insurance worldinsurance worlda great blog about insurance. and i hope can help you to choose the prefect insurance. Articles
Plan may ease LI homeowners insurance crunch
2007-10-05 04:29:00 As a State Senate committee prepares to hold hearings on the Long Island homeowners insurance crisis, the state's top insurance regulator is offering a solution.Insurance Superintendent Eric Dinallo is proposing a regulation that would require companies to create a rainy-day fund to pay hurricane claims.Over five to 10 years, the fund aims to lower premiums and reduce nonrenewals, Dinallo said.Since early last year, a half-dozen insurance companies fearing large payouts from a major hurricane have been issuing nonrenewal notices to homeowners policy holders.Long Island residents have complained they have to hunt for new insurers and have experienced high premiums and big windstorm deductibles.State regulators estimate that insurance companies in New York collect $5 billion a year in homeowner premiums.About 5 percent, or $250,000,000, would be placed into a reserve fund each year to cover hurricane repair costs, they said.That percentage is the average percentage of a homeowner's ... More About: Plan , Crunch , Ease , Owners
Critics hit state auto insurance proposal
2007-09-03 00:46:00 The proposed rules for auto insurance competition in Massachusetts were met yesterday with skepticism from consumer advocates and caution from at least some insurers.State insurance Commissioner Nonnie S. Burnes on Tuesday proposed a system by which insurers will be able to set their own rates, but without the use of some socioeconomic factors like drivers' occupations or whether they own a home. The use of credit scores in determining premiums also is banned for one year, but insurers will be able to consider credit scores when deciding whether to cover individual drivers. Massachusetts is the only state in the country where the rates auto insurers charge are set by state regulators.Critics responded by sharply chiding Burnes for not going far enough to shield urban and poor drivers from higher costs. And while some Massachusetts insurers said the plan struck the right balance between giving consumers choice and protecting them, some out-of-state providers said the new rules merit... More About: Insurance , Proposal , Auto Insurance , Auto
Brooke Corporation to Transfer Ownership of Two Private Company Subsidiarie
2007-09-03 00:39:00 Brooke Corporation has agreed to merge its wholly owned insurance agency subsidiary, Brooke Franchise Corporation, into Brooke Capital Corporation . After consummation of the merger, Brooke Capital Corporation has agreed to acquire all of the outstanding capital stock of Delta Plus Holdings, Inc., a wholly owned non-standard auto insurance subsidiary of Brooke Corporation.Upon consummation of the merger and the acquisition, Brooke Corporation will receive 5.5 million shares of Brooke Capital Corporation common stock at closing. If Brooke Franchise Corporation and Delta Plus Holdings achieve certain performance benchmarks in 2007 and 2008, then Brooke Corporation could receive up to 2.5 million additional shares of Brooke Capital Corporation's common stock. As a result of the two proposed transactions and based on current levels of ownership, Brooke Corporation would own a minimum of 85 percent, and a maximum of 88.4 percent, of Brooke Capital Corporation's common stock.Brooke Corp... More About: Company , Transfer , Private , Rook
SUV Owners Pay More for Insurance
2007-08-08 15:34:00 Hortencia Privett is like thousands of other owners of Sports Utility Vehicles (SUVs). Privett admits that she loves what she drives, a silver 2002 Jeep Liberty, but insurance experts caution that she and other SUV owners have to pay considerably more for insurance than those tooling around town in smaller cars.The cost to insure an SUV is generally 10 to 20 percent more than a car, depending of course on a driver's location, claims experience, credit history and other factors, confirms Loretta L. Worters, vice president of communications for the Insurance Information Institute, in New York. "Yes auto rates for SUVs are generally higher than for automobiles," says Worters. "Rates of course correlate to risk -- and there are a lot of risk factors with SUVs. Not so much what affects them, but what they do to other vehicles."Cutting to specifics, Worters pointed out that an SUV's "potential for liability and medical payments coverage losses is a real concern to the industry. Pedestri... More About: Owners
