Monthly Archives: November 2017

You Need Long Term Health Care Insurance

Years ago, people never bothered about long term care or thought about it. As parents aged, they often relied on their children to care for them. Today, most parents do not want to burden their children with their care in their old age. And people are living to a remarkable old age as well. This is one of the reasons why you should consider long term care insurance.

What is long term care insurance? Long term care insurance allows for you to provide for your own care if you happen to become incapacitated and need long term care. As people get older, there is a 70 percent chance that they will need some sort of long term care in their lives. While part of this care can be covered by Medicare, most of it is not. This is where long term care insurance steps in. It can cover what Medicare does not instead of allowing your care to eat away at your savings.

Who should get long term care insurance? We never know what the future will bring. It is advisable for you to plan for your future as there is a good chance that you may need long term care. This involves care in a rehabilitation facility as well as an assisted living residence. Most hospitals will send patients to rehabilitation facilities as soon as they are out of danger and Medicare does not cover much of those costs. This is why it is important for anyone to get long term care insurance – to plan for their future.

What type of plans are available? Your plan will depend on your age and health. You can get a plan that will pay $150 a day for your long term health care for up to four years. One of the best aspects about this type of plan is that the money is drawn out of the pool of money set aside in the plan for your long term care. Many times, people go to rehab and then are back out. When this occurs, you do not have to continue paying and your money stays safe in your plan, ready to be used again if you need it.

You can also get an inflation option on your long term care insurance package as well. As you know, $150 years from now will not be worth as much as $150 today. For a few dollars more a month, you can get an inflation rider on your insurance package.

One way to save money for the long term care insurance package is by getting a higher exclusion period. There are exclusion periods of 30, 60 and 90 days. This is similar to a deductible on auto insurance. The longer the exclusion period, the less expensive the policy.

Long term health care insurance is something for everyone to think about, no matter what health you are in. We never can be sure of what the future holds. It is best to be prepared with long term care insurance.

Keep Home Insurance Claims At Bay

No homeowner wants to have to file a home insurance claim, but sometimes due to our own lack of foresight, it does happen. The majority of home insurance claims, which boost the insurance rates, were from completely preventable accidents. If you know what to do, you can keep your premiums at a minimum and manage to keep your home safe, at the same time.

Some insurance claims are particularly common and can be prevented if you know what to watch for.

Water Damage

Pipes leaking or freezing can cause a lot of water damage in a short amount of time. Often, we don’t notice leaking pipes until they have already caused a lot of problems. The best way to prevent this very common issue is to inspect pipes on a regular basis and get them fixed immediately if you find any problems. Don’t wait for a major drop in water pressure to warn you that there’s a big problem, have a plumber check out any suspicions.

Frozen and burst pipes can be an issue during the winter in colder areas. If you are going to be out of the house for a while, be sure to set the thermostat above freezing and arrange for someone to check the place a couple of times a week while you are gone, particularly if there is a sudden drop in the temperature.

Electrical Fires

Most fires that cause damage to a home are due to poor wiring or a short circuit. Older homes are certainly more vulnerable to this issue, but any home can suffer from an electrical fire if they aren’t careful.

Regular inspections of cables and cords should be done every 3 months or so. Look for sockets that are coming loose, wires on appliances that may have been stripped or separated from the plug head a bit, and anything else. Wires should never be run under a carpet or across an area where they will be stepped on, since this can cause some serious problems with fraying and later cause a fire.

If you move into a new home, have an electrician do a complete inspection for faulty wiring, just to be on the safe side. Yes, it will cost you, but in the end, it’s worth it because you’ll have lower monthly home insurance rates.

Lamps, Christmas lights and other lights should be turned off rather than left on all night. The majority of electrical fires start during the winter, particularly during the holiday season.


You’ll want to make sure that your home is as secure as possible against thieves who could not only cause damage to your home, but also your family. Make sure there are locks on all windows and doors and install an alarm system.

An automatic light system can be a great safety item, turning lights on and off randomly throughout the house while you are away. Even if you tend to work late, this can be helpful, keeping the potential burglars in the dark as to when you actually get home. A predictable schedule puts your home at risk.

Keeping your home safe and secure is just common sense. You don’t want to suffer from any problems in the home, of course, but the added problem of having the rates for your home insurance rise is a big problem when things go wrong.

Take the time now to prevent these common issues and make sure that you schedule routine inspections and you should have no problems with your insurance. Most problems are completely preventable, so you’ll be covered when something unexpected happens.

