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Arkansas Insurance Adjuster – 3 Measures to Grow to be a Licensed Adjuster in Arkansas

17 Jan

Arkansas residents interested in becoming an independent claims adjuster working catastrophic claims across the country ought to strongly take into account 1st acquiring their resident Arkansas adjuster license. Non-residents interested in functioning claims in Arkansas may possibly be essential to obtain this license ahead of getting allowed an assignment. There is an exam necessary and a stipulation with regards to experience. Comply with these 3 steps to obtain and sustain your adjuster license in Arkansas.

Step 1) Observe the Needs

Folks applying for an Arkansas adjuster license should be 18 years of age or older. According to the Arkansas Department of Insurance, if you are a resident of Arkansas you need to have “at least one year of expertise in claims adjusting or must work under the direct supervision of an Arkansas licensed adjuster for 1 year after licensure to maintain the adjuster license.” Lastly, residents should pass an insurance adjuster exam administered by Promissor.

Stage 2) Acquire the License

To effectively grow to be a licensed Arkansas adjuster, you will require to fill out and submit the Adjuster Application Kind Aid-LI-ADJ and accompany it with a $60 licensing fee. Web page 5 of the application needs your consent to let the State Police to conduct a criminal record search and release any final results to the Arkansas Insurance Division. This, nonetheless, only applies to resident applicants. Arkansas grants reciprocal licensing privileges to non-resident adjusters holding a license in their residence state. Unfortunately, if your home state does not call for a license to be an adjuster, you need to then pass the Arkansas adjuster exam.

Stage 3) Keep the License

Licensed Arkansas adjusters ought to renew their license after yearly by submitting a renewal application and a $35 renewal fee. There are no Continuing Education needs mandated by Arkansas for the correct upkeep of the adjuster license.

Summary: Eventually, residents of Arkansas will want to obtain their resident Arkansas adjuster license – whether or not you intend to work claims there or not. Independent catastrophic adjusters who perform outdoors the state but have their main residence in Arkansas should strongly consider getting this license. Numerous states will not enable you to reciprocally get their license if you are not licensed in your resident state. This is not your prototypical danger state for disaster, but as it borders the tornado belt, and with frequent hail storms and flooding, non-resident applicant interest should remain stable. For additional licensing info, refer to the total requirements.

Encouraging Bible Verses and Bible Messages on Personal Finance

16 Jan

Encouraging as nicely as inspiring messages can be found in Bible verses but oftentimes we choose as an alternative to stick to worldly guidance.

We rationalize as to why a particular principle does not apply to us. In so performing, believers could unconsciously imply that we know greater than God.

Take, for example, our personal finances. The Bible tells us that God owns all the wealth in the globe. He instructs us to give 10 percent of our earnings back to Him. However a lot of occasions christians ignore this command to tithe. Or they rely on ungodly suggestions that discourages generous giving. Even so, no investment method can compare to God’s master economic strategy. If we tithe faithfully, the Father will generously provide for us.

God’s program differs from the world’s program. Secular wisdom encourages us to amass as much wealth as achievable. The causes for carrying out so are self-serving, such as satisfying our desires and attempting to make certain economic security. A pond with no inlet or outlet will create stagnant and slimy water. Funds can create a equivalent and unhealthy outcome. An person who doesn’t manage economic resources God’s way inevitably wastes them. A self-centered attitude concerning finances diminishes a person’s high quality of life and frequently causes friction inside families.

The Lord desires His followers to be generous givers. We shouldn’t view ourselves as reservoirs-stockpiling income for our self-serving desires. Instead, we need to have to be channels for great functions, willing to share with and be encouraging to other people. In God’s strategy, believers receive in order to give. You and I need to use our cash for fundamental requirements, but we ought to also contribute to our church, to missions around the planet and to these who are suffering financially. Generous individuals are happier, far more peaceful, content, and secure.

Luke 6:38 reads: “If you give, you will receive. Your gift will return to you in full measure, pressed down, shaken collectively to make room for far more, and operating more than. Whatever measure you use in giving-significant or small-it will be utilised to measure what is offered back to you.” The Bible message is clear. Decide on to view your bank account as a channel rather than a reservoir. Then watch the Father abundantly supply all you require.

