Posted by Alexander Murphy on Jul 22, 2010
You may not realize it, but those two times you paid your credit card bill late may mean you’re paying more in auto or home insurance premiums today.
Insurance companies set premiums based on their perceived risk for covering you. To do this, they look at many factors — and your credit history can be one set of factors in insurance risk scoring. Insurance companies believe that people who pay their bills on time may be less likely to file a claim.
Therefore, the same behaviors that hurt your credit score (late payments, payments in collection, too many accounts, being close to your credit limits, etc.) can also lead to higher insurance premiums.
Of course, until recently, credit card companies have not made it easy for cardholders to stay on top of their bills.
That all changed on July 1. Cre
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Tags: Home Insurance, Insurance
Posted by Ryan Rogers on Jul 09, 2010
Business owners really need insurance to protect their investments and valuable assets, especially if it is a small business, because there are numerous factors that can ruin the enterprise and turn all of your efforts into nothing overnight. Business itself in essence is connected to a lot of risk, but when a small business uses loans and credits for day-to-day operations, any financial loss no matter what causes it may be devastating both for the business and the individual behind it.
Looking at all the risks involved it is evident that insuring a business is a must. Small business owners need special protection in six key domains that pose special risk for any enterprise: property, liability, worker compensation, autos, theft, and capital. There are other domains such as errors and omission that require additional security as well.
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Tags: Insurance, Small Business
Posted by Alexander Murphy on Jul 07, 2010
When it comes to insurance, most people think about the basics – health, life, home, auto. Some people consider disability insurance as well. However, most people don’t think that they’ll need alien abduction insurance, and most men don’t think about getting paternity insurance. But these insurance policies are real. Here are some of the bizarre things you can actually get insurance coverage for:
Alien Abduction
If you are concerned about being abducted, against your will, off the planet Earth, you can purchase insurance that might help compensate you for the psychological and physical damage you experience. You can get coverage for a relatively low amount ($25 to $50 for a lifetime policy), and the payout can be up to $10 million. Of course, if you do make a claim, you are likely to find that the payout is $1 to $5 a year – for the next 2 million to 10 million years. Make su
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Tags: Insurance, Things Insurance
Posted by Ryan Rogers on Jun 15, 2010
Windsor, Conn., June 16, 2010 – African Americans place greater emphasis on the goal of having adequate life insurance and are twice as likely to consider purchasing life insurance for themselves or for someone else in the household compared to the total U.S. population, according to a new LIMRA study.
“LIMRA’s research on the various ethnic and racial groups in the United States indicates that while these consumers have similar needs for financial products as compared to the general population, the strategies for reaching out to them are different,” said Nilufer Ahmed, senior research director, LIMRA Markets Research. “Our findings indicate that African Americans are more receptive to buying life insurance today than in the past and that they have a more positive attitude towards life insurance companies and their field representative than the general population.”
The report compares the financial goals of African Americans to the general population and found that the top three goals — having enough money for a comfortable retirement; having adequate health insurance; and paying off debts such as student loans, credit card debt and mortgage – are the same. However, African Americans place more importance on having life insurance and having a plan to replace income if unable to work than the general population.
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Tags: African Americans Place, Americans Place, Insurance, Life Insurance
Posted by Ryan Rogers on Jun 13, 2010
This is one of the more difficult questions to answer. If you were to ask an insurance agent, the answer would obviously be the largest number he or she thought could be mentioned without you fainting away. For anyone earning commission on a sale, the biggest sale is always the first suggested. So how should you approach your own answer? Well, this is as scientific as crystal ball gazing. You are trying to guess what is going to happen to the amount of your current debts, the actual needs of your dependents over time, and value of money as inflation takes it toll. Since we all hope to live until we are at least seventy, this can be projecting today’s values into complete unknowns. Just think how much society has changed over the last fifty years – $100 in 1960 was worth approximately $734 in today’s money, i.e. there has been inflation of about 4%. In in
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Tags: Insurance, Insurance Quotes
Posted by Alexander Murphy on Jun 03, 2010
The new health care reform legislation will require all Americans to buy insurance or face penalties if they refuse. Well, almost every American. The bill allows some religious exceptions for Americans opposed to buying health coverage for religious reasons. It contains language similar to the existing “religious conscience” exemption to laws that require workers to pay taxes for Social Security and Medicare.
This exemption was originally designed to only apply to the Old Order Amish. The Amish do pay other taxes, but resisted Social Security and Medicare, which they argued were forms of public insurance that go against their religious beliefs.
Can members of other religious groups can use this same exemption? It seems that the answer is no. Christian Scientists, for example, believe in spiritual healing, though not all believers object to all medical care or to buying health insurance.
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Tags: Insurance
Posted by admin on Feb 21, 2010
Most people have health insurance of more than one plan and this is why insurance companies do not want the insured persons to benefit from their health insurance. When we say more that a plan may be that both spouses are employees covered by health insurance plans group. Therefore, to avoid double recovery, most health insurance plans have had to find out how the coverage of primary and secondary schools to do.
Most primary coverage is usually given by a plan that a person is a member of the plan or where a person has been the Member of the longer time period. When it comes to spouses who are covered by their respective employers, primary coverage is given under the plan provided by the employer of each spouse. Secondary health insurance plans provide coverage for a person as a dependent of another person under the insurance plan.
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Tags: Health Insurance, Insurance
