Category Archives: Insurance

Importance of having Dental Insurance

With the cost of dental care treatment increasing year after year, it is very important having dental insurance for most of the people. Another problem is the mere fact that many companies offer their workers medical coverage but do not offer dental insurance, leaving their employees up in the air when it comes to taking care of their oral problem. If in case your company also does not offer dental insurance and you want to shop for a apt plan, here are some important factors to be kept in mind.

To begin with, remember that a dental insurance plan is not actually inexpensive if it does not cover all your essential needs. For example, a dental plan, which does not permit you a choice of dentists, could be a problem; the same is true of a dental insurance, which keeps out some specialists and forces you to resolve for the second rate option cure. Finally, ensure that the dental plan permits you some freedom, such as selecting your own times to make a scheduled time rather than being restricted to a particular day of the week or certain hours, as certain dental care plans do. Always purchase the most excellent plan you could afford. Do not go with the cheapest one only to find out later, which the coverage is not sufficient for your basic needs.

When it comes to costs, the gateway in finding plausibly priced dental insurance plan is to do your research. The Internet is a most excellent place to find out what is accessible and to do a rapid assessment run among various plans. Stick to recognized companies, or ensure you look for advice if you do not know anything about a specific corporation. Some websites as well allow you to measure up to companies and look for the right dental plan taking into thought both price and needs.

Buying a family dental care plan other than an individual one could as well sometimes save your money. When shopping around, do not feel restricted by the word “family,” as it might mean various things to various companies, from a usual legal marriage to any group of people sharing the same address. If there are many options available and in turn confused you, talk to any dental provider or ask coworkers and friends for a recommendation. Nothing beats up personal experience when it comes to a dental insurance plan..

Getting Texas Health Insurance is Easier than You Might Think

 

According to the U.S. Census Bureau, Texas leads the nation in the number of people without health insurance. Although almost one in five Americans is uninsured, it is estimated that one in three Texans are uninsured. The Texas Medical Association reports, “More than 5.5 million Texans – including 1.4 million children – lack health insurance.”

In a report issued by the Texas Comptroller of Public Accounts, “The uninsured are a diverse group that includes people who cannot afford private health insurance; who work in small businesses that do not offer insurance; who simply choose not to purchase health insurance, even though they can afford it; who are eligible – but not enrolled – in government-sponsored programs such as Medicaid or the Children’s Health Insurance Plan (CHIP); and recent immigrants.” The Comptroller also noted that Texans are less likely than other Americans to receive health insurance benefits from their employers.

The most notable omission from these reports is that it’s often difficult for people to navigate the choices involved in obtaining Texas medical insurance. There are a myriad of choices and decisions to be made. Should I get individual or family coverage? Should I go with a health maintenance organization (HMO), preferred provider organization (PPO), or another type of plan? What kind of deductible should I choose?

The task of finding Texas health insurance is even more daunting because, as you go from one health insurance company to another, you find that each offers a different set of options. As a result, it’s difficult to compare the proverbial apples to apples.

Most people don’t realize that a full-service Texas-based health insurance agency can help everyone from individuals and families to small business owners and Medicare recipients understand the options that are available to them to obtain insurance. Even better, such agencies offer their services and support free of charge. This is because they are compensated by the insurance companies rather than by the insured. Therefore, you can reap the benefits of their unbiased expertise at no charge.

Best of all, some of these agencies have implemented easy-to-use online systems that allow you to obtain quotes, compare Texas health insurance plans, and even apply online – all from the comfort of your own home. In fact, you can peruse health insurance plans, life insurance plans, dental plans, and Medicare supplemental insurance plans all in one place.

In order to obtain quotes for health insurance, for example, you simply need to enter your contact information into an online form, and then provide some basic information about you and any other family members you wish to insure. The system will then generate quotes from a variety of companies, which you can compare side-by-side. You can sort the results by a number of factors, including the health insurance company, the plan type, the deductible, the co-pay, and the estimated premium. Once you decide which plan you prefer, you can apply online.

