Full Protection To Landlords Through Let Property Insurance

The let property insurance

It is natural for a property owner to want to protect his or her property, whether it is a home or a company premises. The homeowners need protection to keep their family members safe while the need for protecting the company premises depends on the financial aspects. The let property insurance or landlord insurance helps to give financial support to the land owners. If a property is rented out, the landlord is earning through the property and hence it is necessary to get the property insured. There are many risks attached with the property that is given out for rent. The rented house may have many valuable items and any damage to these items will affect the landlord or the homeowner.

The Scope Of Landlord Building Insurance

The scopes of these insurance policies are many. Consider the case of a fully furnished home or an apartment that is given out for rent. The theft of items in the house creates a financial burden to the landlord. Natural calamities can affect the structure of the building, puts the occupants life in damage and cause damages to the contents in the building. It is a necessity to have landlord building insurance to overcome such problems. If you take into account the breakage of any household property, then the landlord insurance company will give the expenses for replacing the locks and doors. In case of any accidents taking place to the tenant inside the premises, the insurance will be helpful in covering the necessary medical bills. If there is some misunderstanding between the tenant and the property owner and the matter reaches the court, then the legal fees for the property owner is covered by the insurance company. The landlord can avail the insurance also for meeting the expenses for repairing any damage to the interior properties like furniture and other utility items or any damages to the exterior caused by the tenant.

Getting The Quote

You can get the quotes for let property insurance or the buy to let insurance through online. You can request for quotes from the reputed insurance company by giving details about the property. After considering the value of the property, they will give you their best quote. You will need to get the quotes from two or three providers and you will be able to compare their rates online itself in order to choose the best quote. The online quotes and the ability to compare the policies and quotes make it easy for the landlords to purchase the best insurance according to their convenience.

Selecting The Policy

While selecting the policy, keep in mind the area of the property and the value of the items in the property. Do not go for cheap let property insurance as they may be insufficient to cover any damages to your property. Select insurance companies that offer best deals to the landlords. Compare the different policies available online and ask for quotes from different insurance companies. Go through the terms and conditions of every single insurance company. This will help you to find the best one in town.

Insurance Totaled My Car - What This Means

"Your vehicle is a Total Loss." These words, more often than not, spark immediate controversy between an insured and their insurance company. The main cause of controversy between an insurance company and an insured as it relates to total loss is that most people feel their vehicle is worth more than it really is.

A vehicle, though historically not a good investment, is very personal to us. Many of us spend a great deal of time in our vehicles each day and grow attached to our car. Many others ''trick out" their cars and inherently feel that their modifications enhance the value of the car.

I thought it might help some folks if they heard exactly how an insurance company views this and how they go about compensating you for your car should it be determined to be a totaled. There are typically two main things involved in understanding this process: What exactly is a Total Loss and how is the value of a car determined. In this article I am going to discuss and define a Total Loss from an insurance companies perspective.

So, what exactly does it mean when your insurance company deems your vehicle a total loss? In general, there are two types or measurements if you will when it comes to making this determination: Financial or Economic Total Loss and an Obvious Total Loss.

Financial or Economic Total Loss
A vehicle is often declared an Economic Total Loss when the cost of repairs exceeds the value of the vehicle, plus sales tax, less your deductible. I am sure you have heard that there is a percentage used to determine if a car is an Economic Total Loss. You have probably heard numbers from 50% to 70%, or more. This is true, however, it is important to know that not all states set an actual percentage and that for the states that do not set percentages, it is up to the insurance company to determine what that will be.

Although all insurance companies that are free to set this number themselves are all different, a common number you will hear is 70%. What exactly does that mean? I thought a quick illustration might help:

Market Value $15,000
Plus tax $ 1,050 (7% used as example)
Sub-total $16,050
Less Deductible $ 500
Total Loss Value $15,550

Cost of Repairs $11,662
Repairs are 75% of the value

In the example above, your insurance company would likely determine your vehicle to be an Economic Total Loss. One thing to remember is that if you are paid the value of your vehicle, the insurance company will retain the salvage or damaged vehicle and then sell it to a vendor. Most insurance companies have negotiated contracts with salvage buyers and will use that avenue to recoup some of the money paid out for the total loss. In the example above, your insurance provider would know that your car had a salvage value of $3,000 (example). So, when making their total loss decision, they would factor in this amount and subtract it from the total amount paid of $15,550, bringing their net cost to $12,550.

One other brief point to make that is worth noting is that your insurance carrier will also factor in estimated supplemental damages were your car to be repaired. From my experience as an adjuster and claims manager, there are often supplemental or additional damages/repairs identified once a car begins the repair process. These damages are often discovered on "tear down" or after parts of the vehicle are removed and additional damages are more visible. In many cases it is almost certain that there will be additional damages based on the visible damages, however, an adjuster will only write for what they can see and note that additional damages are likely.

Obvious Total Loss
An Obvious Total Loss or OTL is in which the damages to a vehicle are so extensive in terms of repair and/or putting the structural integrity of the vehicle at risk with a repair, that the car is determined to be an OTL. Some examples of an OTL are:

    Fire Damage
    Rollover
    A theft
    Extensive Water Damage
    High impact front-end collision
    T-Bone or hard hit to the side of a vehicle at the center-point

In most cases, a claims adjuster will not have the direct authority to determine a vehicle to be an OTL. The two insurance companies I worked for required a manager approval to make this call. With today's technology, that can be done easily in the field by simply sending some detailed photos to a Claims Manager or Property Damage Manager. In this case, there isn't a cost of repairs necessarily but the valuation process is the same.

Hopefully this helps you understand what is meant when you are told that your car is a total loss. Your insurance claims adjuster should explain all of this to you, however, having a basis understanding will certainly help should you find yourself in this situation.

Marc Berry brings over 8 years of direct experience in the auto insurance field, having worked for 2 of the largest and most respected insurance companies in the nation.

Travel Insurance: Answers to Frequently Asked Questions

People want to be safe when they travel. But no matter how many precautions and preparations you make, there's always a chance that something unfortunate will happen. The best thing to do is to be prepared in the event that something does happen. Travel insurance can be very important to some people. It's a safety net for when you need it most; when you're in a strange place and you have a lot of money invested in your vacation. Following are answers to frequently asked questions on the subject.

What is travel insurance?

Travel insurance is exactly what it sounds like, it's an insurance policy designed to protect you while you are traveling abroad.

What do these insurance policies cover?

There are different types of travel insurance. You can select policies that match your needs. Some policies pertain specifically to medical expenses. The cover things such as doctor's consulations and emergency medical care. Other policies protect you in case of an accident with a rental care, flight cancelation or lost luggage.

It may be possible for you to get medical coverage for an already existing medical condition. However, the more financial-related policies will not cover foreseeable losses; for example, your flight was canceled because of a strike but the strike had already begun before you purchased your policy. Also, be aware that some plans will cover certain types of travel expenses but not cover others. Make sure you understand everything that is and is not covered.

Is it necessary?

It depends on the individual whether or not travel insurance is necessary. Those who travel with a lot of money or valuable cargo have more incentive to buy policies that cover these losses. If you travel light enough that any losses you encounter would be minimal, then this type of coverage may not be for you.

Those who travel often are more likely to run into trouble as opposed to those who only travel once a year; this is simply due to the rule of odds. Therefore, those who travel frequently should consider travel insurance more carefully than those who don't.

Medical expenses abroad are sometimes covered by your existing medical plan. Be sure to go over your current health insurance carefully. There's no point to buying travel insurance for medical needs if your existing policy already covers it. Read the fine print, though. Some policies will cover some things but not others, such as coverage for prescription drugs but not emergency medical transportation. If your plan doesn't cover medical expenses abroad, you may want to consider travel insurance plans that do cover it.

How do I get Travel Insurance?

Travel insurance has been made easy to purchase online. All you need is search for "travel insurance" and find company websites. You will need to supply some personal information, and the details of your trip.

How much does it cost?

The price will vary greatly based on which company you go through, how much you want covered, how luxurious your trip expenses will be and whether or not you are traveling overseas. It is important to shop around and compare before making any purchase.

Can my plan cover more than one person?

Yes, it is possible to get plans that cover a group of travelers all under one policy. This is great if you are traveling with family, especially children.

There are a wide variety of plans and policies available. Your current medical insurance and, possibly, insurance provided through your credit card purchases may cover you. It is important that you evaluate any coverage you might have and obtain the necessary travel insurance to guarantee that any unforeseen medical expenses are covered.

