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Dec
18

E & O Insurance For The Judgment Recovery Business

I am not a lawyer, I am a judgment and debt referral specialist (Judgment and Collection Agency Broker). This article is my opinion, from my experience in California, and laws are different in every state. If you want legal advice or a strategy to use, please contact a lawyer.

Anyone with a new debt collections or judgment recovery business will think more than once about which type of insurance they should purchase. There are risks in every business, and the risk of getting sued is one of the more important risks to consider. A judgment recovery business may have at least five more (although very rare) risks, in addition to the normal risks of any venture or business:

1) What if you die, or become disabled, or leave the judgment business and do not assign all or most judgments back to the original judgment creditors? You or your executors could get sued, and even worse, sued for the creditor’s share of an overly optimistic and purely theoretical value value for a judgment.

2) Letting a judgment expire during your watch. Judgments must be renewed, if one fails to renew a judgment, it is lost. Again, an original judgment creditor could attempt to sue you, for a way too optimistic and theoretical judgment value.

3) FDCPA and FCRA violations. Judgment Enforcers need to know of the laws. Being discreet, staying polite, having common sense, and taking care not to accidentally or purposely notify third-parties about the debtor’s debt, covers you on most of the laws. If you violate a law, the debtor could hire an aggressive lawyer, and sue you for a lot more than the judgment’s face value.

4) Having the sheriff levy the wrong person’s bank account. Because courts do not usually put debtor’s dates of birth and social security numbers on judgments, judgment debtors having common names can be problematic. Also, identity-theft can make the wrong person show up as the judgment debtor.

It can use a lot of time to verify things, if someone claims you had the sheriff levy the incorrect person as the judgment debtor. Most that claim they are not the debtor will be angry, and an average of half of such persons will be lying because they are actually the judgment debtor.

If you do pay the sheriff to levy the wrong bank account, immediately return the money taken from the mistaken judgment debtor the amount levied, their bounced check and banking costs, and something extra for their trouble – enough extra to eliminate their anger. One suggestion would be 3 times their costs, or $ 100, whichever is more.

5) Unreasonable or insane original judgment creditors. Some do not understand the costs and difficulties of judgment recovery. Some may attempt to sue you if you settle too low, do not challenge a judgment debtor’s bankruptcy, lose a motion to vacate the judgment – even when it isn’t your fault, or your action or inaction was the correct action to take. Even if the original judgment creditor has no valid reason to try to sue you, it could happen.

While one might get sued, for one of the possibilities listed above, it is usually rare that the party suing you would win. However, lawsuits are always expensive, a hassle, and time consuming.

Insurance almost never covers you if you intentionally avoid your responsibilities. If you become disabled or die, this becomes a preparation and behavior issue, not an insurance issue. Your executors should know they should assign your judgments back to the original creditors, unless you have another way to have the judgments handled.

In a judgment business, you are more likely to be sued, long before you die or become disabled. Often, the only insurance you would need is if you get if you get sued. The kind of insurance that often comes to mind is Errors and Omissions (E&O) insurance.

E&O insurance is common in many businesses, however it is more difficult to get in a judgment recovery or collection business, mostly because many insurance companies do not fully understand these kinds of businesses.

There could be an argument that because most judgment recovery specialists are sole proprietors working from home, representing themselves, their homeowners insurance would cover them for “personal liability” resulting from their ownership of judgments. Home insurance policy salespeople do not brag about this, and many are not even aware of this, however the details of the policy often support this. (I am not an insurance or a legal expert.)

If that last paragraph does not sound right, or if you use a business office, your homeowner’s insurance policy is off the table. Forget about using a bond, unless it is required by by law or by someone you are doing business with. Bonds do not protect you, they protect the general public against loss. You must pay the bond premiums, and then you have to pay the bond company every time a claim is filed.

You may want to buy E&O insurance, if only to meet the requirements of a few data providers. If you search, you will find E&O insurance providers for a collection or judgment business. (One of the cheaper places I have found is at www.rlicorp.com). E&O insurance is sometimes expensive, and when you get sued, you have to immediately pay the deductible, which is not cheap. The insurance company handles the lawsuit, not necessarily with a goal of protecting your business and name. Even when the lawsuits are frivolous, you still must pay.

