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Car insurance is one of those things that everyone hates paying, but knows they must have in order to drive. In most states, driving without car insurance is against the law. When you are caught doing so, you can even lose your license, which is tragic to most people. Therefore, if you want to drive, there is no way around having insurance. You do have the option of choosing what type of insurance you get however.

The best thing to do when you need car insurance is to shop around. Call around to ask for the best rates from each company. You can also do this periodically after getting insurance, so you will know you are still getting the best deals.

After finding the right company, you need the right plan. Read more…

Hopefully you will never be involved in an auto accident or need to file an insurance claim. Even the most careful and skilled drivers, however, can easily find themselves in the middle of a crash. Would you know what to do? Knowledge of what to do after the car accident can help make the insurance claims process easier and smoother so that you are back on the road faster.
If you are in an auto accident:

1. Try to stay calm, stop your vehicle and check for injuries. The life and health of you, your passengers and the other people involved in the accident is far more important than the vehicle itself.

2. If required, call the police and let them know of the accident, your location, how many people are involved, whether there are injuries and the types of injuries.

3. You may wish to take reasonable steps to protect yourself, and your vehicle, from further damage. Where possible and if legal, move the autos to the side of the road and turn on your hazards as soon as it is safe. If you have flares, you may wish to use them to warn oncoming traffic and to prevent additional crashes.

4. Taking lots of notes is a good practice, like:

? the date, time and location of the accident
? how the accident occurred ? sometimes a drawing is worth a thousand words and can help enhance what you?ve noted
? the type and location of damage to your car
? the type and location of damage to the other cars or property involved
? the names, addresses and contact information of all drivers and passengers involved in the accident
? driver?s license numbers and all the information on the licenses
? insurance identifications including the name of the insurance company and policy number
? the names, addresses and contact information of witnesses
? the names and badge numbers of police officers or other first response personnel

(Being able to take notes is important so keep a pen and pad in your glove compartment, just in Read more…

Every expert has a different opinion on the best way to buy life insurance. The debates range from what kind of insurance is best to what the true purpose of life insurance is.

It can be very confusing.

But there are several strategies that experts agree will get you the best deal on life insurance.

Always be honest

Honesty is the best policy. It may be tempting to lie about your health and medical history. Many people try this in an attempt to be approved.

It doesn?t work. Lack of disclosure will always come back to you. If you application and medical records don?t match, you will not get a good deal.

Don?t deny you smoking. If you have a family history of heart disease or diabetes, report it. You won?t receive the best rate, but you won?t be rejected either.

Time works in your favor

You can get the best rate on your insurance policies by scheduling your medical tests for first thing in the morning. Many insurance companies actually require this.

Your blood pressure is lower in the morning. Your cholesterol is better and you are less stressed. It is a good idea to avoid salts, sugars, alcohol, drugs, caffeine and exercise before the test.

Exercise can actually through your blood sugar and liver functions off. Go to bed early and get up, have the tests and then eat breakfast.

You can often get better deals toward the end of each financial quarter and at the end of the year. Insurance companies are working to fill there quotas then.

Falling rates can save you

Rates Read more…

Keeping an inexpensive term life insurance policy for too long can cost unprepared families lots of money in the long run.

While term insurance is a great way to protect your family from financial disaster, sitting on the same policy until it is too late to replace it with a permanent options can be a financial disaster.

Term life is temporary insurance. It pays a fixed death benefit if the policy holder passes away during a set period of time. For example, if you have a 20-year term policy and you die before the 20 years end, your beneficiaries will receive the face value of your policy.

Once the 20 years is up, the contract expires. The company keeps your premiums and you have to find new insurance, usually at a higher premium. Term insurance helps you to prepare for the unexpected.

Term insurance is the cheapest form of life insurance because it is temporary and not intended to pay out. Young families benefit from term insurance. In many cases, it is taken out to help support young children and a spouse in case the primary breadwinner passes away. That takes a large policy to accomplish.

