Posts Tagged ‘Policy’

Important Suggestions for Securing the Best Possible Home Insurance Policy from Admiral Insurance

Article by kumar2009

Admiral Insurance and its business with several clients in England are already known. They sell insurances with low-premium coverage for home, bike, life, car, pet, van and travel. Persons who have two or more cars may find multi-car insurance. There are discounts for several policies and discounts are fixed in accordance with respective time period.

Admiral Insurance sells a policy for Home Insurance. It ensures safety of your home depending on its location, characteristics and materials used for the home. Admiral insurance determines the premiums befitting to the coverage provided. There are several policies. You can buy insurance for building or for materials used in the building and even for the two together.

You can get required data regarding varieties of quotations for respective policies which Admiral Insurance provides. You can view them in the internet. You, as an owner of a home, can study to follow them confidently and find the best ones comparing those quotations.

You must provide correct data to Admiral Insurance. Amount of loan for your home, amount of coverage, valuation of your home etc are significant factors which must be subjected to serious verification. Admiral Insurance pays serious attention to the things which should get Home Insurance coverage. Study of different Admiral Insurance home policies will help you getting greater hold on the subject. Prior to moving for quotations you should, therefore, engage in some researches.

Admiral or any other insurance company sell different Home insurance quotations which, based on several factors, vary from time to time. You should secure thorough knowledge regarding the issues that raise the coverage prices and you must learn from your insurance agent who can advise and assist you to select the best policy suitable for you.

Only the agent can help you identifying the insurance for which you will get the highest discounts. Discounts are of several kinds. You may get discount in such a form that allows you to pay less in the monthly premium. Do you have alarms for the burglars at your home? Discounts of special kinds may be obtained in such case.

Home insurance quotations are available over telephone and on the internet. Companies are ready to know all about you and also your expectation. Admiral Insurance is ready to supply data regarding rate of premium and area of coverage over telephone. In many websites of the internet you can learn quotations for home insurance and read reviews made by the people on insurance companies of your choice.

You cannot predict any natural calamity and your home may not brave the disaster. This is why you should go for some home insurance policy. But before you move for a buy you should obtain quotations from a few reputed companies. You must of course consider Admiral Insurance of England. It is wiser to select quotations matching your necessity from the ones you have obtained from the prime companies. You must consider advices of your agent in order to get a policy which will provide you maximum benefit and several discounts.

About the Author

Are you interested in getting more information on various insurances? Click here, to know more about it! You will be able to get more information on different types of insurances including, life insurances by following the LINK.

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Know About The Basic Difference Between Permanent Life Insurance And Term Life Insurance Policy.

Article by David Livingston

Both of them provide death benefit on the death of the insured, yet there is a basic difference between whole or universal life insurance and term life insurance policy. Let us examine that:

The whole or universal life insurance policies are valid for the life of the insured. However, term life realizes that nobody needs lifelong insurance coverage and so it is sold for a fixed term only.

The premium you pay in a term life does not buy you anything other than death benefit; but in a permanent life insurance policy, a part of the premium is diverted to a separate account to develop the cash value.

Consequently, the term life cannot offer you any investment opportunity, but since the whole amount is utilized to develop the face amount, you can have a large death benefit at a low rate. Contrarily, the permanent life insurance policies provide financial benefits in your lifetime only; but the death benefit they offer is comparatively much less.

Choosing the right kind of policy becomes easier if we have a clear idea about such differences. Being aware about the working of each policy is also important. It is sad that in these days of consumer awareness, a life insurance policy is bought rather blindly. Indeed, people generally buy whatever their agent or broker recommends and they recommend what suits them most. Consequently, you are often laden with least suitable policy.

If you actually care for your family, you should put a little more effort in selecting the right kind of life insurance policy. Many online articles provide detailed information about different life insurance policies; read them. Quotes too can provide quite a lot of information, if you care to study them carefully. Of course, the process of policy purchase always starts with receiving quotes. Always receive life insurance quote on line; that is the easiest way to do that.

Along with choosing the right kind of policy, choosing the right insurer is important too. Make sure that the carrier is financially healthy and its claim payment record is impeccable too. You can check all these through credit rating companies. Do not neglect it or if you die premature, your family will have to run from pillar to post to get what is their due. Apart from, you too must do your part well. Negligence on your part may also result in non-payment or at least delayed payment of claims.