Your credit score can affect car insurance bill
2007-08-08 15:32:00 John Rogers will be the first to admit that he's had some money problems.Someone digging through the 43-year-old salesman's credit history would see some unpaid bills on his account, a bankruptcy from 15 years ago when his son needed life-saving surgery, and even an Internal Revenue Service lien that still lingers."I've been working to improve it," said Rogers, who lives in Northeast Baltimore. "I'm able to go out and get loans and I'm no longer paying the 22 or 24 percent interest that I used to pay. I'm not the worst-credit person in the world and I'm not the best. But I don't see how it has any bearing on how I drive, though."Well, it doesn't - not technically, anyway. It does, however, play a role in how much you pay for your auto insurance. Insurance companies don't use your credit score to predict payment behavior. Some use the scores as a factor when estimating the number of, or total cost of, claims that customers are likely to make.Rogers found that out the hard w... More About: Credit , Car Insurance , Score , Bill
2 killed in 3 motorcycle wrecks
2007-08-08 15:23:00 Three motorcycle accidents over the weekend claimed two lives and left two others seriously injured, authorities said.Two of the accidents were on Route 80 in Parsippany and Allamuchy, while the third was on Route 15 in Sparta.In the first crash at 3:58 a.m. Saturday, Kire Talevski, 41, of Landing was heading west in a Route 80 express lane near mile marker 44 in Parsippany when he lost control of his 2007 Yamaha, state police spokesman Sgt. Stephen Jones said.Highway conditions at the time were described by police as wet and foggy.Talevski, who was wearing a helmet, was thrown from his motorcycle. He was found in the left shoulder; the bike came to a stop in the right shoulder, police said.He was pronounced dead at the scene at 4:31 a.m., police said.Hit guardrailIn the second crash at 6:59 a.m. Sunday, William C. Freeman, 55, of Staten Island, N.Y. was heading west in a right lane on Route 80 near mile marker 18.8 in Allamuchy Township when he lost control of his 2007 Harley-David... More About: Motorcycle , Killed , Wreck
Insurance During New Home Construction
2007-07-15 16:04:00 You should consider home insurance for your new home during construction. If you don't, you may be exposing yourself to a great deal of risk if a fire, theft, or other event damages or destroys your partially-completed home. One way to cover your new home during construction is by purchasing a standard homeowners insurance policy. This will cover you for any damage to the building as it's being built, and may also provide some coverage for theft of building supplies (although the contractor's insurance should also cover this). It also provides liability coverage, which may come in handy if one of your friends trips during a "tour" of your dream house and decides to sue you. However, the policy will not cover your personal property until the building is secure or "lockable." Once construction reaches this point, you can add on homeowners insurance coverage for your personal property.Another option is to purchase a "dwelling and fire" policy. This type of policy covers damage to th... More About: Insurance , Home , Construction , Const , Cons
Tips on Renting a Vacation Home
2007-07-15 16:02:00 Many travelers head off on vacation each year without giving any thought to their insurance needs. Are you one of them? You may think that you've planned your vacation down to the last detail, but there's always something that gets left behind. Don't let it be your insurance. What if the weather takes your vacation by storm?A big bad storm can huff and puff and blow the house down, but it's probably not your problem. Similarly, if faulty wiring in the house causes a fire, the owner of your vacation home will need to contact his or her insurer. But in certain circumstances, you could be held responsible for damages, so review your liability coverage before you go.It needn't be a total lossYou've been saving for months and planning the perfect getaway. But what if the luxurious beachfront home you've rented gets washed away with the tide, right in the middle of your vacation? Your vacation would likely come to an abrupt halt, but it doesn't have to be a total loss. You can pur... More About: Tips , Home , Vacation , Renting
Thinking About Remodeling?