Release Yourself From The Burden Of Debt

Do you feel like you are in debt prison? Are you in financial turmoil wondering how you can continue to keep everything from imploding on you? Did you know that there were actually debtor prisons in America before the Revolutionary War? Robert Morris, a signer of the Declaration of Independence, was imprisoned in the 1700’s for failure to pay debts. The bible also warns against borrowing more than we can afford to pay. Proverbs 22:26-27 says do not be a man who strikes hands in pledge or puts up security for debts; if you lack the means to pay, your very bed will be snatched from under you.

Credit card use has continued to grow in leaps and bounds. From 1996 to 2005, the total number of bank credit cards almost doubled. In 2004 alone, credit card companies generated $43 billion in fee income from late payment, over-limit, and balance transfer fees. The Federal Reserve reports that the total US consumer revolving debt reached 2.46 trillion in 2007. This large increase in card usage has created a “fee feeding frenzy,” among credit card issuers. The whole credit card industry has really evolved for the benefit of creditors in recent years, with the industry imposing fees and increasing interest rates if a single payment is late. Penalty interest rates usually are as much as 30-39%, while late fees now often are $39 a month and over-limit fees are as much as $35. If you consider how that can add up over just one year, it could be very expensive. Consider this: late and over-limit fees alone can easily rack up $900, and a 30 percent interest rate on a $3,000 balance can add another $1,000.

The bottom line is, credit card companies want to issue as much credit as possible to as many people as possible and hope you barely make the minimum payment. It’s the exact same way these cash advance companies all over town work. They couldn’t care less if you ever pay it off. In fact, they do not want you to pay it off. While most card issuers claim this is the cost of doing business, consumers should not be charged excessively for small errors. Ultimately we are responsible for our own financial choices and credit purchase decisions. However its clear to see that credit card companies will continue to entice and market low teaser rate introductory offers (the bate) and make it easy for us to use the cards. This is attractive to the consumer because they can avoid waiting and have the items or purchases they want now. But what price will we actually pay for these items?

That said, roughly $355 billion in mortgage loans are set to adjust during 2008, to significantly higher interest rates. This means many borrowers may face additional difficulties. Hopefully the Bush administrations plan for a rate freeze for adjusting arms and foreclosure prevention will help many consumers avoid catastrophe. The combination of mortgage woes and credit card debt pileup has made many people feel as though they just walked out on a pirate ship plank with nowhere to turn.

So, what is the best way to find the road to financial prosperity?

First and most importantly, if you are in an adjustable rate arm loan, check the date that it is set to adjust in your paperwork from your title closing. If you closed two or three years ago and took one of these teaser loans it will adjust 24-36 months from the original closing date. This is very important because when it adjusts it can increase by two or three interest points. Your lender should notify you 30 days prior to your reset date and you may get reminders from lenders vying for your business. Don’t get yourself caught in this self destruction.

Mortgage interest rates are anticipated to remain steady or dip slightly in 2008; this may be a good opportunity to refinance into a 30-year fixed-rate. The FHA modernization act will make refinancing a good option for damaged credit borrowers to qualify for up to 95% of their homes value at competitive single digit interest rates and avoid incurring prepay penalties. The teaser arms sold over the past 2-3 years are under extreme scrutiny due to the explosive foreclosure epidemic and its effect on the overall economy. The FHA Secure is also a great option for those who need help to avoid foreclosure, allowing them to roll in the arrearage. The future of sub-prime lending appears to be bleak at best. Many borrowers had little options other than 2 or 3 year fixed rate sub prime arms over the last few years because of credit issues, and aggressive lenders pushing these loans on poor credit borrowers. Unfortunately, these same borrowers are now in trouble and imploding due to a cocktail of housing value depreciation, adjusting rates and maxed out credit cards. The bottom line to most of these issues is proper guidance and good decision making. Additionally, it is prudent that you choose an advisor that will educate you about any loans that are different than the norm, like arm loans, negative amortization loans and loans that do not collect escrows. Now, if that is not upsetting enough, federal regulators pressured credit card issuers to double the minimum payment requirements on credit card balances. This can be both good news and bad news for many Americans burdened by debt. While it may force you to pay the balance down, it can mean disaster for many who cannot afford the extra out-of-pocket expense each month

Is Your Insurance Covering You Efficiently

Insurance can be a confusing field to navigate for many. People want the best coverage, but no one is happy about having to pay too much for it. Read on for some tips on how to handle insurance matters, and empower yourself to handle such things with ease.