Now, let us go back to where we started. Choosing the right kind of policy is essential. You may find it surprising; experts today recommend only term life for insurance purposes. They say that the whole or universal life is suitable for only those, who do not have any kind of financial discipline. You see, a term life is far cheaper than these permanent policies; if you only put in the difference in their rates in suitable investment fund, you will get a much better return.

What is more, should you indeed die while a term life is still in force, your beneficiary will get both the death benefit and the investment amount. In case of whole or universal life policy, the insurers will pay only the death benefit. Indeed, with death or endowment, the insurance companies always keep cash value built up using your money. That is why, if insurance is your main aim, go online to receive cheap term life insurance quotes and start the process of purchase.

However, how cheap the term life insurance quotes will be, partially depends on you too. If you are already on the wrong side of fifty, you can never get the coverage at cheap rate. To receive cheap term life insurance quotes you have to be young and healthy with the right body mass index. Moreover, you must not use tobacco in any form; your and your family’s medical history should also be all right; most of all, you must apply for a traditional term life insurance policy. No medical term life insurance may be convenient, but it is also rather expensive.

You must realize the policy prices depend mainly on the insurability of the person and the insurability depends on lot of factors such as your age, gender, tobacco use, whether or not you are suffering from certain diseases as well as hereditary factors. Although the insurers can have a partial picture about your insurability through medical banks and other agency reports, without the medical exam, they cannot come to any definite conclusion. That is why such partially underwritten policies are rather expensive. Yes, they provide instant coverage and there is not much hassle involved in the policy purchase. However, if rates are an issue, you must avoid them at any cost.

About the Author

Article by David Livingston of EQuote, who is a specialist in everything life insurance. For more information on term life insurance

Buy Cheap Home Insurance Policy for Entire Safety of Your Home

Article by Henry Bell

Although you try best on your part to keep your home safe against any event or disaster which may cause loss to your home but even then it is not in your capacity to protect your home against all impending danger. Hence it is advisable to take cheap home insurance policy instead of worrying all time about the safety of your unique home.

Home Insurance Policy at cheap rate can be accessible to you depending upon the fact that what type of safety measures you have taken to keep your home safe. If you have installed sophisticated housebreaker alarms and strong bolt lock in your home to keep your home safe from theft and burglary then insurance provider will offer you home insurance policy at cheap cost. Some factors considered are the distance of your home from the fire station will also be counted by the insurance company for giving cheap home insurance policy. Apart from it fire alarms, smoke alarms and any other modernized home safety equipment can help you in getting cheap home insurance policy.

The deductibles paid at the time of taking policy also play a major role in getting cheap home insurance policy. If you pay higher deductibles then home insurance policy will cost you cheap. The policy of cheap home insurance works just like a shield for your home against natural catastrophe like earthquake, flood, hurricane and fire which might completely destroy your home if you do not take sufficient care of your home. Other disasters like vandalism and riots are also covered by the cheap home insurance policy.If you take your home insurance policy from the insurance provider you have taken your other policies then some insurance companies might also offer you home insurance policy at cheap cost. Generally for increasing their market share insurance companies give such offers of cheap home insurance policy with the purchase of more then one policy from same insurer.

Although you have choice to get cheap Home Insurance Policy either by asking the sales agent of insurance company to come to your home or you can just do it by sitting at your home through internet. The benefit you can get in searching online is that you can collect as many free quotes for cheap home insurance policy as you want and then you can evaluate them all to search the right cheap home insurance policy. Hence it is advisable to opt for inline search to buy the suitable and affordable cheap home insurance policy.

About the Author

Henry Bell is an author who can certainly identify the kind of insurance that you will need. He is proficient in the insurance world. endeavors to find the best possible deals for its customers. To find home insurance policy, Car insurance, Travel insurance, Home insurance, Van insurance, Motorcycle insurance, Holiday insurance, Pet insurance visit

The Basic Facts About Universal Life Insurance Policy

Article by Elissa Joyce

Known for its flexibility and cash value, a universal life insurance policy has been introduced in the life insurance market sometime in the 1980s. It is also referred as adjustable insurance policy and quite different from whole insurance policy. A universal insurance is the best investment you can give yourself and your family.

