individual nor the family will have anywhere to go. How, then, can such a family fulfill their legitimate aspirations in an economic sense? Who will come forward to redress their grievances? Probably life insurance is the only solution available to the breadwinner of each and every family to safeguard his family members from financial problem which is likely to arise due to his untimely death or accident or at old age. Insurance is essential for all the sports persons than others. You can claim insurance for any sports related injuries treatment medical expenses.

The Author Is a professional Skating Trainer and health consultant, provides skating training for all the age groups in Bangalore. He supplies quality skating products in Bangalore

Car Insurance for Teens

Teen drivers present some special situations regarding the expense of their car insurance. The following tips will help clarify considerations for teen car insurance.

Drivers are accustomed to considering many of the criteria auto insurance companies use in determining insurance rates including the vehicle, the driver's driving record and how far the driver will be driving. Car insurance for teens is expensive because teens are new drivers and as a group they are statistically at more risk to have accidents, making the insurance company liable.

When you are considering what is necessary for a teen driver, the age of the teen is very important. For most teens under the age of 18 executing a valid contract is not possible. Car insurance coverage is a contract and therefore they will not be able to purchase their own car insurance. If you are the parent of a teen who has a learner's permit you must call your insurance company to find out whether your teen needs to be insured under your policy. Many states do not require separate insurance for teens under the age of 18 who are driving with a learner's permit.

There are certain situations where teens are permitted to execute valid contracts. Most notably, in the instance of an emancipated minor the teen will obtain adult privileges such as the right to contract. In this instance the teen will be able to purchase auto insurance.

If a teen is engaging in risky behavior you cannot use your parental authority to get the teen's license taken away. Once the teen is licensed even if you are paying for car insurance, the most you will be able to do is stop insurance coverage for the teen. This is not wise because if the teen decides to drive the teen will have the legal difficulties of being an uninsured driver. Instead, delay allowing your teen to obtain his driver's license until the teen is 18 and can legally obtain his own insurance.

If you have a child who is older whom you still want to carry on your insurance policy, you can usually do this as long as you own the car. It is more difficult to obtain a policy for someone when you don't own the car. If you want to help an older child pay for car insurance for a car that child owns, you can privately provide funds for car insurance.

As a person gets older and has more driving experience his rates normally will drop. In the meantime, parents whose policy covers their teens can use traditional ways to lower insurance costs. Some auto insurers provide discounts if teens obtain good grades which can help save you a few dollars.

Sometimes teen auto insurance expenses can be reduced by having the teen take a defensive driving class. These classes are not available in all areas as a means of reducing insurance rates, nor do all insurance companies reduce rates if you take such a course. Check with your insurance company to find out whether this option is available to you.

Part of the driving experience for everyone, including teens, is the process of getting auto insurance. Consider using the above tips to choose affordable car insurance coverage for teen drivers.

To learn more about saving money on new driver auto insurance, visit Affordable-Auto-Insurance-Quotes.net. Quickly compare student auto insurance rates among the nation's top carriers using one fast form. Be sure to pick up your free gifts there too: Simple Car Care Tips, Financing Your Car, and our handy Auto Accident Report Card to keep in your glove box.

Should I Purchase Credit Life Insurance?

What is credit life insurance? Most people have never heard of it let alone be aware that they may own it. Credit life is simply insurance coverage used to cover a debts should you die. Examples of some types of debts where you might find this type of coverage would be automobile loans, credit cards, or other revolving accounts from department stores, furniture companies, etc.

Initially it might sound like a good idea to have your debts paid off should you die rather than have you loved ones be stuck with the unpaid debts. The biggest problem with credit life is the extremely high cost of the coverage. Life insurance is priced on a per thousand cost basis. For example, a healthy 30 year old male could find a 10 year term plan with a coverage face amount of $100,000 in today's competitive life market for only $8.00 to $10.00 in monthly premium. Broken down into a cost per thousand basis means that the plan in the example is only costing between 8 to 10 cents per month per thousand dollars of coverage which is very inexpensive. Although the credit card company may only be adding a couple of dollars to the monthly bill to cover the outstanding balance, it's a very expensive way to purchase coverage. For example, if you pay an extra $2 per month to cover your $2000 credit card balance, you're paying nearly $1 per month per thousand dollars of coverage. It doesn't sound like much, but it's nearly ten times the cost of a competitive term life insurance plan.

