Insurance-Advice.net

Do I need something other than my normal health insurance plan for worldwide traveling outside the US

Mon, 15 Oct 2007 10:32:53 -0500

To answer this question, you need to check with your own health insurance company. Many health insurers do not cover international health coverage.

What is coverage for medical evacuation or repatriation insurance

Mon, 15 Oct 2007 10:31:25 -0500

Medical evacuation benefits provide for transportation to a medical facility that can provide appropriate care in the event of serious injury or sickness that cannot be adequately dealt with at the location where the illness or accident took place.

What kind of covered or not covered in normal travel insurance pans

Mon, 15 Oct 2007 10:24:47 -0500

There are many variations of travel insurance plans. Some typical insurance coverages include the following:

1. Coverage for vacation and trip cancellation

2. Coverage for travel interruptions, delays and cancellations

Why I need a trip or travel insurance plan

Mon, 15 Oct 2007 10:21:14 -0500

As we know that The outlay of money for travelling can be quite substantial. You may find yourself facing the loss of more money than you want to lose should unforeseen circumstances arise that make it necessary to cancel or interrupt your trip.

What is a trip insurance and What is travel insurance

Mon, 15 Oct 2007 10:14:54 -0500

Trip insurance is used to help alleviate some of the financial loss that may be incurred because your trip is interrupted, delayed, or cancelled by unforeseen events.

Choosing a Group Health Plan for Your Business

Tue, 20 Mar 2007 12:34:25 -0500

Top 10 Ways to Cut Your Medical Bills

Tue, 20 Mar 2007 12:29:40 -0500

Cut Disability Costs With Early Intervention

Thu, 08 Feb 2007 16:32:14 -0500

Employers who intervene soon after employees are first disabled can help them return to work faster and make them happier, while cutting disability-related costs, says Sun Life Financial, an international wealth management and insurance company, and the Integrated Benefits Institute (IBI), a nonprofit benefits research organization located in San Francisco.

How Healthy is Your Health Club?

Thu, 08 Feb 2007 16:30:50 -0500

With more and more insurance companies offering discounts on health and fitness club memberships, now may be a good time to join a health club, get into shape, and improve your overall health. But if your health club cuts corners when it comes to safety, sanitation, and staff training, you may actually be jeopardizing your health by working out there. Here are some signs that your club puts the health and safety of its members first.

All You Need to Know About Health Insurance

Thu, 08 Feb 2007 16:28:55 -0500

Let's face it--in today's world, health insurance is a necessity. With medical expenses soaring higher than a hang glider, paying for them could have you digging deep into the pockets of your jeans.

Top 10 Ways to Cut Your Medical Bills

Thu, 08 Feb 2007 16:26:03 -0500

With health-care costs on the rise, you may be looking for ways to lower your medical expenses. Here are 10 ideas:
1. Practice prevention
2. Shop around for health insurance
3. Cut the cost of prescription drugs
4. Check your medical bills
5. Join your spouse's health plan
6. Keep track of your medical expenses
7. Negotiate a discount with your health-care provider
8. Contribute to a flexible spending account
9. Take advantage of free health screenings
10. Get to know your health insurance

Insurance for the Overseas Traveler

Sun, 04 Feb 2007 08:41:29 -0500

Are you planning to travel to a foreign country? Keep in mind that forgetting to buy insurance isn't like forgetting your toothbrush or sunscreen. You should be able to find a pharmacy when you get to your destination, but be sure that you take care of your insurance needs before you leave. Here are some suggestions to get you started.
When you're too far away for mom's chicken soup

Auto Insurance Rates Fall 1.7% in First Quarter 2005

Sun, 04 Feb 2007 04:27:07 -0500

With gas pricing soaring and poised to move even higher this summer, most drivers are looking for ways to lower the cost associated with driving. There is good news for many. Depending on where you live, the average auto insurance premium quotes may have decreased by as much as 10 percent during the past quarter. According to an Insurance.com Quarterly Pricing Report, the average consumer received an annual auto insurance quote of $2,304 in the first quarter of 2005. This is a $39, or 1.7 percent, decrease over the national average annual premium quoted in 2004. This decrease is a welcome relief after Insurance.com's 2004 Auto Insurance Pricing Report highlighted a 6% increase in annual auto insurance quotes from 2003 to 2004.

North Carolina Car Insurance: Factors that Affect Car Insurance Rates

Sun, 04 Feb 2007 04:22:33 -0500

If you are a driver in North Carolina or anywhere for that matter, you know how complicated and confusing it can be to file a car accident claim, switch car insurance companies or simply add a person on to your policy. To help make things easier when dealing with your auto insurance company, we have listed some helpful tips for North Carolina car insurance customers below. Understanding these items can not only save you a lot of time and money on your auto insurance, but it will also help you be better prepared in the event of a car accident.

