Posted by admin on May 13th, 2008 — Posted in School of Insurance
Conventional insurance policies do not meet the specific demands
of owners of fine homes and possessions.
You never know how good your insurance policy is until you make
a claim. Most people have a basic package policy with low levels
of cover, complicated warranties and restrictions.
Underestimation of true value of property, and other
possessions, is common.
To quote just one example, the nation - each year - spends £32
billion on clothes, shoes, and accessories alone. If you keep
clothes for a period of years the total value in your wardrobe
could easily run into the tens of thousands.
Extravagant buyers or those with a large credit limit will
happily spend several hundred pounds or more on shoes, underwear
or accessories, not to mention suits, eveningwear, and
jewellery.
Once you have done a quick calculation you will soon realise
that you have a far greater value in your property than you
previously realised. This is the case with the majority of
Britons; most are unaware of the value of their property, until
it is too late.
A flood or fire will cause extensive damage to your property but
will also cause significant damage to your belongings. A burglar
would cause just as much damage, and do so on a more personal
level. The cost of replacing your house contents, including your
clothes would run into at the very least tens of thousands of
pounds.
High Value Insurance If you have a need for higher levels of
cover and an insurance policy that supports your lifestyle, not
restricts it, then read on.
A high value house policy provides a number of key benefits not
available on standard policies. Some of the key benefits
include:
1. Cover outside your home : Your possessions are covered
wherever they are, anywhere in the world as standard (e.g.
whilst on holiday, during a house move, or simply whilst on a
day out).
A standard policy can have restrictive cover with significant
limitations once items are taken out of the home.
2. Individual items over £1,000 : There is no need to list any
item or provide valuations unless items exceed £5000. All that
is needed is the overall contents sum insured and the overall
sum within that for valuables. Full cover given outside the home
On a standard policy you may need to list individual items
exceeding £1,000 in value and provide valuations when applying,
otherwise cover is limited. Extra premium can be charged.
3. Fine Art and Antiques : Covered under general contents with
no need to list individual items under £50,000 in value
On a standard policy you usually need to list items separately
with extra premium being charged.
4. Basis of claims settlement : New-for-old (meaning that any
item damaged beyond repair is replaced as new).
A standard policy will provide new-for-old but often with a
deduction for wear and tear on items like clothing and bicycles.
5. Moving House : Fully covered during professional move.
A standard policy can usually exclude or restrict cover.
6. Stalking ; Unique cover should you become a victim
7. Identity Fraud; There has been much publicity recently over
theft of personal identity. It is possible to insure but it is
also advisable to take simple precautions - shred all paper
waste for example.
Also included in most high net worth insurance policies are
warranty free home cover, agreed values on your motor cars with
choice of your own repairer and no hidden excesses, plus
worldwide all-risks cover on your valuables, cover for your
holiday home and no under-insurance penalties.
For more information and articles please go to:
http://top5websites.com/news/.
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Posted by admin on May 6th, 2008 — Posted in School of Insurance
Affordable
Health Insurance, an overview
Affordable Health
Insurance offers you a wide variety of medical insurance
policies to protect you and your family against the high costs
of health care. Affordable
individual health insurance is likely for all of us who are
in need of it. We just have to do a little homework to
understand what is available, and ask ourselves what we need and
what we can afford.
Affordable health
insurance can be of different types. It can be like
affordable individual health insurance, affordable family health
insurance, affordable child health insurance, affordable
employee health insurance known as group health insurance,
affordable business health insurance etc.
The web is amazing in all of its diverse sources of information,
and with all the possible that are out there in the insurance
world, it is very likely that by using there in the insurance
world, it is very likely that by using the internet as a
resource, you can find affordable health insurance
policies. You can also discuss your possibilities with an
insurance broker, or you can call the customer service
departments of the major health care providers. There are many
ways to obtain the information you need in order to find the
right policy for you.
Affordable individual health
insurance is likely for all of us who are in need of it. We
must have to do a little homework to understand what is
available, and ask ourselves what we need and what we can
afford. After we have done the research, we can begin to fill
out the applications and be on our way to have the health care
coverage we need.
Click here for : Affordable Health
Insurance Quote
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Posted by admin on April 8th, 2008 — Posted in School of Insurance
The average man in the street assumes that Life Insurance and Life Assurance are names for the same form of insurance. How wrong they are! But don’t hang your head in shame, many financial commentators get it wrong too! Life Insurance and Life Assurance perform different financial roles and are poles apart in cost - so it helps to surf for the correct product.
Life Insurance provides you with insurance cover for a specific period of time (known as the policy’s “term”). Then, if you were to die whilst the policy is in force, the insurance company pays out a tax-free sum. If you survive to the end of the term, the policy is finished and has no residual value whatsoever. It only has a value if there is a claim - in that context it’s just like your car insurance!
