5/23/19 insurance – gtg
Emergency Medical Assistance
Accidental Death Insurance
What are the benefits of taking a travel insurance policy?
Costs of taking travel insurance may be viewed as additional expense but if you are involved in a problem that requires you to use your policy, then you will find out that the policy is worthwhile. Travel insurance gives you peace of mind because you know that you are covered in the event of medical problem and loss of personal things.
1. It covers medical expenses, dental and hospitalization as well as costs in bringing you back to the country if you are sick.
2. Replacement of loss or theft of your personal belongings by the plane or transportation type you took for the travel.
3. Provide money back guarantee for cancelled trips when these are trips that are not refundable.
4. In the event of loss or theft, the insurance company replaces all the items.
5. The insurance policy also gives you a small amount in case of death, disability or dismemberment.
6. It also replaces your cash and documents when you lose them or if they are stolen during the trip.
7. Personal liability.
Key points to remember when you are taking a travel insurance policy
When you considering travel insurance you are advised to do the following to ensure that you understood what is covered and what is not:
Understand fully well the details on what is covered by your insurance policy and what is not, what is the ceiling of the amount that the insurer will pay, what do the terminologies used in the contract mean.
Understand the terms and conditions of the policy you want to purchase, if you find the terms not good enough for you then find another company who offers the best.
Find out if the insurance policy specifically covers emergency medical evacuation and assistance, this is a very costly expense on your part if your insurance company denies your claim because of certain technicalities or vague provisions in your contract.
Talk to the insurance company for clarifications on the services and coverage contained in the policy. You may even want to go through some reviews, just by searching the insurer’s website.
Getting travel insurance when you plan to go for a trip especially outside of the country may mean additional expenses for you, but it gives you back more than what you paid for when you encounter problems while on your trip.
Life Insurance Loans or Selling Policy
Many elderly with life insurance coverage allow their insurance to lapse for reasons that you are no longer able to pay the premiums or simply because you don’t need it anymore.
However, before you let that happen, you must know that you can benefit from your life insurance policy even if you’re still living by selling or borrowing against your policy.
How do you benefit from your life insurance even if you’re still living?
The amount that you get by selling may not be as high as your claim if you have died or declared to as suffering from a terminal disease but it is still money that is nearly as much rather than just leaving it to lapse.
Selling a life insurance policy is favorable to and elderly who have no dependents, little mortgages or debts or to those who are suffering from a terminal disease as additional source of funds for medical expenses.
Borrowing against your policy is another option if you don’t want to lose it by selling. Insurance companies allow you, the insured to get a loan against your policy with a corresponding interest which they deduct automatically from the proceeds of your loan; it will be deducted from when your beneficiaries claim the payout upon your death. The beauty of this option is that you are not required to pay an amortization of the loan and most often it’s not taxable.
What is needed to be done in selling your insurance policy?
Selling your life insurance policy does not require so much effort from you. The only thing that the investor requires you to do is to inform your beneficiaries of the impending sale of your insurance.
Some investors however, require the signature of your beneficiaries as evidence that they know that your insurance policy has been sold and they do not have claims over it.
The insured presents the insurance policy to an investor.
The investor pays the policy holder the amount agreed upon, takes the policy and assumes the premiums of the policy until the policy holder dies.
Upon the death of the policy holder, the insurance company pays the investor the full amount of the policy.
The investor may choose how to exact settlement under your policy through viatica or life settlement, which is also used to measure the risks the investor shoulders when buying your policy. In viatica, the terminally ill policy holder, whose death is a certainty to happen now or in a few months, has lesser risk to the investor so the payout is larger.
In life settlements, the death is certain too because peoples death is a certainty but the investor doesn’t know when will that happen, thus, the risks is higher and the pay is lesser.
How much do you get from selling your insurance policy?
In selling your life insurance policy, you need to ensure that you are dealing with a licensed investor and you could get the services of a lawyer to do the terms of the sale for you to avoid scams that is proliferating in this particular trade.
