Travelers Insurance Dog Commercial (very funny)

We bought the wrong horse! Hilarious insurance commercial...

What is ment by term life insurance?

Chart Of Life Insurance
http://en.wikipedia.org/wiki/Life_insurance


 

Fundamental Information About Life Insurance - Which is Best? Whole Life or Term Life?

An easy example of which to choose is based on a very hard to answer question. How long do I need the protection? One very basic thing to understand is that life insurance is not an investment, regardless of what an insurance agent tells you. Life insurance is for protection and protection only.

The two primary reasons for the purchase of life insurance is because of love or debt. You either love someone or you owe someone. Whole life is for your whole life. Term insurance is for a "term" period.
Here are some basics of whole life.

Whole life is the right solution if you're looking for permanent life insurance that will produce guaranteed cash value. This product is ideal for an initial life insurance purchase, to cover a child or grandchild or to assist in business situations. The cash value of this policy is accessible when you need it, such as an emergency or an unexpected opportunity.

Whole life provides a guaranteed premium, death benefit and cash value. Your premiums remain the same and are paid until age 90. Many whole life policies also will pay dividends which can be used to reduce premiums or to add to the cash value.

Whole life contracts offer guarantees such as nonforfeiture options.

Nonforfeiture Options

To protect yourself if you are ever unable to pay your policy premiums, you can choose one of our four nonforfeiture options.

o Automatic Premium Loan: Needed money is automatically borrowed from the cash value to pay overdue premiums and interest is charged until the loan is repaid. If this option is not elected, or if the cash value will not cover the premium amount, the nonforfeiture option will default to Extended Term Insurance.

o Extended Term Insurance: This keeps the full death benefit in force by using the cash value of the policy to purchase Extended Term Insurance.

o Paid-Up Insurance: This option will keep some level of protection in force by using the policy's entire cash value to purchase paid-up whole life insurance. The face value of the paid-up insurance will be less than the face amount of the whole life. The paid-up policy remains in force until the insured dies.

o Cash Surrender: The policy can be surrendered for the accumulated cash value. Any outstanding loan balance and accrued loan interest will be deducted from the cash value.

Other contractual benefits available are:

o Waiver of Premium: This provision waives the payment of all premiums that come due during the disability of the insured person. Most policies require a six month waiting period before the benefit begins.

o Indexed Protection Benefit: This benefit allows for an increase in the death benefit, it is generally tied to the Consumer Price Index (CPI).

o Additional Purchase Benefit: This benefit guarantees the ability to purchase additional insurance at future dates or events such as marriage or the birth of a child.

Term life insurance can offer benefits as well but they will be limited to a specific period of time. In deciding which policies to purchase consider how long the benefit may be needed to complete the desired need.
Term insurance is for a period of time, whole life insurance is for your whole life.

Bill Broich helps seniors with retirement planning. Visit his website for additional information: Free Annuity Booklet.

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Term Life Insurance or Whole Life Insurance: Which Should You Opt for and Why?

Term Life Insurance or Whole Life Insurance: Which Should You Opt for and Why?

What is life insurance? What is term life insurance? What is whole life insurance? Which one should I opt for? Which is the better one? These are common questions an amateur investor on the insurance front faces. The key thing to remember is that the purchase of term or whole life insurance not only depends on your individual financial goals but also on the financial wants of your family. In both forms, the policy holder's beneficiaries, i.e. loved ones, get a lump sum payment on the policy holder's death. This payment is called the death benefit. Let us understand each form below:

Term Insurance:

In term insurance, the policy holder's beneficiaries get a substantial payout in the event of the sudden demise of the policyholder, within a stipulated time period. In the event that the policyholder does not die within the given term, then the person does not receive any kind of payment from the insurance company. Hence the premiums for a term insurance are very low while the payouts are quite substantial.

Is Term Insurance for you?

Term life insurance is ideally designed to ensure that people who cannot buy a complete life cover can also avail protection for their loved ones. The low premium ensures that you can afford insurance and hence protect your family in unforeseen circumstances.

If you are in your thirties, have young children and are the sole bread winner, a term plan would be ideal for you to help your family in your absence. You can choose the term to cover the time period till your children start earning and become self-sufficient.

Whole Life Insurance:

Also known as a universal cover, this category is designed to not only pay the policy holder's beneficiaries in the event of his/her death but also to provide a lump sum payment to the policy holder at the maturity of the policy or at the policy holder's retirement. Thus this form of insurance ensures the policyholder with life benefits, peradventure the policyholder does not die till the maturity of the policy.

Should you opt for Whole Life Insurance?

If you have the financial bandwidth, then whole life insurance is the best option for you. Here it not only protects you but also ensures that you build a cash portfolio for your retirement which can aid you in your golden years.

Hence while you stand on the brink of buying life insurance, here are some questions you need to ask yourself so as to make a sound decision of choosing the right policy for yourself.

• Your age
• The age of the loved ones you want to cover
• Family expenses today
• Future family expenses
• Your current health
• Your retirement plans

Author is an Insurance agent with a Leading insurance Company in India.

Article Source: http://EzineArticles.com/expert/Ishana_Chaudhary/2306945

Insurance Scams Fail Compilation Insurance Fraud Examples

Sh! Your Insurance Company May Be Spying on You!

Inside story about auto, workers comp and other accident insurance claims

So here's the scoop in regard to your auto, workers comp, disability or any policy that includes accident coverage.