Many young adults do not have substantial savings and investments yet. They have a lot of their money tied up in new mortgages and student loans. Term policies offer a cost-efficient solution.

But as families mature, the breadwinners grow older and the policies get closer to expiration. Situations change and families need to consider changing their term insurance into a more permanent option.

Many term insurance contracts have a clause that allows the policy holder to do just that.

You could think of it as leasing insurance with an option to buy. You can use the convertibility clause to convert without having to obtain a new insurance policy. For a price, families can transform their temporary insurance into permanent insurance without having to re-apply for coverage or have medical examinations.

Not all policies have conversion clauses. If you are buying term insurance, look for policies that include the clause. They are often more expensive, but well worth it.

For example, you have a 20-year term policy with a 10-year conversion clause. After nine years, you develop a major health problem. You are still within the 10-year conversion period, so you can convert the policy to a permanent policy. By doing so, you will not need a new physical exam and you will receive your coverage at a much lower rate than if your health problems were taken into account.

If the policy didn?t have the conversion clause, you would be facing an expiring policy and very expensive renewal premiums ? if you could renew at all. You should always convert before it is too late.

You should review your policy with your agent on a regular basis. This will help to prevent that your conversion expiration doesn?t sneak up on you. When Read more…

There are a lot of myths and misconceptions when it comes to life insurance.

You need to know the truth when it comes to what you are purchasing, don?t just assume based on rumors you?ve heard. Mistakes made when buying life insurance have long-lasting consequences. If your family isn?t provided for as they need to be, you won?t be here to fix it.

You need to choose the life insurance that is right for you. You can do so by avoiding these seven common myths:

Myth #1: You should buy seven times your annual earnings.

The rule of thumb that says you should have so many times your annual income isn?t necessarily true. The average American has a policy three times his or her annual income. Your dependents should be able to withdraw 5% each year from your insurance policy money without having to touch the principal. If you are making $60,000 annually and you purchase three times your annual income, you have an $180,000 policy. This means your heirs will only be able to withdraw $9,000 each year.

Most people have less coverage than they need. To calculate the amount you actually need, estimate how much your heirs will need to maintain their lifestyle without you. Include the costs of child care, education and emergencies. Add up all other sources of income and subtract it from the expenses. This will show how much of a policy you need to have.

Myth #2: Agents don?t give you the best deals, the internet does.

The internet is a great place to shop and research life insurance. But don?t assume that you?ve gotten the lowest price just because it?s the internet. Good agents will find a competitive rate that?s comparable to your online quotes.

Often, the premiums posted on internet sites are misleading. They are usually quoting you are rate that only those in the healthiest of conditions receive. They may give you an initial rate that will increase significantly in a year.

You can?t just compare rates. You need to also compare the policy that you are receiving. Shop around on the internet and with various agents for the best policy for you.

Myth #3: All policies are the same, you are just charged more

You have to read your policy. It is a contract between you and an insurance company. It tells you what is payable and what isn?t. All policies have different features. Make sure that you have received what you were told you were getting. Make sure that all names are correctly spelled and all numbers are right. Your written policy is what matters, not your phone conversations or your agent?s promises.

Myth #4: You should always name your estate beneficiary

If you do, the proceeds will go through probate. This means that your policy proceeds could be tied up for several months to over a year. Your heirs will not have access Read more…

Your life insurance needs naturally change over time. Children grow up and move on, financial situations change and families grow. If your lifestyle has changed, it?s probably time to ?refinance? your term life insurance policies. By periodically examining your life insurance needs, you can explore more cost-efficient options that will save you in the long run.

The cost of life insurance has dropped 60% in the last ten years. This is mostly due to the fact that we are living longer. Competition has also caused companies to offer better rates. By changing your policy, you could have a much lower rate than was set years ago.

Take the time to consider how your life has changed. If your children have grown up and gone out on their own, you may want less expensive coverage. If you?ve changed your lifestyle, such as losing weight or quitting smoking, you could be eligible for cheaper premiums due to a raise in your health status.

