Life Insurance Companies

Insurance is all about the evaluation of risk and it is something that life insurance companies know a lot about. Every time life insurance companies receive an application for a life insurance policy, the companies decide how much of a risk that applicant poses to their business. This is to say that the insurance companies make an educated estimation of how long the applicant is likely to live versus how many insurance premium payments they are likely to make before death occurs.

If they believe that the applicant will live long and will therefore make a substantial number of insurance premium payments during his/her life, then life insurance companies see the applicant as low risk to their business. However, if life insurance companies believe that an applicant could die soon, and therefore make relatively few insurance premium payments while they are alive, that candidate will be seen as a higher risk by the insurance companies.

How life insurance premiums are calculated

When calculating life insurance premiums two factors are considered by life insurance companies. The first factor involves an evaluation of the general likelihood of death occurring at a particular age, and involves the scaling of applicants against normal life expectancy. This sets the 'average' risk level that different age ranges attract; needless to say that the closer you are to your average life expectancy then the higher the risk level that you'll be measured against.

The second factor is based on whether the applicant is above or below their average risk level for their age. Someone who has an unhealthy lifestyle, suffers from pre-existing health conditions and is in a stressful job is likely to be classified as 'above average'. On the flip side, someone who goes to the gym regularly, does not smoke and eats a balanced diet is likely to be seen as 'below average'. Naturally, those who are below average risk will see keener insurance premiums on their life insurance policy for their age than people who are classified as 'above average'

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Avoid These 3 Mistakes to Save Money on Individual Health Insurance

Avoid these 3 mistakes when shopping for Individual Health Insurance and save yourself money and headaches later.

Whether you are looking for health insurance to bridge the gap between jobs and an employer sponsored health plan or you are self employed buying for the long term avoid these mistakes to save yourself both money and headaches.

Buying the lowest cost plan. Often the lowest priced plan is not the best one for your situation. Lower cost plans usually have restrictions on providers, so you may not be able to see your doctor or hospital. Also lower cost plans have higher out of pocket costs and deductibles that you have to pay before the policy pay any claims.

Buying a discount health plan or 'mini-med' plan. Discount plans are popping up more especially through the Internet. These are plans were you pay a monthly fee in exchange for access to doctors that agree to offer you discounted rates. The problem here is that the network of doctors is very small and these plans do not usually cover prescriptions.

"mini-med' plans are also becoming more popular as they offer low premiums in exchange for coverage with an annual limit of $50,000 to $100,000. On the surface they seem like a good deal, however once the policy has paid out the limit you are responsible for the rest of the bills. With today's rising medical costs $50,000, even $100,000 would not cover an extended hospital stay due to major issue such as a heart attack, cancer treatments or stroke.

Relying on COBRA. Cobra is the government legislation that allows a person to continue to pay for their employer's group plan following certain separation events such as a lay-off. Premiums are based on a percentage of the former employee's contribution. If you have current health conditions COBRA maybe the best option for you, however if you are relatively healthy you may be able to save money by purchasing your own private Individual Health Policy.

Avoid these 3 mistakes and you will save yourself some money and headache. Contact your local Independent Agent for help and guidance.

Larry Baca is the owner of NTR Insurance Services an Independent Life & Health Insurance Agency. NTR Insurance Services in based in Chino Hills, California. http://www.ntrinsurance.com Article Source: http://EzineArticles.com/?expert=Larry_Baca