Some other potential problems include the cost of credit life being added to the balance before interest is added. This is especially true of credit card and revolving accounts. That means that you could be paying interest on top of high priced life insurance! Another potential problem with credit life is that the creditor automatically names themselves as the beneficiary. There may be times when having a loan paid off immediately is not the desired result.

You simply should not purchase life insurance on a piece meal basis using credit life to cover outstanding debts. Here is a solution. Purchase enough insurance coverage with a competitive company to cover all of your needs under a single policy. Financial experts recommend 8 to 10 times your annual salary as an appropriate amount of coverage if you have responsibilities such as being married and having children. Having an appropriate amount of life insurance to cover loss of income, your mortgage and all of the other outstanding debts under a single policy is just good financial planning and the most economical way to do it.

Temporary Auto Insurance: The Basics

The temporary auto insurance is also known as the short term auto insurance. This policy can offer what the standard insurance can, but only for a short amount of time. Like the standard policy, your car or the car that you borrowed, will be protected from theft and wreckage.

The application process for the temporary auto insurance is easier and shorter as compared to the standard insurance. In this period of technological advancement, most, if not all, of the insurance providers allow processing online. Yes, all you have to do is look up the requirements for the application online and you can send them online, too. However, some companies may not allow online processing. Companies that allow online processing have hotlines that are on 24 hours a day, 7 days a week, so you can process the requirements anytime. But let's say that you're not satisfied with the insurance policy. What if you want your policy cancelled? Cancellation may be complicated with standard insurance policies, but with temporary auto insurance, it is very easy. A cancellation letter is all that will be needed. Of course, refunds may be a bit complicated and procedures will vary from company to company.

Although this kind of policy isn't as big a deal as the standard car insurance, it's also a good idea to look around and check out the different insurance providers and what they have to offer. You may be using that policy for only a short while, but you can still save some money if you choose the right provider. Remember that it's very easy to ask for an online quote from these companies. That means that there's no reason for you to be shy when asking for an online quote. As long as you pass the requirements, they can send you the quote. But it's also important to take note that there are some requirements that are common among all providers. First of all, insurance providers are less likely to entertain applicants below 25 years old. Another important requirement is your driving record. Your driving record must be very clean or you won't be getting that policy. If you're a first time driver, you will definitely have a hard time looking for a provider. Insurance providers rarely entertain first time drivers. Just be sure to do you research thoroughly, before choosing an insurance provider.

The temporary auto insurance does have its complications, but it's safe to say that it is very convenient. Just don't think that you can use the temporary auto insurance to replace the standard insurance. This policy will only be good for short durations only.

Before driving a borrowed car, always remember to get temporary auto insurance. You never know when an accident will happen. When expecting a visit from relatives or friends from afar who are going to borrow you car, you should get this policy, too. In that way, you and your visitors will have peace of mind in driving around your car. Yes, the temporary auto insurance is very helpful. Car security has never been more comfortable. It is also more convenient, now that you can process applications and payments online.

The temporary auto insurance is very simple. Of course, you may want to read more about so just go to temporary auto insurance.

Finding the Right Rabbit Insurance

Protect your pet hare's overall health by availing of rabbit insurance. It is a cheaper and better option than paying for a medical emergency or veterinary fees in full. There are many types of insurance suitable for the needs of your beloved rabbit as well as your financial capacity. Owners can avail of cheap pet insurance that covers basic needs or look for more comprehensive VIP pet insurance. When it comes to pet insurance compare at least three different companies and products to get the best deal.

Before getting your pet rabbit insured, it is important to know what to look for and where. Not all insurance companies offer rabbit insurance. In some cases, companies may categorize rabbits as exotic pets.

Be specific when it comes to finding the pets best insurance. Different breeds of rabbits are prone to specific types of illnesses and ailments. It is important for the owner to know the specific breed of their pet to determine what type of ailments it is prone to.