2007-07-15 15:59:00 You may be looking for ways to improve your home. Perhaps you want to upgrade your heating system or replace a leaky roof. Or add on that sunroom you?ve always wanted. Before you get started, however, you'll want to know how that remodeling project can affect your insurance needs.Update your homeowners insuranceWhether you're updating your kitchen or adding on another room, a remodeling project will likely add value to your home. As a result, you'll want to check the property coverage limits on your homeowners policy to make sure that they reflect any changes you make to your home, no matter how small or large the improvements may be.And if you're adding on to your house, you'll want the addition specifically mentioned in your policy. If it's not, your insurance company may not provide coverage for damages that occur to the new room.If you hire someone to do the remodeling . . .If you hire someone to do the remodeling, you'll want to make sure that he or she is properly insur... More About: Thinking , Remodeling , Deli
New Homeowner Insurance Basics
2007-07-15 15:57:00 The lowest mortgage rates in more than three decades have fueled America's appetite for home buying and refinancing, driving new home sales to a record level . Buying a home can be an intimidating process, especially for first-time homeowners who may feel overwhelmed by the number of decisions they are faced with, including choosing the right insurance coverage to protect their property. Find out what you need to know to protect one of their most important assets. A home is often a person's largest asset and protecting it properly can be complicated. The unexpected can threaten people's homes or possessions and compromise them financially, making homeowners insurance an important consideration.Insurance .com developed the following guidelines to ease the process of choosing the right insurance for new homebuyers.First-time homebuyers may not realize that homeowners insurance covers more than just the structure of a house. It also protects the homeowner and generally anyone named o... More About: Meow , Basics , Homeowner
Hiring a Home Inspector
2007-07-15 15:53:00 You're thinking of buying a house. But how do you know whether you are buying a home in good condition or a money pit? You can go a long way toward getting an answer by hiring a qualified home inspector to scrutinize the property before you buy.Why hire a home inspector?If you're like most people, the purchase of a home will be your biggest investment by far. So, as with other big investments, you should be knowledgeable about what you are buying. Although you can examine the home yourself, most people simply don't have the expertise of a qualified home inspector. A good home inspector is knowledgeable about construction practices in the area and about what holds up over time. He or she will spot problems not apparent to an untrained eye, and will provide you with a full report on the condition of the property.What does a home inspection cover?You can expect a home inspector to report on the major components of a home, including:The structure of the house, including the foundatio... More About: Home , Hiring , Inspector , Inspect
Insurance Tips for Homeowners
2007-07-15 15:49:00 You've unpacked your things and settled into your new home. But have you thought about how this will affect your insurance needs? Buying a home involves more than just making sure you have homeowners insurance coverage. If you've recently purchased a home, here are some types of insurance that may be impacted by your recent move.Homeowners insuranceIf you have a mortgage, your lender probably required you to obtain some level of homeowners insurance coverage. However, you'll want to make sure that the amount of coverage that you have will adequately protect you for all possible losses. Homeowners policies set coverage limits for specific items (e.g., jewelry), so you may want to look into purchasing a separate endorsement or a floater if you feel that you need to increase your coverage. You also need to know if you have "replacement cost" coverage on your personal property and if you are covered for earthquake damage.Flood insuranceHomeowners insurance does not provide coverage f... More About: Insurance , Tips , Meow , Owners
Should I Install a Home Security System?
2007-07-15 15:47:00 Not so many years ago, a fail-safe home security system consisted of a good lock on the door, a large family dog, and perhaps a baseball bat propped up in the umbrella stand. Today, most locks can't keep experienced burglars out, fewer people can keep big dogs, and baseball bats provide little protection against well-armed intruders. More and more homeowners--and even apartment dwellers--are investing in home security systems to deter criminals, provide home protection, and give them peace of mind. If you're wondering whether to install a home security system, then consider the following questions:What are you trying to protect?If you live alone with little more than a television and some furniture, and have little concern for your own personal safety (perhaps you have a black belt in karate), then your home security needs may be nil. If, however, you have children and/or other family to protect, you fear for your own personal well-being, and/or you own expensive antiques, art, je... More About: Security , System , Home , Stem
Hurricanes: Are You Protected?
2007-07-15 15:46:00 Hurricanes can wreak tremendous damage, devastation and death on a community. If a hurricane warning is issued, homeowners can board-up their houses and try to minimize the damage. But what if a storm damages their home regardless?The most common homeowners policy - called a homeowners-3 policy or HO-3 - covers damage caused by a hurricane except for exclusions specifically outlined in the policy. For example, damage caused by hurricane flooding is usually not covered. Since policies vary, Insurance.com suggests homeowners review their policies before a storm hits to determine what would be covered.For anyone whose home may be damaged by a hurricane, Insurance.com offers the following tips to help get back on their feet.Secure the building with temporary repairs - Fix whatever is needed to make the home habitable and prevent further damage. Be careful not to invest in extensive repairs at this time, as an adjuster must appraise the damage first. Save any receipts so that your insura... More About: Hurricanes , Cane , Prot , Hurricane , Canes
My house burnt down; will my homeowners insurance pay off the mortgage?
2007-07-15 15:45:00 If fire destroys your house, a burning question might be whether your insurance would pay off the mortgage. Chances are the answer would be yes. However, there's a lot more to it than that.With that in mind, a hypothetical was brought up by American Insurance Association assistant general counsel Eric Goldberg. "Let's say you bought the house 20 years ago for $200,000 and at the time of purchase you obtained a homeowners insurance policy with $190,000 in limits, which is less than the property's total value because you don't buy coverage for the value of the land," Goldberg began. That house has appreciated in value considerably since the date of purchase, he said. Building costs, materials and other costs have gone up."Let's say you haven't increased my policy limits since the day you bought the house," Goldberg added. "If that's the case, you probably don't have sufficient coverage." What should a homeowner do to avoid facing such an unpleasant situation? "It would behoove... More About: House , Mortgage , Gage , Meow
It's Time To Tie The Knot! But What Kind of Insurance Do You Need?
