Life Insurance Blog

There’s a great video clip from CNBC where life insurance is discussed as a new asset class. With today’s financial markets’ volatility, the stability, tax deferred interest, potential increasing insurance through dividends of a whole life insurance policy can be very attractive.
One of the moderators recalls ten years ago when commodities were …

[Source: The Life Insurance Blog]

Beginning this month, 130 million American households will begin receiving their economic stimulus payments. This is particularly good news for homeowners. In addition to the tax rebates of $600 for individuals and $1,200 for working couples, Americans with more expensive homes will now be able to refinance their homes at cheaper rates. While this economic plan will provide much needed relief for many borrowers, homeowners can experience long-term benefits by creating their own Home Insurance Stimulus Plan.

Home Insurance Stimulus Plan: 6 Easy Steps
You can create long-term savings by implementing your own Home Insurance Stimulus Plan. There are six easy steps you can take to lower your home insurance payments - (1) comparison shopping; (2) raising your deductible (3) taking advantage of available discounts; (4) adding an alarm or security device; (5) having your carrier recognize certain home improvements; and (6) eliminating unnecessary coverage can all help save you money in the long-term.

1. Comparison Shopping: The Best Way to Save on Home Insurance
The number one way to save money on your homeowners insurance is to shop around for coverage. Homeowners insurance rates are always fluctuating and vary from company to company. If you’ve just purchased or are about to purchase a new home, compare several quotes before choosing a home insurance provider. If you’re a long-time homeowner, review your current rates and compare them to rates offered by other carriers. Your current company could be overcharging you, and it only takes a few minutes to compare rates. Switching companies can potentially save you a significant amount of money.

2. Raise Your Homeowners Insurance Deductible: Save up to 25%
Another great way to save money on your home insurance is to increase your deductible. According to the Insurance Information Institute (III), if you raise your deductible from $500 to $1,000, you may save as much as 25% on your annual premium.

Remember, homeowners insurance is not intended for small fix-it claims. Therefore, the benefits of a lower deductible can be quickly dissolved by the higher rates you’ll experience after making such claims. As homeowners insurance is intended for major perils, consider higher deductibles and collect the savings resulting from a lower premium.

3. Multi-line Policy Insurance Discounts: Save up to 15%
Purchasing your homeowners insurance and your car insurance from the same insurance carrier could save you up to 15% on both premiums.

4. Additional Security and Safety: Save up to 20%
Have you added new security devices to your home in the last year; perhaps a deadbolt lock, window locks, or even an alarm system? Insurance companies highly value the protection afforded by fire sprinkler systems, burglar alarms, and fire alarms — especially those connected to monitoring agencies such as your local police and fire departments. Accordingly, some carriers will reduce your premium by as much as 20% if you install some of these home security devices.

5. Discounts for Home Improvements
A new home’s electrical, heating and plumbing systems, and overall structure for that matter, are likely to be in better condition than those of an older home. Accordingly, their insurance rates are generally lower as the risk for a potential claim is reduced. If you’ve made any home improvement in the past year, see if you’ll be rewarded with policy discounts.

6. Eliminate Coverage You Don’t Need: Analyze Your Homeowners Limits
Ideally, you want your policy to cover any major purchases or additions to your home, but you shouldn’t spend money for coverage you don’t need. You may have jewelry, appliances, electronics and other valuable possessions that depreciate over time. Therefore, it’s in your best financial interest to compare the limits of your homeowners policy to the actual value of your possessions at least once every year.

[Source: Insurance Blog, Home Insurance Blog, Life Insurance, InsWeb Insurance Blog]

If you are in your 40’s and 50’s, there is great news when it comes to competitive term life insurance rates. Let’s take a look at how your situation could affect your life insurance rates.

[Source: Life & Health Insurance Articles]

Beginning this month, 130 million American households will begin receiving their economic stimulus payments. This is particularly good news for homeowners. In addition to the tax rebates of $600 for individuals and $1,200 for working couples, Americans with more expensive homes will now be able to refinance their homes at cheaper rates. While this economic plan will provide much needed relief for many borrowers, homeowners can experience long-term benefits by creating their own Home Insurance Stimulus Plan.

Home Insurance Stimulus Plan: 6 Easy Steps
You can create long-term savings by implementing your own Home Insurance Stimulus Plan. There are six easy steps you can take to lower your home insurance payments - (1) comparison shopping; (2) raising your deductible (3) taking advantage of available discounts; (4) adding an alarm or security device; (5) having your carrier recognize certain home improvements; and (6) eliminating unnecessary coverage can all help save you money in the long-term.

1. Comparison Shopping: The Best Way to Save on Home Insurance
The number one way to save money on your homeowners insurance is to shop around for coverage. Homeowners insurance rates are always fluctuating and vary from company to company. If you’ve just purchased or are about to purchase a new home, compare several quotes before choosing a home insurance provider. If you’re a long-time homeowner, review your current rates and compare them to rates offered by other carriers. Your current company could be overcharging you, and it only takes a few minutes to compare rates. Switching companies can potentially save you a significant amount of money.

