Archive for November, 2009
Monday, November 30th, 2009
Once young couples get married and are ready to start a family, most begin considering life insurance as a way to protect their families and their future. If the husband is the main breadwinner in the family, most will want to have a life insurance policy specifically for him. This policy can help supplement the family’s income should he pass away. However, in many families today, both the husband and the wife earn similar incomes, so they would want to consider carrying policies for both of them.
There are a large variety of life insurance plans available and it is important that a potential insured take the time necessary to thoroughly compare life insurance plans to be certain that the policy being purchased is the one that is right for you.
Agents and brokers are always available to help you choose an appropriate policy and, because they are professionals and very knowledgeable about the products they sell, they should be able to guide you through the purchase successfully. Ask them to explain any sections of the life insurance policy that you do not understand. Have them provide you with life insurance quotes and explain the differences between policies and why the life insurance rates often vary greatly.
When working with an agent or a broker you want to be able to feel comfortable with the services they are providing. If you feel that they are not looking for your best interest and just want to make a sale then you should contact another broker. Purchasing life insurance is a major step to financially securing your families future and you wan tot be sure to work with someone you can rely on for this important part of your life and your families.
Depending on what type of financial security you are wanting to leave your family with, will reflect the amount of your insurance payments. Many companies also provide life insurance policies for their employees, that are equal to a multiple of your salary. If you feel that this amount is substantial enough to provide for your loved ones then there is no need to take out an additional plan. However if you decide that you want a little more security for your family then you can take out a small plan that will supplement your family in addition to the one you are carrying at your place of employment.
It is important to compare life insurance plans when you are searching for life insurance rates. To obtain numerous quotes in minutes go to www.lifeinsuranceplace.com.
Tags: accident, affordable life insurance, comparative, fast, health, life insurance plan, medical, premiums, quotes, term, whole life
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Sunday, November 29th, 2009
Early last year, South African life insurers finally acknowledged the strides in AIDS treatment when the industry body, Life Offices’ Association, said these companies would begin paying death and disability claims to HIV/AIDS infected customers.
Before this development, those carriers who offered life cover for HIV positive clients did so with reduced payoffs and premiums sometimes nine times higher than those for healthy persons.
With about 5.4 million of South Africa’s 47 million people infected by the disease, this decision opened up new possibilities for this population segment. Without the ability to purchase life cover, many could not get home loans, business loans or provide for their families in the event of their deaths for any cause.
Contributing to this turn in the industry is the growing success of AIDS/HIV treatment. Many recognize that AIDS/HIV is a disease of extremes instead of averages. Those who monitor their health and get treatment do well. Those who do not die quickly.
For this reason, the new AIDS/HIV life cover policies are structured to require policy holders to receive and maintain antiretroviral treatments. With this requirement met, AIDS/HIV is considered a chronic, treatable disease like diabetes and many other chronic diseases, and is therefore insurable.
Premiums for AIDS/HIV life cover policy remain higher, but are no longer prohibitive. Age, gender, smoking habits and additional medical history are other variables that affect premiums for these policies. Eligibility depends on the applicant’s age, ability to work and lead an active life, medical condition and manner in which the individual contracted the virus. Those who were infected through sexual contact or an accidental needle stick are considered a lower risk than intravenous drug users. Blood tests are performed to ensure an acceptable level of the virus in the applicant’s bloodstream.
AllLife was a groundbreaker in the affordable AIDS/HIV life insurance market. Clients commit to treatment once their CD4 count (a measurement of the strength of the immune system) falls below 200. The company monitors and encourage adherence. Those who default lose their cover.
The company targets a pool of about 2 million HIV-positive South Africans earning a minimum monthly salary of R2,500. Their client base includes a range from domestic workers to company executives. Most receive medical aid to pay for their ARV treatment.
Products include Term Life insurance with varying durations of cover and fixed premiums, Whole Life “standard” insurance providing level cover as long as premiums are paid, and Home Loan Protection insurance providing cover for the outstanding balance of the individual’s home loan.