Resolution to get Finances in Order for College Students

Sun, 14 Jan 2007 16:57:59 -0500

Once the ball has dropped and the celebrations have come to a close, the New Year's Resolutions start rolling in. These resolutions include losing weight, giving up smoking and studying more. Getting finances in order is a resolution many college students should also have at the top of their New Year's resolution list as well! If you're a college student you're probably thinking, "I barely have a dollar to my name, why would I make getting my finances in order a New Year's Resolution?"; and that is exactly the problem. Many college students are limited in funds, but have bountiful available credit - causing students to lose control of their finances and create more college debt than they can afford.

The Insurance Institute for Highway Safety's 2007 Top Car Safety Picks

Sun, 14 Jan 2007 16:54:46 -0500

The results are in on The Insurance Institute for Highway Safety's Top Car Safety Picks for 2007 - and let's just say that the criteria to win this prestigious automobile award was tougher than ever before. That's because this year's winners had to offer electronic stability control as an option, in addition to passing the Institute's standard car safety criteria. This new addition was based on the Institute's research indicating that electronic stability control (ESC) significantly reduces crash risk by helping drivers maintain control of their vehicles during emergency maneuvers.

Protect Yourself by Conducting a Home Inventory

Wed, 13 Dec 2006 10:34:46 -0500

When you live in the Snow Belt, the crisp air and brilliant colors of fall remind you that a snowy winter is just a breath away. And in the winter, bad weather conditions--or perhaps an untended fireplace--may wreak havoc on your property. If your household possessions are damaged or destroyed, you'll have a hard time recalling the price (and description) of every item unless you have a thorough home inventory on hand.
What is a home inventory?

Coping with Springtime Allergies

Mon, 04 Dec 2006 08:42:42 -0500

If you're like most people, springtime is a welcome visitor after dealing with the snow, sleet, and ice of winter. However, for allergy sufferers, springtime isn't always something to look forward to. Flowers start to bloom, grass and weeds come back to life, and allergy season kicks into high gear. You know the symptoms:
1. Itchy, watery eyes
2. Runny nose
3. Sinus pressure
4. Sneezing
5. Headaches

Single? Don't Overlook Disability Insurance

Mon, 04 Dec 2006 08:40:23 -0500

The sun finally comes out and you decide to take a motorcycle ride. When the corner comes up a little too fast, you slip on sand, crash, and break your arm. Your health insurance will cover your medical bills, but you're worried about the weeks of lost income that stretch ahead. Even if you don't own a motorcycle, your chances of becoming disabled are great. In any given year, one out of every eight people will suffer a disability of some kind, from auto accident injuries to common back problems. And if you're single, without anyone else's income to rely on when you can't work, disability can mean financial disaster. Unless you have disability insurance, that is.

Short-Term Health Insurance

Mon, 04 Dec 2006 08:39:27 -0500

You've just graduated from college or moved out on your own, and you're no longer covered under your parents' health insurance plan. Or perhaps you've flown the coop on your cubicle job and you're looking for the next big thing. Maybe you've found a new job, but your new employer's group health insurance plan won't kick in until you've been with the company for three months. These are good reasons to look into short-term health insurance if it's available in your state.

Cut Disability Costs With Early Intervention

Mon, 04 Dec 2006 08:39:13 -0500

Choosing a Group Health Plan for Your Business

Mon, 04 Dec 2006 08:37:45 -0500

Finding the right group health plan for your business can be downright intimidating: sorting through lists of insurance companies and plans; checking and re-checking the dollars and totals for deductibles and co-pays; making sense of plan limitations and exclusions; deciphering a dictionary's worth of insurance-speak. It's enough to make anyone feel like a high-school freshman again.
You don't have the time for all this research and number crunching. But can you really afford to leave it on your "maybe someday" list? As the cost of medical care rises, the risks of not having health insurance are more apparent than ever. Today a single injury or illness –if uninsured– can leave a family in financial ruin. Moreover, group health coverage is a key benefit of employment. You may not be able to hire and keep the best employees without offering health coverage. The point is: don't procrastinate!

Know Your COBRA Rights

Mon, 04 Dec 2006 08:37:43 -0500

If you've lost your job, don't panic yet about losing your health coverage, too. You could be eligible for the continuation of your health insurance benefits.
A federal law known as COBRA (short for the Consolidated Omnibus Budget Reconciliation Act of 1985) provides a vital bridge between health insurance plans for qualified workers, their spouses, and their dependent children when their health insurance might otherwise be cut off. Because of that security, COBRA has been hailed as a much-needed safety net for families in the midst of crisis, such as unemployment, divorce, or death.

How Healthy is Your Health Club?

Mon, 04 Dec 2006 08:36:21 -0500

All You Need to Know About Health Insurance

Mon, 04 Dec 2006 08:35:27 -0500

Let's face it--in today's world, health insurance is a necessity. With medical expenses soaring higher than a hang glider, paying for them could have you digging deep into the pockets of your jeans.
What types of health insurance are available?
Health insurance plans generally fall into one of two categories: indemnity plans (also known as reimbursement plans) and managed care plans such as health maintenance organizations (HMOs), preferred provider organizations (PPOs), and point of service (POS) plans.

Top 10 Ways to Cut Your Medical Bills

Mon, 04 Dec 2006 08:34:18 -0500

Conflicts in Risk Management Thinking & Practice

Mon, 06 Nov 2006 10:54:49 -0500

Today there are numerous approaches to the practices of "risk management" and the very practices are creating channel conflicts in terms of moving the entire "risk management industry" forward.

