Health Insurance For Parents and the Right Way of Choosing Right Insurance Company

By Robart Alex

Expecting parents to visit you in United States? Don't forget to call in an insurance company to check for available health insurance options for your parents.

In today's world, it is not easy to cope with ever-mounting healthcare cost and that's it the reason why an intelligent person always opt plan well ahead of time. In a scenario where your parents are visiting US, you can always opt for health insurance for parents.

What visiting parent health insurance can do for you?

There are several benefits associated with health insurance for parents. This insurance policy is not limited to parents but anyone visiting America can get benefited from it. Some of the benefits associated with this type of insurance are;

• Benefits pertaining to hospitalization
• Intensive care
• Surgery
• Ambulance services
• Help pertaining to the prescription drugs

These are few of the benefits associated with this type of insurance but you can enjoy more by opting for the right insurance company.

Choosing the right health insurance for parents:

In US, the insurance industry is one of the fastest growing industries. What it means is that you can find a good handful of options while looking for health insurance for parents. But, it is not hard to get baffled by the number of companies because of which you may not become able to make a right decision. Here are few of the points that should be kept in mind while opting for a company offering visitors insurance or health insurance for parents.

• One of the most important things to keep in mind is about choosing the company offering direct cash-less settlement. What it means is that you can always make your hospital to directly get in touch with insurance company for the settlement. It can really make the whole settlement process much simpler for you.

• While looking for health insurance for parents, you must make sure that the insurance company Customer Service & Claims Department is located within US.

• You must check if a company requires you or your parents to undergo medical exam.

• Finally, you must compare prices. Don't make haste in this regard as there are some exceptional insurance companies which can offer the most competitive rates. Searching is the key to success here.

The fact of the matter is that visitor insurance including the health insurance for parents is helpful only for those who buy plans for better insurance company. If you will not work with a professional company, you will never be able to get optimum benefits. So, take your time and choose the best option especially if you don't want to spend all your hard earned money on unexpected injuries experienced by your parents.

Health insurance for parents can keep you away from spending a lot of money in case your parents undergo an injury. The benefits associated with this insurance plan are manifold which can further be enhanced by visiting ivisitorinsurance.com/ where some other visitors insurance options are also available.

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Income Protection Insurance As an Alternative to Payment Protection Insurance

By Michael Challiner

Income protection pays out a proportion of your income (50 per cent is common) if you can't work because of illness, disability or accident. However, income protection won't cover you if you're made redundant. If you want redundancy cover you can sometimes bolt this on to income protection insurance for an extra cost, or you can take out a standalone policy.

Like all insurance policies, income protection plans take into account circumstances such as your age, gender, occupation, your health and whether you smoke or not. How much you pay in premiums depends on how much of a risk the insurance company sees you as.

Why is it better?

For many of us, income protection costs no more than PPI, but provides much better benefits. You can decide when the cover starts - after four weeks, three months, six months or even a year - so you can fit the cover around the cover you have from your employment.

So, for example, you can set your income protection plan to kick in after 28 weeks if that's when your employer stops paying sick pay. The longer the period before the cover starts paying out, the cheaper the premium.

Income Protection also continues paying until either you reach the end of the term (people often run the term through to their retirement age), or until you return to work. If you claim on the policy and then go back to work, your policy continues as before.

'Higher risk lives'

For some people, however, the cost of standard income protection may be too high. However there are policies called 'age related' policies which don't calculate your premium according to gender, occupation or whether you smoke. These may be more suitable for higher risk lives.

There are also 'budget' income protection policies which pay out for shorter period and consequently have lower premiums.

There's also the possibility that payment under an income protection policy might affect your state benefits - so you should always check this with your insurer or adviser.

Income protection can be expensive if you're in a risky or stressful job, if you have health problems or you smoke. In most cases, women tend to pay more than men.

Shop around

However, it's always worth getting a quotation for income protection first and then submitting an application to the most competitive providers. We suggest you take advice and get help shopping around the different companies.

You should always consult an independent financial adviser (who can search the whole market for you). Try to find one that specialises in income protection products.

Critical illness insurance

Many people are sold critical illness insurance, often in addition to PPI. But it's important to understand that critical illness insurance is not an alternative to PPI or income protection.

Critical illness insurance pays out a lump sum if you suffer from a serious illness like cancer or a heart attack. It can be useful additional cover because you can use it to pay off your mortgage or other large debts if the worst happens.

However, it won't provide you with a regular income while you're off work, and it won't cover you for accidents or conditions like back pain or stress.