Everyday, health insurance agencies are providing a growing number of people with affordable Texas medical insurance. In turn, those who obtain health insurance rest easier knowing that they and their families are protected.

Answers to 5 Common Questions About Texas Health Insurance

Although Texas ranks the highest among U.S. states in the number of uninsured residents, obtaining affordable Texas medical insurance is easier and more affordable than you think. Here are answers to five common questions about getting health insurance in Texas.

1. I’m young and healthy. Why should I spend money for medical insurance that I’ll never use?

Having insurance is like carrying an umbrella. You may not need it most of the time, but when there’s a torrential downpour you’ll be glad you have it. Even young and healthy people have accidents, seasonal illnesses, and sometimes tragic health issues. If you wind up having a serious medical condition, it can become very difficult to obtain Texas medical insurance, or your preexisting condition may be excluded from your coverage. In addition, you can get much lower premiums when you’re young and healthy, so health insurance provides excellent protection at very little cost.

2. Is there a benefit to using a health insurance agency, as opposed to getting quotes for policies on my own or going through a single agent?

A health insurance agency provides a number of benefits. First, they have established relationships with many, many insurance companies. This means that they have access to all of the best Texas medical insurance plans in the marketplace, while not having a bias toward any single insurer. This is in contrast to some individual agents, who work on behalf of one or two companies, and who will try and push you to sign up with their company. While you can research various plans on your own, a health insurance agency will do the legwork for you and present you will all available options, at no charge to you.

3. What’s the most important feature to consider when buying health insurance?

There are two important features that people often overlook: the lifetime maximum coverage and the maximum out-of-pocket expense. Although your more immediate concerns might be co-payments for doctors’ visits and prescription coverage, if you or a family member experiences a catastrophic illness, your overall coverage and out-of-pocket costs are much more crucial. Look for a policy that offers lifetime maximum coverage of $3 million or more, and a yearly out-of-pocket maximum in the $2,000 to $3,000 range.

4. Can I trust online comparisons for Texas health insurance?

Yes. The law requires that identical plans have identical pricing, regardless of whether you go directly through the insurer or use a health insurance agency. In other words, if you’re looking at the XYZ company’s Plan A, you will receive the same quote whether you get it online, place a phone call, or visit an insurance agency or company. Keep in mind though, that the price you pay may depend upon a number of variables, including your age, your gender, whether or not you smoke, and any pre-existing medical conditions that you may have. The final price is in large part determined by your medical history.

5. What’s the difference between an HMO and a PPO?

When it comes to Texas medical insurance, a health maintenance organization (HMO) requires that, for non-emergency services, you use their physicians and hospitals. A preferred provider organization (PPO) allows you to visit any health care provider, but gives you more benefits if you use health care professionals and services within their network.

How to Shop Online for Texas Health Insurance

Shopping online for Texas health insurance might sound counterintuitive, but in our Information Age, you can actually get real-time quotes, do comparison shopping, and find the right coverage for you and your family.

Before you begin shopping online for Texas medical insurance, you should know that the law dictates that any given plan from a certain carrier has to be priced the same, whether the person being insured buys health insurance through a broker, a health insurance agency, or through the insurance company itself. However, the final price you pay may depend upon variables like your gender, your medical history, lifestyle factors, and your age.

When you select an online source that provides information and pricing for Texas health insurance, look for one that is actually located in Texas, that offers a buyer’s guide to shopping for Texas medical insurance, and that provides real-time quotes. Most importantly, the services they provide should be free to you as the consumer. The insurance companies pay insurance agencies when they enroll people in health plans; it is against the law to charge consumers for their services. In the same vein, be sure to choose an online source that offers quotes from many insurance companies, all of whom are the top tier of health insurance companies. In addition, you want to do business with an insurance agency that offers service to you even after you sign on the dotted line. Free phone support, and support throughout the time you are enrolled in the health care plan is a must.