Of all the companies who have designated positions with the title of "risk management" roughly 80% of those positions are nothing more than a function to purchase insurance and oversee loss control initiatives. The other 20% is a mix of Chief Risk Officers whose elevated role expands the risk management function to finance and legal across all operating fucntions of a large corporation. Then there are management consulting firms offering "Enterprise Risk Management" services and other segment labeled risk management services such as "Financial Risk Management, Supply Chain Risk Management, Capital Risk Management etc etc.".

Ways To Lower Your Auto Insurance

Sun, 05 Nov 2006 05:03:44 -0500

Nowadays, auto insurance is really expensive. A typical insurance policy can cost a few hundred dollars to a few thousand dollars a year. And the insurance rates you pay are hugely dependent on the insurance company or agent, your age, your car type, your driving record, and even the area you reside in!

All about Health Insurance

Sun, 05 Nov 2006 05:02:46 -0500

Health insurance is a necessity for all. With medical expenses soaring every day higher than a hang glider, paying for them could have you digging deep into the pockets of your jeans.

What types of health insurance are available?

Health insurance plans usually falls into one of two categories: indemnity plans (also known as reimbursement plans) and other one managed care plans such as health maintenance organizations (HMOs), preferred provider organizations (PPOs), and point of service (POS) plans.

HealthMetrix Research Selects Medicare Advantage Plans for Best Overall 2007 Benefit Value

Sun, 05 Nov 2006 05:01:06 -0500

HealthMetrix Research Selects Medicare Advantage Plans for Best Overall 2007 Benefit Value Wednesday November 1, 3:00 pm ET COLUMBUS, Ohio, Nov. 1 /PRNewswire/ -- Medicare plans in 82 cities will be recognized for best overall value in the design of their 2007 medical and Part D prescription drug benefits for seniors. The 2007 Senior Choice Gold Award recipients were selected from over 200 Medicare Advantage managed care plans

The Best Approach to Auto Insurance Quotes

Sun, 05 Nov 2006 05:00:13 -0500

Auto insurance quotes are generally free so don't just take out an auto insurance policy based on the first auto insurance quote you get.

The best possible way for saving money on your auto insurance is to get at least three insurance quotes. Granted, getting multiple insurance quotes will take you time but if you compare your hourly rate at work to the amount you could save on your auto insurance I think you will agree that getting several auto insurance quotes is a valuable use of your time.

THE GOOD, THE BAD AND THE INSURED

Sun, 05 Nov 2006 04:59:10 -0500

Insurance talk? It is a dry subject, one that will make most want to reach for the pillow. However in a country where "lead floats and cork sinks", this seemingly mundane subject can present surprises and in insurance surprise is usually a dirty word. Although the nuances and peculiarities of Nicaraguan insurance are not as straight forward as one would hope; some basic knowledge will help you get on the right path. When shopping for insurance for your family, Nicaraguan home or car it is wise to keep in mind that many of the rules are not the same as at home. Knowing where some of the pitfalls are and how to avoid them is the focus of this article

Wawanesa Insurance - the story of success by Tim Baker

Sun, 05 Nov 2006 04:57:11 -0500

Wawanesa Insurance Company is a Canadian insurer operating on insurance market for more than a hundred years. It is one of the largest property and casualty insurers in Canada. Wawanesa owns a subsidiary company - Wawanesa Life, which is also targeted at the Canadian insurance market. In the 1970's Wawanesa has expanded its operations and established another subsidiary company in the United States - Wawanesa General.

Teen Driving Safety Tips

Mon, 30 Oct 2006 10:27:18 -0500

If you're like many parents, the thought of your teenager getting behind the wheel of a car may scare you - and there is evidence that it should. According to the Insurance Institute for Highway Safety (IIHS), 16-year olds get into accidents almost 10 times more often then drivers between the ages of 30 and 59. However, good driving can help prevent accidents, regardless of age. To help you stay at ease and keep your teen driver safe, we compiled some important teen driving safety tips. Learn how you can be a role model for good driving behavior and the best way to save money on new driver car insurance.

What Does Your Car Color Say About Your Personality and Car Insurance Premiums?

Mon, 30 Oct 2006 10:26:10 -0500

Do people with red cars really get more speeding tickets than those with blue cars? Do car insurance companies use the color of your car to determine your rates? Do certain colors increase your chance of an accident? What does the color of your car SAY about your personality?

Summer Road Trip Tips

Mon, 30 Oct 2006 10:25:14 -0500

Road trips are a time honored tradition for many Americans, but with sky rocketing gas prices drivers need to be savvier about planning their trip and getting the most out of their gas mileage. To help, we have developed a guide to help keep your car in top performing condition, while also maximizing your gas mileage during the hot summer traveling season.

Helping Named Drivers Keep Their Auto Insurance Premiums Down

Mon, 30 Oct 2006 10:23:24 -0500

Many teenagers see their driver's license as a passage of independence from their parents or a chance to head out on the open road with their friends. That is until they find out how much auto insurance is going to cost them - then being on Mom and Dad's policy doesn't seem so embarrassing!