What are the elements of God’s monetary plan for Christian living? Giving one particular-tenth of our earnings to the Lord is an integral component of biblical stewardship. Malachi 3:10 states, “Bring all the tithes into the storehouse so there will be enough food in my temple. If you do,” says the Lord Almighty, “I will open the windows of Heaven for you. I will pour out a blessing so great you won’t have adequate space to take it in!. Try it! Let me prove it to you!”

Never wait till all your bills have been paid prior to tithing. God’s folks ought to give the first and very best of what we possess. Proverbs 3:9 reads: “Honor the Lord with your wealth and with the very best portion of every thing your land produces.” This is 1 area in which the Lord encourages us to test Him. Those who tithe witness how God miraculously offers for their needs. When we trust God in this region, He gives all we need. Our faith increases as we grow closer to Him. The Lord teaches us about His trustworthiness when we tithe.

Here are four rewards you can anticipate to obtain as a outcome of tithing:

– Abundance. Prosperity, monetarily and otherwise, final results from giving one-tenth to the Lord. – Protection. With God as your monetary manager, He guards your provide. As you give back, the Father generously gives anything you need to have. – Provision. If funds is tight, never try to figure out if you can afford to give to the Lord. Your spending budget may possibly not work out on paper, but you will expertise His provision if you are obedient. – Personal testimony. Adhering to God’s master financial strategy will bring you contentment, joy, and peace. The modifications in your life will create a excellent opportunity for you to testify about the blessings given as a outcome of obeying biblical principles.

2 Corinthians 9:7 reads: “You must each and every make up your personal thoughts as to how significantly you need to give. Never give reluctantly or in response to pressure. For God loves the particular person who offers cheerfully.” Believers should give willingly. Never fall into the trap of accumulating cash, pondering that much more of it will purchase you happiness. Take a appear at the lives of wealthy celebrities, for example. A lot of of them do not encounter fulfilling relationships, genuine peace, or lasting joy.

Be cautious. You can’t violate the Lord’s guidelines with no experiencing the consequences. Malachi 3:8-9 reads: “Need to men and women cheat God? However you have cheated me! But you ask, ‘What do you imply? When did we ever cheat you?’ “You have cheated me of the tithes and offerings due to me. You are underneath a curse, for your entire nation has been cheating me.” A decision not to tithe means losing the four-fold blessings related with giving: abundance, protection, provision, and personal testimony.

Our Father’s instruction is for us to return one particular-tenth of what He offers us. When we reject tithing, we are maintaining what belongs to Him. The Lord promises to supply for our requirements. A refusal to tithe suggests a lack of trust in God’s promise to give all of our demands. When an individual elects to ignore this command, greed is often a motivating aspect. The Wonderful Counselor grants us the endurance, intelligence, and talent to earn and invest cash.

Tithing, as a biblical principle, tends to make no sense to the material world. A lot of financial advisors will argue that men and women cannot afford to give away 10 %. Tithing is a vague matter even inside the Christian neighborhood. Some believers will contend that this Old Testament principle is no longer valid. Don’t let their arguments sway you from giving to the Lord’s lead to.

Truthfully, there is no financial program far more sound than the one particular outlined in these encouraging and inspirational bible verses. I’ve completed my finest to outline these principles in my greatest-selling eBook. As we give cheerfully, generously, and systematically, the Father blesses us with abundance, provision, protection, and a powerful testimony. Test God. He will pour out unimaginable blessings on you.

Finally, How To Find The Best Life Insurance Leads

12 Jan

Locating a lead producing firm can be an exhaustive method not to mention high-priced. For Life Agents focusing on the final expense marketplace obtaining individuals to see every single week is the only way to be definitely effective.

With so numerous IMO’s out there supplying the “Greatest Lead” how does a single determine what truly a good lead firm is? To commence answering this query we very first want to look at the IMO (Insurance Marketing and advertising Organization). The key right here is the “Advertising” an IMO’s job is to give its agents the marketing they want to be profitable or the “leads” to make sales.

Leads come in a variety of forms from direct mail, telemarketed, preset appointments, and voicemail. Dependent on the IMO they will specialize in one particular form or one more and provide to their agents leads on a per lead price basis. Some IMO’s make the claim of providing leads to their agents free of charge. Beware of these claims… the old rule of thumb applies – if it sounds too good to be accurate is normally is.