Average cover is R450,000, but policies can be taken out for a maximum of R3million. Premiums average R300 per R100,000 per month. High risk policy premiums can go up to R700.
After watching its average life expectancy drop to 51 since’91, the South African government launched a new AIDS plan with the goal of cutting new infections by 50 percent and bringing treatment and support to at least 80 percent of HIV-positive people by 2011.
With this change in its insurance industry, South Africa became one of only two countries worldwide where HIV-positive people could purchase life insurance. Some companies offering policies for this cover include AllLife, AtRisk, Old Mutual, Sanlam and Metropolitan.
Susan is the marketing director lifeinsurance-southafrica.co.za. South Arica’sleading Life Insurance portal
Tags: affordable life insurance, Business And Finance, Finance Insurance, insurance, life, life insurance
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Saturday, November 28th, 2009
Comparing insurance quotes is a task that many people today try to avoid. It can take hours to complete a few different quotes, and even then you’ll have to go directly to the insurance company. Instead of shopping around, some people just go with the first place they see or whatever their family has been using.
The problem with this approach is that you could be getting a very high rate compared to other insurance companies. The important thing that you must remember is that it’s possible to save a lot of money just by getting different insurance quotes. There are many different types of insurance and each one depends on its own factors. There are also certain numbers that you’ll want to watch out for when comparing insurances.
Car insurance is probably the first type of insurance that you’ll have to get. When you’re comparing car insurance you’ll have to decide if your vehicle is worth getting full coverage on or just collision. If you’re car is older than 6 years then you’ll most likely be looking at getting just collision. Also it’s important to note the amount of coverage that you’re getting. Some insurance companies may give you better rates but you’ll be knocked down to a lower tier of coverage. You’ll want to get the $100,000/$200,000 coverage in most cases however if your car is older and you have no assets then you may opt for the $50,000/$100,000 coverage line.
Renter’s insurance is for people who feel their property is at risk of theft, fire, flood, or other types of natural disasters. If you have valuable property you will want to get it covered so you don’t have to replace it on your own. On average, renter’s insurance is about $100 dollars a year for $13,000 dollars worth of coverage. If you have more than $13,000 dollars worth of property you should invest in more coverage. By shopping around you may be able to find better deals, but make sure you check to see what is actually covered.
At some point you’ll have to consider getting health insurance as well. Health insurance is another daunting task that you’ll have to take on. A lot of the time you’ll have to get health insurance and dental separate. There are some companies that will offer both health insurance and dental insurance together. When you’re looking for health insurance it’s important that you?ve decided on what type of insurance you want. It’s also important that you decide how much you want to be covered.
The normal for most people is an 80/20 plan where you only pay 20% of the cost of your medical bills. However this plan can still become expensive if you have to have surgery. In other cases you can get 100% coverage after a certain deductable. That is where you’ll pay the first $1200 in bills and then after that the insurance company pays for everything. While many people go through their work to get health insurance it’s sometimes more cost effective to find private health insurance.
Graham McKenzie is the syndication coordinator for a leading South African Insurance comparison portal, which includes the top insures like Dial Direct Insurance.
Tags: affordable life insurance, car insurance, finance, Household Insurance, insurance, life insurance, Money, personal finance
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Wednesday, November 25th, 2009
Life insurance, in one shape or another, has been around for centuries. Believe it or not, the first polices were crafted by the Chinese. In the mid nineteenth century, life insurance polices emerged in the United States, slowly influencing Europe and South Africa towards the last quarter of the nineteen hundreds.
Needless to say, life insurance did not necessary explode the second it hit the market. And it’s fair to think so. Even today, it’s not necessarily the most anticipated or exciting expense in the world. But ever so slowly, the insurance companies influenced people to invest in their family’s future.
By the twentieth century, insurance had started to grow into a demand. People wanted to get coverage, however there weren’t enough staff members to assist the demand. The offices were flooded and the insurance agents overwhelmed.
