Insurance for Life

Motor Insurance

2010-01-18T15:53:00.003+08:00

You need motor insurance when you buy a motor vehicle. Motor insurance covers your vehicle, be it a motorcycle, a car or a lorry, in case of accidents or theft.

There are three common types of motor insurance available: third party; third party, fire and theft; and comprehensive cover. The level of your coverage dictates what you can claim if your vehicle sustains loss or damages.

Choosing a Policy

When it comes to buying a policy, always:

1) Check the market value price of your vehicle. If it is a new vehicle, the insured value will be the

purchase price.

2) Ensure that your vehicle is adequately insured as it will affect the amount you can claim.

3) Give all material facts about your vehicle, including previous accidents (if any), modification to engines,

etc. When in doubt, it is best to ask your insurance company.

How much should I cover?

Make sure that the amount covered in your motor insurance certificate reflects the market value of your vehicle and not any other value to avoid over-insurance or under-insurance. You may check the market value of your vehicle from www.carprices.com.my.

How do I claim?

If you are involved in a motor accident and have a comprehensive cover, you may either make an own damage claim or a third party claim. There are different procedures involved. Inform your insurance company immediately and act according to their instructions. You may need to send your damaged vehicle to an approved workshop. You may check for the list of approved workshops from your insurance company. Make sure you send all relevant documents to support your claim to your insurance company as soon as possible.

More info : www.insuranceinfo.com.my

Buying Life Insurance After Being Diagnosed With Cancer

2009-05-31T20:01:00.004+08:00

The American Cancer Society estimates doctors will diagnose over 1.4 million new cases of cancer in the U.S. in 2007, with more than 559,650 cancer-related deaths. If you are among the majority of cancer patients and survive for at least five years following your diagnosis, you may face another fight: buying life insurance.

Buying life insurance for cancer patients is challenging, but not necessarily impossible. Your chances for securing a policy depend greatly on the type, stage and grade of the cancer, and even on the treatment plan. There is a relationship between the rate you'll receive and the curability of your cancer. Certain types of skin cancer, for example, are considered very low risk by life insurance companies and a skin cancer history may not even impact premiums.

Applicants with common and treatable forms of breast and prostate cancer may be able to get a "standard" rating under ideal circumstances. But patients with a history of leukemia or colon cancer may fall into a "substandard" or "high substandard" rating at best, or receive declines. Anyone with cancer that has metastasized likely won't be able to obtain a policy.

Dr. Charles Levy, senior vice president and chief medical director of AIG American General Domestic Life Insurance Cos., says, "We're better and better able to differentiate the risks of individual cancers." Life insurers like AIG American General have sophisticated tables to determine premiums, where they can factor in cancer types and treatments. The end result is better premiums because applicants aren't lumped together as an "average."

Most insurers will not offer a policy to someone who is still undergoing treatment for cancer. Depending on your type of cancer, the life insurer may also want to add a surcharge, also called a temporary flat extra. For example, AIG American General sometimes charges temporary flat extras for two to five years, depending on the applicant's cancer and treatment. The good news is that although these extra premiums can be expensive, they will automatically disappear after a set period of time.

Cancer insurance risk specialists

While a dedicated life insurance agent will search cancer insurance companies to find insurers that will sell you a life insurance policy, in some cases you may be better off seeking out a broker who specializes in finding life insurance for people who have a history of cancer.

These brokers will know the specific questions underwriters will want answered when considering your application. Many brokers have developed relationships with several insurers, so they know which companies offer the best-priced life insurance policies for cancer survivors. Some brokers have experts who specialize in gathering your medical records and organizing them.

By directing your application to life insurers that will view your application most favorably, these brokers will help you find the most accurate price quotes and the lowest premiums for life insurance. Always check the financial strength of the insurer before you buy any policy and be sure that the agent or broker you choose is licensed in your state.
Life insurance strategies for cancer survivors

If you are a healthy cancer survivor, life insurance is even more feasible. There are things you can do to ensure you're getting the best premium offers possible for your situation.

