Monthly Archives: November 2017

A Company Worthy of Investment

There are so many life insurance companies out there to choose from nowadays that there are literally hundreds of different companies who offer life insurance. This is great as it gives people a variety and choice, and allows them to make a decision on the best possible supplier to meet their needs. However, there are some drawbacks to having a wide range and vast selection to choose from, that sometimes it can become intimidating and often overwhelming for an individual to be able to make a decision and pick one single life insurance company.

Monumental Life Insurance

Monumental Life Insurance is definitely one insurance company that should be considered as a leader in their market. The Company is a member of the AEGON Insurance Group, which is an international group that has a number of pension, insurance, and financial services organizations – and it also presently ranks as one of the largest insurance services groups throughout the globe.

Other than the Monumental Life Insurance Company, there are many other life insurance companies that one may choose from; it is important to be aware of all the options that are open to you before any decisions are made on any one particular company and policy.

Other Companies

Besides the Monumental Life Insurance Company, one of the best life insurance companies around is the London Life Insurance Company. They are a renowned world leader and provider of life and health insurance, as well as retirement and investment plans, and mortgages for your home – covering a lot of financial services products. The company offers a wide range of different financial products and services, and most help meet the needs of differing individuals throughout the world.

In terms of insurance, this organisation helps people plan on meeting their needs of the future, this can be establishing a career, or trying to start a business or family and London Life Insurance have a lot of different policies for individuals to choose from that ill be right or you.

By having the right life insurance cover and protection policy allows an individual person to feel whole lot safer and provides them with peace of mind, especially since they are aware that when they die they will become a financial burden on their family, by passing on all of the costs to their family and these not being covered by anything. However, by having one of these policies, their family will be given a lump sum from the life insurance policy towards paying the costs of the funeral and other expenses, this is relieving to all of those involved.

When you go about choosing life insurance cover, you should take this process with great sincerity; although there are many different good life insurance companies around, there are many other companies that are cowboys and the important thing here is that you are able to spot them from the rest. You will want to steer clear of these bad apples, and not enter into business with them. If you take your time and put effort into researching this process ad getting the best possible outcome – a great life insurance policy or plan that you are looking for – then you will have accomplished what many others have too.

New Car Insurance Doesn’t Have To Be Expensive

If you have bought a brand new car it will of course be your pride and joy, as such you will want to make sure that is covered in the event of it being stolen or being in an accident or suffering malicious damage. If this is what you want then you have no option but to take out fully comprehensive car insurance, if you paid more than £5,000 for your new car then you will have no option but to take fully comprehensive anyway. Fully comprehensive is the dearest type of car insurance but new car insurance doesn’t have to cost the earth if you choose to buy it online.

There are many companies that only trade online and there are many specialist car insurance providers online that can offer you the cheapest premiums on new car insurance. However don’t go for the first company that you come across on your search, you should go for several quotes before making a decision on who to go with, insurance does vary vastly from company to company. Not only do the premiums vary but also the little extras that are thrown in to entice you when it comes to taking out new car insurance, it’s not unusual for companies to offer so many months free tax or to give you huge savings as a way of getting you to go with their company.

There are many factors that are taken into account when it comes to how much the premium will be for your new car insurance. One of the biggest is your age; if you are a younger driver but have the luxury of owning a new car then unfortunately the cost of the insurance can be very high even with making the best savings online. The size of the cars engine will also be taken into account when it comes to the premium and of course how many years no claims bonus is also taken into account.

Medicare Offers Insurance Coverage For Prescription Medicines

Most of us know the value of good insurance, whether it’s life, home, auto or health. Medicare is now offering insurance coverage for prescription medicines to help seniors and disabled persons with the cost of their medicines.

Those who join a drug plan will pay a monthly premium (just as they do now for their Medicare doctor visits), pay a part of the cost of their prescription medicines and may have a deductible, depending on the plan they join. But unlike some types of insurance, people with Medicare cannot be turned down for prescription drug coverage.

On average, people with Medicare spend over $2,800 per year on prescription medicines, more than $1,500 of which they currently pay out of their own pockets. With the new Medicare coverage, the money that an individual will spend out of pocket is expected to drop to about $850.

Even those seniors who currently take few medicines and spend little money will have the security of knowing they’re protected for future prescription drug needs. This coverage is important because health care needs generally increase with age-the chance of having more than one chronic health problem doubles by the time beneficiaries reach 80 years -as does the need for prescription medicines. About 85 percent of Medicare beneficiaries who are ages 65 to 74 use at least one prescription medication.

Health care needs are unpredictable and people with Medicare who don’t initially sign up will have to wait until the next calendar year even if their health care needs change. When they do sign up later they will pay more for the coverage because there is a penalty-a higher premium-for those who do not already have equivalent coverage. Paying higher premiums the longer you wait is the same way life insurance works.

The new Medicare prescription drug coverage provides access, protection and peace of mind, just like every other type of insurance.

Mobility scooters insurance

Current legislations state that there is no requirement for a user of a mobility scooter to hold adequate insurance, unlike car users who are legally required to hold adequate insurance. However, users should give careful consideration to taking out at least third party insurance to cover any potential claims that could be made should the user cause injury of damage to persons or property. As these claims can often run to ten of thousands of pounds if not more, plus any legal costs which are incurred. Consideration should also be given to taking our adequate insurance to cover the scooter itself. A new scooter can cost hundreds of pounds and insuring it against damage, theft etc could be a financial sound decision.