Reports yield that almost 20,000 cases of Americans meeting difficulties while traveling abroad occur each year. If such travels had been covered by insurance, such nuisance which led to unprecedented financial burden and stress could have been minimized or eradicated. Perhaps one of the insurances that most people neglects is Travel Insurance. Some may find paying for travel insurance premiums as just a squander of money. Nonetheless, you must realize that most travel insurance premiums are quite low and the equivalent serenity that you get in case your flight is cancelled or delayed, baggage get lost or if something happens to you while you are traveling, is something worth much more than you are paying.
There are various types of Travel Insurance available in the market. Some are so basic while others may include coverage for a more adventure sports and traveling to places considered at high risks. To guide you in choosing the most appropriate Travel Insurance here are some tips to ensure that you get fully covered:
Be aware of how you travel
You insurance provider should know your style of travel so that they can offer you with the corresponding coverage that will really cover you. That is why it is very crucial for you to be aware of how you travel so that you can relay this to your insurance provider. Your supposed risk amplifies the longer you travel and the more places you visit. For instance, you travel to a particular country for a week. In such instance, the probability that you will make a claim is far less than if you are going to travel to ten or more places throughout the year. If you can establish your travel style to your insurance provider the better coverage you would probably be able to obtain. If you travel frequently, obtaining a multi-trip insurance might able to save you more money.
Ensure that your activities are included in the coverage
Since most Travel Insurances only covers the basic, you must always ensure that when you go beyond the basics, you must always inform your insurance provider so that you will be covered accordingly. Should you happen to go to places pre-identified as high risk or engages in sports that are considered dangerous without informing your provider, you might be in for a stressful time should anything happen to you. Moreover, your provider cannot cover you for such circumstances that was not specifically included in your policy or made in addition to existing coverage. The premiums you will pay for such coverage would be truly worth the effort since hospitalization and other medical expenses abroad can be very costly. You can do away with the hassle of shelling out your own money for the expenses and medical bills you may incur should the activities you engaged in are not included in the coverage.
Ensure that you have sufficient luggage cover
Traditional travel insurance covering luggage is limited for it only covers the basics. When you board a plane, your bag and everything basic it contains will be covered. However, if you have some other expensive gadgets in it like laptops, digital cameras and costly music players inside, these would not be probably covered. In this case, it would be exigent to take a look into the terms and conditions of the travel insurance you have taken to determine how much more you can extend to cover your luggage in case it gets lost or stolen. This would be crucial at times when you are on a business trip and you lost things which are not covered by your traditional travel insurance. Getting a policy that would include extension coverage for such kind of luggage then becomes a must.
Credit Card Protection Insurance
Over 10 million Texans made an online purchase during the past year according to research. Consumers throughout the world are drawn to e-commerce shops, auction sites, and daily deals websites for the convenience, savings, and novelty that they provide. Yet despite this convenience, there is the unfortunate potential of identity theft and scams. Before parting with your hard earned money, it’s worth taking a closer look at each website to ensure that it has proper security measures put into place. Another way to protect yourself when shopping online is to consider taking out protective insurance.
Shopping from Reputable Websites
One of the most common types of scams that can strike online shoppers is identity theft or credit card fraud. If a stranger gets hold of your credit card details, they can cause damage quickly. There are a couple of ways to combat this. One way is to only sign up for apps from reputable websites and shop on well-known websites. The best auction sites will have strong anti-scamming and security features put into place. Shopping on heavily advertised websites like eBay is one way to protect your personal information and avoid being scammed.
Types of Credit Card Fraud Insurance
Another option is to take out insurance specifically designed to protect you from credit card fraud. One type of insurance is a Zero Liability Guarantee, which means that you won’t be held liable should any unauthorized transactions taking place using your card. When you take out this type of insurance with your credit card company, you’ll usually need to agree to report your stolen card details as soon as possible. If you don’t report unauthorized transactions within the agreed upon time frame, you may lose your protection.