Red Light Running is a Rampant Problem

Thu, 26 Oct 2006 11:57:28 -0500

Ever run a red light? Many motorists have, according to a newly released national survey prepared by Farmers Insurance Group of Companies.

Last year, Farmers did a random written survey of driving habits of about 1,000 people and found that...�

Deadly Driving Lists

Thu, 26 Oct 2006 11:56:50 -0500

Driving can be dangerous. Although the number of fatal road accidents per licensed driver is less than half of what it was forty years ago, death still happens every day on our roads.

We hope that you never experience this worst-case scenario - and we'll do what we can to help you figure out the most dangerous times (and ages) when it comes to avoiding disaster.

Tips For Buying a Car

Thu, 26 Oct 2006 11:56:13 -0500

Buying a new car is an exciting experience, though it can be complicated. There's a lot of choice out there, and it can be intimidating. You want to make sure you're getting the best deal, and that you end up with the car that's right for you.

The Battle of the Sexes - Do Men Really File More Auto Insurance Claims Than Women?

Thu, 26 Oct 2006 11:55:41 -0500

Guys, think your driving skills are exceptionally better then your female counterparts? Think again! According to the National Highway Traffic Safety Administration's 2004 Early Edition Report, male drivers were involved in 27,000 more fatal accidents, 432,000 more injury crashes and 1,369,000 more property-damaged incidents than female drivers - which inevitably equated to 1,828,000 more insurance claims in a single a year. Sorry guys, the ladies win.

10 Most Congested Cities

Thu, 26 Oct 2006 11:55:07 -0500

Feeling congested? Americans may love driving their cars, but most folks don't like just sitting in them; especially when they're stuck in traffic. As minutes turn to hours and then add up to days, the time we are stuck crawling at a snail's pace, making progress only by the foot seems to have increased exponentially. When it comes to the Rat Race, we are running in it at ever-slower speeds with an increasing amount of company. According to data collected by the Texas Transportation Institute for it's 2003 Urban Mobility study, here are the top ten worst cities for traffic congestion:

SUV Bumpers vs. Standard Bumpers - The Results are Damaging

Thu, 26 Oct 2006 11:54:11 -0500

Everywhere you drive these days you see more SUVs. People are buying these vehicles for their sleek style, ability to haul just about anything and the luxury of having an elevated perspective of the road - the last of which can potentially cost SUV drivers and other vehicle owners dearly, in the event of a rear-end collision.

The Many Benefits of Auto Club Membership

Thu, 26 Oct 2006 11:52:33 -0500

Auto club memberships (such as AAA) can have many advantages, well beyond just road services and hotel discounts. Even if you don't own a car, consider joining an auto club. Membership in an auto club (also known as a road and travel club) may save you money and offer other attractive perks.

Cell Phones - A Growing Road Hazard

Thu, 26 Oct 2006 11:52:27 -0500

From grocery stores to nightclubs to parks and restaurants, people are conducting business and holding personal conversations on their cell phones all over the country. No harm in this, right? Sure, as long as the owner isn't talking while driving!

When Should You Get Car Insurance For Your Teen?

Thu, 26 Oct 2006 11:51:29 -0500

Don't dawdle about getting auto insurance for your teenager. When should you buy car insurance for your son or daughter who is old enough to drive? The sooner, the better, answers Nicole Mahrt of the American Insurance Association and the Hartford's Jane Fernald.

Insuring a Spouse with a Spotty Driving Record

Thu, 26 Oct 2006 11:50:53 -0500

You'll probably pay more for auto insurance if your spouse has a poor driving record. However, in your drive to hold down your costs, consider the advice of Ohio auto insurance agent Brad Vermilion and other industry experts.

"Even if one of you has a bad driving record," says Vermilion, "usually it's better to have both of you on the same policy. Generally speaking, you'll pay less for having the two of you on the same policy, than you would if the coverages were written separately.

The Impact Red Light/Speeding Cameras Can Have on You and Your Auto Insurance Premium

Thu, 26 Oct 2006 11:50:06 -0500

Is Big Brother watching you? That's how many American's feel about the new red light/ speeding cameras popping up all over the country. Many people feel that these cameras are violating their privacy, while others think that they are revenue boosters or simply replacing the job of their local police department. Drivers are also concerned about the increased potential of receiving a red light/speeding ticket and the effect it could have on their auto insurance rate. But no matter how you feel about these cameras, the situation is real and it could be coming to your city or town very soon!

Know the Warning Signs Before You Buy a Flood Damaged Car

Thu, 26 Oct 2006 11:49:34 -0500

Hurricanes Katrina and Rita caused devastating damage to many residents' vehicles throughout New Orleans and Mississippi. In fact, the Insurance Information Institute estimates over 500,000 cars were damaged by Hurricanes Katrina and Rita in 2005. For many, this meant their cars were unsalvageable and were declared a total loss by their auto insurance company.

