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Posts Tagged ‘Insurance Articles’

No Medical Exam Life Insurance: What You Should Understand

July 25th, 2018 Comments off

When searching for a no medical exam life insurance policy one usually will not find it extremely difficult. When you seek term life insurance policies this is applicable.

The best way to do this is by using the Internet. Explore the larger databases of insurance companies that provide term life insurance policies.

In advance of initiating your search, be advised that not anyone will get a no medical exam life insurance policy. Once you locate a spot of interest you’ll have to complete a questionnaire.

You’ll be asked for some personal information such as your gender, age, weight, and height. You’ll also be asked about your medical history and about the medical history of your family.

Knowing this assists agents in determining you’re eligibility for a no medical exam life insurance policy. More often than not, you must be fairly young and in good health to qualify. You should be aware of the implications of lying on your life insurance application.

While it is very easy to do because not much is verified in advance, in the event that a claim is filed and the truth is discovered the policy will be canceled and nothing will be paid out.

People that say they are in good health and then die, had better been telling the truth. Be certain that you comprehend the policy and be truthful. The intention of the health exam is to provide shelter for the company. If you have a serious and potentially fatal health condition, the life insurance company wants to make sure they receive the necessary amount of payments to cover you and your beneficiaries.

You can save much money in life insurance if you obtain and compare life insurance quotes from quotes sites. You’ll realize savings if you visit only one of such sites. But keep this in mind, you will get better results by using at least five.

The straightforward reason for this is that you will receive many more life insurance quotes from a wider range of insurance companies. This raises your chances of getting better rates.

For more tips click here: Universal Life Insurance Quote and No Load Life Insurance Quote. Chimezirim Odimba teaches how to pay less for more.

International Health Insurance for Missionaries

July 22nd, 2018 Comments off

Various international health insurance plans have been designed for missionaries who travel outside their home country for work. Since comprehensive health coverage benefits are not provided by most of the health insurance plans which offer domestic coverage in their home country, the missionaries need to necessarily purchase an international health insurance plan while they travel abroad.

These international travel health insurance plans which are designed for missionaries provide coverage worldwide for both non US and US citizens who travel outside their native country. The policies can be purchases for a minimum duration of 10 days or a maximum period of 2 years during initial purchase. For longer periods, long term international missionary health insurance plans have been designed.

Many of the long term international missionary insurance policies place restrictions on the duration of stay in the US. However, certain specific missionary insurance plans do not place restrictions for these missionaries and their families.

International health insurance for missionaries offers a wide range of medical coverage benefits which includes doctor office visits, intensive medical care, local transport in the ambulance to the nearest medical set-up during emergencies, treatment of dental injuries which occur during the accident, emergency illness treatment with or without hospitalization, emergency evacuation, repatriation and reunion, accidental death benefits and return of mortal remains back to the homeland.

In case the missionaries purchase long term international missionary medical insurance plans, they might be eligible for coverage of pre-existing conditions, maternity and wellness after a specific pre-determined waiting period. Optional coverage for leisure sports, adventurous or hazardous activities are also available.

The effective date of the short term international missionary health insurance plans begins on the day the completed application form is received by the insurance provider along with the requested initial payment and the day the missionary departs from the native country. However, if a specific date is mentioned in the enrollment form, the effective date starts as mentioned in the application. Missionaries seeking for long term health insurance coverage should also submit a lengthy questionnaire along with the application form. Coverage period begins once the application is approved.

The international insurance policy remains valid until the date requested at the time of application or the expiry of the insurance policy or upon the return of the missionary back to the country of citizenship, whichever event occurs earlier.

Short term missionary health insurance plans can be renewed on a daily increment basis or a monthly basis and the request can be submitted as an application form or completed online. However, if the renewal period is less than one month, you have to submit the request online only and you would be charged a nominal processing fee. Annual plans can be renewed for as long as the insured continues to remain eligible for the plan.

Ray Sondeo often writes about international insurance.

7 Things That Will Affect How Your Car Insurance Rates Work

July 21st, 2018 Comments off

It’s important to understand how car insurance works and how your premiums are calculated. You will never know the exact formula for calculating your rates, but there are some factors that will affect how much you pay for car insurance. So here are some things that will raise and lower your car insurance rates based on how risky you are when it comes to driving.

The extent of coverage you need or want will affect how much you spend for car insurance. Obviously, the more protection you want, the more you will have to pay. Take for instance liability insurance, the cheapest type of car insurance, will make you spend less compared to a full coverage plan.

The amount of your deductible will play a direct roll in how much you pay for car insurance. A deductible is simply the amount of money you pay before the insurance company will start paying a covered claim. The more money you are willing to take out of your own pocket before the insurance company does, the less you will have to pay in premiums. The less your deductible is, the more money your premium will be because the insurance company will likely have to pay you at some point.

Your driving record also plays a crucial role in your premium amount. If you are always involved in accidents, the insurance companies will consider you as high risk. Your premiums will increase correspondingly. If you have a good driving record, you will pay less in premiums because you are deemed as low risk. The insurance companies prefer low risk clients.

Credit rating significantly affects car insurance premiums. A higher credit score will mean better rates with your car insurance policy. This is because you are deemed as less risk by insurance company if you are more responsible with your credit.

Your location can influence your car insurance rates. If you reside in a bigger city with many cases of burglary, your insurance premiums can be higher. Insurance companies will give you a discount based on your residence, anti theft security feature of your car, and the parking area of your vehicle when not in use. You have less control over the discount rate unless you own a car with many safety features.

You age affects your car insurance rate also. Usually, more years in driving will mean lower pay for car insurance. Teenagers and people under 25 years old are charged with higher rates than other age group. Seniors likewise pay higher rates because teenager and seniors are both prone to car accidents.