Five Reasons To Use An Insurance Broker When Looking For Insurance

When buying insurance, you can choose to buy direct from an insurance company, from a tied agent or a bank that represents one company or you can choose to purchase your insurance through an insurance broker. Most brokers can save you money on your insurance not to mention the time you would otherwise spend shopping around yourself but there are other reasons why using an insurance broker can be of major benefit to you.

Here are just some of the advantages of purchasing your insurance through an insurance broker:

    An insurance broker works for you - not the insurance company. Your insurance broker is not tied to a specific company or a specific company's products. They can search a number of companies and their products to find the best deal for you. A broker can take a thorough look at your personal needs and recommend the best and most suitable product for you based on your situation. Insurance brokers can get you the best deal available from their large portfolio of products and provider, while banks or insurance companies can only offer you the products from one company, and are therefore more limited in the number of products they can offer.

    Insurance Brokers are experienced and professional. Brokers deal with a wide range of products and services and are qualified to recommend the policies that best suit your needs from the wide range of companies that they deal with. They will know for example what companies are best suited for younger drivers for example or who is best for providing public liability for your industry. They typically have experience with claims and can guide you through the often confusing and stressful claims process, answering any questions that you may have. What's more most brokerages in Ireland are generally smaller and can often offer a faster and more personalized support. Brokers are also committed to continual professional development and lifelong learning, ensuring that they are informed on the latest changes and adjustments to insurance policies and legislation to give you the best options available when you purchase your next policy.

    Insurance Brokers are regulated: Brokers are required to meet certain standards and financial obligations. In addition to the requirement to hold professional indemnity insurance, they are required to carry out a process with each client to ensure that they are recommending the correct product to suit your needs. A 'fact find' should be used to discover your exact needs and requirements and on this information the broker should make their informed recommendations. A 'reasons why' letter or 'statement of suitability' should also be presented to the client outlining why the product and the provider is being recommended and how they meet the clients specific needs.

    You can get access to insurance companies that you cannot access on your own: In recent years there are more and more insurance companies popping up that only deal directly with brokers. In transacting business in this way they can save costs and do not have the same requirement for large call centres or large administration teams to deal with the public. They can then pass on these savings to you, the consumer. Many of these companies only deal directly through brokers so you will not be able to get a quote directly. Certainly over the past couple of years we have found ourselves recommending these companies more and more as they are able to consistently deliver on price, product and service.

    Insurance Brokers are required to give full disclosure on commission and fees and the effect on your insurance premium: Of course brokers need to be paid too and they get generally get paid a percentage commission from the insurance companies. In addition to this they may also charge a small fee for their services. As part of the regulation they must provide you with a copy of their terms of business which outlines the companies they deal with, how they are paid and details of any fees they may charge. This allows you to make an informed choice when buying insurance.

Choosing an insurance broker means that you have a professional on your side when choosing the best policy for yourself, your business and your family. Insurance brokers offer professional and unbiased advice, ethical conduct, and full disclosure of all the information you need to make an informed decision. They can talk you through each stage while giving you personalised advice and excellent customer service. So next time you are looking for insurance or renewing your current product why not contact your local broker first and see what a great service they can offer you.

Pol O Murchu is a leading Irish Financial Advisor, Insurance Broker and Mortgage Broker. His company Heritage Insurance Brokers provides clients with a range of Insurance and Financial Products to suit their every need. He specialises in Life Insurance, Mortgage Protection, Pensions, Investments, Mortgages, Health Insurance and a range of both personal and business insurance products. To get more information on any of our products contact us today.

Dental Insurance, What the Insurance Companies Didn't Tell You

What is dental insurance?


    Dental insurance covers the patient against dental costs. It is not uncommon to have a dental insurance or dental plan together with your health insurance. Some employer will offer some form of dental insurance over and above the company medical insurance.

    Unlike health insurance that covers diagnosing, treating and curing serious illnesses, dental insurance mostly covers preventive treatment. Dental treatment is highly predictable and very often non-catastrophic. Most dentists will advise patients to have at least one check-up every six months, that kind of preventive treatment is covered by most good dental insurances.

    Dental plans very often encourage patients to have regular dental check and promote good dental hygiene, it is in there best interest to offer such plans with the dental insurance.

Do i need dental insurance?


    As mentioned, unlike health insurance, dental insurance is very predictable and as such is not always a good candidate for insurance.

    For example, most dental insurance will offer $1000.00 cover per year, but the fact is that most patients never require more than $100.00 per year. Self funding might be a better option as it removes the dental insurance overheads.

    The employer option

    But if something goes wrong then you might need a comprehensive dental insurance cover or access to funds that you might not have.

    This is why some employers offer Direct Reimbursement (D.R.), the employer takes a percentage of salary into a dental insurance fund and this covers the employees.

    The insurance companies response

    To offer cheaper dental insurances than the one offered by employers, insurance companies responded with HMO's and Preferred Provider Plans (PPO's). Under those plans the insurance can offer cheaper premiums, but the treatments offered are often very limited. Another problem is that the dentists often increase the waiting lists and limit specialist treatments.

The common options


    Although the employer dental insurance is often the better option you need to look at that they actually offer you.

    Who will select the dentist?

        Open Panel, you choose the dentist without any restrictions.
        Close Panel, you are given a list of dentist to select, they in turn signed an agreement controlling their charges with the dental insurance company.
        Preferred Provider Organization (PPO), Group of dentist that offer to charge less, if you want someone else, you might need to pay the difference.
        Exclusive Provider Organization (EPO), Group of dentist that offer to charge a lot less, but then the client cannot go anywhere else, (unless they pay the full price).


    As you can see the more you go down the list the more restrictive the options are, typically an Self-Funded Insurers will offer an open panel whereas Dental Service Corporations and Insurance Carriers will offer EPO's.

    How is the dentist compensated?

        Payment plan, the patient pays a monthly fee to the insurer and in turn the insurer pays the dentists/specialist.
        Capitation Plans, the dentists charges the insurance company a certain amount per-capita, (per patient), and in turn offer to treat the patient.
        Direct Reimbursement Plans, the patient pays the full price and the dental insurance plan will reimburse all or some of the money.


    The second option is very limiting as some rogue dentists are inclined to offer substandard treatment to maximise their profit. The last option allows you to choose the best treatment plan.

    All above can limit the percent value that is actually been repayed and/or cap the yearly value that can be (re-)claimed.

    How are the benefits and payments calculated?

        A list is given of what is covered and for how much, any amounts over are not reimbursed by the dental insurance.
        The dental insurance offers a maximum amount that can be reimbursed per year, as long as the patient is within that figure the insurance will cover them. This is great for long term treatments, allowing the patient to choose the best value for money and overall treatment for their need.


    What ever cover is offered by the dental insurance you must make sure that it has a regular review to ensure that the benefits are fair and reasonable.

Questions About Selling an Insurance Agency

My firm works regularly with agency owners in the planning and execution of the sale of their business. Some key questions have been raised more frequently with the pending tax increases set for 2013, so I thought it would be helpful to address these to a broader audience in the dialogue that follows. The level of detail is significant but the intent is to provide a more complete discussion of such important questions. I hope you find this information useful in your business planning.

1) What are agencies currently selling for as a multiple of revenue?

While simplistic in nature, setting a value based on revenue is not realistic. The insurance distribution system contains a wide array of agencies and brokerages serving different market regions and segments. We have seen agencies sell for anywhere from 1.0 to 2.7 times annual commissions with an average guaranteed price range of 1.4 to 1.8. In our experience though, the value to a buyer is generally driven by pro forma earnings, risk and transaction terms, and all three are equally important. Multiples of revenue are generally the product of the expected price, and not the determining factor.

The pro forma earnings provide a buyer with a return on their investment and cash flow to cover any debt service. The risk assessment is a subjective measure of how well the buyer believes the investment will yield their desired return. And finally, the terms relate to how well the buyer can leverage their capital, such as when there is significant seller and/or third party financing, and also hedge any significant risks, such as with a portion of the purchase being paid on an earn-out contingent on maintaining revenue, earnings, accounts, etc.

The only way to ascertain a realistic market value of your agency is to have a professional valuation performed that is in-tune with your industry, the availability of financing and the market demand. Our firm averages 3-6 valuations per month in addition to completing a sale transaction every 1-2 months.

2) What steps can an owner take to enhance the value of their agency?

