How To Get The Best Rates on Life Insurance in Illinois

When looking for the best rate for life insurance in the state of Illinois, first make sure the insurance company is licensed to do business in the state by contacting the Illinois Division of Insurance. Secondly make sure the company is financially stable. If you have purchased a life insurance policy and the insurance company you purchase your policy from goes out of business you are protected up to $300,000 in life benefits per insured life. In other words, if you have 5 life insurance policies totaling $1,000,000, you will only be guaranteed $300,000 in benefits.

If your insurance company is no longer in business, contact the Illinois Division of Insurance to track down the original policy. They will do this by forwarding the name and address of the succeeding insurance company to you. If that information is inadequate to enable you to determine if the new insurance company has your policy, contact the Illinois Division of Insurance in writing. They will investigate and respond.

To avoid such an unfortunate situation, make sure you know the financial stability of your life insurance company before signing on the dotted line. You can find out their financial stability rating by checking their AM Best rating. AM Best tracks the financial stability of insurance companies for all lines of coverage (not just life insurance). Although checking the financial stability does not guarantee the company will be around 20 years from now, it will give you a good indication as to its current stability.

It is recommended to check their rating periodically during the policy term (which can span in excess of 15 years) to ensure the rating is still as originally purchased. If your company’s rating slips, you might want to keep an eye on it to see if it corrects itself. If not, and you find the trend continuing, it makes sense to shop around for more stable life insurance companies. You do not want your beneficiaries to be on the investigating end of finding who will pay death benefits in the case of your demise.

How to Get the Best Rates on Life Insurance in Missouri

No one likes to think that they are going to die one day – but, as the old saying goes, there are only two things certain in this life, death and taxes. There isn’t much we can do about taxes, but we can make life easier for our loved ones after our death by purchasing a life insurance policy now.

There are several factors which determine how much you will pay for your life insurance in Missouri. The size of the policy you take out, your age at the time you take out the policy, your health, your lifestyle, whether you buy a term insurance policy or a whole life policy…even your credit rating affects the amount you pay for your life insurance.

Let’s start by discussing the two basic types of life insurance – term and whole life.

A term policy is good for a certain time period (the term of the policy). At the end of that time period your insurance lapses and if you want more coverage you will have to purchase a new policy – at a higher premium.

A whole life policy covers you for your…whole life. Whatever premium you pay when you buy the policy is the same premium you will pay for your entire life. A whole life policy also builds a cash-value savings account over time, which can be used for a variety of purposes and may even be borrowed against.

Initially the monthly premium payments on a term policy are lower than a similar whole life policy. The problem arises once your term policy runs out and you need to buy a new policy – at a higher rate. This could conceivably happen several times during your lifetime, requiring you to pay more and more for your insurance as you get older and older.

The choice is yours. But before you hop online to find the best rates on life insurance in Missouri perhaps you should take a few moments to consider ways of keeping your monthly premiums as low as possible regardless of whether whole life or term insurance is best for you.

First, buy a policy before your next birthday. Every year that passes means a higher insurance premium.

Get and maintain a healthy lifestyle. It doesn’t take a genius to realize that the healthier you are the less your life insurance is going to cost. If you smoke or use tobacco products in any form you need to stop. Period. Using tobacco in any form substantially raises your monthly life insurance premium.

The same goes for being overweight. You know the health risks associated with being overweight. Losing weight can be extremely difficult, but for most people it can be done given the proper mind-set. Let saving possibly hundreds of dollars a year for many, many years be the impetus you need to finally lose those extra pounds.

Maintain your good credit rating. Whether that means paying off several credit cards, or simply making payments on-time each month, just know that most life insurance companies base your premium rate at least in part on your credit rating.

Finally, go online and start making comparisons between different life insurance policies and different life insurance companies. Remember, the exact same policy for the exact same person can cost considerably less from one life insurance company than it will from another.

When making comparisons on the internet make sure you take the extra time and effort to enter all of your required information onto the form at a minimum of 3 different websites; this will insure that you are seeing true comparisons from as many different insurance companies as possible.

Yes – it is a lot of work, but the reward of saving hundreds of dollars, perhaps several thousand dollars over your lifetime can make all the trouble you take today well worthwhile.