Rather than choose a credit card with a Zero Liability Guarantee, you can also look for Secure Identity insurance which allows you to cancel affected cards, arrange for replacements, and help you with police claims. If your identity is stolen, Identity Theft insurance can help you with a cash advance for emergencies and may cover the cost of replacing stolen items.
If you’ve purchased an item online that comes with a warranty, you may be able to extend this policy using extended warranty insurance. This is useful when purchasing electronic items in particular. Finally, purchase protection insurance covers online purchases against loss, damage, or theft, provided you use a credit card for your purchase.
Statistical data are revealing – Data has it that history of drivers who are aged 25 years and below are risky. According to survey, providers consider this particular age group to have the propensity to get engaged in accidents and filing for claims afterwards for the damage and injuries they suffer. For that reason, high premiums are charged to these young drivers.
Figures say it all. Information says that young drivers have less experience on the road and are more predisposed to find the thrill of driving faster. Many accidents are caused by young drivers who were under the influenced of alcohol and were driving drunk at night. These factors, coupled with the tendency of the young to be quite risk-takers when on the road often result to accidents.
Other contributory attributes – Insurance premiums are also influenced by the location of the residence, the educational background and the gender of the driver. This means to say that a female driver who is a college student and resides in the suburb will have lower premiums than a high school male driver who lives in the city. But then again, the premiums for the college female will also lean on the high side due to her age.
Depending on Mandatory Insurance Only
Insurance is mandated by law for every person driving a vehicle. It provides coverage for the damage or death that might arise from accidents involving the insured vehicles. Most young drivers are inclined to believe that mandatory insurance is the most excellent option for them, after finding that they can’t afford comprehensive coverage.
These young drivers do not realize that not all mandatory insurance provides coverage for any damages or injuries to the owner or driver. Should unfortunate events befall the concerned driver; financial burdens rests on his pocket or his family to shoulder the expenses. Thus, even though comprehensive coverage is more expensive, it is well worth it in the event of an accident.
Let your parents take you under their wings
Parental guidance and protection – In cases where a young driver has no capacity to pay for comprehensive car insurance, he might opt to be added to his parent’s insurance policy until the time that he can afford to pay for his own. In this way, a young driver can develop and maintain a good driving record until he is capable to pay for his own insurance. Hopefully by that time, he will have gained enough good credit standing that will allow him to enjoy discounts on insurance.
Education matters – Some insurance companies also take into consideration the educational attainment of the driver. A good scholastic performance might lower premiums. Enrolling in a safety driving course would be an excellent idea.
Prudence and good sense counts
Financial aspect – Insurance companies charge high premiums to young drivers because they tend to view new drivers as reckless. If you present yourself as someone who is careful where you park or keep your car when not in use or you install system that will thwart a would-be thief such as alarms and airbags in cases of accidents, insurance providers would think twice before they identify you as high-risk. You can show them that you are low-risk by not altering your car’s original design or you opt for low-key cars instead of the very flashy fast cars. This behavior will tell them that you are responsible and not a young risk-taker or reckless driver.
Sensible manners will propel you a long way towards obtaining affordable insurance premiums. Proving your worth as a sensible driver who does not make traffic violations and not getting involved in traffic accidents frequently can mean you will build up your good reputation as a driver which equals to no-claims bonuses and discounts. This would further mean that you can save on premium payments. For some young drivers, these might be difficult to achieve since it takes effort to act mature and not be tempted by peer pressure.
Insuring Imported Cars
If you have just imported a car and want to get insurance for it, you should be aware that you will have to pay higher premiums than you would a car that is American made. This holds true especially if your car includes customizations that allow it to run at very high speeds.
Why premiums for imported cars are higher than locally-made cars?