So, although critical illness can be useful additional protection for those who can afford it, you shouldn't take it out at the expense of a general policy that gives you an income if you can't work as a result of any illness or disability.

Other alternatives to PPI

You can also consider mortgage payment protection to cover your mortgage payments, or a form of payment protection insurance that lets you choose the level of cover you need each month.

The Mortgage Helpers Online provides great deals on Mortgage Protection Insurance for its clients in the uk. Please visit our site for helpful information to aid you in making the right decision, first time. Brokers Online offers cutting edge articles and information about Mortgage Protection Insurance, life insurance and other great financial products.

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Income Protection Insurance - The Hard Facts

By Michael Challiner

How much money will I need?

The amount of cover you require, and when you receive payment, depends largely on what resources you already have. Maybe your contract of employment states that your employer will pay you for the first six months, in which case you need your cover to commence from month seven of your sickness.

If you are self employed with savings you can draw on for three months, you should start cover from the fourth month. You should take into account any state benefits you will receive, when calculating the cover you need.

The great advantage of Income Protection (IP) is that you can tailor it to suit your lifestyle. You make decisions on the amount of cover required and when it should start.

How much will it cost me?

Your personal circumstances and nature of employment will decide the amount of premium you pay.

Premiums vary enormously with the cost being assessed on your gender, general state of health, occupation, the level of cover required and whether you are a smoker. Women will be sad to learn that they generally have to pay more than men.

Consider this example. Non-smoking man.....administrative job......age 30........his premium is 17 pounds to 36 pounds a month, which pays out 1,000 pounds a month benefit after 6 months. In contrast, a decorator of a similar age would pay between 35 pounds and 112 pounds a month, depending on whom he chose as his provider.

Gender, occupation and whether you smoke are not taken into account with age related policies.

Your job may affect the amount you pay

The amount you pay for a policy may be influenced by the type of job you have. An exception to this rule is an age related scheme. The majority of insurers divide job types into 4 categories of risk.

We requested providers of income protection insurance to tell us the way in which they grouped jobs, and to provide us with examples of typical jobs in each group.

Some examples follow, but there is a word of warning, as the same job may be categorised differently one insurer to another.

• Class 1 Managers, administrative staff and professionals. Limited business mileage. Secretary, computer programmer, administration clerk

• Class 2 Some workers having a high business mileage exceeding 20,000 miles a year. Engineer, shop assistant, florist. Light skilled manual work.

• Class 3 Some semi-skilled and skilled manual workers. Plumber, teacher, care worker

• Class 4 Some unskilled workers and heavy manual workers. Mechanic, bar person, construction worker

Unpaid workers

Just because you have no income does not mean that cover is not needed. For example, a carer, looking after an elderly relative, may develop a long term illness and be unable to carry out their caring duties. Would the rest of the family be able to stand in, or would they need insurance cover to pay for an expensive carer from outside the family? However, a word of warning, some policies do not provide cover for carers.

Mortgage Homehelp offers great deals on Mortgage Insurance, Life Cover and other financial products. Visit our site for more info. Our sister site Brokers Online offers cutting edge articles and information about Mortgage Insurance and other great financial products.

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The 9 Types of Insurance Companies

By Carson Koziol

Insurance is generally a topic people don't like to think about until they need it. Who can blame them, right?

People also don't know that the law has 9 different categories of companies. These categories are not derived from the product(s) the company sells. So when you say life insurance company or health insurance company, you are merely stating the type of product the company sells. You are not talking about its legal structure.

The 9 types of insurance companies are:

1. Domestic - This type of insurance company is incorporated and formed under the laws of the state in which it is domiciled. For example, a company incorporated in California is domestic to California and is foreign to the other states.

2. Foreign - This type of insurance company is also domestic company as it is domiciled in one state but it is licensed to do business in another state. For example, a California domiciled company doing business in Nevada is foreign to Nevada but can do business in Nevada because it met the licensure requirements.

3. Alien - This type of insurance company is often confused with a Foreign insurance company. The Alien company is the one that is formed under the laws of a country other than the United States. For example, a company organized under the laws of Canada and doing business in the United States would be an Alien company in this country. However, if it is properly licensed, it can do business in the United States.

4. Authorized (Admitted) and Unauthorized (Unadmitted) - Upon applying for approval to do business in a state, the insurance company receives a certification of authority from the state Insurance Department (Division). Once they receive this certificate they become known as an admitted, or authorized, company. Companies without a certificate of authority are known as unadmitted, or unauthorized, companies. A note of caution before buying insurance. You should always learn if the company is admitted/authorized. Otherwise, they may not honor your claim.