2007-07-15 15:44:00 The ring is on her finger, plans are being made, and the time to tie the knot is approaching - and though most engaged couples focus mainly on their big day, they should also be taking a look at their current insurance policies to be sure their possessions, as well as their soon-to-be spouse, are taken care of.Insurance .com suggests engaged couples review their health, life and homeowners insurances before they hit the honeymoon-so there's smooth sailing on their road to life together when they return.Health InsuranceWhen it comes to health insurance, married couples tend to have less expensive insurance policies than individuals. With that being said, compare your policies and see if there is a difference in monthly premiums, deductibles, co-payments, and any other additional features you may have. In doing so, you can see which health insurance plan is more cost-effective, offers you more for your money, or may offer better features, such as dental and vision.It is more difficult... More About: Time , Knot
Your New Year's Insurance Resolution
2007-07-15 15:42:00 Throughout the year, changes in circumstances and responsibilities typically occur. A new baby, pay increase, higher monthly expenses, or a recent move may happen, and with these changes comes the need to reevaluate your car, homeowners and personal life insurance coverage - especially in the New Year !"Insurance .com recommends that life insurance policyholders make taking a more active role in managing their life, homeowners and car insurance coverage a New Year's resolutions this year," said an executive at Insurance.com, the online insurance resource. "They can start by understanding their policy needs, and then begin to shop around and compare their current rates with other insurance providers."Life Insurance Resolution Adequate coverage is a must. It is important that policyholders understand how much coverage they need to protect themselves, as well as their families. When the New Year rolls around, reevaluate your current life insurance plan, and see if it is good enough to pr... More About: Solution
An Overseas Traveler's Guide For What Insurance They Need
2007-07-15 15:41:00 There's nothing like the feeling of excitement when you're going on an overseas vacation. The red X's on the calendar boldly show the countdown to your trip. Your bags are packed, your tickets are ready, your passport is ready for its stamp, and before you know it, you'll be on your way! But what happens when you get to your destination and the unthinkable happens? What if weather makes your trip too treacherous to chance? You end up getting sick? You get pulled over or your baggage is lost? Insurance .com has a few suggestions as to what you can do to make your trip as smooth as possible, even when the unthinkable happens.What to check before you leave:Health Insurance: In most cases, health insurance plans do not extend outside of the United States, so it is a good idea to check with your insurance provider and see exactly what your coverage entails.Car Insurance: If you are going to be renting a car and driving when you go overseas, it is a smart idea to apply for an internati... More About: Guide , Seas , Overseas , Guid
A hurricane hits and causes my house to flood. Does my homeowners insurance
2007-07-15 15:40:00 Homeowner insurers get flooded with claims over property damage caused by rising waters, and underwriters usually turn them down. The Hurricane Katrina experience, among other things, served as a reminder to consumers that homeowner policies exclude flood exposures.Worried about possible floods where you live? If so, buy flood insurance from the National Flood Insurance Program (NFIP), advises Lynn Knauf, director of personal lines for the Property Casualty Insurers Association of America (PCI), in Des Plaines, Ill., and Dr. Robert Hartwig, chief economist of the Insurance Information Institute (III) in New York."Consumers typically can buy flood coverage through their insurance agent," Knauf adds. "With few exceptions, virtually anybody can purchase the coverage." She warns consumers that they might be lulling themselves into a false sense of security if they see no need to buy flood coverage because they reside in locations that are not prone to floods, hurricanes and other natura... More About: House , Hits , Meow , Ouse
Can my credit score affect my home insurance premiums?
2007-07-15 15:39:00 It pays to have a good credit history. Case in point: Home owner insurance companies tend to give their better rates and terms to consumers who pay their bills and loans, in full, on time. A number of homeowner insurers weigh your credit history in making underwriting decisions, confirms Selective Insurance spokeswoman Cynthia B. Heismeyer who explains why."Insurance scores, based partially or wholly on your credit information, help insurers assess risk and charge the appropriate rate based upon that level of risk," observes Heismeyer, Selective Insurance`s assistant vice president of corporate communications."Statistically, it has been proven that people with poor insurance scores are more likely to file a claim," notes Heismeyer. "Historically, homeowners rates had been based on the characteristics of the structure itself. The insurance industry is now shifting the focus to include characteristics of the occupants, and insurance scores are one of those factors."Heismeyer says that ... More About: Credit , Score , Premium
How Long Does an Insurer Have to Pay My Claim?
