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You Should You Choose Term Insurance Instead of Whole Life Insurance

“Different strokes for different folks.”

When it comes to life insurance, it’s important

that you keep that saying in mind.

Most people are familiar with “whole” life insurance.

This is the kind of insurance where you will get back a certain amount of money when it

“matures” at the end of the insured period.

What you may not know is that there is another

form of life insurance called “term” life insurance.

Similar to whole life insurance, when

you get a term life policy, you pay a sum of money (the “premium”) to the insurance

company, and in exchange the company promises to pay out a certain amount of money should

you die during the period for which you are covered under the policy.

In other words, you

are buying insurance coverage for a certain period of time.

But unlike whole life insurance,

you will not get back any money at the end of the insured period when you buy term

insurance.

You may be saying to yourself, “But won’t I be throwing money down the drain?

After all, I won’t get back a single penny after the insured period!”

Hey, I understand how

you feel. But rest assured that term insurance is still a very idea, and I highly

recommend that you use it to your advantage.

So, why should you still consider term

insurance?

Well, one advantage of term insurance is that it’s cheap. In fact, for the same

amount of insurance coverage, the premium for a term policy is only a small fraction of the

whole life policy’s premium.

And this is why term policies are a great way for you to make

sure you are sufficiently covered. If you’ve never checked out the premiums of a term life

insurance, I highly suggest that you go do it soon. You’ll be surprised at how cheap it is

to bump up the insurance coverage for yourself!

Plus, you can use the money you save from

the lower premiums to invest in some other areas that can potentially generate higher

returns for you. This strategy is generally known as “buy term and invest the difference”,

and it’s something I recommend that you take into consideration as you do your financial

Want to know the 7 Things your auto insurance company should give you but doesn’t?

Do you think you have the best auto insurance coverage just because you’re with a “big name” company?

News flash, you’re probably getting less coverage than you think.

But first let’s talk about accident statistics in the U.S.…

The Facts:

There are about 3 million car-related injuries a year
• 2 million permanent injuries
• 40,000 deaths in the U.S. each year

About 40% of car accident fatalities are related to drinking and driving.
• 30% to speeding
• 33% from a car going off the road

Car accidents are currently the number one killer of people ages 1 to 37.
About 1 in 30 young drivers will be injured in an accident each year.
Young drivers are four times more likely to die in car accidents.
• much more prone to speed
• drive recklessly
• not wear their seat belts
• and drink and drive

There are Approximately 6.4 million accidents each year

Approximately 40,000 people die in auto accidents each year.

You may ask yourself what are the odds of me getting into an accident?
There were 48,366 Transportation accidents in 2002.
• One year odds of You getting in an accident are 1 in 5,953.
• Lifetime odds of You getting in an accident are 1 in 77. Are you the 1 in 77 to get into an accident this year?

Did you know?
Midnight to 3 a.m. on Saturdays and Sundays proved to be the deadliest 3-hour periods throughout 2003?

In 2004 there was a total of 38,253 Fatal Crashes.
• Over 26,756 Driver crash victims
• 10,304 Passenger Victims
• 4,641 Pedestrian Victims
• 725 Pedacyclist Victims

Let’s move on to Insurance Coverage.

Here are the 7 things your auto insurance company should give you but doesn’t!

1. Full replacement cost paid if your new car is totaled in the first year at no additional cost.

2. Towing and roadside assistance included with your policy at no additional charge and no reimbursement required.

3. Bilingual insurance representatives available 24 hours a day 7 days a week to provide policy service or take claim reports.

4. Extension of your policy coverage and limits when driving in Mexico within 100 miles of the U.S. Border.

5. Discounted rates for qualified members of certain occupational groups.

6. Temporary coverage for student children home on holidays at no additional charge.

7. Waiver of collision deductibles if both parties involved in an accident are customers of the same company.

Prepare To Rent A Car When Going Abroad

Voyaging abroad with a leased auto is significantly more helpful than whatever other methods for transportation since it gives you the opportunity you have to travel serenely. Not at all like prepares and transports, enlisted autos may take you wherever you need to go when you need to. On the off chance that you need to lease an auto on your next outing abroad here are a few hints that can encourage your work.

As a matter of first importance, you have to perceive what auto contract and vehicle renting organizations are accessible in the nation you will visit. In the event that you anticipate crossing different domains, you have to pick the organization that is available in these nations so you can achieve your goal without evolving autos.

