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Posts Tagged ‘Insurance’

Know More About Mortgage Protection Insurance!

You are about to buy your first life insurance policy and this is first foray into the world of life insurance policies, the word Mortgage protection insurance can leave you a little disconcerted. What is the difference between Mortgage protection insurance and life insurance? What would best suit your needs? Are there any extra benefits of choosing Mortgage protection insurance over regular term or whole life insurance? These are a few questions that people who are new to insurance policies seem to have. Firstly, Mortgage protection insurance is simply nothing more than life insurance, just packaged fancily.

If you are considering opting for Mortgage protection insurance, you need to know your facts regarding what the policy offers. Look through the fine print of the policy in detail. Sometimes, these policies have decreasing death benefits and are considered to be more expensive than the regular term life insurance policies. However, Mortgage protection insurance provides coverage in the event of death and also of disability. To find out exactly how much more expensive this is over term life insurance, go online and do a comparative study to take an informed decision.

The reason why most people opt for Mortgage protection insurance is that more often than not the mortgage you have on your house is the biggest outstanding debt one could be left over with. Having Mortgage protection insurance will ensure that all your outstanding mortgage payments will be paid in the event of untimely death. Another piece of information about this particular insurance policy is that it is a non-medical one. The amount on your policy or the premiums you require to pay are not dependent on your health status. You and another person whose health is not in as good shape as yours would probably pay the same amounts which is a case where you lose out as good health makes for lower premiums in case of regular term life insurance. The only classification there that exists is one of smokers and non-smokers.

The suggested route by most insurance experts is to have Mortgage protection insurance as an add-on to your existing home insurance policy. In this way the money coming in from the Mortgage protection insurance policy helps you in paying the bills in the case of unemployment. This helps your family retain the home in case of your untimely death.
To know more about the various insurance policies visit a few websites and arm yourself with as much information as you can as in this case information is wealth, most certainly.

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Written by Whole Life Quote | Term Life Rate : BeamaLife

When Your BMI Increases, so Does Your Life Insurance Rate

Life insurance is the ideal way to provide for your family when you are no longer around to provide for them. It is a great way to show them that you really care. However, too often we end up paying higher premiums on our life insurance, forcing us to compromise on the death benefit. One of the most common reasons behind higher premiums is higher Body Mass Indices or BMI’s. Let’s learn more.

Why a high BMI will increase your life insurance rate
BMI is a body fat ratio that is derived out of your height and weight numbers. According to The Centers for Disease Control and Prevention a BMI of 30 or more is considered obese, and a BMI between 25 and 30 is considered overweight.

Let’s understand the impact of a high BMI:

  • During a recent study, researchers found that men and women with BMI’s between 22.5 and 25 have the longest life spans.
  • High BMIs are associated with serious health risks such as cancer and heart disease and can seriously shorten your life span.
  • A BMI between 30 and 35 can reduce your lifespan by 2-4 years, and BMIs between 40 and 45, can reduce life spans by up to 10 years.

Life insurance companies make the most revenue out of people with longer life spans. They value healthy customers who are able to pay premiums well into their retirement years, than those who die from illnesses in their younger years.

A low BMI will therefore increase your life span, but a high BMI will cost you higher premiums. Those who have higher BMI’s should therefore work on bringing it down.

How to get your BMI down and qualify for a better life insurance rate
If you have a high BMI and want to qualify for better premiums, the only way out is to bring down your BMI. However, there is no quick-fix method of doing this. Further, life insurance purchases should never be put off. So as a first step, go ahead and buy a policy at a high rate. Term life policies are cheaper than whole life policies and just as effective. If you are serious about bringing your BMI down, get yourself a term life policy that will cover you for about 5 –10 years, which is a more than enough time period to bring your BMI down.

Once your life insurance policy is in place, you need to get serious about bringing your BMI down. Simple health, lifestyle and diet changes will make a huge difference. Remember to be consistent and most importantly, keep a record of your progress, along with supporting medical records and notes from your physician. They will all come in handy when you reapply for life insurance later. They will serve as proof, and assure the underwriters that you are serious about your health and are doing all you possibly can to improve it.

Wait for a span of 2 – 3 years, and if you are able to show consistent results, reapply for a policy.

