Understanding The Features Of Your Car Insurance

It is a common notion amongst people to believe that choosing a car insurance is as straightforward as choosing the right car, when buying a car. The fact is that car insurance can actually be pretty complicated. Many people simply nod their head and make their monthly insurance payments but they don’t really understand what their coverage offers them.

Car Insurance Basics

Liability coverage is likely to be offered when you buy your car insurance. This is the basic coverage that you will find with any insurance policy and basically what this coverage does is pay for the bodily injury and property damage that is caused to others involved in the accident that you are at fault for.

Medical bills and lost wages are taken care of by the bodily injury coverage while property damage will cover up for the repair or replacement of the property that you damaged. This coverage does not pay for the damage that happens to you or your vehicle.

Liability insurance is often broken down into numbers such as 20/40/10, which means that your coverage includes $20,000 in bodily injury, $40,000 in bodily injury per accident, and $10,000 in property damage coverage.

The difference between collision (or comprehensive) coverage and liability coverage is that the former will repair your vehicles as well as the vehicles and people that you hurt in the accident caused by you. With this type of coverage you won’t be able to receive more than the value of your car, but you will get something to put toward repairs or replacement of the vehicle.

The most expensive type of coverage is this one. But if you select to have a high deductible you will be able to keep your payments down and still have this coverage that you need if you are involved in an accident. Comprehensive coverage is considered as the ideal type as it also covers the damages caused to your car such as fire, theft, natural disasters, and/or hitting animals in the road.

You have a lot of choices in coverage options to choose from , for your car insurance policy. One such option is medical payment coverage. This coverage will pay for your as well as your passengers medical expenses when you have been involved in an accident.

One of other options also include PIP (personal injury protection) coverage. This coverage can help pay for those medical expenses but will also help you if you are unable to work, unable to take care of your kids, or if you have to pay for a funeral.

Uninsured or under insured motorist’s coverage is yet another type of coverage you may want to consider purchasing. This coverage will help you pay for damages if you are struck by an uninsured or underinsured individual.

Other options that you may want to consider are rental reimbursement if you have to rent a vehicle because yours is in need of repair or stolen, towing and labor coverage, and gap coverage, which is coverage that pays the difference between the cash that you receive for a total car and the amount left on the car loan. When you are in any these situations, the add on features can come in really handy.

Ways to Save on Auto Insurance

The American economy is sucking a lot of money out of consumers’ pockets due to high gas prices and the general increase in every other consumer good from food to clothing that is associated with high oil prices. However, there is good news on the horizon, and that is that auto insurance rates are being reduced. Despite this reduction, there are several things you should keep in mind when shopping for car insurance to ensure you receive the best rate and coverage for you and your vehicle.

Tip #1 Shop Around
There are so many different auto insurers out there you might think it difficult to find the best insurance at the lowest prices. However, don’t despair because all you have to do is shop around. The easiest way to do this is to go online and search all your favorite car insurers in order to receive a fast and free online quote. Then, you can simply compare the services and prices of the insurers and make the best choice for you. Spending a little time on research might save you hundreds of dollars on car insurance.

Tip #2 Look for the Discounts
You may not have known this, but many auto insurers provide discounts to drivers for good driving behavior and other reasons as well. So, ask about the discounts available through various insurance providers and consider how many you would qualify for. More than likely if you qualify for one or two then your rates could easily drop several hundred dollars per year.

Tip #3 Maintain Your Credit
Unbeknownst to you, your credit score affects your car insurance rate. As a result, you should be sure to maintain your credit score as high as possible in order to not only receive the benefits of good credit, but also to pay lower car insurance premiums. It is really worthwhile, and something you will benefit from economically.

These tips are great ways for you as a consumer to take your car insurance needs into your own hands and find the best provider with the lowest rates and most coverage. When you start doing the research, you will be amazed how much money you can save as well as how many more benefits you can receive. Go ahead and start saving on your auto insurance today, there is no reason to wait.

Shopping For A New Car Make Sure To Shop For The Best Insurance Rates As Well

Most people spend more time shopping for their car than they do shopping for the best auto insurance rates. This is a mistake. As a smart consumer, you need to allot time for getting the best rate for your insurance. Your three goals are getting the best insurance rates, getting the best financing and getting the best price.