1. Gather all possible medical records before you apply, from the first pathology report to medical records to treatment records. That ensures medical underwriters have the most complete picture of you, your health, and your cancer history. Having all those records before you apply for cancer insurance will reduce delays in your application process, because your life insurer is going to request them and will wait for them. The information you provide can garner you better premiums in the end: The less life insurer underwriters knows about you, the more likely they are to have to assume you are the highest risk and offer you high premiums accordingly. According to Levy, "If it's fuzzy, we're more likely to err on the side of conservatism."

2. Make sure you have complied with your doctor's treatment plans. For example, says Levy, if your doctor asked to see you back in one year and you haven't been back in four years, get to your doctor for your check-up before you apply for life insurance. Your life insurer is not going to offer you a policy without before seeing the results of that check-up. Similarly, if you've had breast cancer and you're due for a mammogram in December and you apply for cancer insurance in October, your life insurer will likely wait for the results of your next mammogram.

3. Get prices from several companies. Policy costs can vary a great deal among companies.

4. See if you can get group life insurance through a professional, fraternal, membership, or political organization to which you belong.

5. Consider a "graded" policy (one with limited benefits) if you cannot get full death benefits. In the first few years of a graded policy, the company pays only the premiums and part of the face value if the insured person dies of a condition, such as cancer, that existed before the policy took effect. If the insured person dies after the specified grading-in period, the company will pay the full face amount of the policy.

If your cancer has been successfully treated, and you are otherwise in good health, you can likely obtain a cancer life insurance policy. If you can show that you are healthy and your treatments have gone well, several insurers may compete for your business.

Term Life Insurance - Who Says Insurance Has To Be Expensive?

2009-05-20T07:07:00.001+08:00

Term life insurance has been described as a bet you do not want to win, but if you do, your family will be eternally grateful you gambled! Simply put, term insurance is a bet with the insurance company that you will die and make a claim within a set period of time, known as the term hence the name, term life assurance.

Term life insurance comes in many different forms and probably we come across it most often when buying a home. Here we have a mortgage for an amount that we know, that is going to last for a term that is set at the outset so it becomes very easy to see how much and for how long we need an insurance policy to cover the debt in the event of our death.

Mortgage protection policies tend to have a variety of features that can be used as and when our mortgage situation changes. We may move home, change the mortgage, borrow more money for a new kitchen or suffer changes in our financial situation that require economies to ensure the mortgage gets paid to keep the roof over our heads.

Term insurance policies also find a place when covering business situations. Frequently, the death of a partner in a business will cause an issue in that their share of that business will be left to be inherited by their beneficiaries. Now just consider whether you want your business partners spouse suddenly turning up to your business and telling you how they want you to run the business? Could you work with them? Can they actually work in the business anyway?

Under these circumstances it makes a great deal of sense to establish life insurance cover for the partners. The insurance proceeds will then allow the surviving partners to simply and conveniently buy the deceased partners share of the business. The business is not subjected to unneccessary disruption and the deceaseds beneficiaries receive the value of the business shares without the need for the business to be sold or subjected to potentially crippling debt taken out to pay them off.

Travel insurance is another form of term insurance though the term may be as short as a day! Travel insurance will very often include a death benefit but the primary purpose of coverage here is to ensure the insured receives proper medical treatment where they are, failing that, arrange for their repatriation and in the event of death, ensure the body can be transported home for burial.

It is not uncommon to see term insurance offered to exclusive groups of people. Insurance companies do this to minimise the risk to themselves posed by paying out claims, which in turn directly affects the premiums that are charged. If a group of people, say of a certain age, or particular health bracket e.g. non-smokers, wish to benefit from more advantageous premiums then it makes sense that they look for insurers offering special terms for these exclusive groupings for insurance purposes.

Finally, term insurance has a place for most of us in our lives at one point or another. First of all establish what you need the cover for, how much and under what terms which will then lead you to whether a term insurance contract is right for you. Following this simple principle will help make your negotiation of the insurance maze that much more easy.