“No cost” leads come with a expense most most likely in the form a really low contracts or extremely poor quality. As of February 2012 the law on voicemail leads changed generating these leads illegal in the US. What altered is that now in order to have a solicited voicemail the particular person becoming known as has to provide “written” permission. Prior to this year businesses generating these leads only need an opt-in choice to obtain permission.

Direct mail leads are on the highest in cost to the agent as you will want to run your weekly campaign for 3 weeks in a row just before you start see any real numbers of leads coming in. With the postage increase the common cost is $400 per 1000 piece mailer with a return on invest of about 1 to 1 % return. That is 10 to 15 leads if the message is excellent most IMO’s will tell you program on at least sending 2500 to 3000 pieces per week to produce 25 to 30 leads.

If you happen to be performing Direct mail on your personal that is not under an IMO then this price can be exceptionally expensive. Most IMO’s if you happen to be contracted below their carriers will offer you a charge-by-the-lead instead of the mailing campaign. The costs for these differ from $35 to $45 per lead with a minimal order of 25 leads per week. Prior to you lock your self into any contracts with an IMO’s carriers ask to see an instance of the lead that will be mailed to a client. If the lead does not clearly convey the message “this is about Life Insurance” never waste your time or income.

Preset appointments and telemarketed leads are the new sort of lead provided to life insurance agents. IMO’s and appointment setting firms are popping up all over the location with the very same old adage of “ours are the finest.” Preset appointments are obtaining a lot of attention these days since newer agents don’t want to make the calls and set their personal appointments they would rather just go and sell policies.

Excellent idea proper, but really disappointing if you have spent the income on these leads. The purpose why it really is disappointing is since the marketer creating the lead is paid by the lead – meaning – they will say just about anything to get the prospect to agree to see an agent. When the agent shows up, if the individual is really there, most will say “I wasn’t interested but the individual was so insistent that I said fine” or “they stated you would just drop off some information for me to read.” Meanwhile that lead just price you $50 to $75 – just and get a refund… most businesses will just give you a credit toward your next campaign.

Telemarketed leads are the identical for most each and every company. IMO’s will inform you that they make cash when an agent sells a policy and not on the leads. Wrong! They definitely make money on the leads that is why they contract 1000’s of agents providing small to no help in the area beyond some item information.

At the finish of the day when looking for the greatest lead creating company or IMO, ask:

To see the lead that will be presented to a prospect,
What contracts are made available with what carriers,
What sort of support is offered to agents,
How are the leads produced,
If you choose to move on to an additional business can I get a release from your carriers?

This last question is most important as most IMO’s will only supply leads to contracted agents through their carriers. Most IMO’s or Agency’s use the same final cost carriers and you will not be capable to move to another IMO or Agency with out a release or inactivity for about six months with a certain carrier.

Alternative Sources of Finance For Uganda TBL Mirror Fund

12 Jan


I am not an agent or connected to this entity. The info supplied beneath is independent as based on my study and encounter. While I have taken measures to make sure the accuracy of the information presented right here, there can be no guarantee that it will stay accurate.

Simple details

Fund’s target client: “Late commence-ups” or “early to mid stage” businesses.

Sector focus: Modest and Medium Sized Enterprises (SMEs) in different sectors with a concentrate on IT/telecommunications, Healthcare and Customer Goods.

Amounts supplied: EUR 250,000 to EUR 3m.

Funding sort: Venture capital (Implies, rather than delivering a loan, the fund takes a % of shares in the target firm)

Crucial criteria:

Potential to be a leading player in its field
Profitable in a sizeable/increasing market place over 5-7 years (exit period for fund)
Skilled and committed entrepreneurs backed by sturdy management
comply with ethical norms, have a great environmental policy and labor circumstances
Will allow board seat for the fund as effectively as their involvement in management.

Further information:

Search online for the fund details or contact Tel: +254 ()20 2019374

Who is behind the fund?

Personal investors and development finance institutions based mostly in Europe. The fund is managed by TBL Invest LTD, based in Nairobi and has a representative in Uganda.

What is the application method like?