Once on the site, your search for health insurance should be a simple, three-step process. You should be able to get quotes, compare plans, and then apply online. The first step is generally filling out contact information for yourself. Next, you’ll be asked for some preliminary information about you and about family members you wish to ensure. You’ll most likely be asked for birth dates, genders, heights and weights, as well as whether each potential insured is a smoker, a student, and currently insured.

The system should then generate a range of plans from a number of insurers. For each quote, the following should be listed: company name, plan name, links to plan details and doctors, the plan type (such as a health maintenance organization, a preferred provider organization, or a health savings account), the deductible, the co-insurance, the co-pay, and the estimated monthly premium. You should also be able to sort the search results by any of these factors.

The best sources for online Texas health insurance will allow you to customize your search by monthly premium, plan type, deductible, co-insurance, co-pay, and carrier. They will also enable you to compare plans by clicking on boxes next to the plans that most interest you.

When you’re ready to take the next step, you should also be able to apply online. The site should allow you to fill out an online form, download and print an application, or request that an application is sent to you via email, mail, or fax. If you apply online, make sure that the application is from a secure server (you can tell by the “https” at the beginning of the URL”).

When shopping for Texas health insurance online, you should expect to receive the same level of service as if you were inviting an insurance broker into your home. When you choose the right online source, you’ll have a partner in securing your health coverage and your future.

Stark Rise In Car Insurance Premiums

The stark rise in car insurance and business car insurance premiums, which was predicted by Norwich Union at the end of 2006 has not materialised.

One of the UK’s biggest car insurers, Norwich Union had stated that in 2007 premiums would have to rise by 16% in order to cover the cost of increased claims. However, the latest AA British Insurance premium index indicates a rise of only 5.9% in comprehensive car insurance cover throughout the year.

The reason given for the halt in premium rates was the much fiercer competition engendered between the UK’s top online insurance companies.

Typically, the report stated, UK drivers paid an average of £594 for fall comprehensive car cover in the previous year. The Index also reveals that those who shopped around in search of cheaper car insurance when it came time to renew the policy, paid on average £194 less, an indicated saving of upwards of 33 percent.

The data also revealed that car insurance for third party, fire and theft could also be cheaper when switching companies on renewal, achieving savings of as much as £225 a year below the average industry quote.

However there are other factors, which may have affected the accuracy of these statistics.

According to a recent article in The Guardian Money Column, the exact circumstances of each driver must be compared in order to reach a true comparison of what is actually the cheaper insurance option. For instance, some insurers will not offer cover for business or commercial use, and other insurers will not offer any kind of policy for younger drivers.

It has also been noted that often the cheapest of the insurers can subsidise their premiums by applying other costs and charges. An example of this can be found in the APR charged when the premiums are paid in monthly instalments. Extra costs have soared by as much as 39% when this has been applied. Also regular drivers abroad are offered free European cover by some insurers, whilst others may charge as much as an additional £20 for a two-week visit to France.

Interestingly, the consumer body icon Which? Discovered that insurance premiums could reduce by as much as 25% by buying directly from the designated company’s website online.

The organisation also suggests that even if only third party, fire and theft is being considered, it would be beneficial to also get quotes for comprehensive car insurance cover, as often
this type of cover may not cost much more, and it may be well worth paying the difference in order to secure additional security and peace of mind.

Cheap Van Insurance

Just like any other insurance coverage – life insurance, property insurance, fire insurance – van insurance also follows the cardinal rule of taking insurance coverage that suits your needs and budget.

To insure that the van insurance coverage that you bought will serve its purpose and your purpose in getting one in the very first place, never haste in determining what your specific needs are and how much are you willing to pay for it. Otherwise, you might end up owning the most comprehensive and most expensive coverage for your van that is not even worth half of what you paid the insurer.

The first step in buying insurance for your van is to know in specific terms why you need to get van insurance. Of course, that the law requires it is out of the question. Ask yourself, what do I value the most that I need to be insured for? What kind of risk do I fear the most that I need to be insured against?