The DVLA make the following comments with reference to mobility scooter insurance:

“Although it is not a legal requirement, it is strongly advised to have insurance. Suitable schemes are not too expensive and are available to cover your personal safety, other people’s safety and the value of the vehicle.”

As discussed previously the insurance can be divided into two areas; The Scooter itself and Third parties (people and property)

Insuring the Scooter

The cover for the scooter usually protects you against the cost of repairs to, or replacement of the mobility product in the event of an accident. Some policies also cover or will pay towards the recovery costs of getting you and your mobility product home following an accident or breakdown. Users should check to see the level of cover being offered on the policy.

Third Party Insurance

If you accidentally hit anyone or anyone’s property and you are sued for negligence the insurance should pay for your defence and the resultant damages if you are found to be negligent. Such claims can be very expensive and insurance to cover legal costs and law suites would be very worth while. Such situation could include hitting a pedestrian, crashing onto a car, or causing an accident through negligent driving.

More than just Life Insurances

Insurance, as we all know is a form of risk management primarily used to hedge against the risk of potential financial loss. Insurance is defined as the equitable transfer of the risk of a potential loss, from one entity to another, in exchange for a premium and duty of care.

When we think of taking insurance what immediately strikes our mind are the life insurances. Families often consider life insurance as necessary as a sound roof when it comes to protecting them from the harsh winds of fate, especially when children are small. Primary bread earners want assurance that even if worst things happen, the house will be paid for and the youngsters can continue to go to college.

But there are many worst things which can happen within one’s life period like a disability that could knock the family provider out of the workplace. While industry studies show that workers are three to five times more likely to be disabled than die early, disability insurance is often neglected.What is the point of having a life insurance if you are disabled? While premature death tends to have a bigger emotional impact, disability can be equally, if not more, devastating to a family’s financial stability.

Disability can be long term or short term and can be broken down into a number of broad sub categories.
•Physical impairments affecting movement.
•Lack of amputation of limbs or other body parts.
•Sensory impairments, such as visual or hearing impairments
•Neurological impairments.
•Cognitive impairments.
•Psychiatric conditions

The often heard “It won’t happen to me” has become a joke as daily someone or the other living in this world is diagnosed with some kind of a disease or other. For example Diabetics is one such kind of a disease that is common among youngsters today. Shocking to hear!!! But true facts are sometimes difficult to accept. With such a situation in hand, there is a high demand not only for life insurances but also disability insurances.

Disability insurances are of two types;
•Long Term Disability (LTD)
•Short Term Disability(STD)

Based on the type of disability, there are various different policies to suit you need and requirement.

•Short-Term Disability policies (STD) have a waiting period of 0 to 14 days with a maximum benefit period of no longer than two years.
•Long-Term Disability policies (LTD) have a waiting period of several weeks to several months with a maximum benefit period ranging from a few years to the rest of your life.

Disability policies have two different protection features that are important to understand.

1.Noncancelable means the policy cannot be canceled by the insurance company, except for nonpayment of premiums. This gives you the right to renew the policy every year without an increase in the premium or a reduction in benefits.

2.Guaranteed renewable gives you the right to renew the policy with the same benefits and not have the policy canceled by the company. However, your insurer has the right to increase your premiums as long as it does so for all other policyholders in the same rating class as you.

In addition to the traditional disability policies, there are several options you should consider when purchasing a policy:

Additional purchase options
Your insurance company gives you the right to buy additional insurance at a later time.
Coordination of benefits
The amount of benefits you receive from your insurance company is dependent on other benefits you receive because of your disability. Your policy specifies a target amount you will receive from all the policies combined, so this policy will make up the difference not paid by other policies.
Cost of living adjustment (COLA)
The COLA increases your disability benefits over time based on the increased cost of living measured by the Consumer Price Index. You will pay a higher premium if you select the COLA.
Residual or partial disability rider
This provision allows you to return to work part-time, collect part of your salary and receive a partial disability payment if you are still partially disabled.
Return of premium
This provision requires the insurance company to refund part of your premium if no claims are made for a specific period of time declared in the policy.
Waiver of premium provision
This clause means that you do not have to pay premiums on the policy after you’re disabled for 90 days.

If you decide to buy a private disability insurance policy, remember that policies are legal contracts. Read and compare the policies and understand the provisions before you sign. In comparing policies, you might want to consider:

•Is disability defined as your inability to perform your own job or any job?
•Does the policy cover accidents and illness?
•Are benefits paid for partial or recurring disabilities?
•Are full benefits paid after loss of sight, speech, hearing or use of limbs?
•Is the policy no cancelable, guaranteed renewable or conditionally renewable?
•How long must the worker be disabled before premiums are waived?
•Is there an option to buy additional coverage, without evidence of medical insurability, at a later date?
•Does the policy offer an inflation adjustment

There are many disability insurance companies and agents all around the world to offer their services .Based on one’s necessities, he or she can choose the best disability insurance to suit their needs.