1. Submit organization strategy.Make sure it meets their essential criteria

2. Introductory meeting(s). If the fund likes the strategy, the investor will meet the fund group

3. Term sheet. A Document spelling out the basic terms and circumstances and

4. Due diligence.This signifies the fund “verifies” the info presented in the strategy.

What are my view/guidelines for achievement in accessing the capital?

1. Team:Venture capital funds like TBL back “late begin-ups” with a track record. Their important indicator is a great group with solid experience. If you have no internal capacity, have a skilled join you.

2. Disruptive technique. They are seeking for a enterprise that can speedily turn into number 1 or 2 in their respective area. It implies possessing a strategy to directly take on current marketplace leaders. The plan demands to clearly show how this will be attained.

3. Ethical model. Some of the fund’s essential backers are based in the Netherlands and this is the norm. Your strategy ought to reflect these ideas.

While I provide the above suggestions, you ought to be conscious that some fundamental key details applies to all applications. This consists of aspects like the strategy like an executive summary, containing no errors, becoming in an easy to read format and the like.

Otherwise, greatest of luck.

Excess Liability Insurance – Synonymous With Savings and Peace

9 Jan

Individuals and professionals frequently go lengthy methods in safeguarding and fortifying their assets but usually miss out on backing themselves with comprehensive insurance coverage in the event of a disaster. Frequently occasions, insurance for diverse components are opted for which is the appropriate alternative at the epidermal layer. But these insurance policies cover a certain amount with respect to the a variety of elements of your assets and you may well have to pay a considerable amount of funds from your pocket in case of a lawsuit. This is where excess liability insurance comes into play and contributes that added quantity of coverage so you don’t have to bear all the further expenses all by yourselves.

The excess liability insurance is a must have in an individual’s arsenal of insurance policies to make confident heavy harm is prevented throughout unprecedented events. To policy holders, excess liability policies provide an additional layer of peace and protection throughout achievable monetary losses incurred due to the claims imposed by other folks injured because of the policy holder. If the policy holder has a liability insurance coverage, the standard liability coverage increases by excess liability insurance.

There are distinct types of excess liability insurance schemes supplied by insurance firms and these policies are custom built to suit folks and experts alike. They are also obtainable for significant firms. Customized excess liability insurance policies are available, meeting the specifications of individuals and companies so it assists curb the threat and loss elements in the event of an unforeseen predicament.

Policy holders advantage from the coverage made available by their policies from home harm as nicely as injuries. Further protection can be opted for, from this policy against claims which are induced by false eviction, false arrest and slander. Excess liability insurance usually depends on the policy holder’s standard policy, which means it provides coverage beyond an already existing underlying policy such as a property- owner’s policy or an automobile policy. The excess liability policy can include healthcare expenses and other claim payments that may possibly exceed the underlying policy’s amount. The coverage is usually supplied by an umbrella liability policy and these individual liability policies are offered by most casualty and house insurance firms.

No matter you are rich or poor, large or tiny you need to evaluate your possessed insurance policy covers against the possible liabilities. if you discovered that you may face a circumstance, when you run out of covers then you ought to go for umbrella insurance.

How to Locate Good Diamond Insurance

28 Dec

When contemplating how to find good diamond insurance for your valuable diamond jewelry, there are a couple of factors you need to know about diamond insurance policies, and what they cover and don’t cover. It is a specialized sort of insurance, and your insurance agent might not have all the info he or she wants to craft a appropriate policy for you, so it is up to you to come armed with all the particulars you happen to be concerned about.

There are fundamentally 3 types of diamond insurance accessible, and these are Actual Money Value, Replacement Value, and Agreed Worth. Actual Cash Value means that your diamond will be insured at today’s actual industry rate for the diamond, irrespective of what you paid for it. Replacement Value indicates that the insurance organization will pay up to a specific quantity to replace the diamond. They could really spend lees than the policy states, as they can frequently get a better replacement deal than you can. Agreed Worth is just that you and the insurance firm come to an agreement on the value of the diamond, and that is what they’ll pay in the event of a loss. This kind is uncommon, and if you can get it, jump on it! Most instances individuals are steered into Replacement Value, but that should not be your 1st selection if you have 1. Try for Agreed Value, then Actual Money Worth first.