If you value your life and your passenger’s life, then you need to be insured against the risk of physical injuries and death. If you value dignity and honor, and other people’s life, then you need to be insured against the risk of third party liabilities. If you value the van itself, then you need to be insured against the risk of its loss.

If the van is regularly used in the business that puts food on your family table, then you should be insured against the risk of business losses caused by whatever damage to the van. If you value the personal belongings that you or your family usually leaves inside the van, then you should be insured against the risk of losing these personal properties as well.

After you have had determined your needs, it is now time to examine your budget. If you can afford it, it is best and therefore advisable to take the comprehensive insurance coverage. But if you are short on your finances, then dispense with whatever coverage you feel you could leave out but still could drive around with full confidence.

A trusted broker can help you thresh out the really necessary inclusions and services from those that serve nothing but to increase premium.

Bottom line: A well thought van insurance will actually prove heaven-sent while one bought in haste would seem to have burned your money in hell.

Texas Whole Life Insurance

Before you decide to buy whole life insurance over its counterpart, Term Life Insurance, it is crucial for you to understand the basics about Whole Life Insurance in Texas.

The first type of whole life insurance is non-par or non-participating, whereas the second type is participating. The major difference between these two types of whole life insurance policies is that you cannot change them. In terms of a participating type of whole life insurance, the insurance firm will share the dividends with you.

While term life insurance only offers death benefits, whole life insurance creates money value and therefore, offers benefits while you are still alive. Usually, it takes around 10 years or more for whole life insurance to create a money value (also referred to as cash value) for the insurance buyer.

Another advantage of whole life insurance is that, you can lock the price of premiums, thereby paying the same for the coverage annually. Like term life insurance, you have a death benefit which will be given to your beneficiaries in the event of your death. However, with whole life, your cash value increases with time and can barrowed, barrowed against, or withdrawn for your retirement.

Further, depending on the type of whole life insurance that you select, your insurance premium may be able to be paid out of the monthly earnings of the cash value account attached to the whole life insurance policy.

Whole life insurance has higher premiums and offers higher pay out. Premiums are paid for the entire duration for which the person holds the insurance. However, there are certain types of whole life insurances that offer a set amount of payments, whereas the insurance continues for a lifetime, but the premium does not.

The best place to start is a life insurance agent who can explain in detail the differences between whole life insurance and term life insurance. It’s also helpful to have an agent in Texas that is a phone call away and locally positioned to answer your questions after you purchase the policy.

Car Insurance For Teens – Is There A Cheaper Route?

There are remarkable increase both in Teenager Car Insurance Policy and Claims. Normally the premium for teenager car insurance is very high when compared to people over 25 years. However, some insurance companies are considerate towards teenagers and offer cheap insurance polices.

Teenage drivers get into more accidents when compared to age group 30 to 50. If the risk covered is high then the insurance premium will also be high. Suggestions to keep lower premium for car insurance are: Traffic rules and road safety laws are to be strictly adhered to in order to keep the driving license of the teenager clean; driving with in the permitted speed; instead of taking separate policy for teenager, he can be covered as an additional driver in the same policy; enrolment of teenager in regular driving courses and stay away from alcohol.

Car Insurance premium is based on the certain factors viz., 1. Age and sex of the driver; 2. Driving record of driver and how long this person has been driving; 3. City in which the driver lives and 4. Type of vehicle being insured. There are fabulous discounts on premium offered by different companies. The vehicle should be checked before insured with respect to air bag, anti lock brake features and anti theft devices.

Car insurance premium is a real problem for the parents of the teenager. In the teens driving becomes an obsession and to protect them car insurance is a necessity. Insurance companies offer cheap rates for older, heavier cars when compared to sports cars. Older cars are hard to drive and cannot be driven recklessly. The risk coverage on older cars is less compared to new cars. Hence, insurance companies offer cheap rates for old cars. Insurance companies offer substantial discounts on good driving records. Students with better school grades may get good student discounts on insurance premium. A teenage driver can also be included in the family policy listing them as an occasional driver and this will reduce the premium when compared to individual teenager car insurance policy. According to the statistics taken by different Insurance Institutes, teenage car driver is vulnerable to car accidents when compared to drivers whose ages are between 30 and 60. This is the reason that car insurance premium is higher for teen drivers.