If you don’t shop around for the best rate your insurance premium can be more than your car payment. I’ve seen it happen and it’s not pretty. You are all happy and excited about your new car up until you find out how much the insurance is going to cost you. Then you struggle just to make the insurance payments. Or worse, you cut coverages to keep within your budget. For example, having the highest deductible, $1,000-$2,000.

It’s not hard to shop around for the best rate either. There are several comparison sites that will give you several quotes from multiple insurance companies to make sure you get the best rate. Use them. It only takes 10-15 minutes and it can save you from plenty of financial headaches. Just like the Geico commerical says, “15 minutes could save you 15% or more,” 15 minutes on a insurance comparison site will guarantee you get the best car insurance rates available.

When you do shop around, always be sure to have a copy of your current policy available for comparison. This will make getting the quote as painless as possible. That way you compare all the coverages and make sure you are getting the same discounts with the new company as the old one.

One thing that can surprise you is monthly payment fees so be on the lookout for these. Some companies charge you a monthly fee when you make monthly payments, maybe $3-$4 a month. That’s an extra $36-$48 a year you need to factor into your comparisons.

There’s nothing like thinking you’re getting a great deal only to find out it’s a good deal once all the dust is settled and you get your new policy. If you’re only going to save a few dollars a month after you switch to the new company maybe it’s best to stay put. Sometimes you will lose loyalty discounts with your current company that you won’t get with the new company. Or the customer service or claims service is great at the current company. These days that is worth more than a few dollars a month to me so keep these small things factored into the equation.

Shopping for car insurance is quick and easy and you may even save hundreds of dollars per year. All it takes is about 15 minutes. Make sure you put ‘shop for car insurance’ on your car wishlist when you go car shopping.

Visitor Health Insurance and Visitors Medical Insurance

Visitor Travel Medical Insurance plans sometimes referred to as Visitor Medical Insurance or Visitor Health Insurance plans can be purchased anytime even during the middle of a trip.

Medical emergency is a situation when a life-threatening medical condition existed, or the lack of medical attention would endanger his or her life, limb or sight and requires immediate medical treatment or has painful symptoms requiring a relieve to suffering or discomfort. Many Travel Health Insurance plans focus on providing coverage for your medical expenses resulting from sudden illness or injuries during your trip, with many policies covering trips from seven days to 3 years.

Many people find that understanding Visitors Medical Insurance can be a challenging process because there are numerous insurers with many different kind of plans, different deductibles, various coverage options and restrictions. Purchasing a plan that caters to your needs is not always easy. You can actually make your decision making process easier by taking advantage of the tools offered by the insurers’ website. It can help you to compare all major insurance plans, get free instant travel quotes and purchase a plan that best meets your specific needs.

Many insurers have offered the option of purchasing a Visitor Health Insurance online and this can get very misleading for many people because they thought that they can get immediate visitor health insurance coverage online. You should be aware that Visitor Health Insurance policies may establish a certain waiting period before it covers pre-existing conditions which are health problems you had before you bought the insurance, as long as the waiting period is reasonable by current standards set by the insurance associations.

If you think a Visitor Health Insurance is too pricey, you can save money on Visitor Health Insurance by obtaining a Dental Discount Card and an RX Prescription Card separately from your visitor health insurance program.

Visitor Travel Medical Health Insurance is ideal for tourists to US, for parents and other family members visiting the United States. The medical expenses at overseas can be very high especially when it involves hospitalization.

You can reduce the financial risk of unforeseen accidents or medical emergencies by buying visitor medical insurance.

Lastly, if you travel frequently to foreign countries you should get a Visitor Medical Insurance because with sufficient health insurance coverage, you can reduce the financial risk of unforeseen accidents or medical emergencies. Most importantly, you won’t have to see situation going catastrophic

Veteran Universal Life Insurance – What Is It And What Are The Advantages?

Veteran Universal Life Insurance is insurance that works for veterans to aid them in their post military endeavors. Universal life insurance means that you can vary or even suspend your premium payments depending on the financial pressures you face. Unlike typical life insurance, which pays out only on the demise of the policy holder, or at a nominated age, veteran universal life insurance is an investment scheme as well as life insurance.

This means that you build up a balance which you can borrow against or from to finance various purchases. The flexibility that is built in with payments is unparalleled in the insurance world, and can really help you and your family financially. If the policy is performing well, your beneficiaries may even receive more than the nominated death benefit.

You can also borrow on the balance of the insurance, for things like post retirement income. These withdrawals are deducted from the death benefit which is paid out to the beneficiaries. All these benefits do come at a cost however, a cost that you bear in the form of higher premiums than normal life insurance.