Life Insurance, Auto Insurance, and More in Alaska

I have divided this article into four different sections, each detailing its heading. I hope this makes it easier for you to get the information you require.

Auto Insurance in Alaska

The state of Alaska requires that every single motor vehicle registered there needs to have at least liability auto insurance. Under this State law; all owners of motor vehicles and/or drivers of the same must have the minimum amounts of liability auto insurance, which are:

– $50,000 for death or injury to any one person per accident

– $100,000 for death per accident or total injuries

– $25,000 for property damage per accident

In the event of an auto accident that resulted in property damage, personal injury or death amounting to more than $500; all drivers involved in the accident must show their auto insurance proof. Aside from auto accidents with damage greater than $500, the driver must also present proof of auto insurance any time they are requested to do so by an officer of the law and when comes the time to renew registration. If the driver fails to show proof of auto insurance for accidents with $500 dollars or more worth of damage, the drivers license will automatically be suspended for a period of 90 days to one year. The length of the suspension depends on the drivers driving record. Also, in case of an auto accident here, the guilty drivers auto insurance shall cover the expenses that were caused because of the accident.

Home Insurance in Alaska

You probably would not know this, but compared with to other states, Alaska pays more for home insurance. The reason for this is that they are always at a risk of floods and sub-zero temperatures. Though they have experienced a high increase in home insurance coverage in the past year, there are several ways to save on home insurance. The first is to compare the different insurance companies and see what each of them have to offer. This will enable you to get the right insurance at the price that fits your budget. Second is asking around about the different types discounts. You can ask your insurance company for the discounts you qualify for. And last is that increasing the deductible can save you a decent sum of money. By increasing the deductible, you are basically telling your Alaska Home Owners Insurance Agent that you are going to do everything you can to avoid any claims.

The most common home owners insurance coverages are:

HO-1 – This is for lighting, fire, vandalism, theft and smoke.

HO-2 – This is the same as the HO-1 only with additional perils, such as building collapse, water damage and falling objects.

HO-3 – This is “all perils”. Depending on your budget, you can choose between basic and all perils. But what is ultimately important is that you have home insurance which will protect you in case of disaster.

Health Insurance in Alaska

Alaska health insurance enables most residents to be able to afford the increasing cost of health care. Those who have health care are able to escape medical debt, which occurs in two out of five locals. Considering the statistics, it is important, and certainly more cost effective, to have health insurance. Although health insurance varies; most policies pay for hospitalization, surgery, medical tests, pediatric care, doctor visits, and maternity care. Generally the exceptions are cosmetic surgery, hearing aids, dental care, eyeglasses, preventive care and experimental treatments.

Those who are denied by private insurance companies because of medical conditions, the Alaska Comprehensive Health Insurance Association will offer them health insurance. Under the program of the association, those with medical conditions can get insurance on different terms.

Life Insurance in Alaska

When it comes to life insurance, the two most common life insurances in the State of Alaska are term and permanent life insurance.

Term life insurance protects the holder for short periods of time. This is usually over a period of one to several years. This means that the insurance pays only if the person dies during the covered period. Also, since the period covered is only of short duration, the premium is significantly cheaper than permanent life insurance.

Permanent life insurance protects the holder for the rest of their life by a guaranteed death benefit. This means that the coverage is for the entire life of the person. The premium for this type of insurance is of course higher than term life insurance.

In the unstable economy today, it is important to have life insurance for the family. This will enable those who are left behind to get on with their lives without financial difficulties. You might want to consider getting life insurance especially if your family depends on your financial contribution. Compare life insurance now and you might be surprised at how affordable it is and how easily you can squeeze it in to your monthly budget.

If this article or a part of this article was beneficial to you, be sure to visit my website(s) as listed in the resource box below.

Auto Insurance, Life Insurance, and More in Arkansas

Auto Insurance

In 1997, the State of Arkansas started tracking the registered motor vehicles in the state with their vehicle liability insurance. This means that the vehicle identification number (VIN) of the motor vehicle in Arkansas must match its corresponding insurance policy declared on the States Office of Motor Vehicle database. Aside from having the same insurance policy on the data base, the state also requires all the vehicles registered in the state to have the required minimum liability insurance.