Pay attention to the company's requirements and terms. Insurance companies often require that your pet be within a certain age range. For some companies, rabbits that are over a certain age are more prone to getting sick, increasing the likelihood of paying for claims. Other companies may cover older rabbits as long as the pet has been insured prior to reaching the age limit. Another consideration is the amount itself. Insurance companies may only pay if the cost is within a certain range. Any amount beyond this range will be shouldered by the owner.

Equal attention must be given to what is not included in the coverage. Most veterinary pet insurance policies do not cover routine services such treatment for fleas, having the pet vaccinated or neutered. In such cases, owners will have to bear the full cost of such services.

Much like insurance for their human counterparts, companies do not often insure pets with pre-existing medical conditions. Ask whether the insurance will cover conditions that develop because of a past problem. It is also important to check the company policy on recurring conditions. Although breeds are prone to develop certain conditions, companies normally cover a maximum number of claims for a specific condition or over a certain time period. If your pet gets sick often, the insurance policy may not cover all treatments.

Bear in mind that insurances are not effective immediately. The delay period can take as long as several days to several weeks. Any medical emergencies that occur within this period will be covered by the insurance.

There are other perks to getting insurance for your pet rabbit. If your pet gets stolen or lost, some companies will offer money to advertise the loss and offer rewards for its return. Another perk is if you get sick or may need to cancel your holiday trip because of your pet. Some companies will offer to pay fees for a rabbit re home while you are recuperating. If you have multiple pets, companies such as RSPCA pet insurance will offer discounts if both are insured under the same company.

Health Insurance Deductibles

Health insurance plans have changed in America over the last few decades. When insurance first became available there were no co payments for prescription drugs and doctor visits. There were no benefits for preventive care services through your insurance plan. Those plans primarily focused on major medical surgery and emergency room situations. Every medical expense was subject to a deductible before the insurance would pay anything. The deductibles were lower than they are today. But a $50-$100 dollar deductible wasn't cheap when it was normal. The reason for the deductible is to lower the monthly costs. The higher the deductible, the lower the monthly cost because the insurance company would be less likely to incur a cost the higher the deductible goes.

This is a major consideration in the price of your insurance each month. If you think you are paying too much for insurance, many Americans will choose a higher deductible. These days a deductible of 1000 or 2500 is not unusual. While that is a lot to pay out of pocket in the event of an illness, nobody is required to pay it if they do not get sick or injured. It is not unusual for someone to have a plan for ten or twenty years without paying anything toward a deductible if they are healthy and do not use medical services. Doctors visits for sickness and wellness check-ups that people might use once or twice a year might be a few hundred dollars out of your pocket. But the savings in monthly premiums could more than make up for that amount each year.

This is where they came up with the concept of Health Savings Accounts (HSA). Health savings accounts couple a high deductible health plan (HDHP) with a tax free savings account to try to keep costs under control. These plans are also known as consumer driven health care plans. The reason for this is that the consumer is more likely to reconsider the doctor visit or expensive and questionable test if they have to pay for it out of their pocket rather than paying a single co payment for everything they do. Most HSA's come with plans with a 2500 or 5000 deductible. The insurance will not pay anything until that deductible is met except for a free annual physical each year. These plans offer more savings if you put the money to pay for the deductible in a savings account that acts much like an IRA. Individuals and families can take the money they put into the savings account off of their taxes. This way if they need to satisfy the deductible for a medical claim, they have the money in a savings account. The high deductible causes lower premiums for the insurance. So if they don't use the medical insurance they get to keep the money. Consider higher deductibles to lower your medical insurance costs.

Free Car Insurance, Where Do I Apply?

The CAARP (California Low Cost Automobile Insurance Program) is a state-sponsored service that offers automobile liability insurance to drivers who qualify for the Good Driver Discount, and who establish a financial need. In order to qualify for the low cost automobile insurance program, the applicant must have a good driving record. The second requirement is that the insured vehicle can not be worth in excess of $20,000. Your vehicle's value must be below the amount of $20,000.