SUV Owners Pay More for Insurance

Thu, 26 Oct 2006 11:48:46 -0500

Hortencia Privett is like thousands of other owners of Sports Utility Vehicles (SUVs). Privett admits that she loves what she drives, a silver 2002 Jeep Liberty, but insurance experts caution that she and other SUV owners have to pay considerably more for insurance than those tooling around town in smaller cars.

Your Auto Insurer Knows Plenty about You

Thu, 26 Oct 2006 11:48:08 -0500

Your auto insurance company probably has a lot of your personal information, and that's not necessarily a bad thing. For instance, auto insurers get a hold of your driving record, credit history, and other info to use in making decisions such as whether to cover your vehicles and how much to charge you for coverage.

My Credit Affects My Car Insurance Rate?

Thu, 26 Oct 2006 11:47:24 -0500

You probably know that lenders use information in your credit report to determine if they'll give you credit. But did you know that in some states, insurance companies also consider your credit history? Good or bad, your credit history may affect your ability to purchase homeowners or auto insurance coverage and help determine what premium you'll pay.

Why You Need Uninsured/Underinsured Motorist Coverage

Thu, 26 Oct 2006 11:46:14 -0500

Hope you're covered if you get into a fender-bender and discover that the at-fault driver is uninsured. In that unpleasant situation, your auto insurance will kick into gear if you have uninsured/underinsured motorist protection, and among those who would steer you in the direction of those sentiments are auto insurance industry representatives such as Nicole Mahrt, Dave Snyder, Dan Kummer and Sharon Cooper.

How To Switch Car Insurance Companies

Thu, 26 Oct 2006 11:45:56 -0500

It may be easier than you think!
There are many reasons why you may choose to move your auto insurance coverage to another company. You might have changed jobs and are eligible for a group discount through another insurer, or maybe you're unhappy with the service that your present company provides. Perhaps you've simply found another company willing to offer you the same level of coverage for considerably less money. Nowadays, many insurance companies provide 24-hour rate information through their toll-free numbers or websites, so investigating your options has never been easier. Another valuable source of information is your state's Department of Insurance.

Cheap Car Insurance: Factors that Affect Your Car Insurance Rates

Thu, 26 Oct 2006 11:45:19 -0500

When it comes to auto insurance rates, who you are determines what you pay.
Automobile insurance premiums are based on a large number of factors, some of which you can control, and some of which, alas, are incontrovertible facts of life. Statistically, a sixteen-year old boy with a 300 horsepower sports car in a big city is far more likely to hit something than a 35 year-old married guy driving a minivan around the suburbs.

Three Life Events That Can Greatly Affect Your Auto Insurance Rate

Thu, 26 Oct 2006 11:44:26 -0500

Getting married, becoming divorced or widowed, or embarking upon your golden years; all of these events can have a huge impact on our lives, but we bet you never thought that these changes could also influence your auto insurance rate. It's true! And it just might have you reevaluating your auto insurance policy.

10+ Tips to Help You Save on Car Insurance

Thu, 26 Oct 2006 11:43:31 -0500

Most people complain about the cost of their auto insurance--hardly surprising, given that a typical policy costs at least several hundred dollars a year. Depending on your age, driving record, and other factors, your annual premium can be significantly more than that. So how can you lower your premium and save yourself money?

How Much Will My Insurance Rate Increase After One Accident?

Thu, 26 Oct 2006 11:42:34 -0500

It's no accident that drivers often save money on their auto insurance bills if they haven't been in a fender-bender or any other roadway accident. On the other hand, if you have been in at least one vehicular accident, chances are you're going to pay more for car insurance when your policy comes up for renewal. Insurance industry experts such as Carolyn Gorman point out that this increase can "vary" for several reasons.

How Much You Pay for Insurance Can Depend on the Type of Vehicle

Thu, 26 Oct 2006 11:40:59 -0500

A sneak peak at one of the questions that might appear on your next quiz in Auto Insurance 101 -- Will the type of car you drive help determine how much you pay for auto insurance? Go to the head of the class if your answer was "yes."

The Crossover of Crossovers

Sun, 22 Oct 2006 09:52:25 -0500

The auto industry is making a valiant attempt to insert the term "Crossover" into the vernacular, referring to car-based SUVs, as opposed to truck-based (body-on-frame) SUVs. Everything from the Toyota RAV4 to the Cadillac SRX is being called a "Crossover," and you can expect more to come.

8 Things You Should Know About Auto Insurance

Fri, 06 Oct 2006 02:08:13 -0500

Dealing with the ins and outs of auto insurance can be as tricky and confusing as trying to untie the Gordian knot. Although we can't help you with the knotty Gordian problem, the following recommendations could help you figure out some of the more complicated points of auto insurance.

Top 10 Ways To Prevent Auto Theft

Fri, 06 Oct 2006 02:07:05 -0500

Every 27 seconds, another vehicle is stolen. More than 1 million motor vehicles will be stolen this year. Is it just a matter of time before you become a victim of auto theft? Not necessarily, if you follow these 10 auto theft prevention tips:

Talking to Your Parents About Insurance

Fri, 06 Oct 2006 01:58:24 -0500

Are your parents adequately protected against financial loss? What if your parents' home burns down and there is insufficient insurance to cover the entire loss--can they come live with you? What if one of your parents is held liable for someone's injuries, but does not have liability insurance--will he or she be financially ruined? What if a parent becomes seriously ill and needs long-term care--will he or she have the financial resources to pay for this contingency? What if one of your parents dies unexpectedly--will the surviving parent have enough money to live on?