There are many steps that can be taken to enhance the value of your agency but they generally relate to maximizing the profitability and minimizing perceived risks to a buyer. Let's discuss maintaining or growing revenue first, as declining revenue generally erodes profitability. One suggestion that we often give to clients is to put in place methods to track sources of revenue. It could be tracking revenue created from different marketing or sales programs so you understand how effective your marketing dollars are being spent. Another is tracking new and renewal revenue by producers and product lines so you understand who/what is and isn't working for the agency, and perhaps what might be done to improve performance. The last thing to review under the category of revenue is your commission rates and contingent earning contracts with carriers. If the agency maintains low loss ratios, and high production and retention, there might be an opportunity to renegotiate your compensation with the carrier. It never hurts to ask and use a little leverage such as the hint that another carrier might be wooing your business with a better pay schedule.

On the expense side, personnel costs generally are the largest item and typically run an agency anywhere from 35-60% of revenue; therefore, it is important to keep a close eye on personnel and productivity waste. The most productive agencies leverage technology to improve workflow and minimize labor costs. They also develop performance-based compensation plans and weed out unproductive employees in a timely manner. The most profitable agencies maintain personnel costs at 30-40% of revenue. Buyers will typically discount the value of an agency if they need to come in and completely restructure the operation, staff and compensation.

Another major issue with personnel is addressing any ownership or vesting interest of employees or producers. If you don't own a book of business, then you can't sell it to an outside party. This can become a major problem if ownership with a producer needs to be settled during the sale process. The best solution is to either buy-out the interest before the sale process is initiated, or negotiate an equity swop in advance so that the producer will be paid on the sale.

There are many other minor expense items that can be shored up prior to executing a sale process. Such things might include renegotiating leases or contracts, canceling ineffective advertising and reducing any owner's discretionary spending such as personal meals, travel and entertainment.

On the risk side of the coin, you should address any specific revenue concentration issues with producers, carriers, product lines or accounts. Can business and account relationships be transferred from producers to staff members? Do you have good procedures in place for cross-selling and following up with clients before renewals? Are you over-exposed in any particular area that might be cause for a concern? Most likely any internal problems are known to the owner. The goal should be to round out the business and reduce your own risks, as well as that which might be perceived as one by a buyer.

3) How does an agency owner go about getting the best price and terms on a sale?

In short, by planning for the sale and executing a controlled sale process where multiple, qualified buyers are disclosed on the opportunity, provided with relevant details on which they can make a decision and encouraged to make offers in a short period of time. One thing to note is that when you lock into a negotiation with only one party, you end up negotiating against yourself. This is why it is best to provide accurate, relevant details in advance of receiving an offer so you can avoid an opportunity for the other party to renegotiate.

When representing a client in the sale of their agency, we conduct a pre-due diligence to flush out any issues and make sure the documentation is ready in advance. We also create a very detailed confidential summary of the agency that educates potential buyers about the operation and opportunity. Both of these steps add a great deal of value by speeding up the overall sale process and providing buyers with the information they need to feel comfortable in consummating a deal.

4) How do you find a buyer while protecting confidentiality?

There are two ways to solicit buyers: the reactive method and the proactive method. The reactive method involves placing discrete ads about the opportunity and waiting for prospects to inquire. The proactive method involves discretely marketing directly to potential prospects and asking them if they are interested. Obviously the former is much more effective than the latter and its best handled by a third party. When it comes time to solicit buyers, our firm has a database of over 1,200 pre-screened individuals and companies that have contacted us looking to acquire insurance agencies that we can contact directly.

Protecting confidentiality should be a top priority during the sale process as a great deal of damage can be incurred should your employees, customers or carrier reps learn that you are trying to sell. There are many would-be-buyers for insurance agencies, but only a small percentage are serious candidates for any given agency. Any prospective buyer should be required to sign a legally binding confidentiality/non-disclosure agreement and required to submit a statement of their financial worth, including cash available for a transaction, before receiving information on the agency. From an owner's perspective, it is very difficult to manage the buyer solicitation and screening stage while also running a business.

5) How long does it take to complete the sale of an agency?

The truth is that it can be as short as a few months to never depending on a number of factors including the agency, the asking price and terms, how buyers are solicited, how well the agency is prepared for sale and how well the process is managed. The buyer also makes a big difference. Some are inexperienced and unknowingly make promises that they can't keep in regards to how much they can borrow from a third party, while others intentionally lock the seller into a non-binding purchase agreement with the intention of renegotiating after due diligence is completed.

In our experience, after a purchase agreement has been signed by the parties, the sale process typical takes two to three months depending on the sophistication of the transaction and financing involved. The due diligence phase alone can take two weeks to two months, depending on the complexity of your business. In many cases, the owner will also need to stay on with the buyer for a transition period which can range from a few weeks to a few years. Our average time from executing an engagement with a client to closing on the sale is five months, and our success rate is very high because of our pre-due diligence on the agency and potential buyer.

For most agency owners, the agency business is their most valuable asset. Having not sold an agency previously, many owners are unaware of the value of their agency, how to initiate a sale process, the amount of time, energy and emotion that goes into it, and the potential issues that can arise. To yield the best return on your investment, it is critically important to the perform this process properly and choose the right advisors because you only get one chance to get the sale right.

Our firm has helped dozens of clients reach their goal of exiting their agency. Should you have any questions regarding this subject matter, please don't hesitate to contact me. Thank you for your time and best wishes for a prosperous new year.

Top Triggers For False Claims Act Liability

The medical profession can be a shifty game if you are unaware of its pitfalls. While most medical professionals really just want to help patients feel better about themselves and bring them to an absolute state of wellness, there are others, who are in it simply to make money, and they're not afraid of robbing from patients and insurance companies to do it. The abuses in the system are considerable, and that's why many in Washington would agree - whether Democrat, Republican, or Independent - that something should be done to fix the system. While they don't agree on what that something is, one of the safeguards currently in existence is the False Claims Act. Here are three of the most common triggers for liability under this piece of legislation:

Billing for services not rendered

Many times unscrupulous doctors will actually bill the insurance company for services that didn't actually take place. They depend on patient ignorance and the advantage of the insurance companies not being there in the room at the time of treatment in order to get away with this one. That's why it is important that you as a patient look over your bills or have someone you trust go with you and then examine the itemization. If not, your insurance company could be getting hit hard, and they will pass that on to you in the form of increased premiums.

Misrepresentation of the goods and services rendered

Sometimes the bad guys won't flat out lie about what they did, but they will misrepresent what the goods and services rendered were used for, and again, it results in an overcharge. You don't want to cause a rift between yourself and your doctor, especially if you trust the care that he provides, but if you start to suspect that his office is trying to "pull one over on you," then you need to do something about it. Contact your insurance representative at once and voice your concerns.

Misrepresentation of the nature of the patient's illness

Sometimes a doctor may present a patient's illness as less (or more) serious than it really is. This can trigger liability under the False Claims Act as well because many times an insurance company will not cover something that is unnecessary for restoring the health of the patient. If a doctor seriously thinks testing or sending to an outside specialist is necessary, then there is no issue, but they have to be able to back that up by showing a past treatment pattern that indicates an escalation.

When dealing with the health care world, you as a patient must stay on your toes, and do your very best to protect yourself from overcharging and fraudulent practice.

Need someone with substantial experience litigating medicaid fraud on behalf of medical employees? Someone who has studied and examined every aspect of the medicare fraud can surely help you out.

Term Insurance - the best investment for your family

You've always tried to give your family nothing but the best. Compromise is not an option. You would go out of your way to bring a smile on your near and dear one's faces. But life is all about uncertainties. What would happen if something unfortunate were to happen to you? Ever given it a thought? Who would take care of the liabilities left behind that are still waiting to be paid off? Your utmost priority is to secure the well being of your loved ones who have always depended upon you. Thought the emotional void cannot be fulfilled, you can plan and make sure that financially their life is secured.

This is where the role of term insurance comes in. A term insurance pay out can help ease worries on the financial front. Term insurance provides protection for a specific period of time. It pays a benefit only if due to some unfortunate incident, the policy holder passes away. Level term products are the most popular plans purchased today. You can choose a level term from 5 years to 30 years. Also, the premiums can be either guaranteed or not guaranteed.

When you buy a term insurance, make sure you are aware of the guaranteed* premium period. Once, all the formalities have been done and you pay the first payment, the insurance company is obligated to keep the policy in force as long as you keep paying the premiums. It's up to you to pay every month or not. But once you stop paying, the policy will lapse after usually a 30 day grace period. Some term insurance policies can be renewed when you reach the end of a specific period which can be from one to 30 years.