5. Stock Company - As the name implies, a stock company is an insurance company that is owned by the shareholders. These holders own the capital stock of the company and most are publicly traded on an organized exchange.

6. Mutual Company - This type of company is owned by the people and/or businesses the company insures.

7. Reciprocal (Assessment) Company - Nonincorporated associations of individuals or business, called subscribers, engage in cooperative insurance programs. Each policyholder is insured by all others, and each insures the others. Coverage is exchanged on a reciprocal basis.

8. Fraternal Benefit Society - This type of social organization has bylaws allowing it to sell insurance to its members. The society has no capital stock, is not for profit, and is organized for the benefit of the members.

9. Lloyd's Insurer - Lloyd's is a very well known name and most people think of it as an insurance company. The truth is, it isn't. It is a number of people organized into syndicates or groups for the purpose of underwriting risks. Lloyd's operate on many of the same principles as a stock exchange in that it matches buyers wishing to secure insurance with sellers who wish to underwrite risks.

By the way, each insurance company sets its own rates and must first get them approved by the Insurance Commissioner in the state in which they wish to sell. This is why you can get a wide disparity in premium quotes for the same coverage. It pays to shop for the best possible price BEFORE you purchase any type of insurance.

Carson E. Koziol http://www.moneyferret.com I am a licensed insurance agency owner in Nevada

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Why Is Your Car Insurance So Expensive?

By Ross Tanner

Although these days it's pretty easy to arrange your car insurance online, comparing quotes at the click of a button and paying by credit card for instant cover, one ever present difficulty still remains: the high cost of insurance policies. The fact that having car insurance in place is both a legal requirement and a sensible idea doesn't detract from the annoyance of having to pay what seems to be an exorbitant sum, and most of us would jump at the chance of reducing the bill.

Car insurance is an unavoidable expense, and seems to get ever more costly. By examining what insurers are looking for in a customer, you should be able to cut your premiums. To do this we need to know what factors insurance companies use when deciding how much our premiums will be. You car insurance costs could vary wildly depending upon the car you buy -- even if it's an inexpensive car.

About the Author:

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Perhaps the most important influence on the level of your premium is your own history as a driver. If you've a history of having accidents, then naturally you're a higher risk to the insurer and so they'll charge you more. Worse, if you've been convicted of a motoring offence such as speeding or driving while under the influence, then your insurance will cost you even more - especially if your licence was withdrawn.

The next most important factor is what kind of car you're trying to insure. Naturally, more expensive cars will cost more to replace, and so the insurance will cost you more too. This isn't the whole story though, as other features such as engine size, the availability of cheap spares, and the difficulty of repair will have an influence too. Finally, some models of car are well known for being easier to break into or steal than others - the insurance companies are well aware of this and will adjust their quotes accordingly.

How you use your car will also affect the price you pay for cover. If you rarely drive and have a low annual mileage, then your premiums can be cut as you're on the road for less time, and therefore have less chance of needing to make a claim. City drivers may also have to pay more compared to those who drive in quieter areas.

Where you keep your car is important too - if you have a secure parking area, preferably one that keeps your vehicle out of sight and under cover, then your risk is lowered, as will be your premiums. Cars that are regularly parked at the roadside are at a higher risk of being stolen or involved in collisions, and so will be more expensive to insure.

One final point to cover is that of how attractive your car is to thieves, and not just in the obvious way of how desirable your vehicle is! An expensive car with a good security system including an alarm and window etching etcetera will be more of a hassle for criminals to profit from, and so is less likely to be stolen than a cheaper car with little or no security. Also, a car featuring plenty of gadgets such as an expensive audio system or satellite navigation will attract greater interest from potential thieves.

The good drivers who follow the laws and drive safe that have no claims have to pay for those who pose a risk for everyone on the road. Insurance companies have to pay out millions a year to policy holders for claims caused by weather and drivers that have no insurance yet were at fault. I can see paying when weather strikes , but if everyone had insurance many would have lower rates. I just believe if a person goes 2 to 5 years with out a claim they need to give half of the premiums back or give free coverage for half the amount of time they went with out a claim.

Because you HAVE to have it. Insurance companies know that the law requires you to ante up, so they know the law forces you to ante up to an INFLATED price. Don't believe the people who say "more coverage means more claims. The fact is that most people don't have accidents. That means more money for the insurance people.

If you think you're not getting a fair deal, call some other insurance companies. Many of them will give free quotes. One thing is certain, that as long as people are wrecking cars or stealing them, we're all going to have to pay for insurance.

