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Insurance Articles

How to Keep Your Auto Insurance Low

December 10, 2013 | Insurance | No Comments

Most individuals who are looking for auto insurance in Phoenix want to pay the lowest rate they can while still obeying the laws of their state. One of the things a person can do to qualify for a low auto insurance payment is to maintain a clean driving record. A person with no traffic accidents is a better risk for an insurance company than a person with several accidents. Look at a few of the simple precautions a person can take to decrease the chances they will be in a traffic accident.

First, a person should have no distractions when he or she is driving. This means that a person should never text when driving. Talking on the cellphone, hands-free or not, is also a distraction. A driver who pulls over into a parking lot to make a call is making a decision that may help him or her to avoid causing or being in an accident.

Next, it’s a wise habit for a driver to stay at least a car’s length behind the person in front. Even if the road is perfectly clear, this distance gives a driver the few extra seconds he or she needs to possibly avoid an accident. This distance is even more important to maintain in the changing road conditions that can occur during a thunderstorm or a snowstorm. A driver who wants to maintain a clean driving record (and receive low monthly rates for auto insurance) will take every reasonable precaution on the road.

Taking good care of a car’s tires is another thing a person can do to improve his or her safety on the road. Tires with low tread do not have as much traction as well-maintained tires. This traction can help a person while he or she is driving in the rain, snow or ice. A person who is able to safely maneuver his or her car during inclement weather is less likely to get into an accident.

Finally, a driver who pays attention to what is in his or her blind spot is less likely to get into a traffic accident. Many accidents are caused when a person tries to turn or change lanes without checking the blind spot on the driver’s side. Cars can soundlessly approach and cruise in a driver’s blind spot. It’s wise for a driver to monitor that area as he or she progresses down the road.

Making the Case for a Life Settlement

July 25, 2013 | Insurance | No Comments

life-settlement-proccedsIndividuals who have a life insurance policy may feel they have limited options based on the terms that are included with their policy. Many senior citizens often let life insurance policies lapse or cash out an unnecessary policy for a small amount of cash. However, life settlements for seniors exist which can be used to unlock the benefit a life insurance policy provides to beneficiaries.  

A life settlement is the process of selling a life insurance policy to an investor or third-party. A payment is made based on a percentage of the death benefit. This means a senior can receive a payment that will often be more than the cash value offered by the policy. Selling a policy for cash is better option for the policyholder than letting the policy lapse or simply collecting the cash value. A life settlement company will purchase and the policyholder will no longer retain ownership of the policy. The purchaser of a life insurance policy will be the one collecting the death benefit.

End Financial Struggles

One reason a life settlement may be a good option is to eliminate the burden of paying a premium each month to maintain a life insurance policy. Most seniors can choose to sell their life insurance policy for cash when making monthly payments if a financial struggle. Seniors can receive a lump sum of cash to use as a means of financial freedom. Life settlement companies provide a lump sum payment based on a variety of factors, such as current health and life expectancy. Find out more information on life settlement.

Considerations for Seniors

Senior citizens who need access to funds due to financial concerns may want to consider the use of this option. Selling a policy for cash does not limit anyone from obtaining any other insurance options. The best use of a life settlement is to take a vacation or even pay for a long-term care policy. Many options to how a cash payout can be used are available to seniors. They only need to learn about available possibilities.

Financial Empowerment

Seniors who are relying on social security or pension payments may not have enough funds to fully enjoy all the benefits of their retirement years. Life settlements offer a way for seniors to reorient priorities. This means other expenses can be paid without having to sell other assets to make up the difference. If a life settlement is used correctly, then any life changes that occur will not be a financial burden.

Contact a life settlement provider for more information about selling a life insurance policy. A representative will explain the process and provide an estimate of an expected payment for a policy. 

How to Protect Your Home and Business with Umbrella Insurance

June 11, 2011 | Guest Post | Insurance | No Comments

If you currently have insurance coverage for your home or business, there is a portion of that insurance coverage known as liability insurance. Chances are the liability insurance that is included in your policy has limits. This means there is a maximum on what your liability insurance will cover. Sometimes this coverage is not enough to cover all costs of legal issues, and that is where umbrella insurance comes in handy. Umbrella insurance provides additional coverage above and beyond what is covered under your normal insurance policy. In today’s world, it is a very smart idea to carry umbrella insurance on your home or business.

Protecting Your Home

In many homeowners insurance policies, there are gaps in coverage that may pose problems should a claim arise. These gaps in coverage mean that certain things may not be covered under your regular homeowners’ policy. There are likely liability coverage limits on your homeowners’ policy as well. This means that even if a claim arises and is covered under your policy, there may not be enough money available to cover all of the legal costs that go along with it. Umbrella insurance kicks in where your regular insurance policy leaves off, making it an extremely valuable investment.