Another problem with buying E&O issuance is that it could place a “bulls eye target” on you. Some may believe that if you have E&O insurance, you have deep pockets. Many of the valid reasons you can be sued may be greatly minimized if you learn the law, assign judgments back when appropriate, you remain reasonable, and don’t allow judgments expire on your watch.

Unless you must have E&O insurance for someone you are doing business with, or a data provider, you may save money with your attitude, actions, and your willingness to retain a good attorney if you get sued. Most of the time, if you are careful, and get sued once in a while for mistakes and oversights, or for frivolous reasons, what you pay a lawyer over the long-term will be less than the long-term cost of buying E&O insurance.

As mentioned before, E&O insurance could make one a target. If you are sued with a frivolous lawsuit, it might be a good idea to ask the other side’s lawyer who their E&O insurance carrier is?, knowing that E&O claims are expensive and must be paid immediately. Also, many of the FCRA and FDCPA law applies mostly to consumer debts such as credit cards and car loans.

http://www.JudgmentBuy.com – is the best and fastest judgment and debt solution, where Judgments and debts quickly get recovered by the very best – matched to your debtor.

Mark Shapiro – Judgment and debt Broker – best quality free leads for collection agencies and contingency collection attorneys.

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 December 18th, 2016  
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Nov
27

Insurance: When Life Insurance Is A Pot of Gold

Don’t cancel your life insurance policy without reading this first! Depending on your situation, you may be losing tens of thousands of dollars if you do. If you have a life insurance policy that you no longer can afford or need, consider selling the policy. Read on to find out how.

Lots of investors have life insurance. Most people think the only way to collect on a life insurance policy is to die first. But there’s another way to benefit financially from a policy while you’re still alive and kicking. It’s called a life settlement.

There are a lot of companies that buy life insurance policies. These companies aren’t buying policies to do you a favor; they buy them as an investment.

When they buy a policy, they pay you up front and take over payment of the premiums. The amount they pay will vary on several factors, but usually averages to about 15% of your policy’s face value. You benefit by getting more money out of your policy than if you cancelled it or surrendered it.

Not every life insurance policy can be sold. In general, the policy holder usually has to be age 55 or older with a life expectancy between 2 and 12 years. The insurance policy has to be transferable. It must be a universal life, variable universal life, second-to-die or term life policy. Face amounts need to be at least $ 100,000.

Several changes in your life could cause you to consider a life settlement. Estate tax law revisions might mean your heirs no longer face a hefty tax bill at your death. Perhaps your universal life premiums have become too expensive for you, or maybe you no longer have to worry about replacing your income.

In these situations, you have several options. You can view your policy as an investment and keep it. You may be able to lower your amount of coverage. You can let it lapse or surrender it for its cash surrender value. But sometimes a life settlement is a better solution.

For instance, because of estate tax law changes, a lady in her late eighties no longer needed her universal life insurance policy. She didn’t want to keep paying the premiums on her $ 600,000 policy. Instead of canceling the policy for the $ 518 cash surrender value, she sold it instead for $ 80,000.

A recently-retired gentleman had a universal life policy for $ 1,000,000. He became very ill and was having trouble paying his medical bills. He passed on the $ 2,128 cash surrender value and collected just over $ 100,000 through a life settlement instead. This allowed him to pay for the medical care he desperately needed.

Keep in mind, though, that these people received far less than if they held the policy until death. For those considering a life settlement, there are a few words of caution. Be aware that the commissions on life settlements can be as high as 33%. These commissions are negotiated between the advisor and the purchasing company, but are not always disclosed to the client. If your state doesn’t require such notification, make sure your advisor clearly states their cut.

Have your advisor show you offers from several companies. You will want to know the gross offer, the commission and the net amount you will receive. An advisor may recommend a company based on which pays them more, not you.

Beware of advisors who approach you about life settlements. In this case, it’s far better to be the pursuer than the pursued.

There is a big difference between selling your policy and buying someone else’s policy as an investment. I don’t believe any small investor should buy someone else’s life insurance policy as an investment. These were sold as ‘viaticals’ over the last several years and many took the bait to their regret. Don’t buy a viatical!

Life settlements aren’t for everyone. You need to make sure your life insurance needs are properly met and you’ve carefully considered all the pros and cons before making your decision. But in some circumstances, a life settlement can be a wonderful way to dip into the pot of gold sitting in your life insurance policy.