Many insurance providers offer significant discounts for bundled services. For one set price, you can get home owner’s and car insurance. Insurance companies usually offer discounts if you have your car insurance and your residential insurance such as homeowner’s or renter’s insurance policy with them. You should however make sure you are purchasing insurances that you really need.

Find an overall insurance carrier to handle all of your insurance needs. Very often, if you bundle all your insurance needs and bring them all to one carrier, you are eligible for major discounts. If you change car insurance companies on one type of insurance and not the other, you may lose money as the rate increases on the other insurance you have with that company.

Always document your claims and keep accurate records. This will make your claim experience smoother. If you speak with an insurance company representative regarding your claim, make a note of the person’s name and the date on which you spoke with that person. Each time you communicate with an insurance company representative confirm what transpired during the communication with an email or letter to preserve the content of the communication in writing.

Explain to your insurance agent what happened as soon as you can. You should take photographs of any damaged property. Don’t attempt to falsify information to get more money. Not only would you not get paid, you will probably get into a lot of trouble.

Look over your coverage on a yearly basis and ensure that it is still the best suitable option for your current situation. It’s a good idea to get new automobile and homeowners insurance quotes yearly to make sure you’re getting the best rates. Also, review your deductibles and coverage amounts to make sure that you are not over-insured. Things like a new child or a changed financial situation should be taken into account.

It is often best to have a specific strategy in mind as you select your insurance policy. If you pick one with a lower deductible, you pay a larger upfront cost, but you’re completely protected in an accident. You could set your insurance policy to have a high deductible and pay less per month, but if something does happen, you will be responsible to pay the higher deductible before the insurance company will fix any of the damage that is done to your vehicle.

Check over your insurance policies periodically. Get quotes from several agents to see if they can offer you lower rates. The extra costs from these oversights can really add up, so pull out those policy documents and read them thoroughly.

Learn the ropes about the insurance you need and make sure to shop around for the best rates you can find. When someone is well educated about many insurance companies, they can be sure to make the right choices on their coverage. When one knows more about insurance, the better prepared they are when getting a plan.

As stated at the beginning of the article, there are many different types of insurance available. Hopefully you have discovered ways you can insure yourself and/or your property that you hadn’t thought of before. Having insurance gives you piece of mind that in the unfortunate event of a tragedy, illness, or accident, you and your family will be covered, and a bit more prepared

A Good Life Insurance Policy

When you are considering life insurance policy, there are all kinds of options to choose from, it can be a veritable minefield of confusion and stress. There are certain steps you can take before deciding which type of life cover you are going to opt for. Online services are usually the most expedient way of getting the widest choice and the most competitively priced insurance cover. On online life insurance agent can search through various policies that are germane to your particular case. The first thing you need to decide is what it is you want to have provision for. The common areas are mortgage protection, loss of income protection, death cover for your family and invalidity cover.

Whatever your protection needs, an online life insurance broker would firstly advise you to use their calculators to determine your current situation and the type and levels of cover that would meet your needs. The amount of money, for example, that you would need to spend to cover your earnings and outgoings adequately should the need arise. They can help with any questions you may have and provide you with a free quote. The good thing is that all needs can be covered on one website; you don’t have make enquires to several life insurance companies and the price should reflect the fact that you are investing all with one body.

Insurance has been around since Roman times, but has become more complex nowadays. Accident sickness, unemployment cover and redundancy provisions were not available to the gladiators-the Roman ones anyway. Having an adequate life cover in this day and age is more the norm. Ensuring a family is adequately provided for is essential to most people who have a reasonable income. To make ends meet if hard times come around is a lot harder in this money-driven world.

By comparing prices from all leading insurance houses, an online life cover provider can obtain the best deals at the best prices. They only deal with reputable companies that are not prone to be difficult when it comes to paying out. That is almost as important as having the cover in place so you can get on with your life with the knowledge that all inevitabilities are provided for.