Insurance companies needed a way to expand. The idea, hire people to travel around the country and spread the word about insurance. These people would be knowledgeable experts who could provide insights on the policies. The idea stuck, and what became of it was insurance brokers.
People became comfortable dealing with brokers. They were open, friendly, honest, and compassionate towards the family’s needs. They understood the family’s concerns and created a policy right for them.
Brokers were all over town, taking time to discuss the benefits of life insurance to curious customers. People were signing up for policies left and right. They were impressed with the broker’s service.
Brokers were not only friendly and easy to chat with, but they also gained respect and integrity based on their knowledge and training in the insurance industry. People took into regard their objective advice and suggestions. They believed they understood which policy was best for them.
The lasting trust has continued throughout the years. Today, a lot of families continue to consult the same broker they’ve had for years. Their advice is invaluable and they really appreciate the personal attention.
However, brokers have “broken down” in a small way. The internet is taking the insurance industry for good. It’s definitely the way of the future. Getting quotes and receiving insights and tips is much easier online than it is with a broker. Unfortunately these friendly little men and women are no longer needed like they use to. A lot of brokers are realizing that, and jumping ship to the internet where they can provide their insights there.
Graham McKenzie is the content Syndication Manager at insurance123.co.zaSouth Africa’s leading Life Insurance information portal
Tags: affordable life insurance, insurance, life cover, life insurance, Money
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Tuesday, November 24th, 2009
OK, I know. You work hard to just to make some decent money and take care of your family. You save part of what you earn to pay for your kids’ college. You pay your bills in due time and takes your loved ones on vacation every year. But what would to you and your family if all of a sudden you had a serious accident? There are many answers to that question, but, as right as some may seem, there’s only one that really solves the problem:Income Protection Insurance(IPI).
Let’s suppose you suddenly got ill or hurt, in a way that would make it impossible for you to work. Wouldn’t it impact your (and your family’s) lifestyle? Maybe not at first, I admit. You’d have that money you’ve been saving. You’d just have to postpone your personal projects and dreams a little while longer, and starts saving once you get better. If it takes too long, you just start cutting expenses here and there. You sure can survive a few months without cable TV. And maybe your wife can come to enjoy the pleasures of life without a credit card. But what if it takes too long for you to get better? You know money takes long to save, but takes no time to be spent. Soon, your savings account will start to look terrifyingly empty. Then your kids will start to ride the school bus. Maybe they’ll have to transfer to a public school. You can also drive a cheaper car, or just take a bus. But there’s also the perspective of never getting better at all. And what will you do when you open your fridge and notice there’s almost no food in there? Getting worried won’t feed your kids. In moments like that, having an IPI could make all the difference in the world!
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Income Protection Insurance protects the worker from falling in the “zero income” limbo. The insurance companies actually pay up to 70% of the policyholder’s salary during the time he stays incapacitated. It means you’d still have to live without cable, but your wife would keep her credit card. And you’d better believe me when I say you will not want to try the opposite.
It’s always good to read your policy carefully when acquiring an IPI. Every policy specifies in detail what kind of injuries and diseases are covered, and some of the texts might be a little tricky. And you certainly don’t want to lose your benefit because of a minor technicality. You should also keep in mind that no insurance company in the world would pay a benefit if your incapacity resulted from fighting in a war, committing a crime, intentionally hurting yourself or consuming alcohol or drugs. Women should be extra careful, since most of the policies won’t cover anything related to pregnancy.
Inflation might also turn into a problem, a few years after contracting an IPI. Benefits tend to be eroded with time, and you should make sure the value of your benefit gets corrected periodically. Otherwise, you may find yourself receiving a lot less than you expected.
Some companies pay for their workers’ IPI, but if that’s not your case, syndicates and associations can also contract group policies for their members. Group policies are a good option, since the cost/benefit relation is a lot more attractive than those of individual policies.