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Insurance And Investment

Perhaps the title of the article may be confusing for many as they can be under the impression that these two words have nothing in common and fairly represent two totally different ideas or thoughts.
It was quite true in India a few years ago when the insurance was not opened to foreign investors and economic reforms have not been implemented. In the pre reform era there was only one life insurance company in India - LIC, Life Insurance Corporation of India. It had a monopoly in the industry and the public funding and support.
Being the only player on the market, it was nothing special in the kind of politics - as a product. Whatever was available, at what price and in whatever form, was sold and bought? It has no options, and customers were required to purchase these products.
At the time, especially long-term plans, life, long-term plans - known as long-term measures or whole life policies are mainly sold by the LIC. It had a strange term that ranges from 20-35 years. The only thing special about LIC plans was that they were available at the meager cost, very low monthly payments, etc. They were quite within reach of the average person. So people did not buy them with eagerness, but for having no insurance, or in many cases not even knowing the reason purchases. There was only one aspect of saving some money, without thinking about the return on it.
Natural as the insurance was never intended as an investment avenue, there was no one big return on it. People were happy with what 6 -7% return they were given during the course of 20-35 years. Therefore, insurance has never been considered as an investment option in India recently.
Financial reforms in India, including insurance reform opened the doors for foreign investors and the Indian market was flooded by the number of experienced, developed, world-known insurance players from the world.
This reform process has benefited greatly from the Indian customers in different ways.Entirely new types of plans, tested around the world were made available to them.Competition in the market, improved customer service to LIC forced into bankruptcy.Access to several products that made it possible to compare benefits and cost structure, which was unknown to them until now. Before the insurance reform hardly any known costs for LIC policies, and no one cared about it too.
The most important factor to change was the introduction of unit-linked policies. These are the new products can be where people think of earning higher returns, even more than the fixed deposit rates of the nationalized banks in India in the medium to long term plans. As unit-linked policies offer higher returns, of course, that means greater risk, too.But no one can think of high returns without risk. These are related to the stock market and the high volatility and the volatility of an impact on the valuation of the units - called NAV-net asset value. But experience teaches us that despite the costs and risks in it, there will be more profitable for the investor. Investor can look at insurance as a way to earn higher returns, as an investment avenue. It can easily be integrated in the investment portfolio of common man.
ICICI Prudential Life Insurance Company, the leader and the Number One private insurance companies, since its inception, has maintained its leadership in the industry in India because of its best products, efficient service, customer-friendly approach, prudent investment policy and so many other factors. The policyholders of ICICI Prudential Life Insurance has been rewarded with high and reliable yield. Therefore, today in India now even the common man's idea to make sure the policy is also changing. It is not only regarded as coverage of the risk of death, but also estimates of the premium paid over the term of their lives, so that he can enjoy the benefit of insurance for life. There is no use of it to the mover after his death.
So ICICI Prudential life insurance provides convincing high yield of pleasure in life - "Enjoy the wealth generated during Lifetime" 

Article Source: http://EzineArticles.com/?expert=Pradip_Gharpure

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Importance Of Insurance In Your Life

A human being is an asset that produces revenue. ability to generate revenue depends on the ability of one person, (manual, professional, problem-solving, entrepreneurship, etc.). This is an asset. Asset value can be measured by considering the revenue generated by the person concerned. Human Life Value Concept, provide scientific means to determine the asset value of human life and therefore, the required amount of life insurance ... These techniques, like the other techniques associated with the sale, had to learn on the job.
These assets can also be lost through early sudden death or through disease and disability caused by accident. Accidents may or may not happen. Death will happen, but the timing is uncertain. If that happened around the time of a person's pension, as can be expected that income will usually be stopped, the person concerned can make some other arrangements to meet the needs continue. But if it happened much earlier if alternative arrangements are not in place, there can be disadvantages to people and their families. They rely on income assistance to overcome their difficulties with insurance.
Someone, who may have made arrangements for needs after retirement, will also need insurance. This is because the arrangement will be made based on expectations as some, it is possible to live for 15 years, or that children will be able to look after aged parents. If one hopes does not become a reality, the original settings will be inadequate and there may be difficulties. Life's too long can be as much a problem as too young to die. Both are risks, which must be guarded against. Care insurance.
Thus, the risk of human cases related to:
• premature death• Living too long• Disability• Illness• Unemployment

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Life Insurance Quotes and Settlements