Critical Illness Insurance When Your Health Takes A Turn

With many carcinogens, risk factors, increasing diagnoses of diseases and so many more harmful toxins it is important to consider critical illness insurance from a life and health insurance licensed and qualified financial services advisor. Critical illness insurance is a form of health insurance that provides you with a lump-sum payment should you fall seriously ill. Diseases that fall into the category of critical illness insurance vary from plan to plan but illnesses may include cancer, heart attack, blindness, stroke, Alzheimer’s, multiple sclerosis, organ transplants, kidney failure or paralysis. There are all conditions that are life threatening that may cause one to be severely ill or may result in death. These illnesses debilitate an individual and no longer allow them to do the activities they once loved and took pleasure in. Just to live everyday is a struggle and an uphill battle for patients with theses sicknesses and critical illness insurance can help you fight that battle if you are in financial need.

If your health plan or benefit plans at work do not cover costs in the event you become severely ill, you may want to consider critical illness insurance as a back up or an alternative plan. You can always plan ahead, but you cannot rewind or go back in time, protect yourself now by consulting with a financial services advisor about what is available to you. When consulting with a financial services advisor, one thing to keep in mind is your personal circumstances and situation currently, if you become intensively ill, would you have enough funds to uphold your lifestyle and dependents? This can be a scary thought, that not many like to think about, but preparing for the worst is necessary when we live in an age where there are so many incurable and unknown diseases. Added financial strain can be put on you and your family if you contract a serious illness covered under critical illness insurance. Plans can help with day to day living costs while you are on bed rest or confined to a wheelchair. Critical illness insurance considers factors such as travel costs to and from treatment and also thing such as home care and childcare.

If you have been diagnosed with a severe malady, you may be eligible for critical illness insurance. Medical bills and supporting dependents can become a burden when you do not have a steady flow of income. The younger and healthier you are, the lower the premium cost is, as a general rule. Do not wait until you hear the shocking news, many people think that it will not happen to them but statistics show differently because critical illnesses are on the rise. You can make a claim for critical illness insurance if you have been diagnosed by a physical licensed to practice medicine in Canada then you may submit a claim with a financial services advisor to receive the financial compensation you deserve. A lump sum payment will be distributed as soon as thirty days after the claim is made with no restrictions or limitations on how you decide to spend the funds. With an unfortunate reality of critical illness taking ahold of citizen’s lives, it is necessary to consider critical illness insurance for both your health and the well-being of your dependents.

Bundling Home And Auto Insurance To Save Money

If you own a home, you should have homeowner’s insurance and, if you own a car, you should have auto insurance as well. Both of these items are necessary to protect you against many of the damages that may occur. This is so you do not have to pay significant out-of-pocket expenses for damages that may occur to your home as a result of a break-in, a natural disaster, or even fire. As for your car, you do not want to lose your hard earned assets in a lawsuit if you are cited to be at fault in a car accident. You also don’t want your expensive car to be damaged by a falling tree or some other tragedy that results in you having to pay for the damages yourself. Insuring yourself can save you so much money if any of these things occur.

So yes, it is true that having insurance saves money and prevents a lot of headaches from occurring. So much money can be saved by having coverage that it produces a sigh of relief in those who have it and experience such a disaster as a car accident or a house fire. However, it is possible to save money on the policies themselves. It is just a matter of knowing how and knowing the right questions to ask. It is a simple thing that is really good to know because you could save 10% or more on your insurance, which can be significant when you take into consideration how much you pay on a yearly basis for your insurance.

Saving money

If you have your home insurance and your auto insurance with two different insurance agencies, move one of the policies now. However, there are questions you want to ask first before making the decision as to which policy to move. You want to ask each of your insurance providers how much of a discount they will give you if you bundle the two policies and if the discount applies to the entire amount or the premium of just one policy. Think about these things carefully because you can save money if they will take the percentage off of the entire premium amount instead of just one. However, you may run into the situation where one gives a bigger discount on one policy, so you may have to crunch some numbers to see which is going to save you more.

You may be able to negotiate with them. See which one is able to negotiate and see if you are able to receive an even better discount with one over the other. Once you crunch your numbers and you see who will save you the most money, you can then open either your auto or home insurance policy with the one that will save you the most money and close the policy out with the other provider.