Some IPI policies expire with time. Always remember to renew your policy, if that’s the case. It would be awful to find out your policy expired a week before you got in that little car accident.
If you’re willing to pay for an IPI, know the best benefit you will ever receive is the certainty that your family will be alright for as long as you live. Now, if you want them to be OK even after God invites you to his 5 O’clock tea in Heaven, you should also consider Life Insurance. But it’s something we’ll have to talk about one other day.
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Tags: affordable life insurance, consuming alcohol, Drugs, family, Income, Income Protection insurance, insurance, IPI, life insurance, Money, policy
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Friday, November 20th, 2009
Shopping for car insurance presents a lot of challenges for the first time buyer. However, there is one factor that is extremely important to settle on right off the bat. A car insurance deductible can end up being what saves someone from dumping their bank account when an accident occurs or what drains their monthly budget. Picking the right one is extremely important.
A deductible is what the insured will have to pay each year before their insurance company ever puts out a dime. For the most part, a lower deductible means that a higher monthly premium will have to be paid and vice versa. The car that is being driven along with monetary restrictions will play a huge part in exactly what type of deductible should be sought.
Most insurance sites will have their policies available right on the web. All of the details may not be there, but the gist of what they cover will be. Along with policy restrictions, there should also be an idea of how much each policy will cost along with the deductibles that are offered. While that higher deductible may seem attractive because of the lower premium, it may not be feasible to be covered if an accident were to happen.
The best policy for the insured will feature a deductible and premium that can easily fit into the budget. For instance, if the insured can absorb a $1,000 cost to have their car fixed with little difficulty, they may choose to go with the $1,000 deductible at $250/month instead of the $500 deductible at $325/month.
It may take a little work in order to be able to figure this out and the websites of the insurance companies can be a great tool to do just that. Many of the sites will have a deductible calculator of some sort where the shopper can enter a monthly premium range that they can afford and the different policies will automatically pop up. This is both convenient and useful when shopping for the best policy.
The Internet makes a great place to do all of this because of the ease of comparison shopping. Policies can be pulled up side by side and looked at. There are also plenty of sites that will allow the insurance shopper to put their information into one site and have all of the quotes delivered directly to their email address.
When people are first starting out with insurance, all of this can be a bit overwhelming. When the head scratching starts, do not be hesitant to go the “help” section of the website. If they offer a live chat, take advantage of it and get the answers right then and there. At the very least, an email service should be offered with a 24 hour response time.
Using auto insurance deductibles as the starting point can alleviate a lot of nonsense when it comes to trying to find the best insurance policy. There is no use in even looking at policies that do not fit into the budget and knowing how much can be afforded if an accident or car problems were to occur goes a long way in finding the best policy for your budget. Use the tools that are available on the Internet and shopping for insurance gets a lot easier.
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Tags: affordable life insurance, auto, business, car, car insurance, family, finance, home, insurance, legal, life, params, personal, variables
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Wednesday, November 18th, 2009
There are various types of life insurance plans available in today’s market. If you are shopping for a policy, consider the following two choices and examine each closely to determine which meets your needs at this time. There are other types of policies, but these are the most popular choices available.
A term policy provides a financial death benefit for a limited, specified period of time. If death occurs within the specified time limit, the beneficiary will receive the face amount of the policy. This is the least expensive life insurance policy to purchase and is available in a variety of forms. There can be a large variance in the premiums charged for a term policy, so it worthwhile to take the time to shop for term life insurance rates and confirm them with written life insurance quotes for the policies you are considering.
The second type of policy is a whole life policy. Whole life policies are policies that will provide coverage for the rest of your life, as long as the payments are made. This policy is more expensive then term life policies, becuase unlike term life policies whole life policies will definitley be collected. The benefit of a whole life policy is that there is usually a limit as to how long you have to make payments, and again, the coverage is guaranteed for your beneficiaries.
An ordinary life insurance policy requires that premiums be paid throughout the insured’s life. This would be a cheaper life insurance policy in that the premiums are spread out over many more years.