You may be happy with your policy, but if you?ve had it for a while, it could be worth it to simply look into your options. There are more features offered, longer premium guarantees and better conversion options available today than there were five years ago. You can buy a cheaper policy with more features.

You have nothing to lose from simply looking into your coverage. Start with calling your current life insurance agent and ask him or her what they can do to fit your existing coverage to your needs.

Many insurance web sites will give you a basic idea of the variety of coverages available. Remember that quotes are usually based on the healthiest level of being, which you may not qualify for. Always assume that you are receiving a low figure. Make sure that you double check with an insurance agent before committing to the coverage off of the internet sight. Read more…

If you drive a car, you need to understand auto insurance. Believe me; it?s much better to learn now than it is after an accident. Here are 19 ways to get the most coverage for the least money:

1. Spend your money wisely

Put your money towards the things that could wipe you out financially.

Most people will spend a lot of money to get a $500 deductible and ignore the fact that a $500,000 lawsuit could bury them forever. You should raise your deductible and increase your liability coverage. The premium change will balance itself out to about the same amount you are paying now. Raising your total liability coverage from the standard $300,000 to $500,000 will only cost you about $60 more per year on two cars.

Look at the trade-off: what you are saving in premiums vs. how much risk you can accept. You can save on your premiums by shaving off your personal injury protection. This is often called the medical payments coverage. If you already have health insurance, it will pay your medical bills after an accident. You are basically paying for the same coverage twice.

2. Look at your liability coverage per person

Have your agent write your policy so that the total amount paid per accident and per person are the same amount.

If you have $300,000 in total liability, often only $100,000 is payable for each person injured. If you are sued by an individual for $200,000 ? you are responsible for half. Your $300,000 worth of coverage should reflect $300,000 worth of coverage.

3. Buy an umbrella policy

If you have a considerable amount of assets, or plan to, consider taking out an umbrella policy that covers both your home and autos for liability. These policies usually start at $200 to $300 annually for up to $1 million of coverage.

4. Good advice is worth looking for

Make sure that you get your advice from neutral, credited professionals. When shopping for an agent, look for experience. You don?t want to necessarily go with an agent that has only had one weeks worth of training! Look at their education and industry credentials. Look for those who are members of the CPCU, CIC and AAI.

5. Good credit ratings count

Your credit rating is used to determine your insurability and your premiums. Good credit equals affordable insurance.

6. Your insurance company pays for your rental

If you have been in an accident and your car has to be in the shop, make sure that your policy covers the costs of renting a similar car. While a week with your car in the shop doesn?t sound like all that long, one-week worth of rental fees can add up to the hundreds of dollars.

7. Shopping around pays off

Premiums vary widely from company to company. You can often pay more than double for the same insurance. Make sure that you call around for quotes from brand name companies and independent agents.

Don?t assume that going with a well known company will cost you more. Insurance companies with the best ratings often have the best prices.

Don?t just get a quote ? ask for the exact numbers on the exact coverage you need. You want to compare apples to apples.

8. Take advantage of discounts

Discounts can help to save you a lot of money. If you haven?t had an accident in years, if you store your car in your garage, if you don?t drive many miles ? you may be eligible for a discount. Companies will also give you discounts for safety features and anti-theft devises. More than one car or more than one type of policy with a company gives you a discount also.

Paying your premiums annually instead of monthly can save you over $100 a year. Driving classes and good grades while in school can save you also.

9. Teens that aren?t driving don?t need to be insured

If you teen is away at college and is no longer driving your car, take them off of your policy. Teen drivers add anywhere from 50% to 500% to your premium. If your teen is driving, make him or her get their own insurance. Its time for them to start learning about insurance on their own.

10. Older cars don?t need collision insurance

If you have an older car, you often don?t need to carry collision insurance. You will be paying more in premiums for it than the car is worth. Ask your agent what your car is worth and how much of your premium goes towards collision insurance. Chances are you could just save the extra money for a year and have plenty set aside for replacing your car.