Nationally-syndicated financial columnist and Certified Financial Planner Jeffrey Voudrie provides personal, in-depth money management services and advice to select private clients throughout the USA. He will answer your financial question FREE at http://www.guardingyourwealth.net
 November 27th, 2016  
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Nov
21

Over 300 Life Insurance Articles: How Much? What Kind? and Why?

Whether you own a business or are employed by one, you know that life insurance is an important part of your financial security equation. Some say it is a precaution that all families should take. I say that it is the most important precaution.

Lots of people – especially our lawyers and accountants – have opinions about what kinds of life insurance we should own. For example there’s universal life, whole life, term and a raft of policies that combine elements of them all.

Universal Life is a flexible-premium, adjustable benefit policy that accumulates account value. Maybe that suits you, your family, your savings patters etc.?

Some experts content that life insurance is protection against lost income– no more, no less. If that’s your opinion – and you know precisely how long that protection against a loss of income will last, maybe a term insurance policy is right for you.

Term was the original form of life insurance. It was conceived as protection for a specific term of time – like how long it would take for your ship to sail from England to New York and back. After you returned and were celebrating in the pub, well – you’d be on your own for that.

Whole life is so named because it’s designed to stay in force throughout your life. The idea was that you might get killed while you were flashing all the money you made on your last voyage to the thugs that hung out at the bars along the wharf and if you survived that, it would be time for your next voyage across the Atlantic.

Eventually the actuaries figured out a way to provide you with a level premium year after year and if you beat the odds and didn’t go down at sea, get knocked off in a bar, run over by the fire brigade, or contract some dread disease – social or otherwise, they’d give you some, all, or more of your money back.

As you can see, life insurance is a risk management tool available to protect against loss of life, yours. Which life insurance should you own? Which is more or less expensive – how do you define expensive anyway – permanent or term?

Most people prefer permanent life insurance because it is intended to provide protection for your entire life, and experience teaches us that as we move through life – needs change but they never go away.

Life insurance to protect the young family morphs into insurance to pay the mortgage on your second home or to guarantee your son’s and daughter’s graduate school (in case they don’t make it in pro ball).

The need for life insurance continues as a way to guarantee your grandchildren’s education, which later becomes a need for life insurance to subsidize funds set aside for your retirement. And then there are all those pesky “final expenses” – paying for the things you committed yourself to, when you thought you would life forever.

With level premiums and the accumulation of cash values, whole life is a good choice for long-range goals.

Don’t get me wrong I am not putting down term insurance. It gives you the protection you need immediately and cheaply (in terms of the money you spend for it today). It offers the most affordable protection for your family. And isn’t this why you buy life insurance in the first place?

Beyond term insurance, which you can buy for almost nothing online, and permanent life insurance that, in my opinion, requires that you have a close personal relationship with a trained and experienced life insurance agent – there are all sorts of hybrids.

For example universal Life, a variation of Whole Life offering more flexibility while providing a permanent death benefit to those who depend on you. Or variable universal life, a form of cash-value insurance with even greater flexibility over time.

So, depending on your needs you may choose a term, universal, variable universal, whole life or guaranteed issue life insurance policy. With all these variations you will be able to find a combination of coverages that suits your personal circumstances.

Life insurance is a long-term commitment, but so are your responsibilities to your family and your business. Life insurance brings money TO your family and business so YOU can keep the promises you made.

How much and what kind of life insurance do you need? What is right for you today? How can you figure that out on your own – so you won’t fall prey to sales people who are better prepared at selling what they have than you are at buying what you need?

That’s why I wrote this article. I figured that the more you know the better decisions you are likely to make.

Wayne Messick is an investigative reporter whose web site offers over three hundred life insurance articles at http://www.ibizresources.com/life_insurance/index.html His comments appear daily on the company’s blog.
 November 21st, 2016  
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Nov
19

Tips for Finding Cheap Life Insurance

Cheap life insurance is out there, if you know what you’re looking for. That’s why it’s important to do your research. You’ve got to educate yourself on the various types of life insurance policies that are available, including additional benefits that may or may not be offered.

Plus, you should make an effort to research your options as they relate to the various life insurance companies. It’ll be to your advantage to know what you want and need in terms of cheap life insurance before you start getting quotes.