I need some way to keep track of my medical and insurance records for my pets and family members. Any suggestions?

Thu, 10 Aug 2006 22:41:40 -0500

There are personal medical expense programs on the markets by companies that provide tax and accounting software that help you to organize such information for the entire family including pets.

How can I be sure what is covered under my pet insurance?

Thu, 10 Aug 2006 22:40:53 -0500

You need to read your policy carefully. Also, some companies have information telephone numbers you can call to get details of your coverage.

Is there a discount for insuring more than one pet?

Thu, 10 Aug 2006 22:40:47 -0500

Yes. Some companies that provide medical coverage for pets have discounts for several animals.

How do pet insurance companies check that the pet insured under the policy is the same one being treated?

Thu, 10 Aug 2006 22:40:13 -0500

Veterinarians provide identification and pet insurance companies maintain databases to help prevent fraudulent claims.

How do I make a claim under my pet insurance?

Thu, 10 Aug 2006 22:39:44 -0500

Check the policy and the plan description. You may need to make a claim through the company or through your veterinarian.

Does the age of the pet matter for pet insurance?

Thu, 10 Aug 2006 22:39:04 -0500

Yes. Some plans may not start coverage on pets if they are older than some specified age. Also, the cost is likely to be higher for older pets.

How costly is pet insurance?

Thu, 10 Aug 2006 22:38:19 -0500

Basic coverage for many plans can start at $10 or $15 per month. Higher cost plans may also be available that provide for more comprehensive coverage.

What kinds of benefits are provided by pet insurance?

Thu, 10 Aug 2006 22:38:02 -0500

Policies offer various levels of coverage depending on cost. The deductible amounts and percentage of the bill to be paid by the pet insurance (for example 70% or 100%) can vary according to which level of coverage you select.

What kinds of risks are covered by pet insurance?

Thu, 10 Aug 2006 22:36:27 -0500

Some policies cover only accident related injuries while others cover both accident and illness care.

What kinds of animals can be covered by pet insurance?

Thu, 10 Aug 2006 22:35:57 -0500

Dogs and cats are usually the animals covered, but some companies offer coverage for other types of pets including some types of "exotic" animals.

Why would I need pet insurance?

Thu, 10 Aug 2006 22:35:18 -0500

A well loved pet can require medical care that could be very expensive in the event of an accident or a serious health problem.

What is pet insurance?

Thu, 10 Aug 2006 22:34:42 -0500

Pet insurance is to provide coverage for medical expenses for domestic pets. It can be purchased through veterinarians or directly from the companies.

What does it mean when a state lottery advertises the "annuity value" of the winning amount?

Fri, 14 Jul 2006 21:29:15 -0500

Instead of paying the winnings in a lump sum, they will pay installments. Since the installments include some investment earnings, the total number of dollars will be larger than if the prize is taken immediately in cash. But the present value of dollars to be paid in the future is worth less than dollars paid today. Therefore, the total prize will be the same no matter which way you take it. Lottery commissions sometimes buy actual annuities from insurance companies to pay off winners.

What is a structured settlement?

Fri, 14 Jul 2006 21:28:49 -0500

When legal disputes result in financial payments from one party to another, annuities are often purchased to provide the desired payments at the appropriate times. Such arrangement is called a structured settlement.

What should you keep in mind when considering an annuity?

Fri, 14 Jul 2006 21:28:25 -0500

You should consider an annuity a long-term investment and not invest money that you may need for unexpected expenses. You should not buy an annuity in any company that is not financially strong - it is not worth the problems you may encounter. If you are buying because of attractive tax treatment, be aware that Congress can change tax laws. The chance that this could happen increases with long-term investments. While annuities are simple in principle, there are many options and complexities including the effect of tax laws.

Can I change my mind and get out once I buy an annuity?

Fri, 14 Jul 2006 21:28:06 -0500

Probably, but there may be surrender penalties. Make sure you understand these before you buy.

What is a 1035 exchange?

Fri, 14 Jul 2006 21:27:45 -0500

Tax laws have a provision that allows an exchange of one annuity for another provided proper procedures are followed. This allows someone whose circumstances or investment goals change, or who becomes dissatisfied with their insurance company, to switch annuities.

What are the tax advantages of an annuity?

Fri, 14 Jul 2006 21:27:22 -0500

Like a life insurance contract, annuities defer your taxability on the buildup of the value of your investment. Also, you can defer taxes on money paid out as an annuity, since you pay tax on the payments as you get them rather than all at once. Tax laws are complex. Check with your tax advisor before you act.

If I buy it from a bank, Will my annuity be fdic guaranteed?

Fri, 14 Jul 2006 21:26:56 -0500

How do I check on variable annuity companies?

