Cheap Insurance Life

Permanent life insurance provides lifetime insurance protection (does not expire), but the premiums must be paid on time. Most permanent policies offer a savings or investment component combined with the insurance coverage. This component, in turn, causes premiums to be higher than those of term insurance. The investment may offer a fixed interest rate or may be in the form of money market securities, bonds or mutual funds. This savings portion of the policy allows the policy owner to build a cash value within the policy which can be borrowed or distributed at some time in the future.

The characteristics of Permanent Life Insurance are: permanent insurance protection, it is more expensive to own; it builds cash value, loans are permitted against the policy; it has favorable tax treatment of policy earnings and it has
level premiums.

There are three basic types of permanent insurance: whole life, variable life and universal life. The two most common are whole life and universal life. Whole life insurance provides lifetime protection, for which you pay a predetermined premium. Cash values usually have a minimum guaranteed rate of interest and the death benefit is a fixed amount. Whole life insurance is the most expensive life-insurance product available. "Universal life insurance separates the investment and the death benefit portions. The investment choices available usually include some type of equity investments, which may make your cash value accumulate quicker. As the you can usually change your premiums and death benefits to suit your current budget".

Final Tips

• Consider buying a "break point" level of insurance coverage - better premium rates are given at coverage levels of $100,000, $250,000, $500,000 and $1,000,000.

• Make sure you obtain an illustration for the policy that you have chosen. If the insurer will not provide you with one, look for another insurance company.

• Always shop for a level-premium policy. Nobody likes a surprise increase in their premium payments! So, before you buy term or permanent insurance make sure your illustration shows that your premium payment is guaranteed not to increase over the duration of your coverage.

• Don't be sold on permanent insurance for the investment or cash-value feature. For the first two to 10 years, your premiums are paying the agent's commission anyways. Most policies don't start to build respectable cash value until their 12th year, so ask yourself if the feature is really worth it.

• Determine your desired duration of coverage so that you purchase the correct type of policy and keep your premium payments affordable. If you only need insurance for 10 years, then buy term. Also, check out multiple-quality insurance companies for their rates.

• Don't be taken with riders. A very few number of policies ever pay under these riders, so avoid things like the accidental death and waiver of premium riders since they will only jack up your premiums.

• For 24 hours before your medical exam, keep sugar and caffeine out of your system. It's best to schedule your exam early in the morning, and don't consume anything but water for at least eight hours beforehand.

• If your premiums are much too high due to medical reasons or you are denied coverage, check if a group plan is available through your company. These group plans require no medical exam or physical.

When seeking insurance, don't rush into buying expensive permanent life insurance before considering if term life insurance sufficiently meets your needs. Unfortunately, in many cases the fees charged for policies with investment features far outweigh the benefits. When you purchase life insurance, you're betting that you'll live, but also securing peace of mind in case you're wrong. Don't leave your family unprotected in the sudden event of your death - after all, they are your most important assets.

Breakdown Insurance

Who knows, you are going out for a long drive, and your car breaks down midway. Experts say that there is more than 10% chance of breaking down each year if your car is more than 3 years old. It is worse in the winter. You can avoid breakdowns by taking precautionary measures like re-servicing your vehicle each month. However, getting your breakdown insurance is a good option to protect you financially if your car vehicle breaks down when it is least expected to.

<b>Types of Breakdown Cover</b>

<b>Roadside Rescue:</b> If your vehicle breaks down outside a specific distance radius from your home, breakdown insurance would pay for the servicing amount except the charge for new parts. The company will provide you with other helps. However, the incident is at your home or within specified radius of your home, and then it won’t be covered.

<b>Home Rescue:</b> It covers the same as the roadside rescue; it extends the coverage to your house. It includes getting your vehicle checked at the local garage.

<b>Recovery Plus:</b> It covers both home and roadside breakdowns. It provides a hire car to either return home or continue your journey. And also it covers the cost of alternative transport to enable your journey or return home to be completed. If the breakdown happens a set of miles away (specified in the policy), accommodation in a local hotel while awaiting completion of repairs will also be provided.

<b>Continental Cover</b>
                                                                                                               

In UK, European Rescue Breakdown covers roadside breakdown in continental driving. It covers the charge of repairing or bringing your car back to UK in case your car can’t be repaired. However, it doesn’t cover the charge of new parts. So, it is always wise to have this insurance, if you are driving across Europe as you can face fees for roadside assistance charge for every kilometer your car is being towed. 