These days, to make it easier for you to calculate your premiums and compare different plans for this category, you can use insurance calculators and even subscribe to term insurance online. But before you subscribe to these insurance plans online, take a look at various other term insurance plans available. There are a lot of hidden costs which one tends to ignore. So make sure that you are aware of all the terms and conditions so that there is no surprise in store for you later on. Since buying a these kind of insurance plans costs much less than any life insurance policy, it's time you ensure a life of self respect and pride for your family.

Liability Insurance: Searching Made Easy

Many business establishments are in search for cheap public liability insurance. Others are used to checking through different insurance company websites to check for low cost insurances. Some would even spend time calling and talking to various insurance customer service representatives and in the end are thought to check further on the web for instant information. This can waste a lot of time especially for a busy business owner or manager. Some would simply ask around and compare cost but each business has unique demands and different budgets established for insurance purposes.

However, the best way to search for cheap public liability insurance is to look for insurance quote engines. Insurance quote engines will require some information for the system to know your needs. After the details are provided, it will pull up various plans from different carriers for you to choose from. The premium information and the various services provided will help you compare different public insurance liability offers. The system can generate the information in just a matter of seconds. In a few clicks, you have all the information you need to pick from a wide range of public liability insurance offers that are within your budget and meets the demands of your business.

However, once you have your eyes on a few insurance offers, short list your options. And based on your company's demands, you need to check on the limitations in each and every public liability insurance offer. See how each insurance carrier can provide competitive insurance offer with the competitive services they provide. Most insurance companies offer very low prices for their service because their offers overflow with limitations instead of services. With very little to get out of the insurance, there might be no advantage at having a cheap public liability insurance after all. However, if you limit your option to reputable insurance carriers, you might have a better chance at receiving the best level of service for a low price. The insurance that covers many liabilities to the public, their lives and properties is the best choice especially if it is for a low cost.

Finally, double check on the premiums offered. While some premiums might showcase low amounts the services you needed might require an additional fee. The premium price can just be bait so it is best to be extra cautious in settling for cheap public liability insurance. If all the other insurances offer the same premium and the same additional services for a fee then choose the one that offers the service that suit your business for a low additional cost. At the end of the day, it is supposed to be a financial solution that takes care of untoward incidents in the business premises. And if the wrong one is chosen, there could be more unnecessary hassles experienced. Prevention is the best cure and in choosing the best public liability insurance do not rush. Take time to check the credibility of the insurer. In addition, take a close look at the premium price if it already includes the service that meets all of your needs.

Workers Compensation - The Insurance Side

Workers compensation is an insurance that your employer provides as a benefit to you as their employee. In the event that you need to file a claim, there are many things you need to know about what's happening on the insurance side of it. Here's a basic rundown of what's happening and what you can expect.

If you've decided to not seek the help of an attorney right away, the first person you'll be dealing with is an insurance adjuster. An insurance adjuster is a person that takes charge of the claim and all aspects of it- including your recovery. They follow your case closely and will keep in close contact with you throughout the process. Unfortunately, due to the fact that these people are employed by the insurance company, they have no need to keep you informed on your rights and what's best for you. It's going to be your job to know your rights and sometimes enforce them when necessary. This said, the adjuster is the person that decides whether or not you are entitled the benefits of an approved claim. Working with an adjuster is a team effort between you and them- and while it's their job to make sure they treat you with respect, it's your job to do the same for them.

It is important to stress that an adjuster has to motivation to make decisions based on your best interests. This needs to be handled by you. While they won't treat you poorly, they'll do their jobs. It's up to you to make sure you're getting the best end of the deal. If you feel like this may not be something you could handle, hiring legal help may be of great benefit for you. A lawyer or attorney will make decisions on your behalf that are best for you- and since they know the legal system and what your rights are, you'll be able to take full advantage of your rights through them. Of course, if you're comfortable handling this on your own, legal help may not be what you need.

When you file a workers compensation claim, you'll first hear from an insurance adjuster by letter. The letter will let you know what the immediate status of your claim is- whether or not it's been initially denied, accepted, or under further review. Adjusters typically do their best to contact the claimant right away to obtain facts from the incident and other pertinent information that they feel are associated with your claim. The most important thing to do when an insurance adjuster is taking a statement is to tell the absolute truth. This avoids conflicting statements and prevents the insurance company from considering denying your claim based on potentially erroneous facts. Due to the high amount of fraud committed with workers compensation insurance claims, insurance agencies are very diligent about making sure your claim is substantiated and that you are telling the truth.

How To Find The Best House Insurance Quotes

This article aims to provide tips on finding the best house insurance quotes. People's homes are one of the biggest investments people make, financially and economically. Not only does it serve as a place for them to stay in at night, it also keeps them protected from the dangers outside, ensuring that they and their family are safe from harm. As such, it's important to get coverage for your property, which is why you need to be very discerning when it comes to making house insurance quotes. This article discusses everything you need to know about homeowners insurance policy, from its different types to tips on how to choose the best one.

Kinds of Home Insurance Coverage

As you may hear when you get insurance quotes, there are broadly three kinds of home insurance to choose from:

Actual cash value. This type of insurance policy provides policy owners with the cash value of their home when they make claims. Do note that it's possible that some money will be deducted due to depreciation.

Replacement cost. This type of insurance policy will pay for the costs involved in repairing or rebuilding your house. This doesn't make deductions for depreciation.

Guaranteed or extended replacement cost. This provides the highest level of protection, paying for the value of the property, including those inside the home, prior to it being damaged or destroyed.

What Affects House Insurance Quotes?

It's not just the different rates that make home insurance quotes different. There are several factors that can affect how much you will be asked to pay to get coverage for your home. Some of these include:

The type of home you have. Condo insurance premiums will be different from the premiums of a house-and-lot property.

The age of home. The age of your home can also affect how much you will be charged on your premiums. The older the property, the higher your premiums you will have, since these have more risks than newer houses.

Materials used. The poorer the quality of the materials, the more expensive your premiums will be.

The amount of security your home has. The more security features are installed in your home, the better the price you will be given in your house insurance estimates. For example, a home that has a burglar alarm, a smoke detector, and a fire sensor will be charged for coverage more cheaply than a home that has none of these.
Location.

Location can also affect your house insurance quotation. It's not only the safety of the neighborhood your property is in that plays a role in how much your premiums will be; the closer your home is to fire and police stations, the cheaper the house insurance quotes that will be given to you. Furthermore, your premiums are higher if you live in an area that's prone to flooding, earthquakes, and other disasters. You can also get specific apartment insurance if you live in an apartment or condo.

Factors to Consider in Getting House Insurance Quotes

When it comes to home insurance, don't just consider the home insurance quotes if you want to be fully protected from any dangers or damages. To get the best coverage possible, please consider the following factors:

The amount of coverage you want.

First of all, you need to weigh in which is more important to you: the amount of coverage, or cheap house insurance. The cheaper the premiums, the less coverage you have; conversely, the higher your house insurance quotation, the more your properties will be protected. If you have the budget, do get for the comprehensive coverage. You may end up spending more money, but you will have the protection you need in case anything unexpected happens. However, if you don't have that much money, try to balance between good house insurance quotes and good coverage to get the best possible deal. At the very least, get the essentials, both from manmade and natural disasters.

The value of your property.

Make sure that you get your property appraised to get house insurance estimates that corresponds to the value of your home.

The contents of your property.

If your budget can afford it, do get the properties inside your home covered as well. Your house insurance quotes may be higher, but at least you can have peace of mind knowing that all of your properties are covered by your insurance.

How to Get House Insurance Quotes Quickly and Easily

The quickest and easiest way for you to get house insurance quotes is by going online and comparing the offers of the different insurance companies. These websites are pretty easy to use: all you will need to do is to enter your ZIP to go to a page with home insurance quotes that fits your needs.

When it comes to home insurance, be sure that you don't jump into anything without evaluating what your options are. Compare the house insurance quotes of the different insurance companies so you can see which one provides the best deal and the coverage that you will need.

Average Monthly Cost for Renters Insurance

Renters insurance is very important to have if you are renting a place. This will protect all your personal belongings and at the same time, this will also give you peace of mind that if something happen inside your place, your liability coverage will take care of you.

The average monthly cost for renters insurance is actually based on the coverage that you want for your personal properties, liability coverage and the type of deductible that you want. The higher deductible the lower monthly payments. The lower deductible the premium will be a lot more.

Having a renters insurance will give you peace of mind that, no matter what happen you will be covered fp any type of losses. If for any reason that someone broke into your home, whatever personal property that is missing will be replace by your insurance carrier. You just have to pay for the required deductible. In any case of fire, all your personal belongings that you lost will be replace through renters insurance.