Fri, 14 Jul 2006 21:26:18 -0500

Contact VARDS (Variable Annuity Research and Data Service) in Marietta, Georgia, or at their web site (vards.com).

What is a variable annuity?

Fri, 14 Jul 2006 21:25:55 -0500

The annuities described so far have clearly specified rates of return and guarantees that are spelled out when the contract is signed. Variable annuities do not have guaranteed returns. The annuitant selects from a list of possible investments and the annuity return depends on how well those investments do, rather like a mutual fund. There is usually some provision for switching investments.

What should I look out for?

Fri, 14 Jul 2006 21:25:29 -0500

Fees can be quite high for some annuities, which can reduce the returns you will receive. Look carefully at the fees before investing. Some direct sellers and no-load fund families have lower than average fees for annuities.

Why do women get lower annuity payments than men for the same lump sum annuitized?

Fri, 14 Jul 2006 21:25:03 -0500

Because women tend to live longer based on actuarial statistics. ." Women pay less for life insurance for the same reason. There have been protests and lawsuits in recent years calling for "uni-sex rates."

What does it mean to annuitize my money?

Fri, 14 Jul 2006 21:24:40 -0500

You give the insurance company a sum of money and they agree to pay you an income

Do I have to answer health questions to qualify for an annuity?

Fri, 14 Jul 2006 21:24:14 -0500

Generally no, since the insurance company is not at risk if you die early.

What should I know about rate guarantees for an spda?

Fri, 14 Jul 2006 21:23:48 -0500

The company typically specifies a guaranteed rate for one year or several years after which it can reset the rate to reflect the latest market conditions. There is usually a minimum rate the annuity will pay as well. This minimum rate may be mandated by the state insurance regulators. You should look for the most favorable guarantee you can get from a financially sound company.

Can I take money out early from a spda?

Fri, 14 Jul 2006 21:23:24 -0500

You may find that unexpected expenses or business opportunities prompt you to make unanticipated withdrawals. Deferred annuities (unlike immediate annuities) generally have a provision allowing some money (often 10% per year) to be withdrawn. But charges and tax penalties may be incurred for early withdrawals, since an SPDA is intended for long-term investment. Make sure you understand the particulars of a plan before you buy it.

Who should invest in a spda?

Fri, 14 Jul 2006 21:22:55 -0500

Someone who has adequately taken care of their life insurance and investment needs, and has already participated in an IRA, 401K or other tax deductible investment plans for which they are eligible. Such a person may want to invest some additional assets for tax deferred growth.

What are the advantages of an spda?

Fri, 14 Jul 2006 21:22:51 -0500

The SPDA is one of the most popular forms of annuity. It is often purchased as a form of tax deferred investment.

What is an spda?

Fri, 14 Jul 2006 21:22:11 -0500

An SPDA is a Single Payment Deferred Annuity.

Who should invest in a spia?

Fri, 14 Jul 2006 21:21:38 -0500

Someone who is looking for an attractive return on their money that he or she will not outlive. Someone who does not want to worry about how to invest the money. Someone who could benefit from the tax deferral derived from receiving income in installments instead of in one large lump sum.

What are the uses of an spia?

Fri, 14 Jul 2006 21:21:17 -0500

An SPIA is often purchased to convert assets from savings and investments, selling a business, rollovers or payouts from a pension plan into a guaranteed stream of payments for retirement income. They can also be used to provide deferred compensation to an employee on separation or retirement. An SPIA can also be used (with proper tax counseling) to shelter assets in cases of personal bankruptcy.

What is an spia?

Fri, 14 Jul 2006 21:21:01 -0500

An SPIA is a Single Payment Immediate Annuity, one of the most popular annuity types.

What is a deferred annuity?

Fri, 14 Jul 2006 21:20:30 -0500

Some people are interested in getting an income from an annuity, but want the payments to begin some time in the future or want the insurance company to invest the money for a few years to increase the payments. Under these circumstances, a deferred annuity would be appropriate.

What is an immediate annuity?

Fri, 14 Jul 2006 21:20:10 -0500

Many potential annuitants are interested in giving an insurance company a lump sum of money and immediately beginning to receive a stream of payments. An example of this might be someone who has sold a business and wants to use the proceeds of the sale to receive a monthly income. Under these circumstances, an immediate annuity would be appropriate.

What is the liquidation phase of an annuity?

Fri, 14 Jul 2006 21:19:53 -0500

The liquidation phase is when the insurance company makes payments to the annuitant. Often the payments continue for the life of the annuitant or during the life of the annuitant and some other person, such as a spouse.

What is the accumulation phase of an annuity?

Fri, 14 Jul 2006 21:19:14 -0500

The accumulation phase is the period when payments are being made to the insurance company by the annuitant to build up the value of the annuity.

Can an annuity include provisions to guarantee my beneficiary will at least get my investment back if I die prematurely?

Fri, 14 Jul 2006 21:18:47 -0500

Yes. Many types of provisions have been devised for this purpose. For example, the income can continue to a second person. Or, the contract can guarantee a lump sum payment or a minimum number of payments. Annuities that include such provisions will return somewhat lower payments than those annuities which do not have such provisions.