Since imported cars are manufactured outside America, they are modified to meet the standard of driving within the country. These cars are often customized to make them run at very high speeds compared to most American-made cars.
For this reason, many insurers refuse to insure them because they tend to get involved in accidents due to their capacity to run at very high speeds.
Imported cars are the rage amongst young male drivers who are already considered high-risk to insure considering their driving techniques and their inexperience driving. Due to this reason, most insurers have imposed age restrictions when they do insure imported cars to restrict the possibility paying a claim.
Some companies have also set limits on the number of modifications they will cover.
How to insure your imported car wisely
At present, you may encounter some difficulty finding the appropriate insurance for your imported vehicle.
Go for lower performing imports – Imported vehicles with lower performance are not as costly to insure as high performance vehicles.
Boost your car’s security to maximum – Imported cars have the allure for thieves because of their very nature, they are not made locally. Thus, if you want to optimize your car insurance, ensure the security of your car by keeping it at a safe place and never parking it on the street where it can be easy target for thieves. Outfitting your car with an excellent quality alarm and immobilizer would also be good and worthy investments.
Opt for a higher deductible – If you want to ensure that you get to pay lower premiums, you must opt for a higher deductible in the instance of a claim.
Minimize its usage – Using your vehicle on a daily basis raises the chances that it will be involved in a road mishap. If you want to pay lower premiums, you should use your imported car less often, as the likelihood of an accident is reduced, thereby also diminishing the chances of a claim. You should also be aware that if your imported car has been customized with speed enhancing alterations, you will likely pay for higher premiums or you might even be refused by insurers, as they are hesitant in insuring these type of vehicles. The likelihood that such imported cars will be involved in accidents rises up with these kind of modifications creating reluctance on the part of the insurer. Although you might likely be charged with much higher premiums, there are still ways to slightly decrease the amount. You just have to find ways to do this, without sacrificing the coverage and payout during claims.
When you purchase car insurance, you might not have glass replacement coverage in mind. However, it should be considered.
There are several things that could happen to your windshield and it would be a good idea to consider such a thing when you buy Car Insurance.
Is this really important?
Considering several factors, it is not really that important. However, restoring your windshield and having to pay for the expense can be quite a headache if you have not allocated any budget for it. A simple fracture on your windshield is estimated to cost $20 to $70.
Fully replacing your windscreen would probably cost you about $100 to $300 or more. Though not really that earth shattering, it could still make such an impact on your budget especially when your finances are tight. When the replacement of your windscreen is not covered, you simply pay for it yourself.
Insurance Prospective on your Windshield
Your can insurer can meet your auto glass needs in several ways. You might find the following in your existing insurance or prospective policy:
Specialty windshield repair deductible – If you have a high impact deductible, some insurance company will offer lower specialty windshield deductible.
Free repairs – Numerous insurers will repair simple fractures and chips and cover the cost.
“No penalty” repair policy – Premiums are likely to remain low due to the nominal nature of the damage.
Comprehensive coverage – Taking a comprehensive Car Insurance plan almost always means that repairs for your windshield will be part of the coverage.
None – This simply means that it is not covered by your present insurance and you would have to pay for the repair.
Your insurer will probably offer you various points of view on this subject. That is why it is important for you to determine what is included in the terms and conditions, especially in the fine print before taking the insurance.
You might get a free-repair or comprehensive coverage. That would all depend on the kind of insurance you have. Do not be caught unaware, be proactive and read the policy through before you sign. It is better to be ready than to be sorry later.
Understanding the impact
It might not be the deciding factor in getting particular Car Insurance but obtaining free windshield repair is still a great factor to consider when coupled with other attributes. These other attributes can range from getting free towing and labor fees.
Car Insurance coverage is most crucial especially when you need it the most. When considering your options, looking into the various coverage for minor things might have you consider a specific policy.
It could be as minor as free windshield repair that could finalize your decision in signing on a policy or it could be something else.