When you have picked your organization you have to influence a guide with the principle places you to need to visit and decide the most open schedule. You may likewise depend on the worldwide situating framework keeping in mind the end goal to ensure that you don’t get lost through obscure spots.

Knowing the condition and the length of the street empowers you to pick the fitting auto for you and your family. Over that, you have to contemplate the quantity of travelers and the amount of gear that you will take. In the event that you will spend over seven days out and about, you presumably need to enlist a troop so you can rest throughout the evenings.

Deliberately check every one of your papers and archives keeping in mind the end goal to ensure that your character card and your driver’s permit are not terminated in light of the fact that you will require them to employ the auto. It is additionally essential to peruse the terms and states of the auto’s protection; give careful consideration to the passage alluding to the kind of occurrences that the protection covers. In the event that you need to ensure that you’re driving capacities are universally remembered, you ought to get an International Driver’s License which is acknowledged wherever on the planet regardless of how far your goal might be.

We unquestionably prescribe you to go by leased autos in light of the fact that they offer you and your family security against unsafe voyagers and different dangers. Furthermore, a leased vehicle gives you the likelihood to visit all the touristic attractions without investing excessively energy and cash out and about. The costs are considerably more helpful in the event that you employ the auto for a more drawn out period, so now you have more motivations to travel.

Effective Airport Shuttle and Car Renting Service in Chicago

In the event that you are intending to investigate the City of Big Shoulders, Chicago, at that point I am certain you are on the suitable platform for no particular reason binge. Unquestionably, the rich and peculiar areas of Chicago have made this city, the earlier pick of explorers. Both abroad and residential explorers want to make Chicago their last goal for either relaxation or business reason inferable from its startling spots like Navy Pier, Magnificent Mile, State Street, Chicago Public Library, Millennium Park and Buckingham Fountain. Promote more, Chi-Town is the center for industry and framework that engages the interest of various exchanging individuals. The two noteworthy airplane terminals at Chicago is Midway International Airport on the South Side and O’Hare International Airport on the North West Side. While, O’Hare International Airport is the second busiest airplane terminal on the planet, however relying upon the aircrafts and arriving place, guest may arrive at both of them.

Albeit Alpha World City is very much obeyed with rail benefits however to dig up the privilege entertain, it will be suitable to enlist Chicago auto administration or Chicago Airport Shuttle. Such administrations empower the guests to move generously and advantageously. Airplane terminal Car Rental, Shuttles and Busses are among the fundamental implies that can be enlisted on the premise of your essentials like spending plan, baggage limit and number of individual voyaging. Contingent upon these limitations, one can without much of a stretch guarantee the protected and sound trek. Subsequent to drawing in the auto administrations visitor can be salt away the chances of chasing taxi and wastage on charges. Also, when you have your own particular autos then you don’t need to rub bears in the rail, arrive wherever helpfully and serenely.

With a touch of arranging and research one can secure the best auto benefit, all you require is to peruse the web and find the superlative suppliers of air terminal autos and transports. Such organizations are stipends the considerable arrangement for the individuals who are unacquainted with the areas. Their administrations incorporates the protected, agreeable and incite trip to and from airplane terminal in addition to whatever other area in Chicago, be it Portage stop on the Northwest Side or Washington Square Park on the North Side. In the event that on business trip, you can reach anyplace on the speck with no bother. The administrations of these organizations are dependable, customized and proficient. The autos in addition to their drivers are affable and sufficiently awesome to make your trek the charming without any diversion of separate.

On the off chance that you are stressing that profiting these administrations may get a hole your pocket, at that point loosen up your questions for the reason that you can get the most ideal administrations at truly low costs. What’s more, contracting auto benefit is profoundly solid for making your outing to Windy City, the exceptional one.

What You Need to Know About Pet Health Care Insurance

Before you purchase a pet health care insurance plan for your pet, check the list of the companies approved veterinarians to see if your veterinarian will accept the companies check.
Ask your local veterinarian what type of pet health care insurance plan would best suit your family pet. Ask your local veterinarian to read over the plan and listen to their advice. Talking to your local veterinarian will also help you establish if the insurance company you are considering purchasing your pet health care insurance plan from is reputable.