How does an annuity work?

Fri, 14 Jul 2006 21:17:43 -0500

The simplest type requires the annuitant to pay a lump sum to an insurance company at the time the payments are to begin (for example, at age 65). Such a contract is called a Single Premium Immediate Annuity or SPIA. If the contract calls for payments for as long as the annuitant lives, the payments can be maximized. They will probably exceed the returns that would be produced from other types of fixed dollar investments, and the annuitant is purchasing an income that will not run out during his or her lifetime. The disadvantage of such a contract is that if the annuitant should die unexpectedly after having received only a few annuity payments, the total amount received from the insurance company might be much less than the amount paid to the insurance company by the annuitant. On the other hand, if the annuitant lives to a very advanced age, the amount that the insurance company will pay out in annuity checks is much more than the lump sum that the annuitant paid to the company at the beginning of the contract.

What are the types of annuities?

Fri, 14 Jul 2006 21:17:31 -0500

There are many variations and types of annuity contracts. Some examples are:
1. immediate or deferred
2. fixed or variable
3. single pay or multi-payment
4. straight life or joint and survivor or cash refund

Why have annuities become so popular as an investment in recent years?

Fri, 14 Jul 2006 21:16:20 -0500

Primarily, because of the possibility of tax deferral. After the tax law changes of recent years eliminated some other options, annuities are one of the few remaining ways to defer income tax on the growth of your investments.

Risk and annuities

Fri, 14 Jul 2006 21:16:17 -0500

In a sense, an annuity is the reverse of a life insurance policy. Life insurance insures you against the risk of your dying too soon, but an annuity protects you against the risk of your living too long (which could result in your money running out while you are still alive).

What is an annuity?

Fri, 14 Jul 2006 21:15:26 -0500

Basically, an annuity is just a series or stream of payments. "Annuity" comes from the Latin for "year". In the context of life insurance, it is a contract between you and an insurance company under which the insurance company pays you money for a stipulated period - often for life. The payments are frequently monthly. The person receiving the payments is referred to as an "annuitant."

Glossary of Homeowner Insurance

Sun, 25 Jun 2006 10:36:26 -0500

Actual cash value: the worth of a damaged or stolen item at the time of the loss.

Additional living expense coverage : pays for some additional living costs (i.e. motel, restaurant) if you must live elsewhere while repairs are being made to your damaged home.

My contractor found hidden damage. Now the repairs will cost a lot more than the company representative originally estimated. Who bears the extra cost?

Sun, 25 Jun 2006 10:35:32 -0500

This again depends on the outcome of the claim settlement process. If you have already accepted the settlement and provided a release to the insurance company, end of story - you pay the extra. If the claim has not been closed, contact the insurance company and try to resolve the difference. If a compromise figure cannot be reached, you will need to hire an independent insurance adjuster or retain an attorney to represent your interests with the insurance company.

What if I disagree with an adjuster's estimate of my loss?

Sun, 25 Jun 2006 10:35:18 -0500

You can either hire your own independent insurance appraiser to determine the value or contact an attorney to represent your interests in the claim process.

Do I need to be at my home during an inspection by an adjuster?

Sun, 25 Jun 2006 10:34:39 -0500

You don't have to be present, but it is a good idea to be there to keep an eye on the process.

What information should I give to the company representative?

Sun, 25 Jun 2006 10:34:13 -0500

Insurance company representatives need to be able to determine how the loss occurred, as well as the extent of the damage. Any information along these lines should be disclosed to the company and its representatives as part of the claim process. If you are uncomfortable dealing directly with the insurance company or its representatives, hire an attorney to look after your interests and have him/her deal with the company.

Can I make permanent repairs before the insurance company inspects the damage?

Sun, 25 Jun 2006 10:33:26 -0500

You should not make permanent repairs until after the insurance adjuster inspects the damage or loss. Only repairs that are required to protect the property from further loss or damage should be done before the damage/loss has been inspected for purposes of claim approval and valuation. If you are not sure whether your repair will be considered "permanent", ask the insurance company first.

Can I make permanent repairs before the insurance company inspects the damage?

Sun, 25 Jun 2006 10:33:26 -0500

My home was partially damaged by fire and I want to make some temporary repairs, Such as boarding up blown windows. Do I have to get the insurer's permission to begin?

Sun, 25 Jun 2006 10:33:02 -0500

Make all temporary repairs as are necessary to protect your property from further loss or damage. For example, securing the premises with a temporary fence may prevent further losses should uninvited third parties stroll into your damaged property. But in the event of a total loss, before the appraisal process is completed, it is usually not a good idea to remove damaged goods or other property. Consider taking photographs to show the way things looked before embarking on the clean-up and repairing.

My home was recently broken into and I do not have sales receipts for the stolen items. What will the insurance company accept for proof of ownership?

Sun, 25 Jun 2006 10:32:38 -0500

You should have some evidence of ownership, such as photographs, appraisals, or statements under the penalty of perjury. Be aware that making a false statement to an insurance company as part of a claim is fraud and may be pursued as a crime (often a felony offense).