The average monthly cost for renters insurance is between $20 to 40 dollars a month. But it still based on the actual coverage that the insured wants to have.

A lot of insured are adding more coverage on their policy to cover most of their personal belongings. Like a laptop, expensive cameras, and more expensive stuffs. This will protect yourself and all your personal properties in any unexpected situations.

The great thing about having a renters insurance coverage, if your place is damage with a smoke from a fire next door, your insurance carrier will put you to another place where you can stay until the smoke damaged is totally clears in your place. The insurance carrier will even pay for your food and other personal expenses while your place is still have a smoke damage. It will be for your best interest to take advantage of the many benefits of having a coverage from renters insurance. That will give you the benefits if not having to worry about anything. In spite of paying something on a monthly basis, that will give you the chance of enjoying your life without worrying.

If you don't have any insurance protection, and someone took all your personal belongings, it will be hard for you to recover all your investments. Even though you have a police report, chances are very slim for you to recover all those stuffs that are missing. If you have renters insurance, you don't have to worry about anything. All you have to do is to file claim. The insurance adjuster will do all their investigation and will try to settle the claim as early ad possible. This will give the insured the opportunity to take care of the insurers settlement funds so they can move on with their lives. Others will just have to wait if their claim will get settled by their assigned adjusters.

Make sure to deal with right insurance agent before paying a specific premium. Once you have the finds ready and available, you can either pay on a monthly basis, semi-annual or the whole thing in full. In this case, you will avoid missing any payment and lose coverage.

Understanding Lifestyle Protection Insurance

2012 is shaping to be a difficult year for both the public and private sectors in the UK. When the economic climate is this bleak everybody suffers, and no one can look at their job and say with certainty it is 100% safe.

The best we can do is take measures to protect the things that are important to us, in case the worst should happen. Lifestyle protection insurance offers a safety net that enables families to keep their heads above water if they are unable to work for any serious length of time.

Lifestyle protection insurance was created as a replacement for payment protection insurance, which became the target of negative publicity in 2011 when it emerged that banks had been mis-selling this product to people who didn't need it. While it was no reflection on the product itself, a lot of banks decided they didn't want to sell it anymore, and major insurance providers decided to introduce a new, cleaned up product called short term income protection, or lifestyle protection insurance.

Most LPI policies are designed to make payments for up to a year if the claimant is prevented from working by accident, sickness or unemployment. The policyholder will select the benefits they want to receive based on their individual needs, with the average monthly benefit being around £1000. For this level of cover, you would expect the premium to be something in the region of £20-£40 per month. Premiums vary depending on the age of the policyholder and the level of excess they set.

Finding the best provider can be done in a number of ways, but most people usually go straight to the price comparison sites. The benefit of these sites is that they give you a broad range of prices and options to choose from. The down side is that all the providers listed there have to pay commission to the comparison site, and so their prices are likely to be higher than what you would get by going to the providers directly.

An alternative to the big price comparison websites is the Money Advice Service, a government-funded initiative run by the FSA. The MAS service has a major advantage in that it is compulsory for insurance providers to show their full range of products and prices on there. This gives you a much more comprehensive picture than the commercial comparison engines are capable of, with all the low cost providers listed right alongside the big name brands.

Once you have found a provider and a policy that meets your requirements, you will need to be assessed in order to establish your suitability for this kind of insurance. Remember, the primary concern for any insurance provider is profit, and thus they will only agree to cover those with whom they think they have a good chance of a positive outcome. This is an important point, because if you wait until your company is making redundancies and your own job is in danger before pursuing insurance, you will have left it too late and no one will cover you.

Protecting your income with LPI is a sensible and potentially vital way to look after your family's finances in these uncertain times. The three key pieces of advice for getting the best possible policy are firstly to ensure you get your head around all the different product names, secondly to use the FSA's money advice service rather than commercial sites to do comparisons, and finally to make sure you don't leave it too late to get covered!

What Are The Main Benefits Of Getting Landlords Insurance?

Many people today for various reasons have decided to lease their property. Renting out property carries risks that must be considered. Therefore, many people that lease out property carry landlords insurance as protection. There will be circumstances that would normally not be a consideration for owners occupying their own property.

Generally, the tenants will not be well known to the owner. There really is not an accurate way to gauge whether the individuals are likely to be destructive. Subsequently, damage to the property can occur, and traditional homeowners insurance would not cover any loss. Having the right insurance policy can cover loss of income if the tenants fail to pay, as well.

Additionally the renters may have visitors over and someone gets hurt, having insurance will cover such events. However, the insurance will not cover any loss of the renter's property. There may be natural disasters that prevent the renters from inhabiting the property. There are policies available that can cover the loss of income while the structure is being rebuilt.

Property owners may also need to hire contractors to perform work on the property. Injuries to the workers would be covered under the policy. It is important to consider the property as a business. Consequently, standard content insurance or fire protection will not cover many events when the property is classified as a business. Individuals that work for the property owners would be considered an employee.

It is important for owners to understand their policy. There is actual cash value and replacement value insurance. Actual cash value only pays what the item is worth at the time it was stolen or destroyed. For example, a television set that is 10 years old has far less value than a new one. However, replacement value means regardless of its age, the item is valued at what it cost to replace at today's prices.

Property owners may provide washers and dryers, furniture and even ceiling fans for their renters. The appliances and fixtures may be stolen or damaged, as the renters abandon the property. Having the right coverage will ensure the owner is fully compensated for their loss.

Lawsuits are prevalent in today's society thus, property owners must do what they can to protect themselves. For example, a renter decides to rewire some electrical plugs. Through no, fault of the owner the renter sustains injuries. The tenant however, may feel it is the owners fault and brings a lawsuit against the property owner. Being well covered against liability at this point can prevent a financial disaster from occurring. Having landlord's insurance is one of the more critical necessities of leasing property.

Pipes can burst at anytime; the furnace may fail in the middle of the night. Owners can become overwhelmed financially without insurance. The renters may have paid on time and never posed any trouble. The owner may not have ever had a reason to enter the premises until after the renters had left. Owners may have assumed everything is ok. However, the property may very well be in shambles. This is where landlords insurance reveals its true value.

Purchasing Homeowner's Insurance for New Home Buyers

When I purchased my first home, there were a lot of things I was confused about. There was so much paperwork to fill out, documents to provide, and things to do that I was a little overwhelmed at times. Thankfully, I had a good realtor, loan officer, and insurance agent who did most of the heavy lifting for me. But for those of you who are thinking about buying your first home, let me clarify at least one part of the process - purchasing homeowner's insurance. Below are answers to some of the questions I had when I was obtaining homeowner's insurance for my first home.

Do I need homeowner's insurance?
If you purchase a home on credit, the bank will require you to have homeowner's insurance. Even if you purchase a home with cash, it's a good idea to protect your investment.

Who should I use?
There are many companies that provide homeowner's insurance. Many first time homebuyers get their homeowner's insurance from their auto insurer. This can provide multi-policy discounts and is occasionally the way to go. I would recommend using this opportunity to shop around to make sure you are getting the best price for similar coverages. With homeowner's insurance it's important to shop around because the price difference between companies is dramatic at times. There are many occasions when the savings of going with a different company are more than the savings of a multi-policy discount. Many loan officers know insurance agencies that provide excellent service and have superior pricing. Get a quote from your auto insurer, the company your loan officer recommends, and maybe one from your friend's company. Most policies are very similar in what they cover so make sure you are getting the most for your dollar.

How do I obtain it?
If you are purchasing the home on credit you will be required to show proof of insurance at the close of escrow. Obtaining proof of insurance, also known as a binder, can be done weeks in advance. There are loan officers that will do all the quoting and binding for you or you can handle it yourself. When it comes to binding the policy, it's usually easiest to let your loan officer work with the insurance agency. Information needed to bind the policy, such as your name as it will appear on the deed, estimated closing date, mortgagee clause, and escrow account information, is more readily available to the loan officer. You usually do not have to sign anything for a homeowner's insurance policy and you can have it paid through escrow.

What does it cover?
You'll want to read your individual policy to understand exactly what your policy covers. Generally speaking a basic H03 policy would cover things like fire, wind, theft, and personal liability - among other things. It usually does not cover things like equipment breakdown (some companies have this as an optional coverage) and general wear and tear of the home. It also does not cover flood or earthquake as those coverages need to be purchased as separate policies. Obviously, this is not a comprehensive list of all things covered and not covered by a homeowner's insurance policy, but just a few examples of things covered and not covered.