The Benefits of Universal Life Insurance:

Aside from its flexibility, a insurance has a savings feature that is tax-deferred. The company that provides you with a universal insurance invests a part of the premiums you paid in mortgages, money market funds or bonds. The tax-deferred income generated from this investment is credited to your insurance policy.

Every insurance policy has guaranteed minimum interest rates applied to it, usually about 4 percent. This means your insurance company guarantees a minimum return on your premium that it invested even if the investment did not perform well. If the investment performed well, the return in the form of interest rate on the accumulated cash values will increase. There are permanent life insurance quotes available online that you can use to compare different insurance products.

Meanwhile, there are two death benefit options that you can choose from. One option allows the payment of death benefit from the cash value of the policy which make this the cheapest among the two options. The second option provides payment of the amount stated in your policy, in addition to accumulated cash value.

Many insurance companies are offering a no-lapse life insurance guarantee provided that the minimum designated premium is paid. This gives you a policy that is in force and valid up to age 100. However, do not expect to accumulate significant cash values if you are only paying the guaranteed minimum premium.

An Overview of Universal Life Insurance Premiums:

Do not confused insurance with whole life. These are two types of permanent life insurance with one having different features from the other. The good thing is, you can access permanent life insurance quotes for these two policies.

With whole life insurance, you are required to pay billed premiums on or before the end of the stated grace period. Failure to do so would put you at risk of a policy lapse. Meanwhile, policy holders of universal insurance can pay the billed premiums, more or less than the billed premiums or no premium. They also have the option to pay the premium at any other time and the flexibility on the amount to be paid.

The universal insurance is a flexible and adjustable version of the whole insurance. Gone are the days when an insurance policy is inflexible when it comes to cash value, death benefit and premiums. However, despite its flexibility, there are still rules covering the premium payments for universal insurance. Although you may choose the no premium scheme, any payment that you will make should be no less than the minimum amount in order for the insurer to manage the expenses of premium processing and collection.

Normally, the premiums for a universal life insurance are minimum, target and maximum. If you opt for the minimum premium, payments are made annually and in the amount that is enough to keep the insurance policy in force and valid for another year, but without any cash value accumulation.

The target premium is the amount needed to keep the insurance policy in force and valid all throughout the life of the insured. Meanwhile, a maximum premium allows the insurance policy to retain its insurance character.

About the Author

If you need more information and help in choosing the best type of universal life insurance policy to buy, click on

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A life insurance policy intended for Personal Security

Article by Finance Australia

A life insurance policy is usually a insurance policy long term contract concerning loop along with the insurance organization or maybe insurance firm that the insurance organization assures to repay some sort of given assignee some sort of n amount of money when this demise on the guaranteed man or women and this can be the foundation connected with safeguard in addition to personal security soon after an individual’s demise. The leading functionality connected with a life is usually to guide beneficiaries in financial terms soon after web-sites this is disapated. Different functions like incurable health issues also can lead to check per this insrance based on the long term contract. This loop believes to repay some sort of predetermined total or maybe advanced on frequent time intervals or maybe with swelling value total in return for. A superb life Trauma Insurance policy besides protects the foreclosure of profits in the event the insurance organization is disapated, but, protects the revolutionary prices coming up as soon as the demise connected with insurance organization including burial bills, income tax, probate prices, your need intended for housekeepers in addition to baby health care. Most of these dollars gains are provided with the family of this insurance organization intended for foreseeable future desires including college or university knowledge expenses with the little ones in addition to aspect or maybe each one of insurance organization partner’s retirement life desires.

There are various on the net in addition to off-line insurance policies tips corporations of which guide persons by means of clarifying this issues in addition to requests relevant to insurance coverage in addition to helping these individuals around the insurance options connected with insurance carriers. Industry experts allow insurance policies advice on a range of issues including car medical care insurance householders insurance policies in addition to a life . They then deliver simply reachable articles or blog posts unveiling suggestions about issues like obtaining insurance policies, volumes in addition to sorts of insurance, insurance Funeral Cover issues, approaching claims in addition to states. Due to the fact there are various connected with insurance carriers in addition to the plans, most of these insurance policies advisory corporations assistance in learning around the options in addition to the gains. Including Health problems in addition to crash insurance policies will allow this check connected with dollars gains for being manufactured on to this insurance organization and so that they incorporate the use of your money that can help cover out-of-pocket professional medical prices, shed paycheck or maybe different sudden bills caused by health issues or maybe personal injury. Crash & Incapability insurance policies delivers coverage intended for real personal injury or maybe demise resulting from pet suggests (in addition to healthy reasons).