The insurance company expects to pay out claims equal to the probability of an accident times the expected cost to repair the damage to people and property. It's a risky proposition, so they get a pretty high profit margin. You have to pay people a higher return in order to get them to put their money at risk.

You can go online to any auto insurance website and get a quote. If your car is not financed and you only need liability it will be less than if you have to cover your vehicle as well. Just remember that if you get into an accident you may end up without a car. If your car has much value you should get it covered anyway, even if it's paid off.

Premiums will also vary depending on your gender and age and your driving record. The highest risk group, so the highest premiums, are for males under the age of 25. Its always cheaper for a woman to insure a car, therefore insure the car to your Mum's policy, for example, go on an insurance company website type your mums details in then an option should come up as "additional drivers" this is where you fill in your details.

Your age is just one of the risk factors in setting your rate. The amount your overall policy drops depends on other things also, such as tickets and accidents, so it's hard to say with any certainty just what percentage of drop you will get. It depends on the company but yes, most insurance companies will rate you differently when you're 25 or over. As for the amount, it too depends on the company, but you can expect something like a 5% discount.

Insurance Leads - How to Choose the Best Company For Your Insurance Agency Leads

By W. G. Moore

They're hundreds of companies out there who will offer to sell you Insurance Leads, some have been in the business for many years, others are start ups, and still others are fly-by-night garbage lead pushers. So how do you tell if a company is reputable? How do you know the leads you get are going to be of high quality? Truthfully, unless you have lost money dealing with bad companies then you won't. Although there is a good chance to make lots of money with the right leads, there is also a very good chance to loose money as well. There are pros and cons to every method of lead generation, but knowledge of what to look for can save you time and money.

Let me give you an example of my dealings with lead sellers. A few years back I ran a successful Commercial Mortgage Brokerage, most of my business came through word of mouth and referrals. Like all businesses that rely on sales to generate income, the pipeline can run dry, so did mine. I tried various other lead generation strategies with marginal results, direct mail, post cards, etc. I researched several sales lead companies and found one that was very reputable in their field. So how do you determine if a company is reputable? You ask your competition. Whenever you deal with a lead generation company, whether its mortgage leads, life insurance leads, or consumer leads you will have to compete with other companies who will be buying the same leads. Look at what other Insurance companies are listed and call them up, if you can't find out that info then ask the lead company. If they really are reputable then they will have no problem providing you with references from happy customers.

In addition to the companies reputation, the second criteria should be the quality of the insurance leads provided by the company. Most companies have a limit to how many times they sell a lead, look for a company that will only sell a lead to 2 or 3 other insurance agents. The obvious reason for this is that you don't want a lead that 10 other agents have already purchased, the last thing you want is to spend money on a lead you have no chance of closing, not to mention the ear chewing your going to get when you're the 10th insurance broker to call the client that day. With fewer agents having bought the lead you have a better chance of closing the deal and selling your services to the client. A good insurance lead company may even offer exclusive targeted leads for a premium price. These leads are sold to only you and are targeted to your insurance product, for instance Auto insurance leads in Florida, or Life Annuity Leads in California.

In addition to the above criteria, lead transfer time is very important. Look for a company that offers live transfer or real time leads. These are leads that are batched and sold immediately upon the application being submitted. In some cases a phone operator is used to call the customer and that operator then transfers the "warm" client to the agent. This is the best insurance lead to get, the client is pre-qualified and verified before being connected to the qualified agent to close the deal. A typical company will list the methods used to gather their insurance company leads. Look for companies that generate search traffic thru targeted campaigns - whether Pay Per Click, Print media, or other forms of lead generation. It is also important to stay away from companies that use incentivized traffic, these are companies that use bribery to get visitors to fill out an application for an Insurance quote, these are customers who will not answer your phone call or even hang-up on you when you call. it is a good idea to also make sure the company provides replacement leads for bad or bogus leads. Even the best companies can get a few bad apples in the bunch.

Buying insurance leads should be a small part of every companies long term strategy for keeping their pipeline full of "warm" quality leads. Keeping the above listed criteria in mind will help limit your risk and ensure a great return on investment.

W.G. Moore is an Internet Marketer specializing in Insurance and Finance marketing. The authors website http://www.national-insurance-quotes.com provides a hassle free means of comparing insurance quotes from the nations top insurance companies. Visitors can obtain multiple insurance quotes for life, auto, health, renters, homeowners and condo insurance. Customers can also compare annuity investments for a complete financial plan. The website also provides direct linking to real-time insurance leads for qualified agents and brokers.

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Providing a Lifetime Retirement Income?