How to Choose a Business Insurance Professional

2009-05-17T12:13:00.003+08:00

Choosing the right insurance professional is the key to a successful business insurance plan for your business. Before you commit to hiring an insurance professional consider the following points.
Decide Whether You Will Use a Broker or an Agent

Decide whether you will use an agent or a broker.

Generally, the larger your business is the more important it is for you to use a broker instead of an agent. Use a broker if you:

* have a large number of employees
* have a large number of vehicles and drivers change
* are in an industry with exceptional risk
* can't review the business insurance plan regularly

Consider using an agent if you:

* have a small business with few or no employees
* have few or no vehicles
* are in a business where the risks are well known
* will regularly review the business insurance plan.

Interview and Investigate Several Insurance Professionals

Get referrals for insurance professionals from others in your business, or your local chamber of commerce. Arrange meetings and interview each referral personally.

All states have a department of insurance that keeps records of all agents and brokers licensed to do business in your state. These records are typically online and easy to search.

Investigate their background and look for:

* A current, valid agent or broker license.
* Complaints or ethical violations.
* Administrative discipline.

While complaints are not uncommon, administrative or ethics charges are usually a warning to choose another professional.

Demand Accessibility and Excellent Service

When interviewing your potential insurance professional, make it clear that you are securing their service temporarily (one year or less)and you will continue working with them only if they are accessible and provide excellent service.

Demand returned calls within twenty-four hours. Demand to have premium bills and statements arrive on the same day of the month and in good order.

Because there are always other professionals willing to work with you, demand accessibility and excellent service. If you find that service is lacking shortly after payment of the initial premium, then find another professional.

Book For Insurance guide

2009-05-17T11:44:00.006+08:00

This is one of the best book for insurance guide in Malaysia(also can be used for another country)

Book Title: Guide to Hospitalisation and Surgical Insurance in Malaysia
ISBN: 978-983-3794-23-2
Publisher: Leeds Publications (M) Sdn. Bhd.
Released on June 2008
Format: Paperback
Size: 6 x 8 inches
Pages: 380
Author: Pee Che Yong
Price: RM42.80 / USD11.50

Description:

Hospitalisation and Surgical (H&S) insurance is getting popular in Malaysia. Escalating medical treatment costs force consumers to urgently look for H&S insurance as an alternative in preparing themselves financially in the event of serious sickness or accident. This book therefore provides readers with more informed and wiser decisions on choosing suitable H&S insurance.

Interested? click here to more info.

Senior Health Insurance Plan - Where to Get the Best Rate

2009-05-17T11:36:00.003+08:00

Senior health insurance plans can be both expensive and confusing.

What does Medicare cover? Do you need an additional individual health care plan? If so, do you need full medical coverage or will a PPO or HMO suit your needs? And most importantly of all – will you be able to afford the coverage you do need?

Medicare and More

Once you're 65 years old, Medicare covers some of your medical expenses, such as inpatient hospital care, nursing home care, hospice care, and some home health care, all with no deductible or monthly premium. Additional services such as prescription drugs, doctors’ services, outpatient hospital care, medical equipment, and physical and occupational therapy are also available but include a deductible and monthly premium.

Medicare beneficiaries may also choose to join an HMO or PPO as an alternative to traditional fee-for-service Medicare. Seniors must choose a physician from within the network, but the plans provide the full range of Medicare services at a lower cost.

While Medicare covers many health care expenses, it does not cover everything. In addition to Medicare, many seniors choose an additional health care plan to cover the gaps and help reduce out-of-pocket expenses.

The most affordable individual policies are HMOs or PPOs, in which seniors receive lower premiums in exchange for less flexibility in choosing a health care provider.

Finding an Affordable Plan

If you're looking for an affordable senior health insurance plan, whether to supplement or replace Medicare, you should go to an insurance comparison website to run some quotes. On these websites, you can quickly and easily obtain quotes from multiple A-rated insurance companies.

You simply fill out a secure online form with information about yourself and your insurance needs. Once you submit the form, you'll begin to receive quotes from insurance companies.