When getting some sort of life policy, some sort of a life insurance price is usually assessed within the predicted price tag connected with insurance cover of client. It truly is commonly measured within the facts given by this client towards insurance firm. An applicant is necessary to produce their own era, sexuality in addition to talk about whether or not they work with smoking cigarettes or maybe definitely not. Death rate kitchen tables measured by means of actuaries having health and genealogy and family tree utilized as soon as computing some sort of a life price. A life i price incorporates published conditions which is some sort of a life Insurance Quote policy long term contract will likely be presented. If thez insurance policies is usually with period groundwork or maybe lasting groundwork is usually expressed because of the a life price. Commonly, quotes usually are purchased because of the insurance policies stockbrokers, agencies or maybe almost any on the net brokerage house insurance firm on the part of the shoppers or maybe appliers. In addition to, this staff (stockbrokers, agencies or maybe online company) will probably retail outlet several insurance carriers to search for the very best selling price in addition to coverage within a a life price.

About the Author

EZI protect is an Australian author who always writes about Trauma Insurance, Insurance Quote , Funeral Cover policies to protect your families.

Use your tax refund to pay for your Life Insurance Policy Annually

Article by Denise Mancini

Every year, the average American receives around 00 in tax rebates (checks from the IRS with advance tax paid by you over the amount that you owe the IRS). With President Obama’s new stimulus tax breaks, this amount is likely to be higher in the coming years.The average American treats the tax rebate check as free ‘spend’ money, not realizing that it’s his or her ‘forced savings’ money that the government is paying back. So instead of blowing it away, how about using it in more sensible, lasting ways? The most sensible thing you can do is pay for your life insurance with your tax refund.Why spend your tax rebate on life insurance?Think about it. The average American’s life insurance is less than adequate to deal with life’s emergencies. Toss in the recession and you have a situation where many have stopped payments on their life insurance policies. Some others have put off buying the much required, additional insurance because it is one of the first things to get struck off a home budget when money gets tight. On the contrary, life insurance is so vital to your family that financial distress should always be sorted out without touching your life insurance plan. Sometimes, this advice is easier said than done. However, put your peace of mind and the comfort of your family ahead of everything else.What would happen to your family if you died? Even family members who are financially independent will have additional expenses after your death because they will have to make do without your salary to run the household, repay outstanding mortgage payments, the unpaid amount on your credit cards, etc. If you take care of certain tasks such as doing the household accounts, taking care of tax matters, etc currently, your spouse would have to hire these services after your death. Without life insurance, your family would be thrown off balance in so many ways.Did you know that even bankruptcy laws exempt your life insurance policy because it affects your family’s interests? That’s how important your life insurance is. Simply use your tax rebate to pay for your life insurance annual charges, and it’s almost as if you got a free life insurance policy.Choose term life insurance instead of whole lifeWhen you buy life insurance with your annual tax rebates, opt for term life insurance because it is affordable, and the average tax rebate check can adequately pay the whole year’s premiums. Remember term life insurance rates can be guaranteed to remain even for the duration of the term, while your tax rebate check amounts may fluctuate. Term life is the cheapest form of life insurance, so even if your tax rebate goes down in any year, you can easily pay for your term life insurance. More importantly, shop around online, in order to qualify for the best term life rate class for your particular situation. Online life insurance agency websites offer you a choice of low-cost policies from reputed companies. If you find a really economical deal, you may not even end up spending your entire tax refund on term life insurance. With the money you save on low cost term life insurance, you will even be able to spend the rest of your tax rebate on a treat for yourself, or opt to pay off your bills – the choice is yours!TipsWhen you use your tax rebate check to pay for life insurance, pay your premiums for the full year. Apart from being the sensible thing to do, it will also save you more money on your premiums because paying the full year’s premium in one lump sum will work out cheaper than monthly payments. Once you start paying for life insurance with your tax rebate, be diligent to continue it. Do some tax planning so that your next year’s tax rebate check is likely to contain enough to pay for next year’s premiums on your life insurance. Any money left over, is of course yours, to spend as you wish. AccuQuote is a leader in providing term insurance quotes to people across the United States. In 1986 it began operating with a single goal: to make the process of buying term life insurance as easy as possible for its customers. Their experienced professionals consistently deliver the low cost life insurance by comparing thousands of life insurance policies from dozens of top-rated carriers.