In the past, people who received life insurance quotes have always set back silently and just waited for the best offer. Back then, most individuals could be trusted and were assumed to be honest. Today, people are realizing that just because something sounds good, that doesn't mean it is. This is especially true in the insurance settlement market.
When you receive quotes for a payout on your current policy, the company that is purchasing your plan is stating how it will take over the policy for you and provide you with one payment as a life insurance settlement. This type of policy can be quite beneficial for a person who is in dire, financial straits.
All that said, the settlement market is still in its novice beginnings. You should be cautious when you receive quotes regarding the value of your settlement. There are unscrupulous buyers who have no ethical qualms about targeting the elderly and the weak and will give them life insurance quotes which are far less than they should be. They themselves will earn a tidy profit, but the policy seller will often be worse off than he was before.
This should not dissuade you against a settlement for your insurance policy. If you no longer need or want your current coverage or cannot afford it, then changes have to be made. Still, it is very important that you know all the facts before you consider making any alterations to your insurance coverage.
You should always be prudent about any financial transactions you make. Before you make any decision regarding any settlement life insurance quotes, you should talk to a reputable insurance agent first. You want to make sure that you get all that you deserve and not be taken in by scam artists.

Paul Powell is a consumer advocate and father of three children who is always looking for ways to spend money smarter, you can find more insurance advice from Paul and other writers on life insurance quotes and other insurance topics at Insurance County, thanks for checking in.

Article Source: http://EzineArticles.com/?expert=Paul_Powell

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Life Insurance - It's Not About You, It's About Them

There was a client that I was working with when I sold auto insurance and I asked him who was his life insurance agent. The client responded that he didn't believe in life insurance. I asked him why and he told me that he felt it was bad karma to bet on his own death. I told him that betting on ones death is a sure bet and that he could either bet the house and win big or pull all his chips off the table and try to beat the house. He said he would try to beat the house! This is a common misconception that people have when it comes to life insurance. They feel that they can beat the house when it comes to their own death, but when they lose that bet, they aren't the biggest losers, the children and spouse that they leave without resources to live and take care of themselves are the ones that suffer the most.
Life insurance is a tricky subject to bring up with people. On one hand, you don't want to scare people into thinking about their own mortality, but on the other hand, it's exactly what needs to be done. None of us are guaranteed an opportunity to experience then next day, minute or hour and we need to be reminded of that every now and then. Along with that reminder, there needs to be a frank and serious discussion on what happens when we die. No, not what happens to us, but what happens to the family and the loved ones that we leave behind that depended on us for their care and well-being. This is where life insurance comes into play.
I've had some clients tell me that they have instructed their family to not pay the bills they leave behind when they die. "You can't get cash out of a dead man," is what they say to me. The unfortunate part is that is a very selfish way to look at life and death. What about if your creditors start coming after your co-signer on the loan that you left behind? Or if your kids and wife lose everything they had because they don't have enough money to pay the bills that are left behind? Is that any way to leave a legacy? I think not and the bad part about it is that it's totally preventable and easy to fix. All it takes is a view of life and death that takes you out of the picture and focuses on others in our lives.
Life insurance is not mandated to have, but I believe a serious discussion needs to take place as to why it should be. The reason I believe so is because there are too many families that have lost everything and ended up in a cycle of poverty because the main earner in the family died un expectantly and left no way for the family to live and prosper without falling into debt. Just think how many accidents claim the lives of people everyday? Now think about if only 30% of the victims had life insurance? That leaves 70% of families who are now possibly on the verge of losing everything they have because they now lost either 1/2 or the whole source of the family income. These are strong numbers to think about, but the reality is that it happens everyday. The question is, will you be ready and will your family be ready if it happens to you?

My name is Scotty Hendricks Jr. I am the owner of The Hendricks Group, Risk Management and Financial Services, LLC, based in Jacksonville, Florida. I am a licensed life, health and variable annuity agent in the state of Florida and other states of the country including Georgia and North Carolina. I have been working in the insurance industry since 1999 and feel very passionate about educating people about using insurance to not only secure the present, but also your families future.
My website is http://www.thehendricksgroup.com and I can be contacted through my site or at scottyhendricks@thehendricksgroup.com.

Article Source: http://EzineArticles.com/?expert=Scotty_Hendricks

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Health Insurance Companies Under Closer Scrutiny

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The health insurance industry has been at the center of the firestorm over raising rates. Practices such as rescission (canceling a policy) in the absence of fraud have been heavily criticized.

The Obama administration's healthcare reform law gives the federal government a greater oversight role than it had in the past. Previously, most regulations were left up to state insurance departments. These departments are often underfunded and understaffed, allowing what many consider consumer abuses to take place.