Purchasing your first home can be overwhelming at times. With so many things to do and so little time, it's difficult to be informed every step of the process. While purchasing that first home can be stressful, hopefully these couple of tips on homeowner's insurance will ease your burden at least a little.

How Do You Make A Water Damage Or Flood Clean Up Claim To Your Insurance Company?

As a water damage restoration clean up professional for over 22 years, getting use to how a claim is made by a homeowner when they have water damage is easy. But most homeowners have no idea how or who to call when they have a water damage or flood damage issue.

When a call comes in for a water damage or flood damage most homeowners will ask the obvious question "how much do you charge for your services"

Any contractor that gives any answer is fooling the customer do to the fact that every water damage or flood situation is different.

The first question that will usually come out of the mouths of experienced and qualified water damage restoration companies (notice I didn't say carpet cleaners who also do water damage clean up) do you have insurance. Most homeowners will say yes, but I am not sure if the company will cover the damage.

Here are some steps and tips on how to proceed in finding out first if the insurance company will pay for your damage.

Look for your insurance papers (documents) that you received from your insurance agent and look for the phone number that contacts the claims office of your insurance company. Sometimes even the agents themselves have trouble digging through the paper work to find the claims phone number. The best suggestion is to look on the internet for your insurance companies claim number. It's usually easy to find on the first page of the site.

Before calling understand the insurance language. The insurance company person on the phone that you will discuss your possible water damage claim is called an adjuster. Your damage is referred to as a claim,peril or a loss. I know loss sounds strange but that's the language that is used. There maybe someone who will come to your house from the insurance company and that person is also called an adjuster. The documents or paper work that was given to you originally by your agent is called a policy. The policy is your contract and in most cases clearly spells out what is covered and what is not. That leads us to the word covered that I just mentioned. The word covered is used when the insurance company accepts responsibility to pay the costs of the damage of the items that were damages by the water damage and the clean up costs and repair costs of home items like drywall, carpet.

When talking to the adjuster on the phone don't talk to much. Just keep it simple with just the facts. As honest as you are, insurance company adjusters are not out to deny every claim as everyone thinks. There are state and federal laws that the insurance companies must follow, so the insurance companies work on proof.To keep it easy get proof of why the water damage happened like a bill or written statement from a plumber or the city or county of why something happened. Pictures are great and your dishwasher or washer machine appliance repairman will be your best friend to prove to the insurance company your damage is a "covered loss."

These days insurance companies will suggest a water damage restoration company to come out and mitigate the damage. Mitigate is the term that is used to clean up and stop further damage from happening. Most insureds (that's you the homeowner) believe that the water damage clean up work will be guaranteed because the company mentioned their name. Actually the company only suggests and will not back up any companies work. Remember that you the homeowner has the legal right to use anyone you want to.

Contacting the insurance company to make a claim can be nerve racking to some homeowners. Just remember to be calm and relay the facts.

What Is the Difference Between a Flood Damage and a Water Damage?

Flooding refers to a large deposit of water around a home or building, or when the ground can't support the excess amount of water. At this point, the water will enter into a home or building and create damage. This is referred to as flood damage.

On the other hand, water damage is usually caused by internal issues in a home or building, including, but not limited to toilet over-flows, burst pipes, water heater leaks, broken sprinkler heads, etc.

The difference between flood and water damage to home and business owners', is who is responsible - financially and legally.

Financially, your damage will potentially fall under your insurance company or the Federal Emergency Management Association (FEMA).

FEMA covers homes and buildings in states that are in a "flood zone," or if the flood is in an area that is under a State of Emergency. However, you should always contact FEMA directly and never assume a damage will be covered; as with all government programs, the rules can change based on particular circumstances and policies differ from state to state.

Insurance companies have a policy, which is basically a contract, with the home or business owner stating what will and will not be covered. Generally, insurance companies cover water damages, where the home or business owner could not prevent the hazard.

Unfortunately, many policyholders are shocked when they learn that their claim has been denied when they sustain flood damage. They discover that the insurance company deemed the damage was the result of a "maintenance issue" (what the homeowner could control). Most home and business owners do not even know that there are maintenance issues required of them under their policy. According to the insurance industry, home and building owners are supposed to inspect basements and windows to determine potential leak and flood liabilities!

The most important thing you can do is to carefully review your insurance policy so that you are not caught by surprise for any type of damage that may occur! As well, if you discover any type of water in your home or business, contact a restoration company immediately! The quicker the water is removed, the less damage and expense you will incur.

As you have read, flood damage and water damage are actually two different situations. They make look the same or seem the same, but depending on who is paying are actually worlds apart in definition. If you have water issues in your home or business make sure you understand the situation before you begin.

Long Term Care Insurance Policy

Most young people ignore the fact that they will grow old one day. It is the wise ones who not only think about it but also provide for their future. Statistics show us that almost one out of two Americans require long term care when they grow old. Due to immobility and illness people become dependant on families and institutions to carry out normal daily activities such as dressing and bathing.

Long-term care refers to a system where this can be taken care of in your own home, a hospital, a home center or an assisted living facility. It could be a reality to many who have led a strong and active life earlier. This is why its importance is growing each day. Most Medicare programs and State Medicaid programs do not provide the necessary facilities for payment. Some only cater to those who fall below the poverty line. Therefore, it is prudent to consider applying for a Long Term Care Insurance policy early in life.

If you have worked all your life and have made a substantial saving, then perhaps you can fund your own long-term care. Unfortunately, not everyone is so lucky and therefore long-term care insurance is very vital to secure a safe future especially for those who have a history of health problem in the family.

Like for any other policy, it is best that you know all the details prior to buying one. Often times, people forget that premiums for life insurance policies increase over time. This makes it difficult to pay especially when there is no enhancement of the financial situation. Thus, policies are cancelled when they are needed most because policyholders cannot continue to pay high premiums. It is easy to get drawn into buying a policy because market savvy sales executives make it sound so easy. But, it is up to the individual and insurance advisors to properly instruct prospective customers.

One sure way of protecting yourself is to be sure of all the terms and conditions given in the long term care insurance policy document. If the insurance sector is not your cup of tea; you could hire an agent or a broker who will act on your behalf. They will be experts on quotes, claims, processes and other issues. You need to also be careful on selecting the right broker at the right cost. Long-term care insurance not only provides security for you, but for the entire family. So you can take their advice before buying a policy. Remember, to choose an insurance company that is reputable and trustworthy. You can take it for granted that sales people will only state the benefits of a policy. They will not tell you the flip side of the story. Do not rely on brochures and other sales oriented literature to make your decision.

To summarize, a long-term care insurance policy can be used for different types of long term care such as skilled nursing, intermediate nursing and custodial care. The kind of care you choose largely depends on your physical health and situation. This kind of insurance is definitely worthwhile and affordable when you think of life beyond 65 years of age.

Origin Of Long Term Care Insurance

In the early 1980's Medicare started using a system called the diagnosed related group of guidelines for advance payments to hospitals. This has really given hospitals authority and incentive to discharge patients very soon after admission to the hospital.

The hospital gets paid the same whether the patient is in 3 days or 6 days. So the hospital can make more money if they free up the bed space for the next patient. The problem this has caused is that nursing homes have become the recovery place for these patients that were not ready to go back to their homes. The problem with this is that Medicare only pays up to 21 days of skilled nursing care. Therefore, if a patient is not recovered after the 21 days in the nursing home, then the funds come out of the patients estate, provided they have one. Needless to say, it does not take long to eat up one's estate at the nursing home rates.

Insurance companies have just in the last decade recognized this problem and now are offering Long Term Care Insurance. The long term insurance rates vary by geological location, as well as state and local regulations. The premiums are costly, however, a person has to weigh out the advantages and disadvantages to purchasing long term care insurance.

Many people assume that their healthcare provider will cover long term care. Unfortunately Health care insurance covers medical bills, hospital bills and some prescriptions. They do not cover nursing home expenses. The same rule applies for Medicare. Medicare will pay for skilled nursing home care only for patients that are able to fully recover from their injuries or illnesses. Then the myth is that a person can always fall back on Medicaid, but Medicaid is for the people who fall under the low income guidelines and have little or no assets.

If a person can afford long term care insurance, it is highly recommended that they purchase it when they are young, as the rates are substantially lower.

Types of Long Term Care Insurance

Regardless of what some people might think, medical insurance will not cover the expenses and services that long term care insurance covers.