About the Author

Manager of public relations and marketing communications for AccuQuote. In addition to overseeing all corporate media relations, internal executive and employee communications, I plays a key role in the overall content

Canada Vehicle Insurance Policy – All The Facts

Article by A.Noton

Canadian automobile insurance regimes are intricate. People generally do not consider the details of their vehicle insurance policy until they are involved in an accident. Benefits that are available to the member and their legal obligations will fundamentally depend on the merits of each case. A personal injury attorney who will be able to assess the case and provide the best possible options can make an assessment of each case.

Some provincial governments in Canada have attempted to allow injured people to be reimbursed for any economical losses sustained in an accident, irrespective of which motorist has caused the collision. No-fault benefits or accident benefits are governed by the Insurance Act and are available from most Canadian vehicle insurance policies.

Medical and rehabilitation expenses, nursing care, housekeeping expenses and income replacement benefits are available under standard Canadian vehicle insurance policies.

Canadian insurers are required to inform policyholders of their right to add “optional benefits” to their basic or standard packages. This will provide injured vehicle insurance policy holders with added benefits in case of an accident.

An Application for Accident Benefits must be completed and submitted it to the vehicle insurance policy provider as soon after an accident as possible and medical evidence is required to prove the extent of injuries sustained in order to claim accident benefits.

Injured motorists in Canada may sue for loss of earnings and other expenses incurred resulting from a motor vehicle accident. Under Canada’s Insurance Act, injured motorists are entitled to 80 percent of the net income after-tax lost up to the date of the trial, and 100 percent of lost gross future income after the trial. However, should the injured individual be able to return to their place of work, post-accident earnings will be deducted from their loss of income claim.

Close family members and spouses of injured motorists are also entitled to sue in tort for certain losses incurred resulting from a vehicle accident, as governed by the Canadian Family Law Act. Losses incurred could include losses of guidance, care and companionship, which the injured spouse is now unable to provide.

Third party vehicle insurance policies cover the member if an under-insured, uninsured or unidentified motorist caused the accident.

Many motorists injured in accidents don’t realize that they are entitled to sue in tort, therefore it is suggested that they see a legal advisor at their earliest convenience to be able to make an informed decision regarding their legal rights. This should be done timorously in order to avoid deadlines and notice periods being missed Many reputable attorneys will offer this consultation to motorists at no charge.

Vehicle insurance policies in Canada differ from province to province. Certain types of vehicle insurance policies that are mandatory in one province may not be mandatory in other provinces.

For instance, Quebec has a Provincial Fund which provides payments for medical care instead of Personal Injury Claims as well as fixed amount payments for Loss of earnings as well as pain and suffering.

Other types of vehicle insurance policies that Canadians can opt for include collision coverage and third party vehicle insurance policies.

In order to ensure that your vehicle insurance policy pays, report the accident to the insurance company straight away. The accident also has to be reported to the police. Insurance claims must be filed within 90 days of the accident.

About the Author

All drivers should protect themselves with the best car insurance policy. By entrusting in a reliable auto insurance dealership, you are guaranteed efficient roadside assistance during times of crisis.

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Cheap Sports Vehicle Insurance Policy

Article by Susan Alesandra

High performing vehicles are able to reach maximum speeds in a blink of an eye. Additionally, they’re made with high-priced components and materials that make the vehicle too costly to replace or fix in the event of a car accident. Their particular high-worth also creates attention to car thieves compared to many other vehicles. All these factors put together makes exotic cars an investment disadvantages for nearly all of insurance vendors.

Should you be in the market for cheap car insurance coverage, then this information shown herein will most surely be of interest to you. This article seeks to deliver the maximum amount of information as possible regarding how to begin finding affordable indemnity coverage for one’s automobile.