Unfortunately, not all insurance providers mention bundling to their customers. Even if the customer only has one policy with a particular provider, it isn’t uncommon for that customer to have other policies with other providers. Although the provider may not ask, the customer can ask what would happen if they opened their auto insurance policies, etc. with them. Would any money be saved? If they say yes, that is wonderful because you can have all of your insurance policies in one place. If it is determined that no money will be saved either way, it may still be convenient to move your policies to one provider because your payments will not be so scattered around. All of your payments can be made as one

All Your Life Insurance Premium

This is in continuation with our earlier article on �All Your Life Insurance Premium Queries Answered�. Most people make sure to enquire about obvious questions like how the premium is to be paid, how frequently, its tax implications and what if it lapses. But there are also some not so general questions that might slip your mind while purchasing a life insurance policy and could create huge problems later. Like how about if you forget where you have kept the original documents pertaining to your insurance? What if they get misplaced, burnt or stolen?
What if after a few years of buying insurance you realise that the policy is worthless and you might not get much return from it on maturity and hence stop paying premiums altogether? Or from the bulk of policies that you have, you have forgotten to pay premium on some policy for the last few years? Can you get anything back from this policy after not paying premium for so long?
And finally, did you find out if your policy makes you eligible for loans and up to what limit? After all, it is always better to be aware of any and all cheap loan options, just in case you need one some time! Below we try to address some of these irregular but important questions about life insurance.
�What should be done if an insurance policy is lost?
First of all you must try your best to locate it; it is likely that you might have kept it in the office or at home or maybe in a bank locker! It is also possible that your insurance agent might have forgotten to hand over the original document to you, so confirm with him too. Try to remember if you promised it as security against some loan you could have taken. It is always a good idea to make duplicate copies of such important documents in case if the originals get lost or destroyed.
You will need to apply with the insurance company for another copy of your policy which they may provide upon furnishing some documents like past premium receipts and other ID proofs.
�Is there any return on a policy for which premium has not been paid for last few years?
Depends. If you pay the due premium with interest during the grace period, your policy could be reinstated. In case your policy has been in force for less than 3 years and you fail to pay premium for some time, then the insurance company is not obliged to give you any returns. If your policy is older than 3 years and you have missed paying last few premiums, then you might be eligible to some form of surrender value depending upon your policy type, term, duration, amount etc. But all this varies from one insurance company to another.
�What is the loan facility available on a life insurance policy?
Not all insurance policies are eligible for loan. For example, the basic term insurance does not provide loan benefit. But most other policies like with profit, guaranteed returns and even ULIP policies can provide loan facility, depending from company to company and on different policy types. It is prudent to enquire about it from the company at the time of taking out a policy or refer to the company brochures for details. The loan amount is arrived at after considering several factors like nature of policy, term, duration, premium amount etc and may be easily available in the initial years of taking the policy. Almost 80% – 90% of the surrender value can be taken as loan and must be repaid with interest during the tenure of the policy, or else the amount will be deducted from the maturity value of the policy

Savvy Ways To Save On Your Auto Insurance

At anytime, 24 hours a day, 7 days, anyone with access to the internet can get multiple quotes and coverage from top car insurance companies. Policies ranging from car insurance, motorcycle, RV, boat and just about anything in between. All it takes is a few minutes of your time.

The days when you had to drive to your local insurance agent’s office and accept whatever policy she had available are over. With the world wide web, you have access to insurance companies all over the world! This will allow you to get multiple quotes and comparison to get the absolute lowest rates available.

Through the use of the internet, insurance agencies have become competitive, so shop around, get several quotes and choose the policy that’s right for you. The use of the internet gives the consumer access to many insurance companies at her fingertips, and now shopping for car insurance has become stress-free.

It is wise to ask your agent about the discounts available. This simple step is often forgotten, and the fact is that the agent works on a commission so he isn’t going to be quick to tell you about them. The more you pay, the more he makes. But factors like a high credit score, a spotless driving record, airbags, anti-theft measures and gps locators, and even another insurance policy with the same company will all help you obtain a lower rate. Make sure you leave no stone uncovered in this area!

Taking advantage of public mass transit systems will save you money on your rates as the insurance company will factor in how many miles you drive per year. The more you drive, the higher your rate as it statistically increases the chances of an accident.

You may not have thought of this, and your agent will likely not mention it, but taking a defensive driving course can help reduce your rates even further. The expense will be negligible compared to the savings that it will bring.

our decision on which vehicle you choose to buy will determine whether you receive low premiums or not. Keep that in mind before you make a purchase.

Some cars receive higher safety ratings than others. Volvo is legendary for designing safe vehicles. Besides design, air bags, anti-lock brakes, roll-bars, side impact re-enforcement and other life-protecting features will bring further reduced insurance rates.

You may want to consider trading in your vehicle if it has a poor safety rating or lots of horsepower. Besides having a perfect driving record, the type of vehicle you drive will play the biggest part in the cost of your car insurance.