At the best insurance comparison websites, insurance experts are standing by to talk with you and answer any questions you have about senior health insurance plans.

Visit http://www.LowerRateQuotes.com/health-insurance.html or click on the following link to get affordablesenior health insurance quotes from top-rated companies and see how much you can save. You can get more tips and advice in their Articles section, and get answers to your questions from an insurance expert by using their online chat service.

Understanding Road Accident Compensation

2009-05-17T11:23:00.002+08:00

A road traffic accident can occur at any time and may involve any number of road users, from motorists to cyclists and pedestrians. The type of road traffic accident you may be involved in also varies; you may find yourself involved in a hit and run accident, a collision with an emergency vehicle, or having sustained an injury as a passenger, such as whiplash.

Statistics reveal that the number of road accidents occurring in Scotland is down overall; however, 16,213 road casualties were still reported in 2007. While this figure may seem alarming, it is in fact a reduction of 28 per cent on figures from 1997, when 22,629 casualties were reported.

Whatever the cause of your road accident, if you have suffered a personal injury through no fault of your own, you may be entitled to make a claim for personal injury compensation. As the claimant, you may seek recompense for sustained personal injury, loss of earnings through not being able to work or damage to property, all of which can result from a road accident.

In Scotland, you can make a claim for accident compensation up to three years after an incident takes place and most personal injury claims are settled within six to nine months; however, if you sustained significant personal injury, you could find that your claim takes much longer to settle.

If you are seeking to make a claim for compensation, you could also benefit from seeking independent legal advice, prior to contacting a solicitor to act on your behalf. If you have sustained a minor injury in the accident, you may also be advised to contact your GP, as well as keep a record of how the accident has affected your health, such as sleep deprivation, chronic pain or an inability to partake in normal elements of your life, such as exercise or caring for your children.

The law in Scotland differs from elsewhere in the UK when it comes to making a claim for road accident compensation. Certain terms are different, as is the compensation rates you may pay to a solicitor acting on your behalf. While many solicitors in Scotland will offer a ‘no win, no fee’ service, otherwise known as a speculative fee arrangement, it is not operative legislation north of the border and solicitors will not always guarantee 100 per cent of your compensation.

This is because the amount of compensation you receive is dictated by the way in which Scottish solicitors claim their fees. Because of this, many of the costs incurred through the claims process must be bore by the claimant’s compensation, rather than paid for by the defendant. This system works to save the defendant from bearing enormous legal fees brought by the claimant’s case. If you find yourself in the position of making a claim for accident compensation, you could benefit from contacting The Law Society of Scotland to find out more about fees and your rights.

In Scotland, when you come to pay solicitor’s fees, their rates work on an incremental scale. For example, on claims of up to £2,500 you may find that you pay in the region of 25 per cent, while for claims over £20,000 you could find that you pay 2.5 per cent. However, because the solicitor is paid only from your compensation, you can rest assured that their effort is measured.

Fees aside, if you are eligible to make a claim for road accident compensation, you could stand to be awarded significant remuneration, so it pays to look into what you might be able to claim, even if your accident happened over a year ago.

Cheapest life insurance

2009-05-15T15:03:00.002+08:00

Choosing the right way to buy life insurance can save you thousands of pounds. We explain how at the bottom of this guide, but first a few other issues...

What to buy

A range of insurance policies will pay some kind of benefit if your health suffers or you are unable to work. You can read about the different types here. Life insurance is the cover that pays a specified sum if you die. Unlike other health related insurances, there are no criteria that need to be met when the insurer decides if you can claim: you are either dead or you're not. That means that the policies on offer are, broadly speaking, the same and that buyers can hunt for the cheapest policy without having to compromise on the standard of cover. However, there are some important points to remember. You can buy three types of life insurance - level term assurance, decreasing term assurance and whole-of-life insurance.