The liability limits offered under this program are less than those required by the state of California. The liability limits in California are $15,000 per person injured, $30,000 per accident and $5,000 property damage liability. The limits offered in the program are $10,000 bodily injury or death per person; $20,000 bodily injury for each accident; and $3,000 property damage per accident. To apply you must first check the online applicant income eligibility chart. You will find it on the California Department of Insurance website. You must visit insurance.ca.gov to see if you qualify for the low-cost auto insurance program.

According to the chart, a one-person household has an income ceiling of $27,075 annually to qualify for the low cost auto insurance program. Then you must check the list of insurance rates that is available online. Rates for the state program will vary between counties, so before setting up a policy, you must need to know exactly how much you will be paying. The national nonprofit AIPSO website has a document that breaks down the amount of the annual premium per vehicle. You will then have to take an 11-question test on the Department of Insurance site to see check your eligibility. The questionnaire will determine if you meet the program's eligibility guidelines. Some of the questions are very simple ones such as whether you're a California resident, what is the value of your vehicle, is there an accident history and whether your vehicle will be used for business or commercial purposes.

Finally, you will have to find an insurance agent in your area to set up the policy. Once you complete the online questionnaire and are eligible for the low cost auto insurance program, you will be asked to enter your zip code. You will then be presented with a page that has a list of insurance agents in your local area. The list includes the agents' name, business address and work phone number. You must contact a licensed agent on that list in order to apply for the automobile liability insurance policy. Your agent will then help you complete the insurance application, and collect the required deposit and documents needed for this program to get you started.

The program is not free. It is meant to provide you with a lower insurance premium based on a financial hardship. However, the insurance premium is not lower because you have compared and shopped insurance carriers but because you are buying lower liability limits than those required. You will be surprised that when you compare and shop rates between insurance carriers you will find a lower rate with more coverage and higher limits of liability that will protect you from a law suit.

Go Insurance Center
10769 Woodside Ave Suite 210-B
Santee, CA 92071

(619)442-6666
(619)442-6667 fax

Life Insurance and Newlyweds

Life insurance is probably the last thing on your mind when you are planning a wedding or just got married. The truth is you can never be too prepared for the future. You should begin talking to your spouse about getting insurance for your life to help protect you both for the next chapter of your life. There are many reasons why you should get insurance and create a will. You will have many options to choose from so that you and your new hubby or wifey are set.

You need to plan out a will so you can decide what will happen to your estate after you pass, hopefully a long time from now. Many couples don't think that they need to get life insurance because they don't have kids. It doesn't matter if you have kids or not, you still have each other which means you still rely on each other. If you both pass on and you don't have a will that states your wishes and what you want to happen to your estate, then the state steps in with complete disregard to what your family's wishes are. You and your spouse need to seriously sit down and discuss what both of your wishes are then you need to make it legal. Talk to a trusted lawyer who can write up a will for both of you so your family knows what it is that you want to happen in the event that you are gone.

Couples may want to think about getting term life insurance, especially if they are planning to have kids. Term life insurance is just that, insurance for a certain amount of years. You can normally get it for 20 or 30 years at a time. If you do decide to get this type of insurance, you will want to make sure it will last at least until your children graduate college. This can help give you peace of mind that if something were to happen to you and/or your spouse before your children graduate, they will still be covered. Now, like with anything, you may want to shop around for the best deal possible. Some companies may give you better coverage at a slightly higher price than companies who promise a lower rate or monthly payment.

For those of you who don't want just a set term of insurance, and don't want to think about it later on, you can get regular insurance for you and your spouse's lives. This will cover you both in the event that one of you or both of you die. Most insurance will cover funeral costs at least, but you can also get it to cover so much of that person's salary so you can still pay bills. Like with the term life, you will want to shop around and get quotes from different companies so you can get the best deal possible. If you or your spouse's company offers insurance you can get it through the company. Some companies require you to do a physical exam before you can qualify for insurance for life, but you can find other companies that don't require a physical to determine if you have a pre-exsisting condition or not.

Many Different Types of Insurance Coverage

In the world we are living in today it would be unwise not to have some form of insurance. There are many different types of insurance coverage including home, auto, health, dental etc. Since insurance is something that you will pay for every month for almost your entire life, it is a good idea to compare insurance quotes to find the best choice. When you compare quotes it is important to look at several different aspects to be sure you are getting the best deal.