There are three types of long term care insurance. The first plan is the skilled nursing care. It has to be ordered by a physician and the patient must be able to fully recover form his or her illness or injuries. It involves a treatment plan, skilled therapy with a licensed therapist and nursing care.

Intermediate nursing care is another type of long term care insurance. Likes skilled nursing care it must be ordered by a physician and the patient must be able to recover from their illness or injury. Unlike skilled nursing care, Intermediate nursing care is not provided on a daily basis. It depends on what treatment and therapy plan tht the doctor has ordered. It is basically a prescribed as needed to get well plan.

The custodial nursing care plan is the full coverage plan of long term care insurance. Custodial care includes daily nursing care and nursing assistance walking, eating, bathing and other hygiene matters, and also includes colostomy and catheter use, as well. Custodial care can be an in home care plan, an assisted living care plan or a nursing home plan.
It can range from a few hours per week to 24 hours per day. The intention is that the patient will not be able to recover from their injuries or illnesses.

Studies how that 40% of the people who receive any type of long term care services are under the age of 65. Studies also show that there is a 50% chance that a person will need some type of long term care service after the age 65.

Long term care insurance is right for many people, but if you are in the position that you can pay for your care with assets then long term care insurance might not be the best idea.

Long Term Care Insurance

Long Term Care Insurance is needed in the event that a person becomes physically disabled, terminally or chronically ill. Healthcare will pay for doctor bills, hospital bills and some prescriptions, but healthcare will not pay for nursing home care or in-home nursing care. That is where long term care insurance is a necessity.

Long term care insurance is a very costly investment, but in the long run may save you and your family money and assets. The price of long term care insurance varies depending on geographical location due to local and state regulations that each state imposes. The average daily cost of nursing home care I the United States is $285.00 per day. That is a phenomenal amount to have to come up with on your own. Long term care insurance will pay for nursing home care and part-time in home nursing care.

To purchase long term care insurance, there are a few different ways to go about it.

A person can choose to purchase it on his or her own. That ensures protection over their assets and savings. Finding an insurance agent that specializes in long term care insurance would be very beneficial when buying it on your own.

Medicare is a federal government program that will pay for skilled nursing home care for a short term. The theory there is that you will eventually recover from your illness, so Medicare will pay for that plan.

Medicaid is another federal government program. It pays for medical coverage for people who meet the low income guidelines. Medicaid will pay for one half of the nursing home care, however, a person has to qualify for Medicaid and have very limited assets.

Bankers Long Term Care Insurance

How many times have you seen people whose life was turned upside down by an accident?

When an accident occurs, you must be prepared to face it. Nobody knows when bad things can happen, so it's good to count on a health care insurance policy.

However, a lot of people doesn't really consider all aspects of getting health care coverage; that is why a surprisingly big percentage of policyholders have chosen plain health care, not having in mind all of the advantages of long term care insurance.

Bankers long term care insurance policies are meant for everyone who cares not only for hospital coverage, but also keeps in mind all home care related issues.Imagine not being able to perform simple daily tasks, like getting dressed everyday, or even having a bath by yourself. Who will help you? Of course, your family and friends will take care of you. But in the event of a permanent disability; are you ready to change their lives that way?

We all are aware of the consequences of having a disability. Why not rely on a professional to take care of you? Sad but true: nobody wants to be a load on a beloved family member or a dear friend's back. They would do the best for you, no doubt about it, but it's just not fair for them.

Bankers provides long term care for you and your family,with plans designed for every household. If you really care on taking care of them, Bankers long term care insurance is the only way to go; because long term care begins where a plain medical ensurance ends; it does not only cover hospital and medicine costs, it lets you adapt to your new life, helping your loving ones to take care of you the best possible way. In short, it helps you live with dignity.

Tips on Evaluating Return of Premium Term Life Insurance

From the outward look, you wouldn't think twice about choosing a return of premium term life insurance policy over any other life insurance cover. However, ROP term life is not always a black and white matter as it seems. But this is not to say that it is a bad cover though, but rather you have to evaluate it based on a number of financial considerations that are specific to your case. This post gives you some of the tips to consider in your evaluation process, and at the end of it all, you should settle for a term insurance return of premium policy that you are comfortable with.

Evaluating the Cost

First, the name of this type of insurance policy might cause a little confusion in terms of cost since most people know that term life insurance is generally inexpensive as compared to whole life insurance. However, you should remember that of all insurance policies in this category, ROP term life insurance is arguably the most expensive that you will find. In fact, the premium of the policy could be as high as three times the cost of an average term life policy.

With that in mind, you have to evaluate if the cost of this policy is within your financial reach despite its net cost being zero. There are various term variations to it, and an idea could be to go for a shorter term of for instance 10 or 15 years. While the longer terms offer you cover for an extended period, the issue of sustainability of the premium should be factored in. Remember that you only stand to benefit from term insurance return of premium if you are able to see the policy through its end. However, if you want to get maximum benefit from it, then take a term of between twenty to thirty years.

Combine ROP Term Life With Other Investments

Return of premiums term life insurance is generally a good life insurance policy for any person to consider, whether young or old. However, since the policy is a bit costly, it might help to take a shorter term option and save some money on the same. The money saved can be put into other appropriate investment tools. Logically, a 30-year term policy would cost you more than a 15-year term policy. So, instead of stuffing all your money in the 30-year ROP term life policy, spread the risk of investment and take the 15-year option, and invest the remainder elsewhere. This is basically in line with wise investment decisions -spreading the risks.

Secondly, you could also consider taking a normal term life insurance policy, which is by far cheaper and then the balance be invested elsewhere. All these options depend on your individual circumstances and your investment plans. However, it might assist to consult your financial advisor before taking the right step.

Key Advantages and Disadvantages of Variable Universal Life Insurance

A universal insurance company will normally offer different types of universal life cover policies, and one of them in the variable life insurance policy. This type of cover stands out for its vast investment options that it offers to the policyholders. One can opt to invest their premiums in investment tools like bonds, mutual funds, stocks and other related tools. Moreover, you can spread the cash in different accounts instead of putting all your eggs in one basket. However, this type of policy has its own merits and demerits which you have to consider before settling for it, and this post looks at the major ones to include in your considerations.

The Advantages

• Premiums are very flexible -This is very advantageous as far as the growth of the cash value of the policy is concerned. The variable life insurance policy premiums have both a maximum and a minimum payment. This means that part of the premium goes to the policy cover account while the rest is channeled to investment instruments. Moreover, chances of the policy lapsing due to inability to meet the premium payments are slim since the policy cash value account offers a stable cushion for this eventuality.

• Taxation Advantage -So long as the returns on the policy cash value are still in the policy account, they remain tax deferred. Normally, this account would be subjected to a capital gains tax of fifteen percent. However, you can turn around this advantage to your benefit by using the cash value of the policy to secure zero interest loans. That way, you totally avoid the paying tax on the returns made from investing the cash value of the policy account. However, make sure that the total cash value and the loan amounts never equal at any particular moment, otherwise you can be end up paying very high income taxes.

The Disadvantages

• High Investment risk -Since you are putting part of the premium in other investments, there is always the risk of losing money. This depends with the investment instruments that you choose. However, some underwriters usually offer a minimum rate of return guarantee on the variable universal life cover policies, though the guaranteed rate might be very low -even 2 percent. Moreover, you have to also factor in the investment fees, because these could sometimes dip into your investment returns. For this reason, it is very important to choose a universal life insurance company that guarantees a rate of return that is within reasonable market ranges on this policy.

• High Premiums -Being a permanent type of life insurance with investment options, it goes without saying that variable universal life insurance still has higher premium rates as compared to term life cover policies. However, it is better to focus on the long term gains if you want to choose this type of policy. For this reason, the policy is very ideal for people with families.

The above pros and cons of a variable life insurance policy might apply differently to different people with different financial capabilities and in different markets. It is therefore important to choose a universal life insurance company that will offer you the best deal with reduced risks on the variable universal cover policy.

Determination to Buy Long Term Care Insurance

Have you asked yourself lately, who should buy long term care insurance? Anyone who cannot stop upgrading his PC, car, and home furnishings is no doubt financially capable of buying this insurance product.

According to LTCI experts, individuals who have an annual income that is not below $75,000 are encouraged to buy a long term care insurance (LTCI) policy to hedge potential financial losses in the future.

Unfortunately, not everybody in the country earns that much in a year but this fact should not disqualify them from applying for an LTCI policy, right? Each person is responsible, after all, for his own finances so if he is determined to cut back on some of his daily expenses and whims, there is no reason he won't be able to save enough for the annual premium of his policy.

