Insurance Tips: Steps to Buying Auto Insurance

When it comes to auto insurance, you want to be adequately covered if you get in an accident, but you don’t want to pay more than you have to. Unfortunately many people are doing just that, simply because they don’t want to spend time shopping for car insurance.

Mahalia Shenna Blog


When it comes to auto insurance, you want to be adequately covered if you get in an accident, but you don’t want to pay more than you have to. Unfortunately many people are doing just that, simply because they don’t want to spend time shopping for car insurance.
http://www.edmunds.com/auto-insurance/10-steps-to-buying-auto-insurance.html

View original post

Advertisements

5 Tips for Choosing the Best Home Insurance

Go over any other special circumstances you want to cover, such as items your college aged child may have at school or that in-law apartment that you are renting out but not supposed to.

4. Natural Disasters

Ask about whether your policy includes adequate or any coverage for natural disasters such as Flood, mudflows or landslides.

5. Lawsuits

Determine whether you have enough homeowners liability coverage. This is the coverage that protects you and your family against property damage or bodily injury claims for which you are legally responsible. It would cover you, such as, if someone slips and falls on your property or if your dog bites someone.

Lower Your Mortgage

Price should not be the only consideration when choosing a Home Insurance Policy. You also want the policy to be tailored to your home and family.

The following are 5 tips for making sure you have the best plan for your needs:

1. Cash Value vs Replacement Value

Compare the cost of actual cash value coverage vs. replacement cost value insurance for your personal property, your home and other structures on your property.  If you don’t know the difference between cash value and replacement value is, you should before choosing a company.

2. Additional “Riders”

Is your grandmother’s diamond covered? Review the cost of additional “riders,” or additions to your policy for special items like antiques, collectibles and family heirlooms.

3. “Other” Items

Go over any other special circumstances you want to cover, such as items your college aged child may have at school or that in-law apartment that you…

View original post 82 more words

Life Insurance Guaranteed Issue?

Since your acceptance is guaranteed, your rate will be much higher than you would pay for life insurance if you were healthy and were taking a medical exam to qualify for coverage.

With guaranteed issue life insurance there is no health exam required and there are no health questions asked.

Some plans start for as little as $10 per month for a small amount of life insurance coverage.

Here’s how you can learn more and compare life insurance guaranteed issue plans online.

Life Insurance Plans Online

What is guaranteed issue life insurance?

It’s a type of life insurance plan where the person applying for coverage cannot be turned down.

These are usually life insurance policies that offer a small amount of life insurance up to $20,000 of coverage, and provide graded death benefits, meaning you will not have full coverage until you have been insured  by the policy for at least two years. That’s how the insurance company can guarantee your acceptance even if you have health problems.

Since your acceptance is guaranteed, your rate will be much higher than you would pay for life insurance if you were healthy and were taking a medical exam to qualify for coverage.

With guaranteed issue life insurance there is no health exam required and there are no health questions asked.

Some plans start for as little as $10 per month for a small amount of life…

View original post 16 more words

Insurance and Internship

The marketplace is a helpful option since rates for the Luther Seminary health insurance plan have increased dramatically. Each year we attempt to build a cushion into the figure provided on the Financial Matters page on the Contextual Learning website as well as in the internship site application. Unfortunately, the Luther Seminary health insurance rate continues to far outpace our estimates; next year’s rate is a 20% increase over 2013-14. The premium for September 1, 2014 – August 31, 2015 will be $3,566.

As has been the case for a number of years, a congregation is expected to pay for the cost of a full-time intern’s health insurance premium, up to the cost of purchasing the Luther Seminary health insurance plan; for a two-year/part-time intern the cost is 50% of the premium cost each year of the two years of internship.

Sites:

  • If the intern plans to purchase coverage through Luther Seminary, the internship site will send payment to the Business Office and it will be applied directly to the student’s account. This can be paid in one sum at the beginning of September or by contacting the Business Office to arrange a payment plan.
  • If an intern plans to purchase coverage outside of the Luther Seminary health insurance plan, and if there is a cost associated with the intern’s portion of the premium, the congregation is expected to pay that amount directly to the intern.

Students:

  • The student deadline to waive or enroll in the Luther Seminary insurance plan was September 15.
  • Students planning to apply for individual coverage through the marketplace may do so prior to the open enrollment period which begins November 15. The end of health insurance coverage through the Luther Seminary plan on August 31 is considered a “life-changing” event, allowing individuals to secure coverage through the marketplace.

The issue we are currently looking into

It’s all about the interpretation of the D. of Labor notice (Nov. 6:http://www.dol.gov/ebsa/faqs/faq-aca22.html) which seems to prohibit churches/businesses from reimbursing premiums with even post-tax dollars.

If a congregation is no longer able to pay for insurance through the seminary, they either can’t or won’t pay for a policy through the church for one-year full-time employee (in a number of cases a part-time employee) and a student isn’t covered by a partner/spouse policy, then how do we help support the student financially?  The higher stipend ($1,300) isn’t scheduled to begin until 2016.  That increase will now likely go to cover health insurance secured through the marketplace for those who need it.  I wonder if we should reconsider the stipend increase?  Perhaps we need to request that it be raised further to cover potential insurance cost and remove insurance support from the financial equation altogether.  Those who have insurance through a spouse/partner or congregation policy would benefit from a higher stipend, but those who don’t and need to access coverage through the marketplace wouldn’t be penalized. This is an adjustment for the future, but I’m not sure how we make this work for 14-15 and perhaps 15-16.

Are You Considering Getting Life Insurance

5Insurance coverage is not a very widely discussed topic now is it? But if you think that it isn’t discussed too much because it isn’t very popular or common, then you will definitely be wrong. In fact, life insurance is a very widely debated topic when it comes to choosing a policy. Once you choose an insurance policy, there is very little which you can do to change the terms and conditions of your policy. Anything that you want to change will have to be discussed before you choose your policy. You may be able to get some of the things you ask for but other insurance providers are quite strict about their policies and aren’t willing to make changes for anyone. If you look at the Profil ERGO assurances, you will see that they aren’t one of those providers. They will definitely be able to help you get answers to all your questions regarding insurance and will also modify their policies in whatever way possible to suit your specific needs. Now isn’t that awesome?

Now as far as the premium of your life insurance is concerned, the main determinant is going to be your health. If you are a healthy young individual, you will obviously have to pay a much lower premium. But if you constantly engage in bad habits and are out of shape, you may have to pay a huge premium just to get a life insurance policy. There will be very little room for bargaining with your policy as well. You will pretty much just have to accept whatever is offered to you. That’s just how life insurance works for people with poor health.

The amount of premium you are going to have to pay will also depend on the amount of coverage you are looking for. If you want a huge payout in case you die, you are going to have to pay a huge premium upfront. On the other hand, if you want just enough to cover the needs of your loved ones, you will have to pay a moderate premium. What’s important for you to understand here is that there is no need to take the additional burden of a huge insurance premium on your head unless you want to struggle through life trying to make the payments. Never go for more than you can afford with your life insurance premium. This way you will not only be secure in case you die but will not have to pay through your nose while you are alive either.