Term vs. whole life

The first big determinant of cheap life insurance is the type you select. Term life insurance will almost always cost you less than whole life insurance. Term insurance is purchased for a specific period of time, for a specific face value.

Whole life, as the name implies, provides life insurance benefits for the rest of your life, whether that ends up being 10 years or 50. Whole life insurance policies generally have a cash value aspect meaning you’ll pay more in monthly premiums. The amount over and above that which is necessary to cover the premium is used for investment purposes.

Even if you do choose whole life insurance, your costs can be lower if you look around for a policy that has lower fees. The fees you want to pay attention to aren’t really fees, they’re commissions. Commissions can eat away at the cash value of your whole life policy. When researching, look for the term, “low load” as that generally means lower fees.

But be careful. You’ll find this type of life insurance won’t be cheap if you withdraw funds. When the policy’s cash value is greater than the premiums paid, you’ll likely have to pay taxes. A loan against the cash value may have the same end result.

Think long and hard about this type of life insurance policy; it’s not meant to be a substitute for a more traditional type of investment plan. And the premiums you’ll pay will be hefty.

Steer clear of guaranteed issue policies

Also when looking for a cheap life insurance policy, you won’t find it in a “guaranteed issue” type of policy. These policies are guaranteed to cover anyone, regardless health. No medical exam is required but that convenience comes with a big price tag.

Because the life insurance company is taking a substantial risk by insuring individuals without knowing their state of health, premiums will be high. If you’re healthy, opt instead for a traditional term policy.

If you’re not healthy, taking steps to improve your health may help you find cheaper life insurance. Lowering weight, blood pressure, and cholesterol levels are beneficial steps. Kicking the nicotine habit is also advisable. The better your health at the time of application, the cheaper your life insurance premium should be.

Finally, to get cheap life insurance, purchase just what you need. Reevaluate your life insurance needs periodically and adjust upwards or down as necessary. The bottom line: Finding cheap life insurance is possible, but it does take work.

Find Cheap Life Insurance in the UK. You will not believe our low insurance rates. We challenge you to find lower.

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 November 19th, 2016  
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Nov
07

Whole Life vs. Cheap Life Insurance

Term life insurance is generally the cheapest form of life insurance, but it’s not the only option. Unlike term coverage, in which only the face value is paid out upon your death, a whole life policy accrues a cash value.

In order for the cash value to increase, money over and above that which is necessary to cover the premium must be collected. Because of this, whole life insurance rarely will be the cheaper of the two.

With a whole life insurance policy, a portion of the premium you pay will be used to invest in mutual funds, stocks, bonds or other type of interest bearing investment.

Even though whole life is not as cheap as term life insurance, such a policy can make sense if it’s managed properly.

Benefits of Whole Life Insurance

One of its best benefits is that it will cover a person for his or her whole life. Once the policy is purchased, it will never have to be renewed. It will remain in effect until you die provided you do not allow it to lapse or be compromised in some other way. In addition, the amount you pay for the premium will never change which makes it easier when you’re trying to budget.

Another benefit is that you have access to the cash value the policy accrues. You can borrow against the cash value just as you would another type of loan. No one has to approve a loan made against your whole life insurance cash value. You are the one who gets to decide how you’ll use the money.

If you’re not restricted to purchasing only the cheapest life insurance, whole life is an option worth considering. Universal life insurance, which is a variation of whole life insurance, gives you more flexibility in your premium, the term and death benefits, but this flexibility does come with increased risks.

However, since universal life insurance premiums are flexible, it sometimes is the cheaper of the two.

The potential disadvantages

Whole life insurance does have its downsides. One is that it’s not possible to guarantee a rate of return on your investment so it may not pay the dividends you expect. Another fact worth noting is that a whole life policy probably won’t have a cash value until a minimum of 3 or even 5 years so if you surrender the policy during this time, expect it to be costly.

The debate rages on as to whether it makes sense for anybody, regardless of age, gender or marital status, to purchase anything other than the cheapest term life insurance policy.

Some critics believe that if you took the extra money you’d pay in premiums and instead deposited it into a savings account or other low-risk interest bearing account, you’d accrue more savings. True or not, whole life is an option many people do take advantage of.

And while it may not be the cheapest form of life insurance, it does seem to meet the needs of those who purchase it.

You will be hard pushed to find such Cheap Life Insurance in the UK. You will not believe our incredible low rates.