What you need to check out in an automobile indemnity policy

If you are planning on taking your recently bought vehicle out into the speed track in the foreseeable future, it is vital to determine whether the vehicle insurance you are planning to protect your vehicle with provides such coverage. In case it does, you need to set up time and have a discussion to your insurance agent and learn if the additional cover will lift up your premiums.

You can find specialist insurance vendors which may have special incentives, for example, special discounts if you’re an associate of a vehicle owners team. In addition, such insurance vendors may provide you a consented valuation on your vehicle. This in turn gives you the much needed secure feeling given that you know what just exactly your vehicle has been protected for.

You will find a number of classic sports car insurance providers that may have a restricted mileage policy, offering an affordable premium in return for a threshold to how often you drive your vehicle.

Learn how to reduce the expense of covering your automobile

Considering the fact that you’re expected to pay bigger premiums for your automobile, it is still doable to reduce the total amount you pay in insurance premiums by setting the level of modifications you are making in on your automobile. Whatever modification that performs in improving the general performance of your sports vehicle or that improves its value is more likely to have a knock-on result on the number you are required to pay in insurance premiums. Therefore can make it extremely difficult for you to choose affordable sports vehicle insurance for your automobile.

If you intend on purchasing a sports vehicle which you have been dreaming about all your life, make sure that you have confirmed the insurance agency it belongs to prior to making your buying. All cars on the road usually are assigned a car insurance group that varies from one to fifty. Automobiles that are in the range of fifty are known to cost more in terms of insurance coverage.

When you consent to specific mileage policy, then you definitely are in position to obtain from cheaper insurance charges. In case you are a happy owner of a convertible sports car which can be driven during summer, you have to tell your insurance provider about it so that they can provide you with budget friendly insurance premiums for your car.

Whereas most persons with sports vehicle usually see it problematical to have low-priced car insurance policies, it can be actually done if you take the above mentioned things into account. Furthermore, you should make certain that your fancy car has been installed with safety features, for instance steering locks together with car alerts are amongst other insurer-approved security addons.

About the Author

Susan Alesandra has been covering all aspects of the automotive industry, its products, business, individuals and motorsport including car insurance for over 15 years. She is currently working at situs mobil

How Good Is A Catastrophic Health Insurance Policy For You?

Article by kumar 2009

Although there are many health insurance plans available, Catastrophic Health Insurance policies meet the specific needs against calamities. Basically these plans are of two types: comprehensive type and supplement plans. The Comprehensive Catastrophic Health Insurance mostly covers the conventional health care and health care services in emergency like cost of ambulance whereas the Supplement Insurance Cover takes care of requirements such as psychiatric treatment and nursing care etc. Under both these insurance covers, after the deductibles are paid, the entire responsibility of the major portion of the medical expenses of the insurer’s treatment is borne by the insurance provider. Advantages and Disadvantages: The Catastrophic Health Insurance is most useful in case of calamity as it will compensate for the largest amount of medical expenditure that you in likelihood of facing in your whole life. The advantage of this insurance cover is that it has a low premium in comparison to the conventional health insurance policy as it will not compensate relatively minor expenses of consultation fees of the doctors. In case you have reasonably good health and are not dependent on the support prescription medicines, Catastrophic Health Insurance is best for you to save the money on your health insurance cover. In addition to it, if you are diagnosed for any acute disorder and can afford some increase in the insurance premium, Catastrophic Health Insurance is the best choice you can have. If you are already suffering from some diseases like diabetes, heart problem, AIDS or multiple sclerosis the disadvantage with the Catastrophic Health Insurance is that it will not cover any expenses on these ailments. At the same time, these insurance plans do not provide any compensation for the preventive care on any disease. You will have to meet all expenses for the routine treatment of these ailment form you own pocket to pay the doctor’s fees or for the medicines. Also, the Catastrophic Health Insurance will not pay you anything unless your deductible is completed. If you cannot spend a huge amount of money towards the medical expenses, this insurance plan will not suit you. These Catastrophic Health Insurance plans will mostly suit those people who like to take the advantage form low premium costs and get huge yearly insurance deductibles. It ranges between 0 and ,000. Besided the normal cover the plan has a cap, which is a lifelong benefit one can get ranging from million up to $ 3 millions. The insurance policy automatically gets cancelled when the cap amount is touched. To put it in a straightforward manner, Catastrophic Health Insurance policy is a kind of an alternative fiscal security in adverse times instead of being only a medical insurance plan. You are also eligible to get an appropriate tax rebate under HAS (Health Savings Account), if you are covered by Catastrophic Health Insurance plan. This insurance is the ideal option for the families with secured monthly earnings as there all medical expenses are taken care of. It is advisable that before going for any Catastrophic Health Insurance policy it is necessary to find out how much yearly premium you can afford to pay and you should have that specific amount of money ready with you.