How to get the cheapest life insurance (cutting out the middleman)

Level term assurance is taken out for a specified period of time - known as the term. The term is set according to the length of time the customer wants to be covered. They may base this on the period they expect their family to be financially dependent on them, or the term of their mortgage. The lump sum that level term assurance pays out remains the same throughout the term. For decreasing term assurance the sum the insurance pays will fall over time. This is so that it can be bought in connection with a repayment mortgage where the amount the individual wants to cover gradually reduces in line with the debt. Because of this, decreasing term assurance is usually cheaper than level term assurance. Whole-of-life insurance pays a guaranteed amount when you die and there is no specified term. However, the premiums for this type of insurance can change. A proportion of the premium you pay is invested and its growth helps keep the premiums low. However, there have been reports of sharp increases in whole-of-life premiums. These polices are often used as part of inheritance tax planning and you should consult a financial adviser before buying one.

How much insurance should you get?

Decide what you want the insurance to do. If it is to pay off all debts, including a mortgage, and provide a good standard of living for your dependents you should calculate the cost of these when you buy. If these potential costs are likely fall over time – the mortgage is repaid and children become financially independent – you could reduce the cost by buying decreasing term assurance. Think about other costs your insurance might have to cover, for example funeral expenses. It may be that you have other insurance polices or employee benefits that provide if you die. Take these into consideration to reduce the cost of your cover. Many people already have 'mortgage term assurance'. Uusually, these policies are sold to people when they take out a mortgage. Put simply, it covers the value of the mortgage, but nothing more. If you have it, you can subtract the cost of your mortgage from the amount of life assurance you need to buy. Use our life insurance calculator to give you an idea of how much you should be taking out. Get value for moneySome relatively simple measures allow you to greatly improve the value you can get from life cover. Couples are often offered joint life insurance polices. This means the policy pays the same sum if either of them dies. However, this is only suitable if both parties need the same level of cover. What's more, the price of joint cover is often only slightly cheaper, if at all, than two single life policies with the same sum assured for each. Taking out two separate policies instead of a joint policy means that, if the very worst were to happen and both parties died, any dependents would get twice the pay out. Get you policy written 'in trust'Another important step when buying life cover is to ensure it is written 'in trust'. Put simply, this means that the proceeds from the life insurance policy would fall outside an individuals' estate when they die, and would therefore not be taken into consideration when calculating inheritance tax. Writing a policy in trust is relatively simple but does require some form filling. Customers who buy insurance without receiving advice from a regulated adviser are not always made aware of the option of writing the policy in trust. You can read more about this here. If you are unsure about the best course, it may help to speak to a financial adviser.

Pay less for your cover Insurers calculate your life insurance premium by using information about your health, age, occupation and lifestyle. So a stunt man with a 50-a-day smoking habit will pay more than a vegan librarian. Most people will be unwilling to do something as drastic as changing their occupation to get cheaper life insurance, but some may be willing to lose weight or give up smoking. You have to have given up for at least one year to be classed as a non-smoker but making the effort can can wipe pounds from monthly premiums. And even if you go back to becoming a smoker, your insurance policy should still stand.

How to get the cheapest life insurance policy Nowadays you can pick up life insurance from the shelves of your local supermarket, as well as through price comparison websites as well as the traditional insurance broker or a financial adviser.

Traditionally, brokers have been a better option than going direct to an insurance company - they help you to compare the cheapest.

Now, a new breed of broker is far cheaper than traditional brokers. Here is why...

• Brokers are paid by commission from the insurance company, typically £700.

• Some of these brokers are willing to give up the commission they recieve in order to make your policy cheaper.

• They spread the commission, say £700, over the monthly premiums on your policy, possibly making it a few pounds cheaper every month. On some policies, this could save you thousands of pounds.

this articles was taken from : http://www.metro.co.uk/

American Life Insurance-one of the Most Trusted Company

2009-05-15T10:41:00.000+08:00

American Life Insurance the most trusted company which has a reputation of about 87 years. This company is one of the globally recognized life insurance companies and it has a number of branches all over the world which has a vast customer line following. American Life Insurance gives various tax benefits to all its insurance policy holders and it also takes care of all your life insurance related policies like retirement insurance policy, wealth management policy, medical insurance, health insurance etc.