Enjoy a better, longer life with a lower BMI
The associations between mortality and BMI & morbidity (ill health) and BMI are real and cannot be ignored. One needs to be more careful especially one you are in the market for life insurance. The Life insurance companies consider those who are able to keep their BMIs low for longer periods as their best customers. So remember to maintain your healthy lifestyle throughout your term. A lower BMI will not just guarantee you a lower premium; it will also keep you healthy and give you a better quality of life. Your family will stand to gain the most by having you around for much longer!

About Author

About AccuQuote:
AccuQuote is a leader in providing term life insurance quotes to people across the United States. In 1986 it began operating with a single goal: to make the process of buying term insurance as easy as possible for its customers.

A Bite Out of Crime.: An article from: Risk & Insurance

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This digital document is an article from Risk & Insurance, published by Axon Group on June 1, 1999. The length of the article is 438 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

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Title: A Bite Out of Crime.(Brief Article)
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A Bite Out of Crime.: An article from: Risk & Insurance

What is a Life Insurance Special Events Benefit?

Most New Zealand life insurance plans include a free feature called a “Special Events Increase”. This can be a vital part of life insurance – we’ll take a quick look at how it works.

Let’s say you have a life insurance policy that is worth $400,000. Then, because you have increased your mortgage, you want to increase your life insurance by $100,000. Usually, in this situation, you would need to provide information about your current health to the insurer (by completing a new application). The insurer would then assess this information and increase your cover. Often this is simple, however if you have experienced any health issues since you originally started your life insurance, the insurer might not allow you to make the increase (or they might allow the increase, but only at a much higher than usual premium). The reason for this is that any increase is treated by the insurer as a brand new application – which they might or might not approve.

However if your policy has a “Special Events” benefit, you can increase your cover without having to provide any health information at all to the insurer. So you’d simply make a request for the insurer to increase the insurance, and you wouldn’t have to complete an application form. And the most important part is that even if you’ve suffered a health issue, the insurer can’t deny your increase, or charge you higher than usual premiums. Even in situations where a person has become very ill, the Special Events benefit means that they are guaranteed to be able to increase their cover if a special event arises (typical special events are taking out a mortgage, having a child, moving house etc).

Special Events benefits have some limitations – there is usually a cap on the amount of the increase you can make, and people over a certain age are not eligible – however this can be an extremely useful benefit. So, if you’re thinking about starting a life insurance plan, make sure any plan you’re considering includes this.

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Find expert advisory services, quotes and more from Newzealand’s top providers

Supplement Your Original Health Plan by Medigap Insurance

Medigap insurance or Medicare supplemental plan is that type of plan which asserts the possibility to get the complete benefits of the Medicare original policy by double. It is purely made remembering the criteria that Medicare original always left some money coverage or insurance money unpaid or undue due to insurance structure or insurance policy. It is normal and common to the insurance holders. For this you if you have to get 100% benefits of your Medicare original plan then you have an option and that is to applying for a Medicare supplemental plan or which is called medigap insurance plan.

Medicare supplement plans or Medigap is the private health insurance plans that are for those people who already have a Medicare policy. The Medigap or Medicare supplement plans helps the Medicare beneficiaries to bear that extra medical cost that are left aside by the original plans. The name Medigap is suggested because it is believed that these policies bridges the gap between the Medicare coverage and the original expenses or the total bill charged. However in the recent studies it is seen that in the United States about 18% of the people having original Medicare policy goes for the supplement plans also.

Some details are here following. Medigap insurance needs to be applied for after you have done an original one as it will be Medicare original’s supplement. Other fixed criteria are age and other medical screening before doing the plan. But all the plans are same fixed by the governing body of the private companies which provide medigap insurance. At first you have to enroll your name under the plan A or plan B of original Medicare plan. It is mandatory and vital. A person may obtain a Medigap plan on a guaranteed issue basis during the open enrollment period, which begins within 6 months of turning 65 or enrolling in Medicare Part B at 65 or older. And also that I this period no medical screening is required. But after this open enrollment you have to give a medical screening and test for this health insurance plan. If the screening is felt required then you have to sit for a physician’s checkups. You may note down that any other medical insurance plan like Medicare Advantage plan will not be compatible with medigap insurance plan. No private medical coverage plan is under the list of compatibility apart from the original Medicare plan.

Medigap insurance plans may vary state wise but the basic rules are the same and they have to be maintained strictly. No private company on its own can change the rules and other formalities according to its whim. It is always same irrespective of company from where you are getting the medigap insurance. Currently there are 12 standard plans available in USA. They are named after English alphabet starting from A to ends with L. All the 12 plans provide different kinds of benefits and offerings to its customers. Medigap Plans H, I, and J, cannot be sold to people with prescription to drug benefits, although there is a lax of this rule for people who already have those plans and they can keep them.