Where the advantage comes in is that you can effectively combine life insurance and investment together, not only that, but the policy can be tailored to suit the needs of a growing family. You can often choose which investments your policy goes towards. You can choose from stocks, bonds, and mutual funds. Not only that, but you can often change which investments your premiums go towards if you so desire.

This means that you can choose the amount of risk you take on, all whilst reaping the rewards that come with investments. Veteran universal life insurance can be an excellent investment and means of safeguarding your family financially, but it does pay to investigate the ins and outs of the particular policy offered to you, and also to learn a little about investing before you take the plunge.

Viatical Settlements Offer Comfort for Individuals Facing Terminally Illness

Terminal illnesses not only destroy lives, but they can also erode the financial stability of individuals and their families. A viatical settlement, however, can provide financial support and emotional comfort to those with serous diseases.

A viatical settlement is simply the sale of the benefits of a life insurance policy to a third party. Viatical settlements, also called “viaticals”, allow individuals facing a terminal illness to use the present day value of their life insurance policy to ease the financial burdens.

The viatical settlement business originated in the 1980s as a way to give terminally ill AIDS patients early access to their life insurance benefits. Since then, the use of viatical settlements has broadened significantly. Viaticals now include policy holders suffering from Lou Gehrig¹s disease, cancer, heart disease and other life-threatening illnesses.

The Importance of Viatical Settlements

Viatical settlements can provide an important source of funding for terminally ill people battling the high costs of medical care. An estimated 40 million Americans are not covered by health insurance, and many are often unable to earn a living because of their illness. These individuals must cover their medical costs out-of-pocked on top of daily living expenses such as food, shelter, utilities and transportation. Viatical settlements allow people in these circumstances to maintain a level of financial security during their final months or years.

Viatical settlements are completely legal transactions based on this concept: Investors buy life insurance benefits from insured individuals for a percentage of the face value of their policies. Then they collect the full amount of the death benefit on the policy when that person dies. For terminally ill people, viatical settlements allow them to receive a partial payment on their policies while they are still alive. They can use these funds to pay for their health care, to meet daily living expenses, or even take a well-deserved vacation with their families. The bottom line is: Viatical settlements enable individuals to take advantage of their life insurance benefits before they die and enhance the quality of the life they have remaining.

How Viatical Settlements Work

Viatical settlements are relatively common. Here’s how they work. The owner of the life insurance policy sells the policy for a percentage of the death benefit. The discounted price received is typically 60 to 70 percent of the policy’s face value.

The viatical settlement buyer becomes the new policy owner and/or beneficiary of the life insurance policy and is responsible for paying all future premiums. The buyer also collects the death benefit of the policy when the insured dies.
The original owner of the insurance policy, incidentally, may not necessarily be the individual with the life-threatening illness.

The approval process for viatical agreements is generally based on the nature of the illness or condition and a doctor’s review of the insured’s medical records. Usually the viatical settlement transaction is facilitated through a broker or a trusted insurance agent—without the buyer ever meeting the ill person.

Guidelines for the Sale of Viatical Settlements

Almost any type of life insurance can be sold through a viatical settlement as long as the policy doesn’t prohibit transferring ownership rights. Universal, whole, term, and even group life insurance policies are usually accepted.

However many policies include a “contestability clause” that allows an insurance company to cancel a policy if it discovers that the policy holder had a preexisting condition. Therefore, most settlement companies will only buy policies that are at least two years old.

There are generally two types of companies that purchase viatical settlements. The first type buys life insurance policies directly from ill people, using either private funds or proceeds from the sale of company stock. These companies, themselves, hold all the rights to the insurance policy and act as the designated beneficiary of the policy. These are considered to be “non-brokered” transactions because the viatical settlement provider purchases the policies directly.

The second type of viatical settlement company acts as a broker or intermediary—the category into which most settlement companies fall. They match a group of potential buyers with a life insurance policy available for sale, rather than directly purchasing the policy. As the broker, the viatical settlement company doesn’t own the policy. Instead, it is entitled to a percentage of the death benefit or purchase price—usually 4 to 6 percent—as compensation for its services.

You Need To Know About Health Insurance & How Quotes Are Calculated

We all hope to stay well and healthy all the time, but we all know that we are going to be sick or may even be unfortunate and have an accident at some point in our lives. We all have access to the state health services but if you want additional private cover then this is where taking out a private medical insurance comes in. This article explains about health insurance in general and how quotes are worked out in general.