<b>Partners and Family</b>

Some policies also cover spouse or partner; however check it with the insurance company. Some companies look whether your spouse or partner is living with you at the same address. Family cover includes you, a partner and usually two children under 21 living at the same address as you. Check whether your policy covers all the persons traveling in the car.

You need to wait nearly 25 minutes to an hour for a roadside assistance. Some policies fix the number of calls to five or six each year. You may get more if you have a joint cover or family cover. If you exceed the limit you must pay for the assistance. Policies do not cover the cost of new parts. Some policies do not cover trailers and caravans. Animals are usually not covered.

Auto Coverage Analyzer

Buying a car means taking a well thought out decision. However, sometimes taking a well-thought, wise decision gets difficult. This is even more so, when it involves a big investment decision like buying car and insuring it. One wrong decision and you might end up in a financial soup. Once you have already bought a car or you have owned a car for sometime now, it is time for getting it insured.

<b>Factors</b>

Now, when we come to think of car or for that matter any auto insurance there are quite a few factors that have to be considered before settling for a particular market offer. Analyzing these factors would determine which auto insurance policy suits your needs the best. Or else you might end up paying too high premium or not taking enough coverage for your automobile. First of all one has to consider what is the purpose of owning it. Whether it is for personal use, used as public transport such as private taxi, or used in transportation of heavy duty or light duty industrial goods or is it put to some other use. Age is also a major consideration. Old vehicles have to pay higher premium as compared to the new one. Type and model of the vehicle also play a major role. Like wise there are N number of factors that need to be checked out.

<b>Getting The Right Insurance</b>

When you buy auto insurance online there are large numbers of sites that offer auto insurance on each site there are quite a few number of market offers. This makes online shopping for the right kind of auto insurance a tedious task. However, there are some sites that provide automated tools that assist you in determining what kind of auto insurance would work the best for you and how much coverage do you need. These tools or auto coverage analyzer can go a long way in helping you save a whole lot of money on auto insurance.

Wrong auto insurance would leave you paying amounts that are too high and paying extra for coverage you may not need. On the other hand, if you choose amounts that are too low, you risk being uncovered in case of an accident. Thus, whether you're shopping for new auto insurance or renewing your existing policy, Auto Coverage Analyzer can help you make the right coverage choices. All you have to do is answer a few question about your financial standings and your automobile conditions, price tag, coverage needs etc and the auto coverage analyzer would automatically generate coverage category wise auto policy value recommendations and explanation as to why is it needed.

Long Term Care Insurance Should I Get This?

Yes, you may want to consider a long term care insurance plan if you don’’t want to drain your retirement savings and other investments in the future! It is currently estimated that nursing home costs are more than $10,000 per month. Imagine, how much this will cost you on an annual basis if you had to pay this money out of your pocket if you needed care from a nursing home! This would be financially devastating without long term care insurance.

Did you know that prior to the passage of the Deficit Reduction Act of 2005, most Americans were able to count on Medicaid to assist them with long term health care. The Deficit Reduction Act changes all of that. This new law places the majority of long term health care costs on you, especially if you have assets. Unfortunately, middle class Americans will be hit the hardest with this new law.

How does the Deficit Reduction Act affect me if I need nursing home care and have assets? Well, for the most part, you will need to exhaust your assets before you will be eligible for Medicaid. Under this new law, there is a five year look back period from the date that you apply for your Medicaid benefits. This five year look back period, is to ensure that you have not transferred assets to relatives, friends, or other individuals. If you have transferred your assets to someone, Medicaid will count this against you and you will have a period of penalty wherein you will not qualify for benefits. Basically, this means that you could be out of money and Medicaid will not pay for your nursing home care!

The other side of this new law is that even if you have not transferred your assets to someone, you cannot have more than $500,00 in home equity. The majority of your assets including trusts and annuities are viewed differently under this new law.

It is important, that you consider long term care insurance as part of your retirement planning. With passage of the Deficit Reduction Act of 2005, it is a must! Unless you are independently wealthy and don’’t mind coming out of your pocket with more than $10,000 per month for your prospective nursing home care! For the average person, this would be a severe financial hardship.

What age should I consider getting a long term care insurance plan? You may want to consider in your early to mid fifties. However, it is recommended that you consult your insurance agent or financial advisor about this.

Planning is important, in order to assist you in eliminating a potentially devastating financial disaster. You want to live out the golden years of your retirement as stress free as possible. So make sure you plan for your future long term health care needs!