2. Raise Your Homeowners Insurance Deductible: Save up to 25%
Another great way to save money on your home insurance is to increase your deductible. According to the Insurance Information Institute (III), if you raise your deductible from $500 to $1,000, you may save as much as 25% on your annual premium.

Remember, homeowners insurance is not intended for small fix-it claims. Therefore, the benefits of a lower deductible can be quickly dissolved by the higher rates you’ll experience after making such claims. As homeowners insurance is intended for major perils, consider higher deductibles and collect the savings resulting from a lower premium.

3. Multi-line Policy Insurance Discounts: Save up to 15%
Purchasing your homeowners insurance and your car insurance from the same insurance carrier could save you up to 15% on both premiums.

4. Additional Security and Safety: Save up to 20%
Have you added new security devices to your home in the last year; perhaps a deadbolt lock, window locks, or even an alarm system? Insurance companies highly value the protection afforded by fire sprinkler systems, burglar alarms, and fire alarms — especially those connected to monitoring agencies such as your local police and fire departments. Accordingly, some carriers will reduce your premium by as much as 20% if you install some of these home security devices.

5. Discounts for Home Improvements
A new home’s electrical, heating and plumbing systems, and overall structure for that matter, are likely to be in better condition than those of an older home. Accordingly, their insurance rates are generally lower as the risk for a potential claim is reduced. If you’ve made any home improvement in the past year, see if you’ll be rewarded with policy discounts.

6. Eliminate Coverage You Don’t Need: Analyze Your Homeowners Limits
Ideally, you want your policy to cover any major purchases or additions to your home, but you shouldn’t spend money for coverage you don’t need. You may have jewelry, appliances, electronics and other valuable possessions that depreciate over time. Therefore, it’s in your best financial interest to compare the limits of your homeowners policy to the actual value of your possessions at least once every year.

[Source: Insurance Blog, Home Insurance Blog, Life Insurance, InsWeb Insurance Blog]

If you are in your 40’s and 50’s, there is great news when it comes to competitive term life insurance rates. Let’s take a look at how your situation could affect your life insurance rates.

[Source: Life & Health Insurance Articles]

Beginning this month, 130 million American households will begin receiving their economic stimulus payments. This is particularly good news for homeowners. In addition to the tax rebates of $600 for individuals and $1,200 for working couples, Americans with more expensive homes will now be able to refinance their homes at cheaper rates. While this economic plan will provide much needed relief for many borrowers, homeowners can experience long-term benefits by creating their own Home Insurance Stimulus Plan.

Home Insurance Stimulus Plan: 6 Easy Steps
You can create long-term savings by implementing your own Home Insurance Stimulus Plan. There are six easy steps you can take to lower your home insurance payments - (1) comparison shopping; (2) raising your deductible (3) taking advantage of available discounts; (4) adding an alarm or security device; (5) having your carrier recognize certain home improvements; and (6) eliminating unnecessary coverage can all help save you money in the long-term.

1. Comparison Shopping: The Best Way to Save on Home Insurance
The number one way to save money on your homeowners insurance is to shop around for coverage. Homeowners insurance rates are always fluctuating and vary from company to company. If you’ve just purchased or are about to purchase a new home, compare several quotes before choosing a home insurance provider. If you’re a long-time homeowner, review your current rates and compare them to rates offered by other carriers. Your current company could be overcharging you, and it only takes a few minutes to compare rates. Switching companies can potentially save you a significant amount of money.

2. Raise Your Homeowners Insurance Deductible: Save up to 25%
Another great way to save money on your home insurance is to increase your deductible. According to the Insurance Information Institute (III), if you raise your deductible from $500 to $1,000, you may save as much as 25% on your annual premium.

Remember, homeowners insurance is not intended for small fix-it claims. Therefore, the benefits of a lower deductible can be quickly dissolved by the higher rates you’ll experience after making such claims. As homeowners insurance is intended for major perils, consider higher deductibles and collect the savings resulting from a lower premium.

3. Multi-line Policy Insurance Discounts: Save up to 15%
Purchasing your homeowners insurance and your car insurance from the same insurance carrier could save you up to 15% on both premiums.

4. Additional Security and Safety: Save up to 20%
Have you added new security devices to your home in the last year; perhaps a deadbolt lock, window locks, or even an alarm system? Insurance companies highly value the protection afforded by fire sprinkler systems, burglar alarms, and fire alarms — especially those connected to monitoring agencies such as your local police and fire departments. Accordingly, some carriers will reduce your premium by as much as 20% if you install some of these home security devices.

5. Discounts for Home Improvements
A new home’s electrical, heating and plumbing systems, and overall structure for that matter, are likely to be in better condition than those of an older home. Accordingly, their insurance rates are generally lower as the risk for a potential claim is reduced. If you’ve made any home improvement in the past year, see if you’ll be rewarded with policy discounts.