If you are still undecided about which type of policy is right for you, there is another benefit to choosing the whole life insurance policy. You can withdraw money from your whole life policy, or the policy can be used as collateral for a loan. If you withdraw money from the policy, and the policy is collected before the loan is paid back, then the outstanding loan amount would be dedcuted from the amount of the policy.
If you want to make sure your family is taken care of, if something were to happen to you unexpectedly, then it is time to purchase life insurance. If you have decided that you need a life insurance policy, then you need to understand the different types of policies before you can purchase the right policy for you.Term life policies provide coverage for your beneficiaries only during the duration, or term, of the policy. Term life policies are typically cheaper then a whole life policy, since the odds are greater that the policy will not have to be paid. Whole life insurance policies are more expensive, but they guarantedd coverage for your beneficiaries for the rest of your life.
If you want to purchase a cheap life insurance quotes log onto www.lifeinsuranceplace.com. Our site will allow you to compare life insurance plans for various companies and brokers.
Tags: accident, affordable life insurance, comparative, fast, health, life insurance plan, medical, premiums, quotes, term, whole life
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Wednesday, November 18th, 2009
Insurance shopping can be quite the hassle. With so many companies and providers to choose from, finding the exact fit for a particular set of needs could take quite a lot of time. With the use of the Internet and an online search, the ability to compare brokers and all their services is made both simple and easy.
By browsing each of the company’s websites for exactly what they offer, depending on the type of insurance needed, a comparison can be made between them very quickly. Many websites not only list their own rates and services, but comparable rates from other companies as well. These websites make the search for insurance even easier by putting multiple choices in a single place.
To compare brokers, one must simply first decide what type of insurance is needed. Whether it is car, home or life insurance, there are sure to be a wide range to choose from online. The more detail used in the search engine, the more precise the results will be, narrowing the choices down even further.
This then narrows the choices to exactly what the consumer is looking for and makes comparing the providers a bit easier. Once a list of providers is compiled, then sorting through them for the particular policy is the next step. This can be done on most websites by using their internal search engine, which will search only their web pages.
A rate comparison will be the next item to be addressed. Each of the websites will either have a list of their rates accessible there or a quote will be formulated and emailed once a few simple forms are filled out. These will ask basic information of the insurance policy holder and what type of insurance is being considered.
One tip when browsing multiple websites that these forms will be needed to be filled out on is to have the Auto Fill option checked on the browser. This will fill in the fields that may have been done on a different website after typing in only the first few letters. This will help save time and cut down on frustration from having to do this repetitively.
This is one way to compare brokers without having to deal with salesman directly and allow the consumer to shop at their leisure. This also allows for an informed decision to be made with having all the facts and figures right there. A smart consumer will take the time to look over all of the options and offers before making any type of purchase, particularly when it comes to insurance.
Purchasing insurance can sometimes be confusing to the average person. Many of the providers websites have a section that shows answers to frequently asked questions and for those that are not addressed there, an email address to send inquiries to. The contact information for many of these providers can be found either on the front page of their website, normally titled Contact Us, or in a link on the site map itself.
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Tags: affordable life insurance, auto, business, car, car insurance, family, financial, health, home, insurance, life, policy, quota, rate, vehicle
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Tuesday, November 17th, 2009
If you’re looking for a bargain, regardless of the items or services, then you’re like the majority of the population. This is the same for insurance as well. A question you should think about is, how to find low cost insurance. As boring a task as it may sound, it’s actually easier to find than you might think. Many people believe they have obtained the best coverage for their money, whether it’s for motorcycle insurance, automobile insurance, life insurance, homeowners insurance, and the list goes on.
However, that is the furthest from the truth. You might be faithful to your well-trusted insurance broker, and you might think you’re doing that agent a favor, but you also may not be benefiting from the cheapest insurance available. Therefore, it is up to you as a consumer to get motivated, and search for it on your own. On-line searching will save you incredible amounts of money.