For bodily injury per one person, the required amount is $25,000 per accident. For bodily injury for two or more persons per accident, the required amount is $50,000.

The property damage per accident is $25,000.

All drivers driving in the streets, roads and highways of the state must carry their insurance cards and must present them to the officer of the law in case of an accident or a traffic stop.

The States Office of Motor Vehicles also requires all insurance companies to notify them of any non-renewal, cancellation and lapses in policy. This means that once your insurance is no longer valid, your vehicle registration is automatically suspended. You will then have to reinstate it and show your proof of liability insurance if you want to legally use it.

Home Insurance

Homeowners in the State of Arkansas generally choose from the three most common types of home insurance in the state: the basic, the broad and the special.

The basic home insurance protects the home from the basic perils, such as fire, lightning, hail, windstorm and theft. The broad home insurance protects the home from the basic perils plus the additional six other perils, such as building collapse, weight of snow or ice and damage from home appliances.

The special home insurance protects the home from all the perils except for earthquake and flood. If you want to have protection or coverage against fire and earthquake, the insurance companies can offer them at additional cost.

The premium for home insurance in the state depends on the following factors: the size of the home and other buildings in the property, the construction cost of the home, the chances of natural disaster occurring in the area, the material of the home, the location of the fire department in relation to the home and the crime rate in the neighborhood. These are the common factors that affect the rate of premium. There are, however, additional ways to reduce the premium; such as availing of the discounts. The best way to get the best price is for homeowners to shop around for home insurance and inquire about how they can avail the discounts they qualify for.

Health & Life Insurance

With the increasing cost of health care, it is important to get health insurance. In the State of Arkansas, there are several ways to find affordable insurance for the whole family. The first thing to do is to shop around for health insurance. Do your research and you will certainly find several insurers that will offer you health insurance that fits your budget. The next thing is try to get the major medical coverage.

Now under the law of the state, insurance companies are prohibited denial or limitation of coverage if you are under a group plan. The law also prohibits insurance companies from canceling a policy because of illness. If you are unable to get health insurance because of a preexisting condition, the Arkansas Comprehensive Health Insurance Pool will offer you coverage.

Now, in terms of life insurance, the most common types in the state are term life insurance and cash value insurance.
The term life insurance shall cover you for a period of one to several years and will pay the death benefit if you die during the covered period.

The cash value insurance is lifetime coverage. At the same time, you can borrow money from the insurance or your policy. This, of course, has higher premium.

If this article or a part of this article was beneficial to you, be sure to visit my website(s) as listed in the resource box below.

Life Insurance and Dental Insurance – Necessity and Facts

1. What life Insurance is

Basically, a life insurance policy, is an agreement between the insurance company, the insured person, and the beneficiary. The insured, pays a certain pre-defined amount to the insurance company. And in the case of death of the insured, the company pays the benefit to the beneficiary.

2. Types Of Insurance
There are two basic types of Life Insurance. They are term life insurance, and permanent life insurance. Term life, as the name suggests, is a temporary agreement, for a pre-defined number of years, after which, the agreement expires. Various lengths of term life can be purchased, however, the most common ones are between 10 and 20 years. However, terms as long as 30 years, or as short as 1 year are also available. In the case of Permanent Life, the policy covers the insured till the date of their death, or till the time the agreement ‘matures’, which in most cases, is at age 100. There are different types of Permanent Insurance, which include whole life, universal life, etc. There are many different reasons for choosing either of these, so professional advice is always recommended.

3. How much will you get?
In most cases, the amount you get, is dependent on the reason you purchase it. And this, in most cases, is to replace the income in the case of death. While most professionals would recommend 10-12 times your annual income, this can vary, and approximately should be good enough to provide for at least 20 years of safe income. However, inflation, final expenses, etc are not considered in this, so, you should always let a professional do the calculation before you decide any amount.