If you have purchased a pet that is as of yet unaltered you’ll want to look for a pet health care plan that includes neutering and spaying.

Before you pay for a pet health care insurance plan you need to carefully read how the policy handles prescription coverage. Most companies that sell pet health care insurance do not include prescription coverage in their basic medical health care insurance plan. If you are concerned about the cost of any prescription your pet might need during the course of its life you should probably consider buying a prescription coverage rider to complement your pet health care insurance. Although this rider may appear expensive and unnecessary you’ll probably wish you had purchased it if your pet is ever given a prescription for anything. Just like the human counterparts prescriptions are very expensive.

One of things you need to take into consideration when purchasing a pet health care insurance plan is the deductible. The deductible is the amount of money you pay out-of-pocket for veterinarian services rendered that your pet health care insurance plan does not cover. Different pet health care plans require different deductibles. The higher a the deductible you choose the lower your monthly payments to the insurance company but the higher deductible the more out-of-pocket extension had each time you visit the veterinarian’s office/clinic.

Most pet insurance companies have “cap” or limit placed on each pet health care insurance plan. This cap varies from one procedure to the next a broken leg will probably have a different cap then cancer treatments will for your pet. Before you purchase your pet health care insurance plan talk to the company representative about waiting periods. Find out exactly how long it’ll take over the policy to be effective and how long the general wait for claims to be reimbursed is. Most companies have a ten day period between the time they receive the vet bill and when the check gets placed in the mail. Also find out how the refund is processed. Does the pet health care insurance company pay the veterinarian directly or do you have to pay the vet and the company mails the check to you when they receive the bill.

Why you have the company representative on the phone task about any and all exclusions that might be included with your pet health care insurance plan. Specifically ask about any and all pre-existing conditions and hereditary defects that might come up later in your pet’s life. Many pet owners especially, those that have dogs, discover that hereditary defects come into their particular dogs are not covered by their pet health care insurance plan. Some companies will allow you to cover these potential problems with an additional rider. In some cases your local veterinarian will be able to warn you about any exclusions.

If you are considering a comprehensive health care insurance plan ask if the plan covers teen veterinarian visits such as; dental care, immunizations, and heartworm testing. Also ask if the pet health care insurance plan also covers the office call.

Veteran Universal Life Insurance – What Is It And What Are The Advantages?

Veteran Universal Life Insurance is insurance that works for veterans to aid them in their post military endeavors. Universal life insurance means that you can vary or even suspend your premium payments depending on the financial pressures you face. Unlike typical life insurance, which pays out only on the demise of the policy holder, or at a nominated age, veteran universal life insurance is an investment scheme as well as life insurance.

This means that you build up a balance which you can borrow against or from to finance various purchases. The flexibility that is built in with payments is unparalleled in the insurance world, and can really help you and your family financially. If the policy is performing well, your beneficiaries may even receive more than the nominated death benefit.

You can also borrow on the balance of the insurance, for things like post retirement income. These withdrawals are deducted from the death benefit which is paid out to the beneficiaries. All these benefits do come at a cost however, a cost that you bear in the form of higher premiums than normal life insurance.

Where the advantage comes in is that you can effectively combine life insurance and investment together, not only that, but the policy can be tailored to suit the needs of a growing family. You can often choose which investments your policy goes towards. You can choose from stocks, bonds, and mutual funds. Not only that, but you can often change which investments your premiums go towards if you so desire.

This means that you can choose the amount of risk you take on, all whilst reaping the rewards that come with investments. Veteran universal life insurance can be an excellent investment and means of safeguarding your family financially, but it does pay to investigate the ins and outs of the particular policy offered to you, and also to learn a little about investing before you take the plunge.

What you need to know about insurance

Getting an insurance is one of those ‘life’ requirements that you should be looking into early in your career, especially now when you are still able to work and earn money. in addition to being better able to pay for the insurance, younger individuals also pay less. This is one of the principles of insurance. Since younger people are less likely to die, they are given cheaper rates as compared to older individuals.

Insurance protect financially you and your family in the future. Depending on the kind of insurance that you will choose to get, insurance can even provide for your health concerns, for your retirement and even for your death and burial.

But while it is important that we are protected against any unexpected eventualities, some people still shy away of availing insurance on their own, preferring their companies to do it for them. Like legal matters, all those insurance mumbo jumbo tend to confuse and sometimes even frighten people.