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 November 7th, 2016  
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Oct
28

Homeowner’s Insurance FAQ’s: Understanding Homeowner’s Insurance

What is the difference between Reconstruction and Replacement Cost Coverage? – It is important to understand that the reconstruction cost (replacement value) is the amount that the insurance company estimates it will cost to completely rebuild the property from the ‘ground up’ with like-kind materials at the current labor rate and materials cost for the geographic area in which the property is located. This amount also includes often disregarded or forgotten ‘soft costs’ such as architectural fees, permitting fees, and the cost of demolishing and/or removing the damaged structure prior to rebuilding. From a strictly insurance-based perspective, the reconstruction cost of a home has absolutely no relation whatsoever to the property’s purchase price, the mortgage loan amount, appraisal value, or market value. In other words, the reconstruction cost is a completely independent value with no correlation at all to any other property-related value. For example, you may have purchased a property that appraised at a market value of $ 230,000, but because of the seller’s personal situation you were able to negotiate terms and purchase it for $ 180,000. After providing a 20% down payment of $ 36,000, your mortgage loan balance is only $ 154,000. Although there are several different values associated with this property, none of them have anything at all to do with what it may actually cost to completely rebuild it after a loss.

How Are Reconstruction Costs Determined? – Another common area of misinformation for property owners is regarding how a property’s reconstruction cost is actually determined by the insurance carrier. As opposed to common belief, this is not simply a ‘blind guess’ as to the cost of replacing the property. This formula is a little complex and it may vary somewhat from company to company depending upon the data points used, but the process (which is simplified below) is generally the same. Most companies in the United States pay an enormous amount of money each year in order to have full access to the Marshall & Swift/Boeck (MSB) construction database. This is an experienced and well-respected third-party company that maintains accurate construction costs (materials and labor) for every single zip code in every county in the United States. This database is updated every 90 days and it is usually very accurate. When requesting a new quote for property insurance, you agent may ask you many questions regarding the property’s physical features, such as the square footage, number of stories, construction type, roof material, exterior walls material, what floor coverings are used, etc. The purpose of these questions is to understand exactly how your property is built so that this information can be input into the carrier’s reconstruction cost software. Once this data has been obtained and input into the system, the software works with the MSB database to compare labor and material costs for the area and determine a fairly accurate amount of what it is expected to cost to rebuild the property at current labor and material rates. The reason that two different companies may have two completely different reconstruction costs even when using the same data has to do with how the company calculates its own internal cost estimate, not with the MSB database. For instance, company ‘A’ may develop a reconstruction cost of $ 100,000, but within their internal calculations, they may add an additional 20% for labor costs, 5% for ‘soft costs’, and 22% for materials while company ‘B’ uses only the hard costs provided by Marshall & Swift/Boeck. The purpose of this is to err on the side of caution and attempt to include an additional margin in order to offset any unforeseen fluctuations in actual costs after a loss. Each company’s reconstruction cost formula is proprietary and agents have no idea exactly how each company calculates the end cost or what margins are included. All agents have access to is the final estimated cost of replacement.

Can Two Properties Built Exactly Alike Have Different Reconstruction Costs? Absolutely! Labor and material costs can vary a great deal from one geographic area to another. For example, here in Texas a home in El Paso may have a reconstruction or replacement cost of $ 150,000; however, that same house with the exact same size and physical features, may have a reconstruction or replacement cost of $ 210,000 in Houston. The reason for this, as has already been mentioned, is due to the local building codes, labor rates, materials costs, and other such issues.