4. Benefits of life insurance
Although, the benefits of life insurance differ from policy to policy, most of the policies have some of the benefits in common. The most effective benefit, is that the death benefit is, in most cases, excluded from any income tax deductions. Thus, a 500,000 dollar policy will transfer the whole 500,000 dollars to the beneficiary, with no deductions whatsoever. This, is also effective for passing wealth from one generation to another.

Dental Insurance

Some people don’t take dental insurance as a reason for not going to the dentist. Others think that it is not a good reason for the dent it makes on their wallet every month. Few are content with their teeth and think it nonsensical to spend money every month on something that is perfectly alright right now. These are few of the reasons why people avoid dental insurance or not think of it until the last minute when getting health insurance. But you have to understand this one thing-dental insurance is very important due to the various benefits it has to offer.

Dentistry is one field where even the simple procedure of tooth extraction can cost as much as few hundreds of dollars PER TOOTH!!!Therefore, people relate dental processes or work with huge never-ending bills. But what they don’t think of is that the small dent that dental insurance will make on their wallets every month is nothing as compared to the huge dent it will make getting a root canal implant or even getting your wisdom teeth removed on your wallet. Moreover, it also helps you in the finance department. What’ll you do if you have to immediately get a tooth removed or are in need of a dental implant? If you have dental insurance in this situation it’ll help cover up at least part of it, if not the entire cost.

Many people make do with the thought that dental care ends at flossing and brushing well. But actually, this is not true. It is not a very well known fact but is proven that dental diseases have a direct link with other diseases. Dental diseases are common to humans, even young, healthy adults and they can easily affect the rest of the body in various ways. For example, some dental diseases are known to lead to other non-dental yet very serious health problems rather diseases like diabetes and even kidney infections.

Therefore, in this case dental insurance is very helpful as it even covers costs of regular dental checkups, that help check the growth of diseases, if any identified. This step of uncovering diseases and preventing them from becoming bad to worse is very important. Dental insurance encourages care keeping in mind the prevention of dental diseases, which further leads to decrease in final costs involved in dental care and prevention of diseases.

While you are considering health insurance, you should keep dental insurance in mind as it is an integral part. Few of the benefits of dental insurance have been given above. It is advised you should get dental insurance. Even though it seems like a gimmick for getting your money but in reality it is for your own good.

Life Insurance & Health Insurance – Need of the Hour

Life is unpredictable. Unexpected events that strike without warning can disrupt the smooth rhythm of life. You must be prepared at all times. As the primary earning member, you will do anything for the ones you love and ensure that nothing is lacking even if you are taken away from them forever. Do your best today to ensure that your family can always enjoy a comfortable lifestyle.

Life Insurance:-

Thinking about why you need life insurance can be an emotional and stressful task. However, life insurance is one of the most responsible decisions you can make to help ensure that your spouse, children or other loved ones can continue to enjoy the quality of the life they deserve.

Life insurance is nothing but its a way to replace the loss of income that occurs when someone dies. It ensures that your family will receive financial support in your absence. Put simply, life insurance provides your family with a sum of money if something happens to you. It protects your family from financial crises & provides some financial peace of mind.

In addition to serving as a protective cover, life insurance acts as a flexible money-saving scheme, which empowers you to accumulate wealth-to buy a new car, get your children married and even retire comfortably.

With a life insurance policy in place, you can:

  • Provide security to your family
  • Protect your home mortgage, loans, credit card borrowings etc.
  • Provide finance to your loved ones to achieve their goals in your absence
  • Ensure that your family is able to maintain their lifestyle, no matter what happens
  • Take care of your estate planning needs
  • Look at other retirement saving/investment vehicles

Health Insurance:-

Although health insurance can not prevent a serious injury or illness, it can help you maintain financial stability. A serious injury, disability or critical illness can impact a person’s emotional well-being and financial security. And while it can be difficult to think about these things, you will make a smart decision by planning for the unexpected now.

Health insurance policies insure you against several illnesses and guarantee you stay financially secure should you ever require treatment. They safeguard your peace of mind, eliminate all worries about treatment expenses, and allow you to focus your energy on more important things like recovery.

Health insurance is required when an individual is ill or requires medical checkups. It can prevent the patient from being expected to pay out of pocket expenses towards medical bills because they do not have any health insurance. Without health insurance, one may even not be able to afford expensive medical services when needed.