Each year the cost of care increases so growing old without a concrete long term care (LTC) plan can jeopardize not only your health and finances but your loved ones as well. It's a chain reaction, your long term care decision, so if you start off on the wrong foot this will eventually affect the people in your life.

Say if you wake up one day and realize that you cannot get up from bed anymore, let alone use the bathroom and take a shower that makes you an ideal candidate for LTC. Perhaps in the early stages you can afford to pay a home health aide to assist you with the activities of daily living (ADL) namely eating, bathing, toileting, dressing, continence, and transferring or walking.

Unfortunately, the hourly rate of a home health aide won't be $19 forever. What do you plan to do if it suddenly increases to $21? Now this is just about in-home care expenses. In the event that your health condition gets any worse and you would require nursing home care, $20 or even $30 won't be enough since the average daily rate of a nursing home is $209.

This is the time when family members begin to shell out their money to cover your LTC expenses. Once you're done receiving care, the people you love will probably be relying on food stamps for their daily meals.

Who Should Buy Long Term Care Insurance?

It's true what the experts say that LTCI is not for everybody. It's especially not recommended to people whose monthly income is below the poverty level.

But if you're a white-collar worker and you can afford to purchase high-end home equipment and signature clothes and shoes, don't you think dilly-dallying an LTC plan is pure selfishness?

People who love their families plan for their future health care. People who want to keep their independence and self-worth until the day they breathe their last would look at their options. People who work so hard so they can attain their goals and provide for their families will see to it that their efforts won't go to waste.

If you are any of the above perhaps you already know who should buy long term care insurance. Just remember that your LTC plan should not be dictated by money but determination.

Avoid These Mistakes When Buying Long Term Care Insurance

Whether it is a religious or personal choice of preference, some people do not like to apply for health insurance where a physical or medical examination is involved. The same can be applied to long-term care insurance because some people do not know when it is the right time to apply for insurance, or what is the best quote to obtain. You have a wide range of care options and benefits to choose from when it comes to buying long-term care insurance so make the right choice. You do not have to pick a policy where a medical exam is required. Some companies offer no medical exam policies when buying insurance.

Here are some of the most common mistakes you should try to avoid when deciding to buy long care insurance:

1. Thinking that most or all insurance companies require a medical or physical examination along with a submitted application before you can apply for long care coverage-

The reality is that some people are afraid of needles so they look for policies without exams. You may have a religious or personal reason as well so try to find the type of long-term care policy to buy from.

2. Relying on average benefit amounts-

Consider how big of a daily benefit you need. Do not buy more coverage than you actually need on a daily basis, and be careful with rising average costs.

3. Skimping on the waiting period-

You may be able to lower your premiums by choosing a longer waiting period before your benefits kick in. If you wait too long of a waiting period, the daily bills cost will be much higher than before when you consider the future cost of long-term care.

4. Picking the wrong type of inflation protection-

The best inflation protection automatically increases your interest and benefits annually, with the rising cost of care. While these policies often double the cost of coverage, your premiums continue to remain the same and your benefits keep increasing as well.

Future policies will require no medical screening, at least when they start off costing only half as much as policies that automatically increase your benefit amounts. However, these policies soon end up being expensive because of the increased benefits when you are priced at your age. You can choose not to carry out future care options, but then you have to make up for the loss of benefits or savings.

5. Assuming group coverage is the best deal-

Just because you work for a big employer does not mean that you are always getting a good special deal when buying term care insurance. Your employer may not even be able to help you find a policy that requires no medical or physical examination. As a matter of fact, group coverage usually costs married couples that do not want medical examinations more than if they bought individual policies with the same coverages. So if you have health issues or good health, then consider individual policies first to see whether you are offered a much bigger discount.

There are many more long term care mistakes that people usually make when buying care options. To avoid some of these mistakes, take the time to carefully educate yourself before trying to cut premium costs. Realize that there are plenty of companies and policies that offer no medical exam needed insurance options. So you do not need to take any needles just to get approved for well needed coverage if you do not want to.

Nursing Home Costs - The Cost of Long Term Insurance

A nursing home is a home for seniors that provides skilled medical services, personal care, recreation, and nursing care in a safe and supervised environment. The problem with finding a new environment to live in for yourself or an elderly loved one is that it takes a lot of time and patience to find the right one. There are different nursing home costs, coverages, benefits, and options to decide and choose from. Before deciding on a nursing home, make sure that you or your loved one is ready to move and transition into a new home. Here are a few simple tips to follow to help you on your search for a new place to live in:

1. Communicate with doctors, nurses, health professionals, and so on who care about you or your loved one.

2. Talk with some nursing home employees, especially assistants since they give most of the care. Consider how friendly the employees are, what the costs are for living in a nursing home, what are the living benefits, and other factors.

3. Contact a long-term care ombudsman.

Once you have made all of the necessary retirement planning arrangements and you are an elderly person that is finally ready to live in a new place, the next thing to consider are the different costs of rehabilitation services:

1. Under certain limited conditions, medicare will pay some of the living expenses for medicare beneficiaries that need skilled nursing or rehabilitation services. The first step to qualifying for medicare usually involves a stay at a hospital prior to entering your new safe haven.

2. Medicaid is a State and Federal program that will pay most of the dwelling costs for seniors with limited income and assets. The requirements may vary from state to state.

3. About half of all nursing home residents pay their living costs out of their own savings. After a long period of time living there, residents may qualify for medicare assistance.

4. Managed care plans may also help cover the costs of term life insurance and living in a new home unless there is a contract with the plan.

5. Private insurance or medicare supplement can help pay for gaps in medicare coverage. For example, you can supplement the costs of deductibles and co-insurances. Most medicare supplement plans do help pay for skilled nursing care when that care is covered by medicare.

The average cost of living in a medical home can depend on your age, health, zip code, and other factors. It really depends on what type of secure environment you plan to move into whether it is home health care, assisted living facilities, or nursing home facilities. Different states charge different term life insurance and nurse home costs. You can always try to find alternatives to medical houses that may work for you since it is possible that you may still feel like you can live with your family, friends, and loved ones at home. After all, some people only require skilled medical care for brief periods of time.

If you a senior that could use some vital help with finding the right costs of a nursing home, then consider talking to a doctor and social worker about what your needs are. You may find that looking for term life insurance or nursing home alternatives is much more easy and convenient for you than you thought it would be. Just because you are a certain age or you need to move into a new house does not mean that you should ever be turned down on some of the top senior term care life insurance options. You can find both the best medical care nursing home costs and term care life policies available to fit either yours or your loved ones needs without too much hassle depending on where you currently live.

How to Get Online Liability Insurance Quotes

Public liability insurances are imperative for any business venture, big or small. However, getting a public liability insurance is not as easy as 1-2-3. Owners need to determine the cost of insurance coverage for their company. There are conventional ways to do it like going to the insurance company directly or calling them one by one through phone. Yet, these ways are time-consuming. Business owners are busy people who need to attend to a lot of things. To make things easier and convenient for them, they can get online public liability insurance quotes straight from the net

In order for a business owner to get online public liability insurance quotes, they need to provide information regarding their business. The following which will be discussed are the 8 most important details needed by the insurance company. The first detail is the type of business. The next point is the incorporation of the business whether it is a sole proprietorship, partnership or, a limited company, among others. The third detail is the ratio of annual sales to the inventory.

The fourth information required are the particulars regarding any liability claims that the company had dealt with the past, if ever there are. It includes details on the case such as the situation, date of occurrence, and the cost paid. The next detail is the location of the business - whether it is in a commercial or an industrial area. It is then followed by points wherein the business will take in subsidiary organizations.

The seventh detail required to get an online quote is the information about the exact number of employees so as the agent can identify the premium. It includes the number of clerical employees, directors, and business partners. And the last, but definitely not the least point, is the preferred starting day of the policy.

After the completion of the public liability insurance online quote, the owner is expected to get a quote conformation sent directly to their e-mail address. Business owners can send information on their enterprise and get online quotes from several insurance companies. That way, they will have a chance of selecting the best insurance company that can provide their business the appropriate and most suitable public liability insurance.

Businesses and its owners should not be easily enticed to get the cheapest insurance policy: getting these types of offers are not all the time efficient as expected. Yet, expensive insurance policies are not advisable as well. It will be beneficial for them to make an online research for reviews on different online professional liability insurance quotes to get the best among the rest.

Matt Harmon has been a successful entrepreneur for over 12 years. His passion is for helping and protecting entrepreneurs on issues such as liability insurance. Visit his website for a great resource for general liability insurance information.