One of the first things to look at when you are comparing is the monthly insurance fees. This is the easiest way to judge one company from another. Now it is not always the best idea to immediately pick the lowest monthly rate because there can be other factors that will make the insurance worthwhile besides just the flat monthly rate. When you compare insurance quotes you are obviously looking for the best coverage for the least amount of money, so let us look at some other important things to pay attention to.

Another valuable area to research is the customer service department of each company. When you have a problem with your insurance you will have to contact customer service to help solve your problem. If the customer service of a company is not polite and helpful, it can turn you off to the whole company. While you compare insurance quotes, be sure to look up customer service reviews of these companies online. If the customer service of a particular company gets excellent review it really may be worth an extra few dollars a month.

When you compare insurance quotes be sure to look at what the specific coverage is. Not all insurance companies have the same amount of coverage for the same monthly fees. For example, some auto insurance companies will offer free towing or windshield replacement; these are benefits to consider. If you want to get the best deal it does take effort on your part. It may take you several hours to compare insurance quotes, but if you find what you need in the end it is worth it.

Make sure to read the fine print when you compare insurance quotes online. Insurance companies are obviously in business to make money. They want to make their policy look as enticing as possible while at the same time making as much money as possible. How do they accomplish this? If you are still learning to compare insurance quotes, you may get sucked into this trap. In order to avoid being tricked, make sure to ask as many questions as you can. Ask to read the contract, and spend time doing so. Again, if you are going to compare insurance, you need to put aside some time to do so.

With these tips you should be able to compare insurance quotes with confidence. Remember to put in the effort; it will pay off in the long run. If you learn to compare insurance you will save thousands of dollars and a lot of headaches over your lifetime. Once you learn the skill you can help friends and family compare insurance quotes as well.

Bristy Voelkel has been an insurance specialist for the past 4 years. She has worked with several top insurance carriers, saving individuals on their insurance cost. Bristy is currently standing by waiting to assist you in getting you free insurance quotes while assisting you in shopping for affordable insurance & saving you hundreds. Get started today!

Shopping for Health Insurance Coverage With a Pre-Existing Condition

There seems to be a lot of confusion these days when it comes to health insurance and pre-existing conditions. Sadly, this wave of misinformation ultimately leaves many people feeling nothing short of uninsurable. We would like to clear the air. Because, while it is true that some preexisting conditions can affect the specific premium you pay, they don't automatically ban you from getting the coverage you need to lead a long, healthy life. In this article we will answer some of the most frequently asked questions (FAQ) asked among individuals with pre-existing medical conditions and health issues.

Can I get health insurance coverage if I have a pre-existing condition?

In many cases, you can get health insurance even if you have a pre-existing condition. Of course, this will naturally depend on the severity of your condition, how far along you are with treatment and a various other factors. For example, a person who suffered a shoulder injury back in college doesn't automatically disqualify from being approved for a premium health insurance plan, such as Blue Cross Blue Shield, Humana or others. In most cases if the condition is acute (or isolated), the individual will still quality for health coverage with a major carrier. Regardless of what you have heard, there are typically options available for everyone.

Will my pre-existing condition be covered?

Whether or not your preexisting condition will be covered depends on two main factors. First, do you have an individual plan, or are you part of a group plan (for example, under your employer's health insurance plan at work)? There is generally more flexibility when it comes to group plans, as they tend to offer better coverage for employees with pre-existing conditions. Again, the nature of the condition may be a determining factor; this is the second condition. The best way to find out which options are available to you is to speak with an experienced, understanding health insurance broker. They have access to numerous health care plans, and regularly help individuals with pre-existing conditions find coverage when others cannot.

Can I afford health insurance if I have a pre-existing condition?

You'd be surprised. Over the years a stigma has attached itself to the act of getting health insurance if you have a pre-existing condition. It has become so dominant, that many people do not even both checking into it; instead, simply accepting their situation. This is the worst possible thing one could do. Most people are afraid to ask their employer questions about pre-existing conditions out of fear of getting fired. As a result, they simply bottle it up and hope for the best. Bad idea. Instead, I recommend speaking with an agent who represents multiple carriers and has worked with pre-existing conditions in the past. They know the industry well and can work with you based on your medical history.