Benefits of having a Health Insurance:-

  • Helps protect your income – Disability Income Protection Insurance
  • Provides a monthly benefit to help maintain financial stability while you recover from a disability.
  • Long-Term Care Insurance
  • Provides a daily benefit to help you offset the cost of care administered in a long-term care facility or at home.
  • Critical Illness Insurance
  • Provides a lump-sum payment to be used in case of contingency
  • Hospital Cash Plan
  • Provides a daily allowance to help you pay during your hospital stay.

Money Strategies in Car and Life Insurance

You may not realize it, but the insurance rates you pay for your car can vary dramatically depending on the insurance company, agent or broker you choose, the auto coverage you request and the kind of car you drive. Thanks to some public information from our friends at Pueblo, other public domain sites, as well as my own articles, here are a number of things you can do right now to lower your car insurance costs.

1. Comparison Shop – Rates for the same car insurance can vary by hundreds of dollars, so it pays to shop around. Ask your friends, check the yellow pages or call your state insurance department. You can also check consumer guides, insurance agents or insurance companies.

But do not shop price alone. The insurer you select should offer both fair prices and excellent service. Quality personal service may cost a bit more, but provides added conveniences, so talk to a number of insurers to get a feeling for the quality of their service. Ask them what they would do to lower your costs. Check the financial ratings of the companies too. Then, when you have narrowed the field to three insurers, get price quotes.

2. Ask for a higher deductible – Car insurance deductibles represent the amount of money you pay before you make a claim. By requesting higher deductibles on collision and comprehensive (fire and theft) coverage, you can lower your costs substantially. For example, increasing your deductible from $200 to $500 could reduce your collision cost by 15% to 30%.

3. Drop collision and/or comprehension coverage on older cars – It may not be cost-effective to have collision or comprehensive auto coverage’s on cars worth less than $1000 because any claim you make would not substantially exceed annual cost and deductible amounts. Auto dealers and banks can tell you the worth of cars.

4. Eliminate duplicate medical coverages – If you have adequate health insurance, you may be paying for duplicate medical coverage in your auto policy. In some states, eliminating this coverage could lower your personal injury protection (PIP) cost by up to 40%.

5. Buy a “low profile” car – Before you buy a new or used car, check into insurance costs. Cars that are expensive to repair, or that are favorite targets for thieves, have much higher insurance costs. Write to the Insurance Institute for Highway Safety, 1005 North Glebe Road, Arlington, VA 22201 and ask for the Highway Loss Data Chart.

6. Consider area insurance cost if you are making a move – Costs tend to be lowest in rural communities and highest in center cities where there is more traffic congestion.

7. Take advantage of low mileage discounts – Some companies offer discounts to motorists who drive fewer than a predetermined number of miles a year.

8. Find out about automatic seat belts or air bag discounts – You may be able to take advantage of discounts on some coverage’s if you have automatic seat belts and/or air bags.

9. Inquire about other discounts – Some insurers offer discounts for more than one car, no accidents in three years, drivers over 50 years of age, driver training courses, anti-theft devices, anti-lock brakes and good grades for students.

SPECIAL NOTE: For more information and tips on auto insurance and all other types of insurance, call the National Insurance Consumer Helpline (NICH) at 1-800-942-4242

Life Insurance… how much and what kind

Life insurance is not about leaving the kids and grandkids 75% of the free world.

This may not be the most relished article by the insurance industry but it is what I see and what I believe. It is also a way to avoid being talked into something that perhaps you just plain do not need.

First off forget about leaving the kids and grand kids a life of ease. That is not what insurance is about. The real purpose of insurance is about you finding what is best for your situation. But to do so you must look at insurance from a very cold and matter of fact position.

You must view insurance as replacing the individual as a money machine. That is pretty cold but it is honest. You must also view what other situations exist now or probably will exist when the insurance is needed. The difficult part is constantly reviewing these other situations because as they change your insurance needs may change. For example:

1. Are there other assets that can be tapped such as multiple incomes, savings, IRA, property income, etc.

2. How many dependents are in need and for how long? Is it possible a spouse will remarry? How old are the children?

3. What is the current style of life and is it necessary or desired?

4. Are you debt free or plan to be or are you over your head in debt and cannot control spending?

These are exceptionally difficult questions which must first be dealt with before you can progress.
But once you have solid answers with all responsible parties, the rest is much less difficult because you now know where you are going and the rest is simply understanding the industry.