Here are some of he frequently asked questions about insurance.

What are the kinds of insurance?

There are two major types of insurance. The life and the non-life insurance. The life insurance, as the name suggests, protects the family of the person in case something happens to him. When a person who is insured dies, the money that he insured will be given to the beneficiary that he has chosen.

The non-life insurance is an insurance that protects properties. Under this category, there are several different types. There car insurances, which protect automobiles from wreckage in case of accidents; property insurance, which protects properties especially houses from fire and other forms of destruction; deposit insurance, which most banks have in order to protect their depositors from losing their money in case the bank suffers financial setbacks; and health insurance, which helps in covering for medical and hospital costs. Among the various non-life insurance, the most popular is the health and car insurance.

Some insurance also provide for the future. Some of the insurances are retirement plans and death plans, which covers for burial costs.

What is the difference between a premium and a face amount?

Premium refers to the amount that you have to pay every year for the insurance. Some insurance companies also offer to divide the premium into monthly installments to help their clients. The face amount on the other hand is the amount that you have insured yourself into. For example, if the face amount in your policy is set at $500,000, then your beneficiary will receive $500,000 when you die.

What do you mean by double indemnity?

Some insurance policy offer an accidental clause that would double the face amount in case death has been established as accidental. This is done to protect the insured’s family in case of an untimely death. Double indemnity means that the face amount will be doubled when death is accidental.

Is the beneficiary always the legal spouse?

No. Contrary to popular opinion, it is not always the spouse who is the beneficiary. It is up to the person to choose, who he names as beneficiary. It can be any member of the family as long as insurable interest is established. If in case, the children are named beneficiaries and are still not in legal ages, a ardian will be named to assume control of the money for them.

The Five Key Steps in Medical Insurance Review

Medical insurance reviews provide results in a timely fashion. Filing a medical claim can be a lengthy process prone to miscommunication and breakdowns in the chain of paperwork. Bringing in an independent review organization can tap into deep reservoirs of medical expertise. The review on this level can determine an objective approval or denial of an insurance claim. The denial will be based on medical fact, however and not on anecdotal evidence.

The Five Key Steps in Medical Insurance Review

The following steps illustrate how a medical claim is reviewed.

· A patient is prescribed a treatment for a condition or injury. The medical opinion of the attending physician along with related charts and information may be submitted or requested in order to request coverage of the insurance claim.
· Medical and physician resources are provided the medical information and asked to review the treatment and prescribed recommendations.
· The medical specialist assigned to the case will provide an unbiased opinion with regard to the treatment.
· An insurance expert reviews the terms of the patient’s coverage as offered by the insurance company. They will offer an unbiased determination with regard to whether the patient is covered for the treatment in question.
· Finally, the two opinions are combined to return an objective recommendation for approval or denial.

On Time Decisions

This process allows for healthcare decisions to be made in a timely and expert fashion. The resource is invaluable for all aspects of the healthcare profession. Patients will receive approval for vital treatment that may be otherwise rejected by a large insurance company that handles its own medical reviews internally and without expert sources.

Anecdotal evidence is never used to deny a claim or pay for an unnecessary treatment. The use of third-party experts and medical specialists provides claim managers with the verification and authentication needed to do not only the right thing, but also the best thing. The medical insurance review process removes the factor of uncertainty that claim managers may face in a world of rising medical costs, complex specialization and treatments.

Avoids Ill-Informed Approvals and Denials

Healthcare costs skyrocket in an atmosphere where a claim manager must err on the side of caution to either pay for unnecessary treatment or deny one that is necessary. Without using an independent review organization, the insurance company may lack the resources to make a decision in a timely fashion.

As illustrated by the five key steps of the review process, experts from both sides of the equation are consulted. Complicated medical technology combined with equally complicated insurance policies and terms can make for a morass of misunderstanding without the right types of expertise. The process also reduces the amount of frustration felt by claim managers, patients and physicians by filtering the claims through the right hands to get the right advice and interpretations.

Fiscal Responsibility

The more approvals of unnecessary treatments, the higher insurance costs will soar. The medical insurance review process allows a claim manager to make an informed decision and eliminate unnecessary treatments. Patients and physicians rely on insurance coverage to underwrite potential treatments for a multitude of conditions.