For more information visit this site.

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Please follow the links for exclusive special offers on catastrophic health insurance and e health insurance.

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How personal bankruptcy impacts your life insurance policy

By Dawn Reiss, Life Quotes, Inc.

Filing for bankruptcy is usually person’s worst nightmare, but when it comes to protecting your assets (including the value of your life insurance policy), information is key.

A life insurance policy is considered valuable property, which means creditors may attempt to “acquire an interest in the policy’s values,” but all states and the federal government have “enacted legislation providing protections for life insurance against the claims of creditors,” says Glenn E. Stevick, Jr., a professor with The American College.

 Here’s some basics you should know when it comes to bankruptcy and how it affects your life insurance policy.

First, more people file for bankruptcy than you might imagine. With the latest economic downturn and mounting bills, the current bankruptcy-filing rate is at a 5-year high, according to recent data released by Automated Access to Court Electronic Records (AACER). What’s more, the American Journal of Medicine reported that more than 1.5 million people filed bankruptcy last year, 60 percent of those filings were the direct result of medical bills.

The American Journal of Medicine, for example, found that 1 in 25 people in the Bay Area have filed for bankruptcy last year, says bankruptcy attorney, Jeena Cho of San Francisco-based JC Law Group.

“It’s like the dirty little secret,” Cho says. “Two things that we don’t talk about are death and money. When people start talking about their financial issues, they find there are plenty of people in the same boat.”

There are two types of bankruptcy for individuals: Chapter 7 and Chapter 13.

Chapter 13 is where you can hold on to your assets and aren’t at risk for losing property, but you must repay some of the debt over a three to five year period. If your cash value for life insurance is worth more than the exemption in your state, then consider filing Chapter 13 to protect your assets, Cho recommends.

If you pass a means test and can file a Chapter 7, you must liquidate your possessions and assets, which typically takes four months. It also means your life insurance policy could be affected.

Cho says one of the worst things someone can do is liquidate their assets and start borrowing money from their life insurance and retirement funds, which are almost always protected in bankruptcy.

“People start taking whatever little money they have to see if they could get out of debt by re-paying it,” Cho says. “I see people drain their ,000 retirement fund for 0,000 in credit card debt. They start selling their cars and homes without an exit strategy. The game plan is to keep as much as possible.”

Also, make sure you disclose everything including the current, accurate cash value of your whole life insurance policy. Some people don’t “because they are afraid to and end up losing it because they failed to disclose it’s true value,” says David Leibowitz, a bankruptcy lawyer for Lakelaw in Chicago, Ill.

Under state and federal bankruptcy law, an individual filing for bankruptcy may elect exemptions under federal or state law, but not both. Explains Stevick, 34 states like Illinois, New York, California and Florida have “opted out” of the federal law and have inducted their own state protections.

Sixteen “choice states” – including Texas – allow debtors to choose between federal and state exemptions. Under federal exemptions, one can protect up to ,775 of a life insurance policy’s cash value (doubled for married couples). Also, in some states the unused portion of the homestead exemption (real and personal property) may be used for other property, including the cash value from a life insurance policy. Some states require the policy to be in force for one to two years for protection under a state exemption, to prevent using life insurance as a shelter in bankruptcy planning.

In order to be eligible to file bankruptcy under state protections, you must be considered a resident and live in a state for 24 months.

In Illinois, whole life insurance is exempted from creditors to the extent that it is necessary to support a dependent (a spouse and dependent children), but the legal interpretation is up to your bankruptcy judge.

When you file your bankruptcy petition you’ll typically include a schedule or list of your exempt property, which can include your life insurance policy.

Ron Caruthers, a financial planner, who helps individuals pay for college with over funded life insurance policies, says Florida, is the most

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