Insurance companies, if you do not realize, are not willing to lose money. In fact, the real agenda behind being in business is to make money in the way of profits. Now, because related studies demonstrate the presence of significant insurance fraud - something that amounts to the tune of about $30 million in losses for the industry that is passed on as well as to the customers - insurance providers in general choose to do as much as legally permissible to thwart false claims related to liability.

To that end, the industry invests quite highly in several means that monitor a claimant's activities so as to verify the accuracy and validity of an injury call. Though the vast majority of those bringing a related claim honestly suffer from the injury that is cited, as a preventive course, anyone is subject to suspect.

After you submit a claim, your insurance company may do one or more of the following:

• Search your social media accounts for any reference to your accident
• Scrutinize your medical records to see if there are any inconsistencies
• Interview witnesses of the accident
• Speak to your employer to hear his take on your work activities and how it relates to your injury
• Hire professional investigators to spy on you and gather any evidence that indicates you are lying

Insurance sources will be on the lookout for any contradictory evidence. For instance, if you say your leg has been broken and investigators check in with your tweet about running in your kids' school-sponsored picnic race that features you winning the gold star after crossing first in the finish line, you will definitely find yourself in real hot water!

Of course, for the honest claimant, there should be nothing to be afraid of in regard to ongoing insurance inquiries. Nonetheless, it's important to go by the guidelines listed below:

1. Be as accurate as you can when describing your injuries in the claim, as well as when you describe them to family or friends
2. Don't post claim info online in full view of public's eye
3. Follow doctor's instructions regarding limited physical activity

For more about auto injury and workers comp claims, contact a qualified and experienced independent insurance agent that deals with many of the leading underwriters in the industry.

Providing all forms of nationwide coverage, including NJ cheap auto, low quote commercial umbrella, Houston, TX property, flood,, NY renters, PA homeowners, bonds, NJ workers comp, life insurance and more, PRIME Insurance can be reached by visiting https://www.primeins.com/ or by emailing PRIME@primeins.com or calling 732-400-5242.

Do you think insurance is really a waste of money in the long run?

The Skinny on Insurance

I wanted to discuss some miscellaneous insurance products. You will find that you have some hidden insurance costs that can be eliminated and put more money in your pocket for your debt reduction.

Insurance attached to purchases

There are insurances offered, at time of purchase, to cover service contracts that are supposed to cover repair costs for phones, appliances, automobiles, etc. First, aim to search your purchase and loan papers to find and cancel the unnecessary coverage you have. One life example I have is of my grandmother, who bought a washer from a major store, and paid for the warrantee for 20 years! She got her service calls "free", but paid for the washer 5 times over! Your second aim should be to habitually refuse buying high-priced gimmick insurance no matter the sales pitch.

Insurance attached to loans

There are a lot of names for this insurance: credit life, credit disability, mortgage life and charge guard. These extended warrantees are attractive because if the manufacture's warrantee expires, this extended warrantee covers your needs for repair. There are limitations, conditions and loopholes in the fine print. It is a potential rip-off. Often, service contracts are prepaid, so the dealer gets your money long before you need the service. You may end up paying 40% more on your automobile! The list of what is NOT covered is long. Check the fine print and see for yourself.

Cancel your extended warranty and get a refund. You can do this by placing your request in writing and include vital information such as the loan number and date purchased. Ask for the refund, or request that one or more payments be knocked off of the end of your loan, equal to the amount of the unused portion.

Flight, accidental death, student accident insurances

Do not waste your money on these offered policies. If you need life insurance, buy term life. It will pay regardless of how you die and dollar for dollar is a much better value.

Flight Insurance pays if you die in a plane crash. Over-priced specialty insurances are a waste of money. If you need life insurance, buy term, it will pay regardless of how you die and dollar for dollar is a much better value.

Free accidental death and dismemberment insurance usually will pay $1,000 or so if you die or are maimed in an accident. Sounds like you have nothing to lose, but by taking this coverage, you are subjecting yourself to endless sales pitches, telemarketing and direct mail to try to sell you increased limits of this worthless coverage.

Student accident policies offered through your child's elementary or secondary school usually runs $30 a year for school hour's coverage and around $150 for coverage around the clock. Specialty coverage like this only pays for certain accidents and is usually a secondary coverage, paying only what your regular health insurance does not. You cannot collect twice for the same malady, so what you are essentially insuring is part of your deductible, a big financial no-no.

Hospital indemnity

Hospital indemnity pays you a set amount per day-usually around $100 if you have to stay in the hospital. Premiums run a few hundred dollars a year. Adequate medical insurance should cover hospital expenses, so you won't need to pay for this as an extra expense.

I hope you will take the strategies for insurance that I have been sharing with you and use them together to create one comprehensive, low-cost insurance plan. A typical family of four can easily pay as much as $6,700 on the myriad of apparently logical insurance options available. By applying the strategies I have shared with you, my typical clients cut their insurance costs to $2,030, giving a savings o If you're like my average client, you could potentially save $4,610 which you could then redirect to your accelerator focus fund.

I strongly challenge you to now apply all of the insurance strategies I have shared with you. Obtain at least 10 quotes from 10 different insurance providers. Move your insurance coverage to whichever "A rated" company offers you the lowest premium. Although this can be a very time consuming process, the savings will be well worth the invested time.

Immediately apply the savings to your accelerator focus fund and power your way to debt and financial freedom!

[http://www.bradgillies.com]

Article Source: http://EzineArticles.com/expert/Brad_Gillies/1503883