6. Eliminate Coverage You Don’t Need: Analyze Your Homeowners Limits
Ideally, you want your policy to cover any major purchases or additions to your home, but you shouldn’t spend money for coverage you don’t need. You may have jewelry, appliances, electronics and other valuable possessions that depreciate over time. Therefore, it’s in your best financial interest to compare the limits of your homeowners policy to the actual value of your possessions at least once every year.

[Source: Insurance Blog, Home Insurance Blog, Life Insurance, InsWeb Insurance Blog]

The Premium income of the country’s term life insurance sector has doubled in five years between 2000 and 2004. With the private sector players gaining their strong foothold in the life insurance business, the private sector life-insurers maintained their dominance…

[Source: Term Life Insurance Blog]

Filed under: Home and Auto Insurance News, Life Insurance News

In this recessionary climate, consumers are rethinking their expenses and risk as health, mortgage and personal assets insurance issues loom large. New findings suggest that consumers are paying more than they should for insurance coverage.

In his new co-authored research paper entitled, “Why Do People Buy Too Much Insurance?,” NYU Stern Professor Zur Shapira, an expert in managerial risk taking and organizational decision-making, with co-author Professor Itzhak Venezia, finds that 19 to 25 percent of insurance customers overpay for insurance by purchasing policies with low or zero deductibles.

The study found:

• Consumers overestimate the benefits of full-coverage policies that cover every damage, even if it is very small or the chance of it occurring is highly improbable, which leads them to purchase unnecessary, expensive policies

• In most cases, consumers should purchase policies with deductibles, which would save them money while providing ample coverage

• Consumers are more prone than insurance professionals to underestimate policies with deductibles

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[Source: Accuquote Blog]

The Premium income of the country’s term life insurance sector has doubled in five years between 2000 and 2004. With the private sector players gaining their strong foothold in the life insurance business, the private sector life-insurers maintained their dominance…

[Source: Term Life Insurance Blog]

Beginning this month, 130 million American households will begin receiving their economic stimulus payments. This is particularly good news for homeowners. In addition to the tax rebates of $600 for individuals and $1,200 for working couples, Americans with more expensive homes will now be able to refinance their homes at cheaper rates. While this economic plan will provide much needed relief for many borrowers, homeowners can experience long-term benefits by creating their own Home Insurance Stimulus Plan.

Home Insurance Stimulus Plan: 6 Easy Steps
You can create long-term savings by implementing your own Home Insurance Stimulus Plan. There are six easy steps you can take to lower your home insurance payments - (1) comparison shopping; (2) raising your deductible (3) taking advantage of available discounts; (4) adding an alarm or security device; (5) having your carrier recognize certain home improvements; and (6) eliminating unnecessary coverage can all help save you money in the long-term.

1. Comparison Shopping: The Best Way to Save on Home Insurance
The number one way to save money on your homeowners insurance is to shop around for coverage. Homeowners insurance rates are always fluctuating and vary from company to company. If you’ve just purchased or are about to purchase a new home, compare several quotes before choosing a home insurance provider. If you’re a long-time homeowner, review your current rates and compare them to rates offered by other carriers. Your current company could be overcharging you, and it only takes a few minutes to compare rates. Switching companies can potentially save you a significant amount of money.

2. Raise Your Homeowners Insurance Deductible: Save up to 25%
Another great way to save money on your home insurance is to increase your deductible. According to the Insurance Information Institute (III), if you raise your deductible from $500 to $1,000, you may save as much as 25% on your annual premium.

Remember, homeowners insurance is not intended for small fix-it claims. Therefore, the benefits of a lower deductible can be quickly dissolved by the higher rates you’ll experience after making such claims. As homeowners insurance is intended for major perils, consider higher deductibles and collect the savings resulting from a lower premium.

3. Multi-line Policy Insurance Discounts: Save up to 15%
Purchasing your homeowners insurance and your car insurance from the same insurance carrier could save you up to 15% on both premiums.

4. Additional Security and Safety: Save up to 20%
Have you added new security devices to your home in the last year; perhaps a deadbolt lock, window locks, or even an alarm system? Insurance companies highly value the protection afforded by fire sprinkler systems, burglar alarms, and fire alarms — especially those connected to monitoring agencies such as your local police and fire departments. Accordingly, some carriers will reduce your premium by as much as 20% if you install some of these home security devices.

5. Discounts for Home Improvements
A new home’s electrical, heating and plumbing systems, and overall structure for that matter, are likely to be in better condition than those of an older home. Accordingly, their insurance rates are generally lower as the risk for a potential claim is reduced. If you’ve made any home improvement in the past year, see if you’ll be rewarded with policy discounts.

6. Eliminate Coverage You Don’t Need: Analyze Your Homeowners Limits
Ideally, you want your policy to cover any major purchases or additions to your home, but you shouldn’t spend money for coverage you don’t need. You may have jewelry, appliances, electronics and other valuable possessions that depreciate over time. Therefore, it’s in your best financial interest to compare the limits of your homeowners policy to the actual value of your possessions at least once every year.

[Source: Insurance Blog, Home Insurance Blog, Life Insurance, InsWeb Insurance Blog]