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Are you looking for the best life insurance possible? The following guidelines will help you understand what separates a good deal from bad. This article is primarily focused towards those who are young and healthy
Pay close attention to your current health status, even if you’re feeling fine right now. Many things can change at any given time in your life; for example, some people suffer severe depression within their early 20’s or 30’s which can lead to suicide later in life (even if this is not the case right now). If you have a history of depression or suicidal thoughts in your family, it’s best to be safe and assume that you too are likely to suffer from this.
Even if you are healthy today, avoid purchasing life insurance policies over 20 years in length. Not only do these typically have higher premiums overall but also specific rules may apply which would increase the cost even further (such as being completely ineligible for any benefits within the first 5 years). Furthermore, many Americans who purchase permanent life insurance end up canceling their policy before they reach the age of 100; by this point they will have paid more than double what they originally received (in terms of fixed value) while at least having some short-term coverage for themselves and their family.
Do not purchase life insurance as a way of funding your retirement . It is extremely unlikely that you will be alive 50 years from now, especially if you are under the age of 30 at the time of this article’s publication. If you want to save your money without having it sitting in an uninsured account for decades on end, consider investing it instead! A good mutual fund can provide a safer return than any bank or insurance company will ever be able to match (over time), with far less risk! Of course, there are exceptions to this rule; perhaps your spouse just lost their job and would struggle financially without access to your funds during this difficult period.
Why your business needs insurance?
So you have a business, and it’s doing well. You have lots of customers who are buying your products or using your services on a regular basis. But there is something very important they don’t know about their relationship with your company…they aren’t insured!
Everyone knows accidents can happen, but most people think that if their business has no employees then they are automatically covered by the Law of Torts. This isn’t true at all, which means that if someone gets injured on the property they are unlikely to be compensated for their injuries. The good news is you can protect yourself from this exposure by purchasing one type of insurance policy – Commercial General Liability Insurance (CGL). Here are three reasons why commercial general liability insurance is essential for your business.
1. Protection against lawsuits
As mentioned above, the Law of Torts doesn’t cover you if is an “insurance” policy, meaning that it only covers injuries where they are a result of negligence by the insured person(s) . This means that is someone gets injured on your property they will most likely sue you for their medical bills and suffering. General liability insurance with its “occurrence” policy will cover your legal expenses as well as any damages awarded to the client in court
2. Protecting your assets
Not being covered by general liability insurance also puts your personal assets at risk–home, vehicles, bank accounts–everything! Let’s say that someone slips and falls on your property and breaks their leg. You are not covered and unfortunately they don’t have a lot of savings to pay for their expensive medical bills. They sue you and win the case, awarding damages for future income loss as well as pain and suffering. Without insurance coverage you will also be responsible for paying the court costs which can run up to $10,000 or more .
3. Protection against employees
The final reason why every business owner should consider commercial general liability policy is that it usually protects your business from lawsuits filed by your employees! It doesn’t matter if you have one employee or 10,000, this type of insurance covers them too! This is an extremely important reason why every employer needs a Commercial General Liability Insurance policy
3 easy ways to save money on your home insurance
When you’re shopping for insurance, it’s important to understand that certain factors can affect the cost of your policy. Homeowners who take time to compare and shop around could save up to 25 percent on their premiums, according to industry experts.
Here are 3 strategies homeowners can use to lower their premium:
1) Raise Your Deductible
This is one of the most effective ways to reduce your home insurance costs every year. By raising the amount you pay out-of-pocket, both in terms of a single claim or over the life of the policy, you will see a corresponding reduction in what you have to pay for coverage. Pick an amount you feel comfortable paying before disaster strikes if possible–$ or $1000 are good general guidelines.
2) Bundle Your Policies
Combining your homeowner’s insurance with other policies, such as car or life insurance, is another cost-saving tactic. “Many carriers offer discounts for consumers who bundle their policies,” says Wayne Lucas of San Diego Insurance . “You could potentially get up to a 15 percent discount.” Plus, chances are you’re already purchasing some of these items from the same provider.
3) Shop Around With Other Providers
Finally, don’t assume that you are getting the best rate possible. Make sure to compare rates thoroughly every 3-5 years — but be wary of any agent trying to pressure you into signing on the dotted line right away. If you don’t have time to comparison shop in detail, always consider getting quotes from several agents before making a decision.
What to consider when choosing an insurance company
Choosing an insurance company can be a daunting task. There are hundreds of companies to choose from, and not all companies offer the same products or services. Therefore, comparing insurance companies is an important part of the buying process.
Below are some things to consider when choosing an insurance company:
• How long has the company been in business?
• How much experience does the company have?
• What types of business-related risks do your employees encounter on a daily basis? And how will those risks be covered by your insurance policy? An insurance agent or broker can assist you with this type of information.
• Who would handle a claim if there was a problem? A smaller company may not have as many resources as larger organizations.
• Make sure that any pre-existing conditions are disclosed up front and that they will not impact coverage or premiums
How to find the right insurance plan for you
It’s very easy for consumers to find the right insurance plan. It takes a little effort, but not much. Consumers do have to keep in mind that different insurers offer different levels of coverage and service. So, if a policy comes with a lower premium fee, it may mean they’re going to be offered less protection than an insurer who charges more.
Now, let’s pretend Sam is a consumer who wants to buy car insurance. The first thing he needs to do is check out his state’s minimum automobile coverage laws. In this case, it’s going to be required for Sam to carry at least the following: Bodily injury liability of $25,000 per person and $50,000 total Injury responsibility of $50,000 Property damage liability of $20,000 Uninsured/underinsured motorist coverage with limits equal to bodily injury coverage
With these in mind, Sam needs to find an insurer that will provide him with the most protection for his money. He also wants one that fits his budget when it comes to premiums. There are many factors when it come to finding the right insurer, including level of competition, customer service and financial stability.
To begin his search for the right insurance plan, Sam goes to his state’s department of insurance website or he can call his state’s consumer help line. There are usually forms on these sites for him to submit information about what type of coverage he needs and how much liability he wants. Sam will also have to provide personal information for an agent to contact him with a quote. Insurance is important because it provides you with protection against unexpected, financially crippling events that may arise in your life.