Why Are Reconstruction Costs for New Properties More Than the Builder’s Sales Price? – One common point of disagreement between an insured property owner and his or her insurance company is that of the reconstruction cost of a property being a great deal more than the actual purchase price of a new home that was only recently built. From the customer’s perspective, he or she may have only paid $ 200,000 for the property, which includes the builder’s construction cost as well as the equity, land and everything else involved, but the insurance company determines that the replacement cost is actually $ 225,000. The customer often can’t understand why the reconstruction cost for the insurance company is so much more than for the builder and he or she often argues that the property is being over insured. This is a logical point of view; however, it is simply not the case. When a tract builder constructs a new home, their cost of construction is far less than that of a custom builder. The reason for this is simple. When a tract builder constructs a new home, he or she is usually building a great many more at the same time and in the same subdivision or geographic area. This means that the builder is often purchasing millions, if not tens of millions of dollars, of supplies and materials in bulk. This allows the builder to obtain huge volume discounts on pricing which greatly reduces his or her construction overhead. In addition, the builder may use the same labor crews for framing, concrete work, and all other phases of construction. Because the builder is supplying a steady flow of repeatable work to his subcontractors and these subcontractors are working for extended periods of time in the same areas, the labor rate is also greatly reduced. This is not the case with regard to custom builders. Rebuilding a property is always more expensive than first-time new construction. If your two-year home that you purchased from the original builder for $ 200,000 is destroyed in a fire, the contractor or builder that you hire to rebuild the home will not have the same deep discounts on his labor and material costs. In addition, he will have the added expense of obtaining new blueprints, architectural and permitting fees, debris removal, etc. which the original builder either did not have or which was also greatly reduced. This means that your $ 200,000 home may cost $ 250,000 to rebuild.

Why Do Older Properties Often Cost More To Rebuild – It is also important to understand that older properties may cost even more to rebuild. In addition to all of the other aspects already described, older properties may have unique architectural features that are difficult to replicate with today’s codes and materials and some of this work may require craftsman specializing in such things as tin ceilings, ornate molding, and similar work; all of which increases the construction cost.

Are Reconstruction Costs Automatically Updated When My Insurance Policy Renews? Yes and no, it depends upon the company issuing the policy. Most standard companies automatically re-process the reconstruction cost when a policy renews using the information previously provided. This is why property owners may see both their premiums and reconstruction costs increase on an annual basis. However, if there have been any improvements or alterations made to the property, such as room additions, elevation changes, interior remodels, or other such changes, the reconstruction or replacement cost listed on the policy will be inaccurate as it does not include these new modifications unless the insurance company is notified and this new data is included. This is why you should always contact your agent any time you make changes to your home or property that may affect what it ultimately costs to rebuild.

In summary, there is much more to properly insuring your property for its actual replacement value than simply pulling a number out of the air. There is a methodical and well-established process for determining actual costs that may be incurred and there is little or no relationship between the reconstruction cost of a property and the loan amount, appraisal, taxed, or market value. These numbers are all completely independent of one another and it is your responsibility, the property owner and insured customer, to make certain that your policy contains enough coverage to completely indemnify you (make whole financially) or replace the property in the event of a loss.

Understanding real estate can seem daunting but is really pretty simple if you read and follow this advice from Philadelphia Real Estate agent Frank L. DeFazio. Frank has extensive background in all types of Center City Real Estate transactions.
 October 28th, 2016  
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Oct
23

How to Choose the Best Life Insurance Policy

Is it possible for buyers to end up with the best life insurance policy? Let’s face it. If you’re not an experienced life insurance agent, it’s very easy to get overwhelmed by this subject.

Understanding the differences between the types of life insurance policies available today and their associated fine print is something people need to do for themselves, by themselves, if they want a chance at getting the best life insurance policy.

If you leave your decision up to your agent, you may not get the best life insurance policy, but your agent likely will earn the best possible commission. Although that may sound harsh, there is some truth to that statement. Life insurance is a product and most life insurance agents earn commission on the products they sell.

Do your research

As mentioned above, a good place to begin the process of finding the best life insurance policy is to understand the two main types of life insurance. The easier of the two is “term” life insurance. This policy will be in effect for a pre-defined period of time.

Term life insurance can be purchased for 1 year, up to 30 years, or any period of time in between. A term life insurance policy provides a cash payout at the time of your death, provided you die within the term purchased.

The other type of life insurance policy is called “cash value.” It covers the policy holder for the duration of his or her life. This type of policy pays benefits upon death but it also has a cash value that grows over time. The policy holder is able to draw upon the cash value before death.

A cash value policy is often referred to as a Universal Life or a Whole Life insurance policy. This may be the best type of life insurance policy if you are looking for a way to supplement your retirement income.

However, it’s also what makes cash value life insurance so much more difficult to understand. Among other things, such a policy involves selecting investment funds and paying investment fees that can be expensive. It frequently requires a certain ratio of death benefit to cash value in order to remain in effect.

And any amount that is borrowed can be subject to taxes, depending on the scenario in which the money was borrowed.