Private medical insurance will cover the cost of your treatment when you are unwell, but the kind of cover and amount of the cover you get varies considerably from policy to policy.

Make sure that when you are considering which health insurance policy to take out that you carefully read the policy so that you can find out which illnesses you are covered for and which illnesses are not included in the policy cover. It can also be the case that your medical insurance policy may require you to use particular hospitals for your treatment.

So what are health insurance quotes calculated on? Well providers calculate your policy quote on several factors, the most important being your age, your health, your medical history, your occupation and they also look at whether you smoke or not. If you do smoke, then you are likely to get a more expensive medical insurance quote.

Some health insurance policies let you choose to have an excess which if you decide to have this option it will lower your insurance quote. Another important thing to take into account when taking out a private medical insurance policy is that no matter how much you decide to spend on your cover you will not get cover for certain illnesses. These illnesses include long term illnesses, alcohol abuse, AIDS, suicide attempts and illnesses that are related to old age.

It is very important that when you take out your cover that you advise your healthcare insurance company of everything that is relevant to your health insurance application. This means you must tell them about any pre-existing medical condition or illness that you may have and it is highly likely that they will not cover you for these pre-existing medical conditions or illnesses.

And finally it is worth mentioning that it is always a good idea that you shop around to find the most suitable and affordable private medical insurance solution for you.

The Five Key Steps in Medical Insurance Review

Medical insurance reviews provide results in a timely fashion. Filing a medical claim can be a lengthy process prone to miscommunication and breakdowns in the chain of paperwork. Bringing in an independent review organization can tap into deep reservoirs of medical expertise. The review on this level can determine an objective approval or denial of an insurance claim. The denial will be based on medical fact, however and not on anecdotal evidence.

The Five Key Steps in Medical Insurance Review

The following steps illustrate how a medical claim is reviewed.

· A patient is prescribed a treatment for a condition or injury. The medical opinion of the attending physician along with related charts and information may be submitted or requested in order to request coverage of the insurance claim.
· Medical and physician resources are provided the medical information and asked to review the treatment and prescribed recommendations.
· The medical specialist assigned to the case will provide an unbiased opinion with regard to the treatment.
· An insurance expert reviews the terms of the patient’s coverage as offered by the insurance company. They will offer an unbiased determination with regard to whether the patient is covered for the treatment in question.
· Finally, the two opinions are combined to return an objective recommendation for approval or denial.

On Time Decisions

This process allows for healthcare decisions to be made in a timely and expert fashion. The resource is invaluable for all aspects of the healthcare profession. Patients will receive approval for vital treatment that may be otherwise rejected by a large insurance company that handles its own medical reviews internally and without expert sources.

Anecdotal evidence is never used to deny a claim or pay for an unnecessary treatment. The use of third-party experts and medical specialists provides claim managers with the verification and authentication needed to do not only the right thing, but also the best thing. The medical insurance review process removes the factor of uncertainty that claim managers may face in a world of rising medical costs, complex specialization and treatments.

Avoids Ill-Informed Approvals and Denials

Healthcare costs skyrocket in an atmosphere where a claim manager must err on the side of caution to either pay for unnecessary treatment or deny one that is necessary. Without using an independent review organization, the insurance company may lack the resources to make a decision in a timely fashion.

As illustrated by the five key steps of the review process, experts from both sides of the equation are consulted. Complicated medical technology combined with equally complicated insurance policies and terms can make for a morass of misunderstanding without the right types of expertise. The process also reduces the amount of frustration felt by claim managers, patients and physicians by filtering the claims through the right hands to get the right advice and interpretations.

Fiscal Responsibility

The more approvals of unnecessary treatments, the higher insurance costs will soar. The medical insurance review process allows a claim manager to make an informed decision and eliminate unnecessary treatments. Patients and physicians rely on insurance coverage to underwrite potential treatments for a multitude of conditions.

An insurance expert understands the complex terminology of a coverage policy. Specialized physicians understand the nature of illness and treatment. The combination of expertise improves the process of treatment review and coverage approval. That means no lengthy waits for vital services and no funding for unnecessary ones.

This process has a dramatic impact in reversing the trend of rising healthcare claim costs. By dramatically reducing these riding costs, an insurance company can save money for their consumers, their shareholders and the healthcare community.