Most diamond insurance polices are written as riders to your home owners or renters insurance. There is 1 a lot more key issue to keep in mind, especially as regards Replacement Value insurance. Don’t opt for the insurance organizations appraiser when assessing the worth of your diamonds. They work for them, and you must know that if they set the value of your diamonds at $15,000 and immediately after a loss they find they can replace the diamonds for $5000, that is what they will do. Why that is important is that all this time you will have been paying premiums based on $15,000, not $5000. Huge distinction. Constantly insist on an independent appraiser.

Locating very good diamond insurance isn’t all that tough, but like something else when it comes to any sort of insurance, you are going to want to be armed with the details so you won’t overpay, or find yourself underinsured.

How to Locate the Best Wellness Insurance for You

23 Dec

If you wish to overcome one particular of the toughest battles in securing and guarding yourself for life, it would depend on how you are able to find wellness insurance policies which come at pocket-friendly expense although suiting you appropriately. When you live in the United States, this becomes even a lot more important because there is no nationalized well being care method here to give you automatic fundamental remedy. You can have well being insurance by means of employment scheme or when you choose to buy one particular for yourself by way of brokers or agents.

How to Uncover Wellness Insurance in the US

To discover an insurance strategy at a correct deal you need to initially realize how your country’s health insurance system functions. State subsidized national health care program can be discovered in many countries where to buy insurance comes required only when you want to improve the level of care you are entitled to receive. This is not the identical in the United States nonetheless systems supplying economic assistance to individuals with the inability to spend for their personal can be identified. It may possibly be effortless to get such need from numerous sources though due to the fact the require for it has become fairly universal. It can’t be time-consuming to achieve study and lastly uncover what you need to have.

To locate insurance schemes may be best obtained through function. This of course might not be constantly achievable. This is only achievable by way of employers using such an supply to entice staff who might be of the highest possible normal of functionality to support their organization prosper. You see, usually, a very good worker is a single who puts his loved ones above everything else thus this provide is 1 which they locate suitable to give their family with what comes needed. Becoming unable to locate such an offer or when you are self employed even so would result in you to find an option remedy.

Find Inexpensive Well being Insurance

Individuals who uncover well being insurance rather not possible to have nevertheless cling to the hope getting supplied by the new government legislation. In 2010 the Patient Protection and Cost-effective Care Act became a law made to address numerous objectives altogether. Of these objectives, a single of the most essential is in the making certain of access to medical therapy for a number of folks specifically these who have been denied of such due to the fact they have no income. Nevertheless this will also imply cost and an additional goal in require of productive address is balancing the price range.

It can not be challenging to uncover an insurance if you have the income. Since it is a need for practically all, you will discover several of it getting sold to all sectors. Policies can be discovered in numerous different forms due to the fact several men and women are really selling it. There are those with but the fundamental cover which is for emergencies or severe illnesses only. Some are much more extensive in that it also covers for visits to hospitals or physicians. To find what is suitable for you demands but the use of the Web and generating comparison.

Health Insurance Plans Comparison

You can begin to evaluate delivers from big to modest providers if you want to uncover an insurance strategy of the right specifications. Realizing what you require could support you compare data much better and perhaps evaluate like with like. At times a better deal can be had by indicates of combining wellness insurance with yet another item the likes of a retirement program or an additional various insurance cover. The moment you find a potentially right deal you can then appear into independent critiques in order to ascertain the quality of it. This will make finding insurance plan on health more effective.

Gear Finance – Get The Ones That Won’t Disappoint You

17 Dec

No matter how badly our economic climate suffers, firms will often exist simply because there are men and women who will be supporting them because they have specific wants and needs which only companies can provide. This does not only apply to the organizations that have been about for a long time. Even new identified businesses can partake in the action. Every thing relies on an attractive equipment finance plan that can deliver a quantity of options that relies on their client’s recent financial situation, loan demand, credit score, and the like.

In contrast to the traditional lending firms that primarily favor the conventional standards, equipment financing is not difficult to safe. It is much more difficult to go for the top rated dogs of financing corporation simply because their major goal is to supply coverage for the much less prioritized places of loaning transactions to guarantee that you will be a worthwhile client for the services they supply.