On the other hand, someone who was recently diagnosed with a serious illness may have a more difficult time getting the same coverage they had prior to getting sick. Again, it's not an automatic denial. This is one area where working with an experienced insurance broker will be worth its weight in gold. A qualified broker will work with you in finding the right plan, by listening to your questions and concerns while offering real, unbiased suggestions.

Group Plans vs. individual Plans

If you've been in the workplace long enough to have filed a claim or two, you've probably noticed that group plans are a little more accepting of those with pre-existing conditions. Regardless of your specific situation, what is important to know is that options do exist. Some people are completely comfortable discussing their medical history with their employers. If you're like most people though, this is something that you prefer to keep confidential. If the later defines you, choosing your own plan may provide more peace of mind and discretion. The nature of your pre-existing condition will play a weighty role here. Many people feel they are uninsurable based on injuries or illnesses that took place years ago, and go on living under that assumption for no good reason. This is yet another reason why discussing your situation with an insurance broker can save you time and money in the long run.

Premier Financial Insurance, one of the Chicago area's most trusted health insurance brokers, has over 40 years of combined experience in helping people of all backgrounds get the health coverage they need. Information is available on their website at http://www.premierfinancialinsurance.net.

Shopping for an insurance policy, whether it's individual health, group health plans, family coverage, life insurance policies or medicare supplements, is one of the most important decisions you can make. I would encourage everyone to read more about the process at our website, http://www.premierfinancialinsurance.net. There, you will find answers to some of the most commonly asked questions regarding health insurance plans, pre-existing conditions, premiums, deductibles, HMO vs. PPO and more.

Medicare Supplement Insurance: Your Must Know Guide to Understanding Medicare Supplements

Medicare supplement plans come in a variety of flavors, and are sold by private insurance companies. Here are just some of your options.

Current plans are identified by letters, and include plans A, B, C, D, F, Select F, G, K, L, M, and N. An important note is that supplement plans work together WITH original medicare. Basically, these plans help cover some or all of the costs that Medicare does not cover, such as deductibles, Coinsurance, and co pays. Your deductible is the amount of medical cost you are responsible for before the insurance kicks in. For instance, for 2012, in the event of a hospitalization, there is a Part A deductible of $1,132 which Medicare does NOT pay for. There are also certain co pays you may be responsible for in the event of an extended hospital stay. There is also a Part B deductible of $162 which you are responsible for before Medicare will pay anything towards your doctor or outpatient costs. Additionally, your share of Part B cost is 20% for any covered procedure. As you can see, your shared cost under Medicare alone can add up considerably.

A supplement plan can offer you some relief from these costs. Using Blue Cross Blue Shield's plans as examples, the following applies:

1) Plans B, C, D, F, G, and N will cover that Part A deductible entirely.
2) Plans K, L, and M will cover a portion of the Part A deductible.
3) Plans C and F will cover the Part B deductible entirely.
4) Plans A, B, C, D, F, G and M will cover the Part B coinsurance entirely.
5) Plans K, L and N may have some limitations on Part B coinsurance. Are you confused yet?

Just remember that only a licensed insurance agent can clearly explain your choices.

Questions you should ask your agent:

1) Do I really need a supplement plan?
2) How much will it cost me?
3) Is there a network of doctors or hospitals I am restricted to?
4) If I move to another state, can I keep my supplement plan?
5) Are there any forms to fill out at time of service?
6) What if my doctor does not accept Medicare, am I still covered?
7) Am I covered out of the country?
8) When can I join a plan?
9) Can I change to a different plan at any time?
10) Does my supplement plan cover prescription medications?

When looking for answers to these questions, make sure that the advise comes from a medicare approved aent. Also look for a Company that has a well established record with Medicare.

Darron Smith


Health Plan Florida was made to give you Professional Advice on Health Insurance, TermLife Insurance, Whole Life Insurance, Medicare, Dental Insurance, Long Term Care and Annuities.