It is absolutely true, although this may appear very difficult to believe. Finding low cost insurance can be attained in several ways. For example, you can speak to a customer service representative by making a phone call. The norm for making a call for quotes in this manner will take you about 20 to 30 minutes.
The best way to do a search is on-line. The only thing you need to do is type in your key phrase in the search area, and a list of providers in your neighborhood will be populated. Then you can click on the different corporations one by one. Another option could be to search for websites that are strictly committed to comparing multiple insurance companies.
The bottom line is, it’s your choice, regardless of the route you decide to take. There’s not a wrong or right away, but there is a faster way. Doing a search online will save you lots of time, rather than making a phone call.
Your reward, for seeking an on-line insurance company to insure your valuables, is going to save you plenty of money. Not many people know this, but you can get the same coverage you have now, but for a cheaper insurance quote. Wouldn’t you rather find something else to do with your money, than hand it over to an insurance company?
Furthermore, gaining knowledge about the insurance industry comes from making educated decisions towards meeting your goal. What causes a consumer to pay thousands of dollars in fees over the years, comes from the lack of not knowing more about the topic researched. Just to give you an example, did you know some professionals get discounts just because they’re a professional? You wouldn’t know this unless you did your homework. Just think of the savings you’re missing out on if you didn’t make an attempt to get your insurance reduced.
There are many savings that drivers can benefit from. Another example, besides being a professional, you may be someone who already has a good driving record, state-of-the-art alarms on your home or car, use one of your cars only on the weekends, just to name a few.
You can save on all types of insurance in many ways. The best way is to read as much as you can on the topic and industry you’re researching. With that said, be sure you read all the fine print before deciding to sign a contract. This will prevent penalties if you decide to cancel your existing policy.
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Tuesday, November 17th, 2009
When shopping for car insurance, there are a few deciding factors when choosing a policy. There is the initial cost, type of coverage and the deductible amount. Car insurance deductibles can range anywhere form $250 to $1500 depending on the policy and insurance provider.
The deductible is the amount of money that is paid out of pocket by the policy holder in case of accident or damage. Car insurance deductibles are normally found with collision and comprehensive style policies. The lower the amount of the deductible, the higher the monthly premium is that needs to be paid to the insurance company.
While visiting the insurance providers websites and browsing their policies, each one should have different rates for different deductible amounts listed right there. Choosing a policy with a higher deductible amount may be financially easier at the outset of a policy. However, if the vehicle becomes involved in a major accident, the high deductible may be more than is readily available to the average individual.
Car insurance deductibles can however be tailor made to fit in many standard policies offered by most insurance companies. By selecting an affordable policy with a reasonable deductible, the vehicle and the owner can be well protected and a little less worried about the “what ifs” if an accident happens. The average comp and collision deductible that many providers offer is about $500 on most policies of this type.
By visiting the insurance company’s websites, the deductibles can be figured out by using a deductible calculator (most sites have one available as a tool). This lets the consumer know how much the monthly premium will be along with the amount of deductible should anything happen. This helps them in fitting the proper policy in to their budget.
By using the websites as a tool for shopping for vehicle insurance, an easy comparison can be made between many different providers. A short online search brings all major and minor car insurance providers directly to the consumer. Many of the websites not only provide their own rates, but the rates of others for a side by side look at just which policy is most affordable for the customer.
As with shopping for any type of insurance, car insurance can be a little confusing to the average person. Many websites offer a question and answer section to help alleviate this along with and email address and phone number for more direct contact. More that one website has an online chat feature that allows the consumer to speak directly to a live support person instantly and get many of their questions answered immediately instead of waiting on an email or being on hold on the phone.
The time to do the research is time well spent as it will save money in the long run and let the consumer know exactly what their policy covers and how much it will cost them if an accident should occur with their vehicle. The Internet is one of the greatest tools in assistance of locating the proper and most affordable policy for each individual. With all of the information only a few clicks away, this makes for a pain free insurance shopping experience.
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