Say an accident takes place on your property and someone is injured. Will your current insurance policy be able to cover all of your legal expenses, as well as the injured person’s legal and medical expenses? The answer is probably no. That means that your assets and future earnings could be at stake if your current insurance policy is inadequate. The price of an umbrella insurance policy is really not that much compared to the lifelong issues you could face without one.

Also, some houses may pose more of a risk than others. For example, older houses often carry more of a risk than newer ones. This is because electrical systems, windows, and stairs in older homes are often outdated. Additionally, households that have dogs, specifically large or dangerous breeds, may also carry a larger risk than households with small dogs or none at all. Umbrella insurance is a wise choice if you have an older home or dogs that may cause injuries to others.

Protecting Your Business

If you own a business, you know that liability insurance coverage is extremely important. This is because there are so many areas of liability in the world of business. Although you probably have general liability coverage on your business, it may not cover the entire amount if a claim is filed against you. Even if you are a business with product or professional liability insurance, these will not always cover every situation or claim. Umbrella insurance is especially important for businesses to carry because of the increased risks and liability.

For example, your business may use dangerous machinery on the premises. This machinery can pose a major risk to employees or anyone that comes into your business. Should an accident occur, will your regular liability insurance offer enough protection and coverage for the claim? There is a good chance that it will not. This is where an umbrella insurance policy would come into play and offer that extra level of protection.

Even if you have insurance for your home or business, the coverage that is included in your policy may not always be sufficient. Umbrella insurance offers additional coverage and kicks in where many policies leave off. It can be a lifesaver in many cases, and is almost always worth the small amount of money it may cost you.

Guest post from Bailey Harris.

Car Insurance Tips for Senior Drivers

March 29, 2011 | Insurance | No Comments

Every driver wants to have the best premium rates for his or her car insurance and when the income is fixed and there exists a list of essential expenses and purchases, as in the case of senior citizens, there is a need of discounts over the premiums. Most of the senior people are not aware of the fact that there are various auto insurance companies that offer benefits for mature and older drivers. So if you are looking for tips to aid you in saving money over your car insurance, just keep reading!

If you have been with the insurance company for years, try out some negotiation with your insurance provider otherwise you can switch your auto insurance company after reviewing different insurance quotes and deals offered by different car insurance providers. This will help you in saving a lot over your car insurance and offers you best coverage. Since you are a senior citizen, you are eligible for certain discounts that are offered by the companies over the insurance premiums. It is presumed that the period of driving at old age is less so you do not have to pay more premiums. With age, the premiums may vary and so do the discounts.

Having a good on road record works in favor of the older drivers and can draw them cheaper auto insurance. A well equipped safe car can help the senior people in their driving and thus make them les vulnerable to accidents which directly mean that their chances of claiming for insurance are less. There are few insurance companies that offer discounts to the seniors if a certain amount of driving mileage is over a specific age. With the help of above mentioned tips, you can easily get yourself cheaper car insurance and thus can lead a happy life without caring for your insurance premiums.

Obesity Can Raise Your Health Insurance Premium

November 15, 2010 | Guest Post | Healthcare | Insurance | No Comments

This morning, my health insurance company sent me a very nice note with a very ugly truth inside: my premium went up because 55% more people in 2009 than in 2007 received surgery for obesity.

Health Insurance Premiums and Weight on the Rise

The estimated annual cost for treatment of obesity is $200 billion, but 70% of disease is preventable and 87.5% of claims made are due only to the individual’s unhealthy lifestyle choices, to include but not limited to poor diet, over eating, smoking, excessive drinking, lack of exercise, and more.  One of every five healthcare dollars are spent on treatment of diabetes.

As stated in this web site’s February 3rd post of 2009, many health insurance holders are provided insurance by their own workplace; because healthcare costs are only rising, businesses are pushing expenses toward their employees.  Even those of us who are physically fit must pay for the irresponsible lifestyles of others.  This is part of being a citizen of the United States; rather than complaining about health insurance premiums and healthcare reform (not that criticism isn’t warranted), we must ourselves take action by living more healthful lives.

A Little Known Truth About Dieting

The known tips and tricks are old and known, even trite: don’t eat fast food, don’t eat lots of sweets or salty snacks, exercise three days a week, diet, diet, diet.  How, then, is a nation so obsessed with dieting— the American diet industry makes close to $40 billion annually selling pills, foods, cookbooks, DVDs, clothing, etc—also known as the fattest nation on the planet?

The answer is more obvious than we think.

Dieting

Clinicians at eating disorder treatment centers—commonly believed to be filled only with “skinny” folk like anorexics and bulimics—know that dieting is the biggest trigger of eating disorders.  In truth, eating disorders are not limited to “skinny” diseases but include habitual overeating, stress eating, mindless eating, binge eating, and more.  These are the diseases causing our health insurance premiums to rise.  In fact, about one in two individuals enrolled in dieting programs suffer from BED, or Binge-Eating Disorder, which inevitably leads to weight gain and even, in some cases, heart disease and diabetes.