Insurance companies consider teen drivers as reckless drivers based on accident frequency and they charge higher premium on insurance policy. However, there are exceptions to this based on the value of the car. Higher value car is charged more premium compared to old and lower value cars. The teen driver has to be advised not to drive recklessly. Family insurance or parent insurance policy for the car is advisable when compared to individual teenage car insurance. This makes every parent not to feel the burden of insurance premium when their adolescent child becomes licensed to practice driving. The teens should get away from lack of driving by properly learning driving by joining a driving course which makes the teens to get cheaper insurance rates than teens that do not undergone driving course.

Simplifying the Process of Finding Affordable Health Insurance

As consumers’ choices increase when buying affordable health insurance online, so has the growth of benefit information within those plans. Today there are thousands of broker-sponsored websites ready and able to serve the consumer.

However, there are many pitfalls to watch for when buying something from someone you don’t know, filled with information you don’t understand. Many of these sites lack information that is crucial to make an educated decision when getting health insurance quotes.

Keeping up-to-date information is a vast challenge for companies; some sites offer up to 80 different carriers providing 150 separate types of individual, family, or business insurance. With this much information, a change to one of these products can often take up to 30 days to be reflected in online insurance quotes.

It’s difficult for insurance brokers, much less the untrained consumer, to find the right information and make the right choice when getting health insurance quotes. So what can the consumer do when faced with this informational overload?

As simple as this may seem, find a company whose site provides enough insurance information for consumers to do a little homework. A Glossary is a great starting point, as you can familiarize yourself with many of the terms you will encounter when shopping for affordable health insurance. When getting a health insurance quote online, be sure you know who you’re working with.

Using a service that provides you multiple quotes from various carriers (insurance companies) is a great way to simplify the process. Make sure the health insurance quote web site you are using only works with reputable licensed insurance agents, solid insurance companies, and that they can be easily contacted. I simple way to see if a real person is on the other end is to simply call a conspicuously placed toll free number on the page. If a phone number isn’t present, you should consider requesting an affordable health insurance quote from another source.

What Is Insurance Premium Finance?

A premium finance transaction involves the borrowing of money from a bank or hedge fund to pay the premiums of a newly originated insurance policy. Premium finance is available to seniors age 65 and older. The majority of financed policies have a face amount of over $1,000,000. The senior will borrow the money for a predetermined length of time ranging from 2 years to life. The same banks and hedge funds involved in life settlements are also the lenders for premium finance transactions.

Senior citizens who qualify for premium finance are typically in good health with a high net worth. Financing is a great financial tool for senior citizens who need the coverage of an insurance policy for estate planning or wealth transfer. It allows these health seniors to purchase the policy at little to no out of pocket costs.

Many of the financing options available today are approved by the insurance carrier. These programs, called recourse financing, involves the client putting up a letter of credit or other form of collateral to offset the loan should there be a default. Non-recourse financing uses the policy as the only collateral requirement for the loan. Should the insured default on the loan the rights within the policy would revert to the lender. It should be noted that there are no documented incidences of a lender exercising the letter of credit or collateral in a recourse finance deal. The lender always takes over the policy as in a non-recourse program.

At the end of the loan term the insured can pay the total loan amount plus interest to the lender and keep the policy. If the coverage is no longer needed or wanted the policy can be marketed and sold in the secondary insurance market. The proceeds from the same will be used to pay back the lender with the remainder going to the insured. If the policy is no longer needed or wanted and not saleable the policy will revert to the lender.

Premium financing is the fastest growing sector of the secondary insurance market. Many baby boomers are asset rich and cash poor with a need for the protection provided by an insurance policy. All seniors who fit into this category should contact their financial advisor or life settlement and premium finance broker to discuss the options available to them.