Life Assurance is different. It is a hybrid mix of investment and insurance. A Life Assurance policy pays out a sum equal to the higher of either a guaranteed minimum underwritten by the policy’s insurance provisions or its investment valuation. The value of the investment element is then a reliant on the Insurance Company’s investment performance and length of time you have been paying the premiums.
Each year the insurance company adds an annual bonus to the guaranteed value of your life assurance policy and there is normally an extra “terminal bonus” at the end. Therefore, as the years go by your life assurance policy increases in value as the investment bonuses accumulate. The value of these bonuses are then determined by the insurance company’s investment performance. Once investment value has been assigned to the policy, you can cash it in with the insurance company. However, most people get a far better price for their life assurance policy by selling it to a specialist investment broker rather than cashing it in with the insurance company.
If you were to die during a Life Assurance policy’s term, the policy pays out the higher of either the guaranteed minimum sum or the accumulated value of the annual investment bonuses. However, if you are still living when the policy terminates, you usually get a bigger payout. This is because with most insurance companies, an additional terminal bonus is awarded.
There is a also a specialised form of life assurance called “Whole of Life”. These policies remain in force for as long as you live and as such, have no preset term.
There is also a practical difference for the internet user. Whereas you can buy life insurance online, the Financial Services Authority view life assurance as fundamentally an investment product. As such they believe it is best suited to being sold by a Financial Adviser with advice based on the Advisors full understanding of your personal details. Therefore, you will be unable to buy life assurance online. However, you can use the internet to find a suitable financial adviser with whom you can meet and discuss your requirements.
What are Life Insurance polices and Life Assurance policies used for?
Life Insurance is usually a focal point of the family’s financial protection. It is ideally suited to ensure that known debts such as a mortgage, are repaid in full in the event of the policyholders death.
When it comes to providing a lump sum for general use in the event that the policyholder were to die whilst the policy was in force, either life insurance or life assurance can be used. The differences are that with life insurance the size of payout would be preset whereas with life assurance it would depend on the guaranteed minimum and the insurance company’s investment performance. But remember, at the end of the policy’s term life insurance is worthless, whereas life assurance should payout a sizeable investment sum. In this context Life Assurance seems far more worthwhile but in practice more people elect for life insurance. Why? It’s a matter of cost. Life Insurance is considerably cheaper than Life Assurance. Furthermore, in recent years, investment returns on Life Assurance policies have fallen significantly and many insurance companies have placed penalties for cashing in policies early. This has adversely affected the resale value of Life Assurance policies.
Finally, if you want a product to provide a lump sum on your death whenever that is with a minimum payout guaranteed, you’ll probably elect for Whole of Life insurance. It’s really a form of lifetime investment with the benefit of a guaranteed minimum. They’re particularly useful for Inheritance Tax Planning.
Michael Challiner has 15 years experience in financial services marketing at senior level. Michael now works as the editor of Brokers Online Life Insurance
Futher reading Life Insurance Topics
Futher reading Specialist Life Insurance Site
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Posted by admin on March 21st, 2008 — Posted in School of Insurance
The homeowner insurance policy is divided into sections. Each section has benefits and features. The home policy is divided into two main parts. When you see the declarations page on a home policy then you will see its structure very clearly.
Section I - provides property coverage for the dwelling, other structures, personal property and additional living expense.
A.The Dwelling - provides coverage to the dwelling and the structures attached to the dwelling.
B.Other Structures - Provides coverage for other structures other than the dwelling that set a part from the dwelling.
C.Personal Property - provides personal property coverage for the insured anywhere in the world.
D.Additional Living Expense - provides additional living expenses to the insured if their dwelling becomes uninhabitable.
Section II - provides liability insurance and medical payments to third parties.
A.Personal Liability- provides coverage in the event a claim or law suit is brought against the insured for damages because of bodily injury or property damage.
B.Medical Payments - provides medical payments to others in the event the individual is injured and requires medical treatment.
There are many more additional benefits and endorsements to these two sections. The home policy will list the perils that are covered under the policy. The homeowner policy has a wide range of protection. Homeowner insurance policies are sold on either a replacement cost or actual cash value basis. The replacement cost homeowner policy is more appropriate for newer homes built within the last 40 years. The actual cash value policy is better for older homes that have depreciated in market value.
There are discounts available for things like smoke detectors, dead bolt locks, and fire extinguishers. Burglar alarms and fire alarms that transmit to the police station and fire departments will qualify for even larger discounts. There are retirement discounts for the senior citizen as well as multi-policy discounts when you purchase auto and home insurance from the same company.
Affordable Health Insurance Quote
Car Insurance Quotes Online
Home Insurance Online
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