An insurance expert understands the complex terminology of a coverage policy. Specialized physicians understand the nature of illness and treatment. The combination of expertise improves the process of treatment review and coverage approval. That means no lengthy waits for vital services and no funding for unnecessary ones.

This process has a dramatic impact in reversing the trend of rising healthcare claim costs. By dramatically reducing these riding costs, an insurance company can save money for their consumers, their shareholders and the healthcare community.

Ways to Save on Auto Insurance

The American economy is sucking a lot of money out of consumers’ pockets due to high gas prices and the general increase in every other consumer good from food to clothing that is associated with high oil prices. However, there is good news on the horizon, and that is that auto insurance rates are being reduced. Despite this reduction, there are several things you should keep in mind when shopping for car insurance to ensure you receive the best rate and coverage for you and your vehicle.

Tip #1 Shop Around
There are so many different auto insurers out there you might think it difficult to find the best insurance at the lowest prices. However, don’t despair because all you have to do is shop around. The easiest way to do this is to go online and search all your favorite car insurers in order to receive a fast and free online quote. Then, you can simply compare the services and prices of the insurers and make the best choice for you. Spending a little time on research might save you hundreds of dollars on car insurance.

Tip #2 Look for the Discounts
You may not have known this, but many auto insurers provide discounts to drivers for good driving behavior and other reasons as well. So, ask about the discounts available through various insurance providers and consider how many you would qualify for. More than likely if you qualify for one or two then your rates could easily drop several hundred dollars per year.

Tip #3 Maintain Your Credit
Unbeknownst to you, your credit score affects your car insurance rate. As a result, you should be sure to maintain your credit score as high as possible in order to not only receive the benefits of good credit, but also to pay lower car insurance premiums. It is really worthwhile, and something you will benefit from economically.

These tips are great ways for you as a consumer to take your car insurance needs into your own hands and find the best provider with the lowest rates and most coverage. When you start doing the research, you will be amazed how much money you can save as well as how many more benefits you can receive. Go ahead and start saving on your auto insurance today, there is no reason to wait.

Understanding The Features Of Your Car Insurance

It is a common notion amongst people to believe that choosing a car insurance is as straightforward as choosing the right car, when buying a car. The fact is that car insurance can actually be pretty complicated. Many people simply nod their head and make their monthly insurance payments but they don’t really understand what their coverage offers them.

Car Insurance Basics

Liability coverage is likely to be offered when you buy your car insurance. This is the basic coverage that you will find with any insurance policy and basically what this coverage does is pay for the bodily injury and property damage that is caused to others involved in the accident that you are at fault for.

Medical bills and lost wages are taken care of by the bodily injury coverage while property damage will cover up for the repair or replacement of the property that you damaged. This coverage does not pay for the damage that happens to you or your vehicle.

Liability insurance is often broken down into numbers such as 20/40/10, which means that your coverage includes $20,000 in bodily injury, $40,000 in bodily injury per accident, and $10,000 in property damage coverage.

The difference between collision (or comprehensive) coverage and liability coverage is that the former will repair your vehicles as well as the vehicles and people that you hurt in the accident caused by you. With this type of coverage you won’t be able to receive more than the value of your car, but you will get something to put toward repairs or replacement of the vehicle.

The most expensive type of coverage is this one. But if you select to have a high deductible you will be able to keep your payments down and still have this coverage that you need if you are involved in an accident. Comprehensive coverage is considered as the ideal type as it also covers the damages caused to your car such as fire, theft, natural disasters, and/or hitting animals in the road.

You have a lot of choices in coverage options to choose from , for your car insurance policy. One such option is medical payment coverage. This coverage will pay for your as well as your passengers medical expenses when you have been involved in an accident.

One of other options also include PIP (personal injury protection) coverage. This coverage can help pay for those medical expenses but will also help you if you are unable to work, unable to take care of your kids, or if you have to pay for a funeral.

Uninsured or under insured motorist’s coverage is yet another type of coverage you may want to consider purchasing. This coverage will help you pay for damages if you are struck by an uninsured or underinsured individual.

Other options that you may want to consider are rental reimbursement if you have to rent a vehicle because yours is in need of repair or stolen, towing and labor coverage, and gap coverage, which is coverage that pays the difference between the cash that you receive for a total car and the amount left on the car loan. When you are in any these situations, the add on features can come in really handy.