Simple is not always better

It’s easy to make the assumption that term life insurance is the best type of life insurance policy, and it can be, provided the policy holder dies within the term. If death does not occur, the policy will simply expire. Policies of this type often include an option to renew, but when this happens, you can expect premiums to be much higher.

Do your research, understand the terminology involved as well as the pros and cons of the various types of life insurance, and when you do sit with your agent, you’ll be able to select the best life insurance policy.

Find the Best Life Insurance Policy in the UK. You will not believe our low rates.
 October 23rd, 2016  
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Oct
16

How to get the best child life insurance quotes

Getting child life insurance quotes on the net can be convenient, but are you sure that you are seeing the big picture?

You can see life insurance information child policies, but the words can be cryptic. The child life insurance coverage information could be well-hidden online too! Because child life insurance costs money, it’s important to know precisely what life insurance coverage you can get. It may be best to talk to an authorized life insurance agent.

Question You Should Ask About Your Child Life Insurance

Is child life insurance really worth the premiums? Many question the importance of child life insurance. After all, if anyone needs to get insured, shouldn’t it be the working parents? While this is indeed a valid argument, there are advantages to getting child life insurance.

It’s not so much the benefits as it is about future eligibility. Child life insurance is especially important if your family has a history of medical illness. You see, if you get child life insurance, your child can automatically get any type of life insurance later on.

Most types of child life insurance are actually term life insurance. Child life insurance often does not build cash value and has small premiums. In order to be competitive, some life insurance agencies are providing child life insurance some features similar to whole life insurance. However, child life insurance ends when your child matures, so the cash value benefits are very minimal.

As a general rule, parents should first get themselves insurance, before their children. Because the main purpose of child life insurance is future eligibility, parents will do well to just get the cheapest child life insurance package.

Beyond everything else, they must make sure that the child life insurance will allow their children to have immediate access to life insurance later on.

Jon Butt’s www.which-life-insurance.com is one of the web’s leading independent Life Insurance resource sites offering genuine up-to-date advice on the different types, cover levels, the top life insurance companies and their plans, how to buy online or through local brokers. Business, family child and individuals are all covered in this easy insurance guide

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 October 16th, 2016  
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Oct
13

Life Insurance and More

Life insurance has two different types, term life insurance and whole life insurance. There are many differences between these types of life insurance, which include the money paid in and cash value, the years covered by the life insurance policy, and the value of each.

Everyone knows life insurance is a good investment to provide money to your family years after your death. Life insurance companies offer many policies, including critical illness cover, but the main types of life insurance and term life insurance and whole life insurance. Either type of life insurance will have a cash value upon your death. There are specific benefits to each type of life insurance that have to do with the cash value, tax procedure, and years in the policies. There are many ways to find out more about life insurance, like visiting life insurance companies for life insurance San Jose or life insurance Fremont. Following are the basics of life insurance.

Term life insurance and whole life insurance have different rates.

The cost of life insurance depends on whether you get term life or universal life. Universal life insurance policies cost more than term life insurance policies. With universal life insurance policies you have to pay the insurance value and another amount of money for investment. Term life insurance usually requires less money for the policy, and the price stays for the term.

Term life insurance and universal life insurance have different coverage years.

Universal life insurance is designed to cover the whole life of the policy holder, as long as they pay for all of the years until their death. With universal life insurance it does not matter how old you are when you die, the family will still get the cash value. A term life insurance policy will last for a certain number of years. During the policy years the family gets the full cash value upon the policy holder’s death. It is common for term life insurance policies to cover between 1 and 20 years. After the term life insurance policy years end the policy holder does not get any cash value from the life insurance.

A universal life insurance policy includes money investments as part of the policy.

A universal life insurance policy includes investment of the money you pay in. After the death of the policy holder the money from the universal life insurance policy will be paid out from the investments. Insurance companies invest the money from universal life insurance policies in bonds or stock to add more cash value behind the life insurance policy.

Term life and universal life insurance cover different requirements.

A universal life insurance policy is designed to leave the family of the policy holder with plenty of money after the death to cover the funeral and life costs for a few years. Universal life insurance policies can also help to cover inheritance tax. A term life insurance policy is a better fit for a family that does not have extra cash to put into an insurance policy. A term life insurance policy can be smart while a family is paying off a mortgage.

Either type of life insurance will be valuable to the family upon the policy holder’s death. It is important to weigh the benefits of term life insurance and universal life insurance before buying an insurance policy from the insurance company.