And lastly, the type of car you drive will have an impact on how much you pay for car insurance. The more safety features, how old the car is, and what type of vehicle you drive will allow for fluctuating car insurance rates. Make sure to check out how much your car insurance will cost when buying a new vehicle.

Hopefully these 7 tips that affect your car insurance rates will help you understand how car insurance works, and how your rates are calculated. The more you know about car insurance, the better off you will be in the long run.

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Visitor Health Insurance Plans For Visiting Parents

July 12th, 2018 Comments off

It is very important for visitors to the United States to be covered under a health insurance plan. Especially parents who visit the country to meet their children and friends need to be insured as the medical costs in the U.S are very expensive.

There are a number of U.S visitors medical insurance plans available for visiting parents. The Visitor Medical insurance, Visitor Health Insurance and Non-U.S Citizen Insurance come under this category. These insurance plans have been underwritten with great care by famous U.S companies and all claims regarding them can be administered in the U.S. Not only parents but even students, scholars and immigrants can subscribe to these plans online.

Visitor’s health insurance plans have been specifically designed to meet the requirements of visiting parents. They can be utilized in the U.S as well as other countries. Many policies allow the insured to use doctors and hospitals in a US based PPO network, where direct billing may be possible.

U.S residents can avail the insurance company website to purchase a suitable plan for the visiting parents by providing a few details such as age, the maximum coverage needed, the extent of the coverage period required and citizenship, after which, appropriate plans show up on the website from which a preferred plan can be chosen. A few of the many health insurance plans include Inbound USA plan, Immigrant Secure Plan, Atlas America, Patriot America and Visit USA Plan.

Visitor medical insurance plans are designed to cover all expenses due to illness or injury in a foreign country. Parents can choose to purchase these plans either before the travel or during the travel. Purchase options are available from 5 days to three years.

The maximum medical coverage offered under visitor medical insurance plans ranges from $50,000- $100,000. They cover several factors such as doctor’s office fees, prescription drugs, emergency medical evacuation, repatriation of mortal remains, accidental death and dismemberment an as emergency medical expenses (both inpatient hospital and outpatient).

Even though visiting parents maybe healthy and fit, one cannot predict when an injury or illness may strike. Anything from a twisted ankle to a major accident could warrant doctor office visits, prescription medication, diagnostic tests and hospitalization, all of which lead to the bills piling up. A visitors insurance plan can give you peace of mind and safeguard against high medical expenses.

There are a number of visitor medical insurance plans that are suited to the requirements of visiting parents and after going through the details, a choice can be made. Thus it is recommended that every parent who is visiting a foreign country be medically covered in order to have a safe and pleasant trip.

Ray Sondeo often writes about Visitor insurance.

Principal Types of Life Insurance

July 11th, 2018 Comments off

The concepts of life insurance are not new. It is a concept that is practiced worldwide and dates back to many decades ago. It is continuously gaining momentum among people of all walks of life. This is cutting across people who are employed and non-employed, the rich and the poor, and the young and the old alike.  There are two types of life insurance all over the world. These are term and whole life insurance. As they appear, the two types of life insurance may appear straightforward in meaning and description, but that is not the case.

They are further subdivided into other categories. These categories include the conventional whole life, variable and variable general life insurances. It is estimated that approximately 6.4 million personal life insurance covers were term while nearly 7.1 million others were whole life. Personal life insurance covers are so different from the group life insurances in so many aspects. This article focuses its attention of individuals’ life policies.

Term Insurances

These are the most basic types of life insurance policies. The policy is only paid upon the occurrence of death within the term of the cover. The cover is usually extend between a periods of one to 30 years depending on the firm issuing the policy or policy duration taken by the insured. A number of term policies provide fewer benefits. Most often there are none at all.  The term life insurance covers are subdivided into two: – the level and decreasing term.

The first type of cover means there is no alteration to the death benefit throughout the entire duration of the life policy. The latter on the other hand implies that the death benefits decline as the number of years of policy increases. The increments are usually calculated yearly over the period in which the policy is taken. It is estimated that nearly all term life insurance covers in United States in 2003 were purchased to level term.  This figure constituted to about 97 per cent.

Whole life or permanent Insurances

This is the most preferred types of life insurance by many people not only in United States but around the globe as well. It is termed as permanent because the benefits are paid upon death irrespective of the time the death occurs. Permanent life insurance is mainly classified into three. These are conventional whole life, general life and variable general life covers.

There are wide major distinctions between these three types of insurances. Prior to 1970s and 80s, the traditional or conventional life insurance was the only form of insurance available to permanent insurance or whole life insurance policy seeker. General and variable general life insurance which is sometimes referred to as universal and variable universal life insurance was only introduced to the market by insurance firms in 1970s and 1980s.

The death benefit and premium paid under the conventional whole life are designed to remain constant throughout the term of the cover. The cost of obtaining a traditional whole life insurance is linearly related to the age. This implies that, as age increases the cost of obtaining whole life also increases overtime. The reason behind this is to discourage people from purchasing insurance covers when they are old.

It is assumed that as ones age maturity increases, the risk of death occurring also increases and nearly all insurance companies would like to avoid insuring such risks. The high cost of traditional whole life insurance is also used to supplement the level premium which aids to meet the cost of the cover in older individuals.

The law nevertheless stipulates that the higher pay must be reimbursed to the insured or holder of the policy in cash value should he or she opt to terminate the policy. The cash value is not an additional benefit associated with the policy; rather it serves only as an alternative.

Conclusion

If you are considering taking whatever kind of life insurance, ensure that you talk to insurer first to understand the basics and finer details about the cover which is appropriate for you. Despite the fact that the rules governing the insurance are similar, there may be certain slight variation among different types universal life insurance policy companies. It is always good to find out what these variations are and how they can impact on the anticipated policy.