Insurance Tips

There are basically two different types of Life Insurance available. They are temporary and permanent. The temporary insurance is generally known as "Term" or "Renewable" Life Insurance whilst the permanent is generally known as "Whole of Life" or "Endowment" Life Insurance. Life insurance is mainly purchased to provide cover for a mortgage or loan, ensure financial security for a family or business, or to cover final expenses such as funeral and medical costs. Premiums are payable through a number of options including (1) annually, (2) half-yearly, (3) monthly or (4) via a payroll deduction. Suicide is generally covered after 13 months…

Medical malpractice suits are becoming more common in the US, as the personal bond between doctor and patient becomes a thing of the past. A serious new problem has burst upon the U.S. medical scene: malpractice insurance. Is medical malpractice insurance required? The value of a life ruined through a doctor's bungling is now measured by juries in the millions of dollars, a trend that has made medical malpractice suits a multi-billion dollar business. Some firms which ensure doctors and hospitals against suits for malpractice of negligence now threaten to stop providing this insurance. They say they have been losing…

Although reputable and progressive insurance companies endeavor to take insurance to the people, it is extremely difficult for their representatives to cover the very large national field with personal calls to place before everybody information regarding the various types of insurance which are available and which are really necessary to the individual. Insurance The primary producer is faced with losses from many sources beyond his control, and if such losses occur he needs finance readily available to replace his hard-earned assets and to maintain his income. Most of these losses are insurable and the prudent man accepts his insurance expenditure…

Statistics show that few Americans insure their home against damage, yet it is often their most valuable asset and needs all the protection it can get. The trauma experienced by many Americans who arrive home to find their house has been burgled is too often heightened by the fact that their possessions have not been properly insured, if at all. Recent government statistics show that more than half of household assets in the U.S. are not insured and often homes are under-insured. Being underinsured is a tragic situation many people find themselves in. For most of us, a home is the…

There are as many reasons for buying insurance cover as there are people who buy it. Perhaps though, there's a broad answer. Insurance is really a way of managing risks. Why do we need insurance? Simply because they need financial protection against a risk. If you drive a car, there's a risk of damaging it. If you own a home, there's a risk of fire. If you own valuables, there's a risk they may be lost or stolen. Insurance will provide financial compensation if a risk becomes a reality. What types of insurance cover should we have? That depends on…