2007-07-15 15:37:00 How long does an insurance company have to pay on a theft (for my renters insurance)? Are there laws stating a certain period of time that a company would have?Your state has some form of regulation that defines what is acceptable conduct in the insurance industry. Many states have enacted an "Unfair Insurance Practices Act" or an "Unfair Claims Settlement Practices Act", or the regulations may be found in a broader law that encompasses all trade practices. The specifics of these regulations vary widely from state to state, but, generally speaking, an insurer is required to:(1) acknowledge your claim within a certain time frame, such as 15 days,(2) investigate your claim promptly, and(3) make a good faith attempt to process a prompt, fair, and equitable settlement of claims in which liability is reasonably clear. Additionally, an insurer may not refuse to pay your claim without a valid reason.If you feel that your insurance company's agent or claims adjuster has violated your state... More About: Long , Sure
Protect Yourself When Renting Your Home
2007-07-15 15:32:00 You absolutely have insurance issues to consider when renting out your home. As you might have guessed, rental property owners have some unique insurance needs. A standard homeowners policy isn't appropriate for rental property, because:(1) you don't need to insure the contents of the house, unless you provide furnished accommodations;(2) you need to be more concerned about liability issues; and(3) you need to protect yourself against the loss of rental income. Your tenants may purchase renters insurance, but even if they do, it won't provide any coverage for you as the owner of the property.Fortunately, there's a policy designed especially to meet the needs of rental property owners. Most insurers who deal in commercial insurance can sell you a policy specifically for rental property. However, there are many variations among rental property policies. Some provide replacement cost coverage, while others only insure property on an actual cash value basis. Some policies only provi... More About: Home , Renting , Prot
Early Intervention Can Help Cut Disability Costs
2007-07-14 16:45:00 Sun Financial Life, an international wealth management and insurance company, and the Integrated Benefits Institute (IBI), a non-profit benefits research organization located in San Francisco, states that employers who intervene soon after employees are first disabled can help them return to work faster and happier, while cutting disability-related costs.An IBI study of Steelcase, a Michigan manufacturer of office furniture, showed that worker satisfaction shot up 48 percent from 1997 to 2001 after the company introduced a disability management program that integrated aspects of workers compensation, short and long term disability, and the federal Family Medical Leave Act.Employers who move quickly to communicate with and accommodate their disabled workers can help them return to work 20 percent faster, according to Sun Life's study, ?Earl y Intervention Programs Can Speed Disabled Employees Back to Work.?The reason Steelcase decided to try a program like this was because many emplo... More About: Disability , Vent , Costs
Coping with Springtime Allergies
2007-07-14 16:42:00 If you're like most people, springtime is a welcome visitor after dealing with the snow, sleet, and ice of winter. However, for allergy sufferers, springtime isn't always something to look forward to. Flowers start to bloom, grass and weeds come back to life, and allergy season kicks into high gear. You know the symptoms:1. Itchy, watery eyes2. Runny nose3. Sinus pressure4. Sneezing5. HeadachesWhere do they come from?One of the most common seasonal allergies is hay fever. The culprits that cause this allergy are allergens such as ragweed, pollen, and grass. Many people also suffer from allergies to pets, dust, and certain foods, but typically these allergies are not affected by seasonal changes.What's age got to do with it?You may be surprised to learn that allergies can surface at any age. If you've made it through your 30s, 40s, or 50s allergy free, you may think that you're in the clear. However, just as children can outgrow their allergies as they get older, adults can deve... More About: Allergies , Springtime , Coping , Ping
Lack of Dental Benefits for Low-Income Children is a Serious Problem
2007-07-14 16:39:00 A striking disparity in dental disease based on income can be seen within low-income children versus children who come from more affluent families. In this country, children, minorities and the elderly are said to have the worst oral health, due in part to a lack of dental insurance. In fact, about 108 million Americans do not have dental insurance, according to ?The Surgeon General?s Report on Oral Health.?Recent research findings have linked oral health infections to diabetes, heart and lung disease, stroke and low-birth-weight babies. In the long run, serious dental problems in children can lead to lack of self-esteem, long term stress and depression, and may also interfere with normal, everyday functions, such as eating, breathing, swallowing and speaking.Tooth DecayTooth decay is the single most common chronic childhood illness. Children in families living below the poverty levels ($18,850 being the annual income for a family of four), have more severe and untreated tooth decay... More About: Dental , Income , Problem , Benefits
It's Time To Tie The Knot! But What Kind of Insurance Do You Need?