Life insurance basic terms as you know is an important factor in every person's life and when it comes to life insurance age is not the main criteria when it comes to get your life insured. American Life Insurance also known as AIG insurance company and majority of Americans has insured themselves with this life insurance company. The market value of this company is high and you can find the companies ratings in the financial books due to their vast financial transactions with other financial institutes.

There are two major life insurance policies that this AIG Insurance Company deals with i.e. the Term Life Insurance and Whole Life Insurance. In case of Term Life Insurance the policy taken is for a short period of time and Whole Life Insurance is where you get yourself insured for your whole life.

AIG insurance company is one such life insurance company that charters to the needs of the common person. One of the benefits of getting insured in this life insurance company is that you reap a rich harvest of life insurance benefits on all your life insurance policies which no other life insurance company provides you as this company provides you with the benefits when you are still alive.

This life insurance company in order to increase its relationship with their vast flowing customer's have started life insurance online services which has made it easy and convenient for them to get themselves and their family members insured staying within the very comforts of their own house. AIG Insurance is one of the most sought of companies and it is a tough competitor to other life insurance companies.

How to Collect on Lost Life Insurance Policies

2009-05-15T10:36:00.000+08:00

A relative has just died. He had a life insurance policy with you listed as the beneficiary. There's just one problem: the life insurance policy is missing. You have no idea which insurance company wrote it.

If you find the missing life insurance policy in the future, are you still eligible to receive the death benefit?

Hope they paid their insurance bills

If you're a beneficiary and you find the lost life insurance policy shortly after the insured dies (within six months to a year, for example), claiming the death benefit should be trouble-free.

First, determine if the insured had term or permanent life insurance. If the insured held a term policy, you'll receive the death benefit if he died before the end of the policy term. If he died after the policy expiration date, you would get nothing.

If the insured had a permanent life policy, you'll receive the money if the death occurred while the policy was "in force," meaning all premium payments were made up until the time of death. If the death was a while ago, you'll receive the benefit with interest from the date of death.

If the life insurance policy lapsed — meaning the insured stopped making premium payments before he died — there's a chance you might get nothing. When a permanent life insurance policy lapses, most insurance companies switch its status from permanent insurance to one of two options:

"Extended term" — The insurance company uses the cash value of the policy to buy a term life insurance policy for the same death benefit using the cash value of the policy. The death benefit will continue for the longest period the cash value will purchase.

"Reduced paid up" — The insurance company will keep the policy in force permanently, but will reduce the death benefit.

Gerry Brogla, an actuary for State Farm, says in the majority of the cases at his company, the permanent policy continues as extended term if it lapses. At State Farm, extended term is the default option for most permanent policies.

If the policy lapses, and the extended-term period expires before the insured dies, the policy is worthless and the life insurance beneficiary will get nothing. If the insured dies before the extended-term period is up, the beneficiary will receive the death benefit. If the policy lapsed because the insured died (thus ending premium payments and causing the insurance to be placed in extended-term status), the beneficiary will still collect the full death benefit, regardless of when the extended term was up. The beneficiary always needs to supply the insurance company with a death certificate to verify the date of death.

There is no time limit during which a life insurance beneficiary must step forward to collect the money, according to Jack Dolan, spokesman for the American Council of Life Insurers. "If a person shows up 30 years after [the insured's] death, the company still makes good on it," Dolan assures.

What happens if no one ever reports the death?

If the insured dies and the insurance company does not learn of the death, the policy lapses. Insurance companies will take steps to find out why a policyholder stopped making payments.

When an insurance company stops getting payments, it sends letters to the insured informing him the policy may lapse as a result of unpaid premiums. If the letters go unanswered, the company might initiate a search to find the insured. If that comes up empty, the company will then lapse the policy.

If a beneficiary to a policy never steps forward, it unfortunately means the insured paid money to a policy throughout his life and his beneficiaries never see a penny. This is why its a good idea to make sure beneficiaries are aware of any life insurance policies you have.