11. Shop for the best service

You need to find a company that is responsive, responsible and easy to deal with. Chances are that you are going to file a claim at some time Read more…

Finding a good life insurance agent can get confusing. There are so many things that you just don?t understand. How about all of the abbreviations on their business cards or in their yellow page ads?

Here?s a short list of the most popular abbreviations you will see:

CLU: Chartered Life Underwriter ? a professional advertiser in business and family financial security in regards to life insurance. This designation comes from an accrediting institution. A comprehensive course of study and the passing of a series of 10 college level exams is required. They must be knowledgeable in the areas of life insurance, pensions, taxation, finance, economics and business and estate planning. There are strict ethical and experience requirements. It usually takes five years to become a CLU.

LUTCF: Life Underwriter Training Council Fellow ?those who meet or exceed the qualification standards of The American College and the National Association of Insurance and Financial Advisors. This designation shows a strong code of ethics and professionalism. There are five courses required to become a fellow, with two being personal insurance or business insurance classes.

ChFC: Chartered Financial Consultant ? an agent that is also a financial planner. This is a professional equipped to handle both life insurance and financial planning. There is a broad course program that must be completed to display this designation.

AEP: Accredited Estate Planner ? this title is awarded by the National Association of Estate Planners

Going to the dentist is bad enough without having to pay a huge bill. Forty-six percent of Americans don?t have dental insurance reports the National Association of Dental Plans. Many Americans have no idea that dental insurance even exists.

Individual dental insurance coverage is available, but you might have to do a little research to find the right policy for you. Dental work can run thousands of dollars in just a few visits. You want to have the policy that will best fit you and your family.

Like other health insurance policies, dental insurance ranges widely in the type of coverage you receive in relation to the benefits paid. Some things are simply not covered. Monthly premiums average anywhere from $12 to $50 per person.

That doesn?t sound too bad, but be sure that you check to see if this is simply an introductory rate. Many companies raise the rates significantly after the first year.

Make sure that you are dealing with a reputable insurance company. Dental insurance is an area that is highly reported to have fraudulent companies taking advantage of consumers. If your work offers dental insurance, it is probably your best option. If it isn?t available through work, be prepared to shop around to find a good company that offers a good deal. You can start by asking for recommendations at your dentist?s office.

There are three types of dental insurance coverage: Dental HMOs, Dental PPOs and Dental indemnity plans.

Dental HMOs are similar to a traditional HMO. You are given a limited selection of dentists that you can see. This type of dental insurance offers you the least amount of out-of-pocket costs. You premium costs are likely to be very affordable, often around $13 each month.

With a Dental HMO, you are usually guaranteed one or two dentists within 15 miles of your home or work. The focus tends to be on preventative care, with many plans paying 100% of these visits. They will usually pay for sealants or topical fluoride treatments that other plans do not cover. As your treatments become more complicated and expensive, your reimbursement rates could be at 50% or less.

Dental PPOs allow you to go to a network dentist and pay one set of prices. You can chose to see a dentist outside of your network for lessened benefits. The average monthly premium is usually around $30 per month.

Dental indemnity plans are considered traditional insurance plans and are rare when it comes to individual coverage. If you can find this type of coverage, expect to pay at least $40 per month.

There are credit unions, professional associations and affinity groups, such as AARP, that offer members access to group dental plans. You pay the entire premium, but get the benefits of being included in a group plan.

For example, AARP offers a group PPO plan to its Read more…

As I write this my portfolios on the computer screen are a sea of red and today even stronger countries like Singapore and Austria are taking a nice haircut.

Last week was not pleasant. For example, the India SENSEX index was off 12.96% and many other emerging markets went south.

While we had already trimmed some holdings and raised some cash over the past few months, we still had significant exposure to these markets. But helping us to limit our exposure and lock in gains is our firm policy of putting in place a 15% stop loss provision – in other words, a position is automatically sold when it declines 15% from its high. This policy takes the emotions out of it and forces us to take a fresh look at a region or country before making a decision.

In the last week, the stop loss has been triggered for India (MINDX)