Secretary of Health and Human Services Kathleen Sebelius has vowed to change that. During a recent meeting with the CEOs of several major health insurers, she warned them that they would be under a closer watch than they were before.

According to Sebelius, the increased scrutiny is necessary to protect consumers, who have often suffered from health insurance plan premiums that continue to rise far beyond the rate of inflation. Included in the law are provisions that give HHS the authority to regulate medical loss ratios (the percentage of premiums spent on medical care), as well as review and possibly reject proposed rate increases. Most states already have the latter power, but it is rarely exercised.

Opponents of the strategy believe that the federal government is overreaching. They feel that it is yet another example of encroachment on private business. Moreover, the industry defends some of their most egregious rate hikes by saying that the actual cost of providing care has risen sharply over the past decade, and it is only inevitable that they must increase the cost of their health insurance plans to cover them.

Both sides agree that their talks were relatively productive. Cigna, HCS, Blue Cross Blue Shield, and the controversial WellPoint were the health insurance companies included in the meeting.

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Tips on Claims For Hurricane Insurance

If you have been affected by a hurricane and suffered the resulting damages, you need to file for claims from your insurance company for reimbursement of all of your damages. To do this, first of all you need to know what your insurance plan covers and what it does not. What is your share of stakes towards the damages? During this turbulent time, a few pointers on filing claims for damages from the insurance company will give you a clear understanding.
Initiating filing of claims
1. Your insurance company needs to be intimated as soon as you find damages, say to your automobile. Insurance companies have staff working in the claims department 24 hours a day. If you have rental car coverage on your policy, they will immediately schedule a rental car for your use. This is done in lieu of the fact that although there are not as many car claims as property claims during a hurricane, rental car companies may experience a shortage of available cars. Acting immediately will save one the pressures of being stranded without transport.
Taking photographs of the damaged property will help the insurance company assess your damages quicker. It may take the company time to get to your damaged property in a hurricane hit area. In the mean time, you have the responsibility to prevent further damage to your vehicle or property. Simple measures like covering broken windows on the vehicle or sheeting holes on your house roof will keep away straying animals and prevent rain from causing more damage. Do only what is reasonable and safe, taking caution not to put oneself at risk.
Losses need to be documented
2. The best claim tip would be to take a video tour of your home, recording all your belongings after having taken a policy. Or, you could do this manually, by making a paper note of the items at home. This will ensure no items are left out when the claim is made. Make a note of inconspicuous items like bed linens, vacuums, etc.
Many polices include food-spoilage coverage in a homeowner's policy. This policy covers all losses with regard to food items like condiments and foods stored in the refrigerator and freezer. The set limit is $300 to $500 per appliance. Make sure to include that amount in the claim. These reimbursements will help in recuperating from heavy losses incurred.
Claims made for Reimbursement
3. File all receipts of purchases carefully and keep them easily accessible. Most homeowner's insurance policies cover hotel expenses. Miscellaneous items like food, toiletry, medicines, entertainment items like books and movies should be covered as well. Receipts for all these purchases have to be produced to make a claim. Keeping in mind that only a reasonable amount will be reimbursed, one would do well to stay away from spending exorbitantly on clothing and other accessories. While trying to derive the maximum benefit from an insurance policy, it is to be remembered that an insurance policy only reimburses to an extent, and not the entire purchased amount.

The author has been writing articles online for nearly 2 years now. Not only does this author specialize in insurance, you can also check out his latest website about graduation party supplies and outhouse bathroom decor. They have useful information and tips.

Article Source: http://EzineArticles.com/?expert=Mohd_Aizat_Hassan

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How To Comply With The Health Insurance Mandate When You're Unemployed

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It seems absurd: being required to buy something when you do not have the income to do so. However, that may be the case under healthcare reform. The individual mandate has been very controversial, but little has been said about its impact on the unemployed.


One would assume that there would be an exception for those who do not currently have a job. That would be inaccurate. According to the law, virtually everyone will be required to have insurance by 2014, regardless of their job status.