Types of Life Insurance

Though there are insurances labeled endowments and annuities (which are very good investments), the two basic types of insurance are whole life and term.

1. Whole Life – The appeal is that it builds cash value while offering insurance protection. But no other savings program I know of takes your money, puts it into an account for you but does not allow you to see any of it for 2-3 years. No other program has a negative cash value for years to come. And in future years, since this cash value is supposedly your money and you borrow it, how come you have to pay it back with interest? The argument is, you have life protection while building cash value. OK. Why not spend a lot less and have term insurance and use the extra money in a better investment? Even a very safe mutual fund will yield a far greater return. Or perhaps even pay off debt with what you will save. Now that can yield up to 40% tax free. (See Debt Destroyed By Magic Bullet.)

Is there a good side to whole life? Sure there is. First of all, if you take out a whole life as a youth, rates are very low. Whole life can also protect your future insurability. Rates will not change as you get older. A solid small amount of whole life to cover last expenses could be peaceful to the mind. Whole life is better able to stay up with inflation. But overall, I cannot in good conscience recommend it in most circumstances.

2. Term Insurance – Term insurance has limitations as suggested above. It builds no cash value but it is the least expensive form of insurance available. There are two types of term insurance: straight term and decreasing term.

a. Straight Term – as its name implies, straight term exists as is and for the full amount as long as you make payments. It does not increase or decrease the amount of coverage.

b. Decreasing Term – again as its name implies, decreasing term decreases as the length of time goes on. This type of insurance is most often used in association of a mortgage or car loan. But here is a major caution. You must insure the decrease does not exceed the payoff. For example. Decreasing term insurance for a 30 year mortgage will not keep pace with the mortgage itself. If the decreasing term insurance decreases over 30 years it is a straight line decrease. A mortgage, however, is not straight line because the majority of the interest is in the beginning. Possibly 75% of the mortgage will still be owed when 2/3 of the decreasing term insurance has passed.

There is one other caution I would suggest. Do not buy insurance from a commissioned retailer, car dealer, mortgagor, etc. Buy the insurance from someone who knows his trade – a licensed insurance agent. Additionally do not make insurance part of the retail sale unless you want to pay interest on top of the insurance.

Readers will probably be interested to know Mike, the author of this article, also offers a free debt elimination mini-course via e-mail. You can enroll at Debt Free In 7.5 Years [http://learncreditmanagement.com/article/DF_Enrol].

Buying The Right Life Insurance Plan

Life Insurance is an important investment and irrespective of the income level, it is imperative to buy at least a basic Life Insurance plan. This helps to secure emotional and financial stability. It is very important to know and understand which plan would be ideal for an individual’s specific needs. The details that have to be considered are the financial status, assets, affordability, debts and credits, including child support expenses and any other related expenditure. The present insurance market offers a host of varying policies and it is quite difficult to make a choice.

Permanent and Term Life Insurance are the two regular Life Insurance plans. They have their own advantages and disadvantages. They should be opted for keeping in mind optimum benefits and minimum expenditure. A permanent insurance guarantees forced saving, tax-free income, paid-up additions to the benefits, provisions of extended term periods and the provision of borrowing. However, a high rate of premium is applied, to avail of these features. It covers the monetary loss incurred by the investor?s death.

Term Insurance, on the other hand, covers the beneficiary only if the investor dies during the insured period. The premium charged for such insurance is much less than a permanent insurance and it has no saving feature. According to experts, a term insurance can be the best deal if the investor saves the difference and puts that money to good use. The interest received can become an additional income in that case, maintaining a low cost insurance at the same time. Surveys reveal that twenty percent of the investors lose their policies within two years and fifty percent of them in five years, after buying permanent policies.

Investors can go through all the necessary details associated with a particular policy and then decide if it meets their requirement.