How Dieting Is Making America Fat

Here is the logic behind this paradox: If a parent tells a child to not eat a single “bad” food like a cookie, a candy cane, an ice cream cone, a donut, or a bag of chips in an entire emporium of “bad” foods, what will the child do?  Want the “bad” foods more and eventually cave in and eat all the “bad” food the child’s stomach can take.  Then, the child feels bad for disobeying his or her parents and vows to never do it again . . . until the next time he or she caves and binges on “bad” foods.  The child in this case is any dieter, the parent is society (run by the diet industry and media, hand in hand), and the emporium is any American fast food restaurant or grocery store.  We are daily surrounded by stress that makes us seek comfort food by which we are surrounded, and the more we are told by society to not eat “bad” foods, the more we want them.  Eventually, we all cave.  “For every diet, there is an equal and opposite binge,” according to Geneen Roth, a disordered eater for nearly twenty years and now a Good Housekeeping columnist and advocate of natural health and weight.

So, for the sake of our own health and the health and happiness of our wallets, let’s rethink diets and dieting and seek, instead, balance.

Bio: Maria Rainier is a freelance writer and blog junkie. She is currently a resident blogger at First in Education, researching various online degree programs and blogging about student life. In her spare time, she enjoys square-foot gardening, swimming, and avoiding her laptop.

How Much Auto Insurance Do You Really Need?

October 25, 2010 | Guest Post | Insurance | 1 Comment

With the national uninsured rate rising at a steady pace, having adequate auto insurance coverage has become more important than ever. If you get into an accident with someone who is either underinsured or driving without insurance, you could suffer both fiscally and physically. On the other hand, you don’t want to buy too much insurance. Auto coverage isn’t cheap, and you could end up spending way more than you have to if you purchase coverage you don’t really need. The following info will help you sort through coverage options, required minimums, and recommended asset protection.

Coverage Options

Every auto insurance policy consists of a collection of coverage options that protect you from different things. You can choose to purchase all of these coverage options or a select few.

  • Liability – Liability policies cover other people’s expenses when you are at fault in an accident. There are two types of liability coverage: bodily injury liability, which pays for other people’s medical expenses, and property damage liability, which pays for damage done to the other car.
  • Personal Injury Protection – Also known as Medical Payments or Med Pay in some states, PIP covers your medical expenses regardless of fault. PIP also covers the medical expenses of your passengers. Other costs that may be covered include lost wages due to injury and funeral expenses.
  • Uninsured or Underinsured Motorist – This type of auto insurance coverage is designed to help cover costs that may be incurred by you if you are hit or injured by someone who either has no insurance or has only minimal coverage.
  • Collision – Collision covers damage done to your car in an accident.
  • Comprehensive – Comprehensive covers costs if your car is stolen, vandalized, or damaged by something other than a traffic accident, such as fire or falling objects.

 

Required Minimums

Every state in the nation requires motorists to have liability insurance. Minimum liability limits can vary from state to state. For example, in Alaska, the minimum requirements are $50,000 of bodily injury liability for one person, $100,000 bodily injury liability for all people, and $25,000 property damage liability. In Florida, minimum requirements are much lower–$10,000 of bodily injury liability for one person, $20,000 bodily injury liability for all people, and $10,000 property damage liability.

Some states also require motorists to carry personal injury protection and uninsured or underinsured motorist coverage. Additional requirements may also be set forth by your lender if you lease or have a current loan on your vehicle. The amount of insurance or types of coverage your lender will ask you to buy may vary but will almost always cover the actual cash value of the vehicle or the amount of the loan.

Deciding How Much Insurance to Buy

The amount of auto insurance you need is very dependent on your individual situation. First and foremost, you will need to purchase the minimum amount of insurance required by the law in your state. After doing that, you will need to decide how much your vehicle is worth and whether or not you need to protect your assets in the event of a lawsuit.

If you are driving a junky car you may be able to get by with minimum coverage. If you drive a nice car, you will want to make sure you have enough coverage to recoup the full cost of repairs or replacement of your vehicle after an accident.

You may also want to consider protecting your assets in the event of a lawsuit. The minimum amount of liability insurance required by law may not be enough to cover someone else’s medical expenses. If the accident is your fault, the injured party could come after your assets.

Many insurance experts recommend purchasing 100/300 limits of bodily injury liability for additional asset protection, but this is just a general rule of thumb. To determine your individual needs, you should calculate your net worth and make sure you are covered for an amount equal to the total value of your assets.

Guest post from Bailey Harris.

The Basics of Life Insurance Video

December 1, 2009 | Insurance | Videos | 1 Comment

Above is a video about the basics about life insurance.   Most people don’t think about getting life insurance until its too late.  The video does a good job of explaining the basics.  Get Life Insurance quotes HERE.