Just like any lending institution that is willing to help you, they will nevertheless carry out a background check on your credentials and economic status to be particular that you will be able to meet their requirements on time. On the flip side of items, there is abundance when it comes to the possibilities obtainable these days because alongside the old timers in the sector, there are also new comers who make it their goal to provide top quality service to the public. Some of these choices are the contracting grants from the government, the possibility of delivering economic payments in the future, the establishment of partnerships between creditworthy clientele, and the like.

Right after you have put adequate thought into it and have come up with plans that will advantage your business, you will be provided with adequate funds to buy the equipment you require, hire skilled staff, get a appropriate location to conduct business, and many more. Hold in mind that you will not be able to very easily apply for a loan instantly if you never know how to present your plans in a desirable approach- the very same goes if you program on going to the government or a private organization to get funds.

Regardless of the fact that lending alternatives are becoming renowned rapidly collectively with their standard brethren, entrepreneurs who have a adequate know-how and are equipped with financial shields and consultants nevertheless have the option to go for micro loaning organizations, crowd funding, and other typical financing sources for their gear loan. You will have no difficulty in discovering funds for your equipment at this rate.

Health Insurance Over 50 And Beneath 65

12 Dec

If you are amongst the ages of 50 and 65 and you are going to be searching for health insurance or are looking for wellness insurance you need some aid. This is a challenging age (of program what age isn’t starting with the terrible twos) since you are at a prime age to begin producing well being difficulties. Statistically speaking and statistics is the only language insurance firms speak, the insurance business can predict they are going to commit far more on 50-65 year old than a 20-45 year old. For that cause premiums are a lot greater for the older particular person.

But, we Baby Boomers are a intelligent group and where there is a will, there is a way. So let’s look at some of the alternatives:

If you at present have a job and are looking to retire or commence your personal company, you have a couple of avenues you can investigate. 1st you can inquire if your organization will let you purchase health insurance through the organization program. If your firm will let you do this your employer (assuming we are speaking early retirement) may possibly subsidize component of your premiums. If not, you still get group rates which are a entire lot cheaper than person rates. If you are married and your spouse is nevertheless working strongly contemplate adding oneself to his/her plan if that choice is offered to you.

The subsequent choice (if you presently have a job which supplies well being insurance) is COBRA or Consolidated Omnibus Price range Reconciliation Act. COBRA lets former employees and their dependents continue their employer’s group coverage for up to 18 months. The greatest issue about COBRA is it is guaranteed. Your former employer’s insurer cannot turn you down even if you have a chronic healthcare condition. The worst thing about COBRA is the expense. Your employer normally covers 70% or far more of your well being insurance premium. With COBRA you have to spend the whole premium plus administrative costs. Business surveys indicate based on an average premium (for 2007), a former employee would have to spend more than $373 a month for individual coverage and a lot more than $1,008 a month for family coverage.

If you are not at the moment employed by a firm who supplies wellness insurance there are nevertheless options for you. If you have pre-existing circumstances such as diabetes or higher blood pressure you can acquire coverage by means of a state high-danger health program designed to assist these with healthcare situations that avoid them from acquiring insurance. Again even though like COBRA the premiums can be rather higher.

You can also verify out expert organizations you could join or are currently affiliated with to see if they provide health insurance policies for members. Due to the fact these are group plans, the premiums may be less than what you would spend in the person market place.

Lastly, there is the person wellness insurance alternative. There has been some progress in terms of offerings of policies for the 50-65 year age group industry mainly since insurers see this age group as a possible growth marketplace. Several Baby Boomers are in excellent wellness and have greater earnings than younger individuals. Also insurance businesses hope that retirees will still buy their merchandise, such as supplemental insurance, even immediately after they are eligible for Medicare. Some of policies at present made available may possibly have premiums as low as $200 per month for individuals who are in excellent well being and prepared to pay a high deductible. Numerous insurance suggestions columnists suggest combining a higher deductible person health insurance policy with a wellness cost savings account. HSA contributions are produced with pretax dollars, and any money left more than in the account at the end of the year is rolled over for future use. Withdrawals are not taxed if utilized for certified healthcare costs.

7 Essential Insurance Products: Do YOU Have Them?

12 Dec


Insurance policies – you either have it, or you don’t, right? WRONG. Researchers say that 8 out of 10 people surveyed claimed that everyone needs life insurance, but only a little over than 60 percent have purchased one policy or more. Surprisingly, around 30 percent policy holders confided that they think they need MORE insurance products.