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Everyone knows life insurance is a good investment to provide money to your family years after your death. Life insurance companies offer many policies, including critical illness cover, but the main types…. Learn more at life insurance san jose and

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 October 13th, 2016  
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 Life  
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05

Who Should Buy Term Life Insurance?

There are a wide range of life insurance products that are floating in the market. Choosing the right life insurance policy involves assessing your particular situation and evaluating the right policy for you. It is imperative to choose the right life insurance that fits your bill or which can be customized to suit your particular needs.

Unlike whole life insurance, term life insurance is purchased to cover a limited term period. Term life pays the insured sum only when the insured dies within the time span of the policy. Term life policies do not accrue any cash value. So if you live past the length of the policy, you won’t receive any money. It is also important to understand that premiums for term life policies may not be fixed, and may increase from time to time. To avoid this, be sure to look for a guaranteed level premium term life insurance policy. These policies guarantee a level premium throughout the term period.

Advantages of a Term Life Insurance

Term life insurance covers the maximum insurance for your money. It can be beneficial for those families that have more financial obligations than current assets. Here are some of the advantages of a term insurance:

Affordable
Term life insurance offers the most affordable premiums against high death benefits.

Simple
Term life insurance is the most simple life insurance product available in the market.

Competitive Pricing
Since term life policies are simple in nature, they can be easily compared on the basis of price and features. This makes term life insurance an appealing commodity in a very competitive market.

Flexibility
Term Life policies may include “renew ability” and “convertibility” options. The renew ability feature enables you to renew your term policy at the end of the term, without having to undergo a medical exam. A convertible feature allows you to convert your term life policy into an equivalent whole life policy, which accrues cash value, should you feel the need to switch to a permanent policy.

Waiver of premium
There is an additional optional feature called “waiver of premium”, which means that in the event of your inability to pay premiums due to circumstances stipulated in the term life insurance contract, the insurance company will waive payments for a stipulated time. However, this feature comes with an extra charge.

Short Term Coverage to Suit Your Needs
Term life is suitable for short term coverage. If your mortgage can be paid up in ten years you may want to choose a term policy for ten years. Most people do not envisage requiring life insurance in their senior years, so a term life policy makes sense for short term financial planning.

Deciding If a Term Life Insurance Policy is Right for You
Deciding the right life insurance policy is a very important step in securing your family’s future. If you are looking for a low cost, budget friendly life insurance plan, choosing a term life insurance policy would be your best option. Moreover, term life insurance is a good choice for people on fixed incomes and with a growing family. If you have a mortgage, educational loans, estate taxes or other liabilities, your sudden death would place an overwhelming financial burden on your family. Term life insurance provides high death benefits at the most affordable rates. This is why term life policies are the most popular life insurance policy. You should determine the amount of life insurance coverage that enables your family to clear all debts and provide a tidy some for their future. You may want to include college funds for your children in your coverage.

Here is a quick check-list that can help you to decide if a low cost term life insurance policy is right for you:

* If you’re on a budget and cannot afford a very high premium.
* If you are young, and in good health. You can take advantage of low premium rates.
* If you are looking for a simple, straight-forward, low cost life insurance plan to protect your beneficiaries.

Most people need life insurance and term life is suitable for all stages of life. Term life policies offer a cheap option to suit your needs. Term life is also easy to purchase. Many online life insurance providers have access to hundreds of reliable life insurance companies. By feeding in your personal information, you can receive numerous quotes for comparison within minutes. Remember to be completely honest in answering questionnaires. Use sites that are absolutely safe and are certified by the Better Business Bureau to safeguard your interests. Many online sites provide cheap initial quotes to attract customers. They may end up being a disappointment.

Many people think they may not be eligible for a term life policy or they will have to pay high premiums because they suffer from certain health conditions. But there are online life insurance providers who can help you find life insurance companies that may look more favorably on certain medical conditions than the regular life insurance companies. This is where shopping around for term life policies will come into play. If your health is poor, you may want to check out these Insurance FAQs for help in how to find companies that may be able to offer you more favorable quotes even if you do suffer from certain medical conditions.

Want to find out more about whole life insurance online quote, then visit our site on how to choose the best life insurance policy search for your needs.
 October 5th, 2016  
 admin  
 Life  
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 63 Comments