Medigap Insurance Plans Required to Make Your Future Full of Happiness

Medicare plans are always a better option to have a health care insurance which serves all well for your retired life. It is always a wise decision to have a Medicare original insurance policy but it is also seen that original Medicare plan does not serve everything well when comes to paying all the expenses that are made by you in your treatment. It is often seen that the patient has to pay or spend some bucks from his pocket which are not covered by the Medicare original policy. For this reason Medicare supplement insurance is introduced to bridge up the differences between the original payments that you need to spend and the insurance money given to you by your Medicare policy. It is noble idea to have a Supplemental Medicare Insurance Plans beside an original one. Medicare Supplemental Insurance is also known as Medigap insurance plans which clearly explain that the gap made by the original one is covered by Medicare supplement plans and the name suggests the work clearly. It is very important to have a medigap insurance plan with original Medicare policy to claim the whole amount of money that is needed for your treatment.

So to get all the hidden advantages of original Medicare plan you have to do a Medicare supplementary insurance plan. Then you will be able to get all the advantages of your original insurance policy. But pay attention to the fact that you have to enroll your name first for the original one and then you can do this supplementary Medicare plan. Without the original it is seer impossible to get enrolled for the later. It is not independent and the entire supplementary medicares are controlled by various private companies and no government body is concern about the supplementary one. But all the private companies have to follow some specific rules and they are bound to follow those rules.

There are total twelve plans in Medigap insurance. They starts from plan A and ends with plan L. all these plans are available in the market and each of these contains some specific benefits to original Medicare policy. It is being said that around 2010 there will be two new plans named as M and N. Almost all of the Medicare Supplement Plans provide the basic benefits of plan A and in addition to that they have their additional benefits. Like any other insurance plans you should consult insurance agent and then decide what will be your priority to book for a special one. What you will need in future concerning your health issue you will definitely book for that plan. So it is very important to read the details about the insurance plans and then go for it.

Before choosing a particular Medigap insurance you can Compare Medicare Supplement Plans and choose the Best Medicare Supplement Plan. Medicare Supplement Comparison will help you to find out the Best Medicare Supplement. It is important because it is a thing dealing with your future and health. Among all the available medigap insurance plans Medigap insurance California is one which is secured and good to pay attention.

A Consumer’s Guide to Dental Insurance: How to Select the Best Plan for You and Your Family

A Consumer’s Guide to Dental Insurance: How to Select the Best Plan for You and Your Family

Are You HIV Positive And Looking For Life Insurance

As of 2005, there were 58,000 Canadian residents surviving with HIV/AIDS. Traditional life insurance is usually not available to members of the public who have immune system abnormalities, including HIV. However, life insurance coverage is out there from guaranteed issue providers and many simplified life insurance providers.

Guaranteed issue plans has no medical examination and no health queries. Due to there being no health queries, then you don’t have to state you suffer from an immune disorder. Unfortunately this doesn’t mean it’s all great news and I will tell you why:

  1. To start off with expect to pay large policy contributions.
  2. the accessible face amounts are tiny.
  3. The protection has a two-year waiting period. In this instance the best payment you can hope for is the return of the premium payment with interest. That is if the insured dies within the first two years of a non-accidental death.

The other choice is a simplified issue life scheme, whilst no medical exam there are up to 12 health questions on the application. With higher face amounts and less expensive payments this type of scheme is better from the monetary side. Be aware though that some of these plans still have a waiting time of up to 2 years, though a few will pay out straight away. The two top providers of simplified life insurance schemes in Canada are Assumption Life and Canada Protection Plan. With regard to questions about HIV or AIDS then the differed term policy and the deferred life policy from Canada Protection Plan are the most user friendly.

“Within the past three years, has the insured been treated for unusual chronic infection, including HIV and AIDS?” – this is the inquiry on the deferred Life scheme. While the Canada Protection Scheme for deferred term asks: “Within the past three years, has the insured been diagnosed with or started treatment for unusual chronic infection or immune system abnormality, including HIV or AIDS?” – this scheme is even better for the potential purchaser and has $100,000 of coverage.

Lorne Marr PhotoAbout Author
Written by Lorne S. Marr of LSM Insurance. LSM Insurance works with 13 different insurance companies, such as Manulife Financial Life Insurance and Sun Life Insurance and many more.

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