But like everything else in life, too much of a good thing can be damaging. The best thing you should do is choose your insurance products wisely. I’ve compiled seven vital insurance products you should consider purchasing, so feel free to educate yourself by checking out the list below.

Essential insurance product #1: LIFE INSURANCE

What is it: Life insurance basically allows you to keep your loved ones away from the poorhouse in the event of your death. Although you won’t be enjoying the benefits yourself (except if fraud is involved and I certainly DO NOT recommend staging your own death!), your spouse, children or parents will have their needs taken care off after you cease to be of this earth.

Why I need it: Some people completely discount off buying life insurance just because they are single and have no next-of-kin. While this helps them save money, they should also consider taking up a good life insurance policy if they already own a thriving business. If you are a key person in an organization or business that you care about deeply, you may want to contact your friendly insurance broker and get life insurance quotes. The money gained after your death can be appointed to your Number 2, who can use it to keep the ship afloat.

Anything I should know of? Of all the major types of life insurance products, the Term Policy type is one of the most popular as it caters to needs of someone who wants a larger sum assurance without paying high premiums. However, Term Policy holders will not get back the amount upon maturity, so people who want to invest in insurance products may want to skip this one.

Essential insurance product #2: HEALTH INSURANCE

What is it: The health care industry is a billion dollar one, and not surprisingly this prompts an increased surge of health insurance buying trend. Health insurance covers a myriad of conditions and illnesses so that policy holders need not fork out hefty hospital bills each time they suffer from diseases or physical mishaps.

Why I need it: The rising cost of health care is enough to scare anyone into an early grave. If you don’t want to deplete your savings each time you check into a hospital (which may prove to be more expensive than a one-night room reservation at Dubai’s 7-star Burj al Arab), then you should consider getting health insurance soon as you are able to.

Anything I should know of? Go for the Critical Illness Policy if one or more family members have had history of serious illnesses. Two of my aunts and a cousin have been afflicted with hereditary diabetes, so I won’t hesitate to purchase the right policy to counter in case I receive an unfavourable diagnosis. If you and your family suffer from this disease, you can check out sites that educate on life insurance options available for diabetics.

Essential insurance product #3: ACCIDENTAL DISABILITY INSURANCE

What is it: This type of insurance covers accidental disability that will cause a person to lose his or her ability to continue working.

Do I need it? The answer to this is a resounding YES. Imagine buying up life insurance, knowing that you’re covered for life. All of a sudden, an unforeseen event causes you to lose your ability to work and be self-dependant. Your life insurance policy will not keep you and your family going when you recuperate from your illness or debilitating condition. Being temporarily disabled will definitely deplete your piggy bank quickly, so if you have no nest egg to fall back on, buying accidental disability insurance may just be the best choice you’ll ever make.

Essential insurance product #4: HOME INSURANCE

What is it: A home insurance policy gives home owners assurance that they will be

Do I need it? Your home is possibly your most expensive asset, so yes, you DO need home insurance to help insure your home and the amenities included in it. Should calamities such as fire, burglary or natural disaster strike, you can rely on your home insurance payout to keep your household going.

Essential insurance product #5: CAR INSURANCE

What is it: There’re no ifs and buts: car insurance is a mandatory purchase if you want to buy and drive your own car. Automobile insurance allows policy holders peace of mind in the event accident or vehicle damaged is experienced.

Do I need it? Yes, and not only because it’s mandatory. Not having a sound car insurance policy to fall back on may cause you a lot of money in case accidents or loss of life happens.

Essential insurance product #6: TRAVEL INSURANCE

What is it: Like its name implies, travel insurance keeps you covered whenever you’re travelling abroad, be it for business or pleasure.

Do I need it? Certainly! You never know if calamity will strike when you’re enjoying yourself during your annual holiday in the Bahamas, and with the possibly high foreign exchange rate, you won’t want to come back home poorer than when you left.

Essential insurance product #7: STUDENT INSURANCE

What is it: Student insurance provides coverage to students so that they may be well prepared for the unexpected during this crucial time.

Do I need it? Yes, if you’re a student, and more so if you study abroad. Student insurance covers doctor visits, hospitalization and other health care benefits, so you definitely need it if you want to be a productive student.