If you're lucky, the state may have your money

In some cases when a beneficiary fails to claim a death benefit for several years, the money is transferred to the state where the insurance policy was purchased under the escheat laws.

If a company knows an insured died and it cannot find the beneficiary, it must turn the full death benefit over to the state comptroller's department within three to five years of the insured's death. The money is transferred to the state where the insured bought the policy. The money is considered "unclaimed property" and gets lumped in with dormant bank accounts and uncollected rent deposits. The comptroller's department maintains a database that lists the names and addresses of lost life insurance beneficiaries.

Many states will try to contact life insurance beneficiaries in an effort to pay the death benefits. In Texas, for example, the names and addresses of the beneficiaries are published annually in each county in the state. In New York, the Web site of the New York State Comptroller's Office of Unclaimed Fundshas an online search to find any unclaimed death benefits owed to you. You can find out the procedures in your state by contacting the office of your state comptroller or treasurer.

Keep in mind your chances of finding the policy with the state are slim. The insurance company has no obligation to hand the money over to the state if it's unaware the insured died. In most cases, it's the beneficiary who contacts the insurance company.

Also, the insurer only transfers the money to the state three to five years after it cannot find the beneficiary but knows the insured died. If the state doesn't have the death benefit, it's likely the insurer is still looking for the beneficiary or doesn't know the policyholder has died.

Unclaimed death benefits are rarely transferred to the state. Dave Potter, a spokesman for Hartford Life, says less than 1 percent of his company's death benefits go unclaimed.

Del Chance, a life insurance claims manager at State Farm, says, "Turning over life policy benefits to an individual state after the death of an insured is extremely rare. State Farm utilizes their own search techniques as well as outside vendors to locate lost beneficiaries in the event of the death of one of our insureds. By and large these procedures have always located the beneficiary.

Tips for making sure your life insurance beneficiaries get your death benefit:

1. Give your beneficiaries your policy information. It can be a difficult and awkward conversation, but an important one.

2. Keep all your financial records (especially your life insurance policies) in one place. Don't force your beneficiaries to search your house from top to bottom after you die.

Tips for looking for lost life insurance policies:

1. Go through canceled checks or contact your relative's bank for copies of old checks. Look for checks made out to insurance companies.

2. Ask those who may have known about your relative's finances. Speak with the relative's lawyer, banker or accountant. Also contact the relative's insurance agent.

3. Contact your relative's past employers. They might know of possible group life insurance. The insured might have also purchased supplemental life insurance through work.

4. Check the mail for a year. Premium bills and policy-status notices are usually sent annually.

5. Look at income tax returns for the past two years. Check for interest income from policies or expenses paid to life insurance companies.

6. Contact the Medical Information Bureau. If your relative bought life insurance fairly recently, there might be a trail of the companies to which he applied. The Medical Information Bureau (MIB) maintains a database that might show if insurers requested your relative's medical information within the past seven years. Record searches can be requested through the MIB's Policy Locator Service and cost $75. The MIB says that nearly 30 percent of searches turn up leads.

Cheap Car Insurance: Factors that Affect Your Car Insurance Rates

2009-05-15T10:31:00.000+08:00

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.

While you can’t change your age and some other factors, there are things that you can do to keep insurance premiums as low as possible.

Factors you CAN’T change that impact your auto insurance rates:

* Your age
Dick Clark and Sophia Loren notwithstanding, aging is unavoidable. And while you may be a mature-looking teen or a youthful octogenarian, the oldest and the youngest drivers are far more likely to have accidents.
* Gender
Whether it’s the mothering instinct or fewer NASCAR fantasies, women statistically make safer drivers.
* Marital Status
Ok, you can change this, but there have been no reports of people marrying simply to lower their insurance rates.