2007-07-14 16:38:00 The ring is on her finger, plans are being made, and the time to tie the knot is approaching - and though most engaged couples focus mainly on their big day, they should also be taking a look at their current insurance policies to be sure their possessions, as well as their soon-to-be spouse, are taken care of.Insurance .com suggests engaged couples review their health, life and homeowners insurances before they hit the honeymoon-so there's smooth sailing on their road to life together when they return.Health InsuranceWhen it comes to health insurance, married couples tend to have less expensive insurance policies than individuals. With that being said, compare your policies and see if there is a difference in monthly premiums, deductibles, co-payments, and any other additional features you may have. In doing so, you can see which health insurance plan is more cost-effective, offers you more for your money, or may offer better features, such as dental and vision.It is more difficult... More About: Time , Knot
Do Your Homework When Buying Group Health Insurance
2007-07-14 16:34:00 With any group health insurance plan that you choose, there are always going to be limits to that plan, and before you purchase a particular group health insurance plan for your company, you will want to do your homework. For instance, you will want to find out what is offered and covered under the proposed group health insurance policy and if the health insurance company is financially sound. If they are in the midst of a merger for example, or not as financially stable as you would like, their delivery of service may not be as good as is promised.It is also important to understand what kind of features and benefits will be provided in the health plan that you are buying. In some cases, a group health insurance plan will be presented with a summary of benefits, but this is just a summary. For complete details as to what the plan consists of, or to get information on the exact ins and outs of the plan, you will need to request the information from your health insurance representativ... More About: Health , Buying , Insurance , Homework , Health Insurance
Are your parents adequately protected against fina...
2007-07-14 16:31:00 Are your parents adequately protected against financial loss? What if your parents' home burns down and there is insufficient insurance to cover the entire loss--can they come live with you? What if one of your parents is held liable for someone's injuries, but does not have liability insurance--will he or she be financially ruined? What if a parent becomes seriously ill and needs long-term care--will he or she have the financial resources to pay for this contingency? What if one of your parents dies unexpectedly--will the surviving parent have enough money to live on?If you're a member of the baby-boom generation, your parents may be of an age where these concerns may be troubling you. The only way to get the answers and ease your worries is to have a heart-to-heart talk with your mother and father. This may not be easy for some people, but if you shy away from this topic, the consequences could be devastating. Your parents were there to talk to you about the tough issues--now y... More About: Parents , Prot , Fina , Parent , Pare
Group Life Insurance And Your Small Business
2007-07-14 16:28:00 In order to retain hard-working, top-notch employees, it is important to offer a variety of benefits to help sweeten the pot and entice them to stay at your business. That is why offering group life insurance to your small business is a good idea. It's not only a good supplement to existing individual life insurance, but it is also cost-effective and inexpensive when compared to an employer paying for medical or a retirement plan.How to startGroup life insurance isn't generally offered to companies with less than 10 or 15 employees, and when it is offered, it is offered as a part of a "menu" plan. This just means that there are different employee benefits, such as group health, group life, or group long-term or short-term disability that employees may be able to add on to their current group health insurance plan.An independent insurance broker is typically used with businesses consisting of less than 1000 employees. This broker may recommend group health insurance coverage that p... More About: Business , Life , Insurance , Small Business , Small
Things To Consider Before You Sell Your Life Insurance Policy
More articles from this author:2007-07-14 16:25:00 Everything has a price and when you need money, selling your life insurance may sound like a good idea?especially if you are extremely sick because you can generally get anywhere from 50 to 80 percent back off the face value. However, although it may sound like a viable option, it?s important to keep in mind why you bought the life insurance policy in the first place!Things to considerWhen a viatical company is interested in buying your life insurance policy and they know you are ill, they will demand access to your medical records. Ultimately, the buyer makes the most money off of your policy the longer you are expected to live. Any and all details about your medical history and condition will be run over with a fine-toothed comb. Don't forget, they will keep track of your progress, many times using little to no discretion, by calling you on the phone, mailing out postcards, or getting in contact with you through a pre-determined means of communication. To sum it up, anyone (credi... More About: Life , Insurance , Policy , Life Insurance 1, 2, 3, 4, 5 |
|
 |
|
 |