By Lew Nason

Over the holidays, my wife and I had a wonderful time visiting with family that we don't get to see very often. It was great talking to them and catching up on the news about them and their family. During one of the conversations, we briefly discussed their retirement income and they made the following comment - As long as we earn an average 8 to 9% return our money will last forever. It reminded me that many retired people are counting on their stockbroker to help them to outperform the stock market during their 20 or more years of retirement. And, maybe they will? But even, if they have a great broker who is able to outperform the stock market, they still run the real risk of running out of money.

Let me explain. Over the years, Ive had too many retired couples come to me asking for help because they are running out of money. For example: One of the couples retired in 1992 with a little over one million dollars. They had been taking $70,000 per year to live on and when I met them in 2003 they had less than $176,000. They were running out of money and didnt know what they were going to do? Their investment broker had assured them that they would average an 8 to 9% return on their retirement portfolio and they had. The problem is that although they had averaged the 8 to 9% return, they didnt get that return each and every year. They had years where they made less than 8 to 9%, and years where they lost money. And, each of those years they still withdrew the $70,000 of income they needed to maintain their current life style. When you take an income from your retirement portfolio in years with low returns or losses, you are very often forced to dig into your investment principal, and you are compounding your investment losses.

Plus, each year they were paying management fees to their broker, whether their retirement portfolio made money or not. Consider, if you average 8 to 9%, and you pay a 2% management fee, then isnt your net average return only 6 to 7% per year?

The final straw for them was when the stock market took the significant downturn in 2000 to 2003 and they lost over 40% of their remaining money. Because they had no way to recoup their losses and needed the income, they were forced into taking out a reverse mortgage on their home, significantly cutting back on their life style and looking to their children for help. This is much too common a story.

The Question Is: Will Your Clients Run Out Of Money?
Even after the market correction at the turn of the century, Ive still been recommending that retirees get out of the stock market with the money they use to generate an income. I believe that the stock market is still overpriced! Evaluating Price to Earning Ratios, Dividend Yields, Relative Strength and other factors indicates that stock prices still appear to be higher than normal.

Why Is The Market Overpriced?
There are many factors that contributed to the overvalued stock market of the 90s, such as new technology, an undervalued US dollar, declining interest rates, etc. However, one of the most dominant reasons is that in the 90s many Baby Boomers, to make up for lost time, funneled most, if not all of their retirement savings into the stock market over a very short time. This caused the stock market prices in the 90s to soar dramatically.

In 2000-2003 we saw a significant price correction. However, because the FED kept interest rates extremely low during and after that market correction, there appeared to be no better place for these people to invest their money to get a decent return. Consequently many Boomers, finding no better investment alternatives, left their money in the stock market, which prevented the stock market from making a full correction.

Even if you don't believe the stock market is currently overpriced, is there any question that in the next few years, we are going to have unprecedented numbers of people retiring. Whats going to happen when each year more and more of these people start liquidating their investments to provide an income? When more money is being taken out of the market than is being put in, will we see a sharp decline in the stock market prices or just lack luster returns? Who knows? But, to expect an average return of 8-9% during the next 10 years or so would seem to be very unlikely and be just wishful thinking!

Whats The Best Way To Make Your Clients Money Last?
There is no single investment or income generation strategy for retirees that will work in every situation! Every retirees situation is different. However, for most retirees, income laddering with portion of their money, using annuities, may provide more potential for a longer sustainable income, with less risk to investment principal and no fees. There is also the new breed of annuities that are tied to a Stock Market Index, such as the S&P 500. These equity indexed annuities can provide retirees with the upside potential of the stock market, without the catastrophic downside market risks.

There is much to consider when helping clients in their retirement years and many questions that need answers. One of the most important questions for you is: Whats more important, the amount of money your clients have invested, or the amount of income they get to spend?

Lew Nason
The Nine Out Of Ten Guy
Trainer, Coach and Mentor

2007 by Lew Nason, RFC, FMM, LUTC Graduate - All rights reserved
Lew Nason, with his sons Jeremy Nason and Will Nason are the founders of the Insurance Pro Shop and the creators of the Found Money Management Advanced Life Insurance Sales System The most endorsed and successful Life Insurance prospecting and sales system available for todays insurance professional! Lew has been helping agents and advisors to achieve long-term success in financial services industry for over two decades. His unique perspective, on how to truly help clients, has enabled scores of agents and advisors reach the top levels of their profession. Visit his web site at http://www.insuranceproshop.com or call him toll free @ 877-297-4608.

Claim your free Report "How to Attract & Sell Your Perfect Prospects" at http://www.FastInsuranceSales.com Where you'll learn how to make 6-figures a year in insurance.

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