Factors you CAN change that impact your auto insurance rates

* Geography
Where you live matters. For instance, those living in rural America are far less likely to have a collision or a stolen car than those living in a city. But, sometimes even just moving across the street can change your rate.
* Driving violations
Speeding tickets, running red lights, failure to yield, etc. all count toward your auto insurance rate.
* Your vehicle
If you must have that cherry red Corvette or the Ferrari Testarossa, be prepared to pay for it. Your insurance premiums will be higher.
* Accident claims
While you can’t change the past, keeping your slate clean and free of accidents will hold you in better stead than lots of fender benders.
* Credit rating
That’s right — many insurance companies view having a poor, or even no credit history as suggestive of higher risk.
* Occupation
A little easier said than done. Believe it or not, insurers have found correlation between your occupation and risk. Makes sense that the pizza delivery guy could be a higher risk!

Other factors that go into determining premiums:

* Miles driven per year
* Distance to work
* Occupation
* Years of driving experience
* Business use of the vehicle
* Whether or not you currently have auto insurance
* Theft protection devices (often results in discounts)
* Multiple cars and drivers (another opportunity for discounts)

Overwhelmed?
It can be more than a bit confusing when trying to decide the best and most affordable coverage for your vehicle. Like anything else, get good advice and comparison shop. With the W
verage for your vehicle. Like anything else, get good advice and comparison shop. With the Web at your fingers, you have all the information and power to get the best deal.

10+ Tips to Help You Save on Car Insurance

2009-05-15T10:23:00.000+08:00

1. Drive less and earn a discount
If you drive less than 7,500 miles per year, you may qualify for a low-mileage discount on your auto insurance. And, some car insurance companies offer a commuter discount if you use public transportation during the week.

2. Don't use your car for business purposes
Some insurance companies will add a "business use surcharge" or increase your car insurance premium as your annual mileage increases. But, if you must use your car for business, be sure to tell your company or agent, so that your daily business travel is covered.

3. Increase your deductible
You might reduce your annual auto insurance premium by as much as 10 to 15% if you increase your deductible from $250 to $500. But, remember that you'll be required to pay the larger deductible upfront if you have an accident.

4. Keep an eye on your credit report
Your credit history is one of many "risk factors" that most auto insurance companies evaluate when setting rates (in states where it's permissible by law). Paying your bills on time and maintaining a solid credit history will help keep your auto and home insurance rates lower.

5. Drive safely
You may be eligible for a price break on your car insurance policy if you have no accidents or traffic violations for a specified period (usually three years – but a few companies will look back five years). Even a single speeding ticket can increase your auto insurance rates 5 to 10% depending on your state.

6. Buy a low-profile car
Cars are rated on a risk scale for auto insurance purposes. In general, sports cars and other high-performance, flashy vehicles are classified as higher risks because they are common targets for thieves and vandals, and because statistically, the people who own them tend to drive more recklessly.

7. Move
If you live in a rural community with little crime and traffic congestion, your insurance premium will generally be lower than if you live in an urban area where your car is more likely to be stolen, vandalized, or involved in an accident. We love city life – but sadly it costs more for car insurance.

8. Keep your car in a garage
Cars parked in garages are less likely to be stolen, vandalized, or struck by other vehicles. Using a garage to store your car may get you to a slight auto insurance premium reduction.

9. Install safety or anti-theft devices
Car insurance companies offer a variety of discounts for anti-lock brakes, automatic seat belts, and airbags. Similarly, anti-theft devices such as car alarms and tracking systems (e.g., LoJack®) may also get you an insurance discount because they reduce the chances of your car being stolen or vandalized.

10. Look for discounts
You may receive a discount from your auto insurance company if you buy more than one type of insurance through that same company (e.g., auto and homeowners). A discount may also apply to your auto insurance if you insure multiple cars under the same policy or with the same company. In addition, you can earn money-saving discounts for taking a defensive driving course, being a AAA member or staying with the same auto insurance company for a number of years. These discounts vary by company.

10+ Shop around
OK, it might go without saying, but your current car insurance company might not be the best one for you in the future! We recommend researching your options 30 to 45 days before your current policy is set to renew, especially if you have not shopped recently. (Fact: Insurance.com customers reported annual auto insurance savings of $538 a year in April 2009. Your savings may vary.)