However, there are several solutions. Since the penalty for being voluntarily uninsured is assessed on your annual tax return, a person will not be subject to it if they fall below the filing threshold. In other words, his or her income is so low that the IRS does not require them to file a return. Currently, that is considered to be a yearly income at or below $9,350. With the essential expenses of food and housing, it is unfair to expect those far below the poverty level to buy health insurance.


Even if you earned a slightly higher income, there is still a chance of avoiding the penalty. If you can prove that the least expensive plan on the affordable health insurance exchange markets costs more than eight percent of your annual income before losing your job, you will be exempt from the mandate.


There are other ways of complying with the health insurance reform law's mandate. Medicaid eligibility will be expanded to adults making up to 133 percent of the federal poverty level, which was $14,400 in 2009. In that case, the government will fully cover your health insurance premiums.


Subsidies are also available through the exchanges. If you are unemployed, your eligibility for those subsidies will be based on an estimate of household income for the upcoming year, taking the loss of your income into account. That is a change from the normal process, which judges a person's eligibility through last year's household income, as stated on their most recent tax return. The alternate estimate is especially helpful for those formerly employed in high-wage positions that would have otherwise been ineligible under the standard calculation. With more generous subsidies, the unemployed may have to pay little or no out-of-pocket costs for their health insurance plans.

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Irish Construction Insurance

One of the most interesting facts about the Irish Construction industry is that there is no legal requirement for a construction company to hold any from of construction insurance! In fact, the only insurance an Irish contractor is legally obliged to have is basic motor insurance on his/her motor vehicles!

Although there is no legal requirement under Irish law for a contractor to hold adequate Construction Insurance it is extremely important that adequate cover is in place.

One of the most important reasons is the high injury & mortality rate on Irish Construction sites. One major positive of the recent construction boom is the fatality per thousand ratio has fallen in recent years although it is still at an unacceptable level.
For example, in 2001 28% of workplace fatalities were Construction related and the Irish Construction industry is consistently second only to the Irish Agriculture& Forestry Industry.

As many primary contractors require their subcontractors to hold Construction Insurance the reality is that although Construction Insurance is not a legal requirement it is usually a prerequisite to obtaining work on the majority of the countries construction sites so the need for construction insurance is a necessity in everything but law!

Although Construction Insurance is quite a complex field the four main areas of cover are as follows:
• Public Liability Insurance
• Employers Liability Insurance
• Contractors All Risks
• Personal Accident
Public Liability Insurance
Public liability insurance [PL] provides cover in the event that the policyholder is sued by a third party who feels that they have suffered injury or loss as a result of the policyholders negligence (lack of care).
Consider the following examples where Public Liability Insurance will provide cover:
• You run a plumbing company. One day you are called to an office to sort out a problem in their kitchen. Accidentally, you burst a pipe, and flood the office. Your client then makes a claim against you for the damage to their carpet and computer systems which have been damaged by the water.
• You are a building contractor. While walking along scaffolding one of your men drops a piece of equipment which falls to the street, injuring a passing pedestrian. The pedestrian makes a claim against your firm.
Obviously these are very simplified examples and we haven’t discussed the complexities of Products Liability/Liability Law/Duty of Care etc however it should provide a basic understanding of Public Liability Insurance.

Employers Liability Insurance

Employers Liability Insurance [EL] provides cover if any of your employees suffer physical injury or death, and it is proven that as an employer you acted negligently and subsequently could have prevented their loss. If they then decide to pursue you for compensation the insurer will pay the cost of the claim.
Consider the following examples where Employers Liability Insurance will provide cover:
• You run a carpentry company. One of your employees loses a finger while using a chop saw and decides to claim against you for his injury
• You are a scaffolding contractor and are erecting scaffolding around an apartment block. While erecting the scaffolding one of your employees falls and suffers severe bodily injury. He decides to claim against your firm.
Please note that Public & Employers Liability is offered ‘hand in hand’, that is when arranging construction insurance you will need to arrange both Public Liability & Employers Liability Insurance together [Also known as Combined Liability Insurance] as Employers Liability Insurance is not available on a ‘Stand Alone’ basis..
Contractors All Risks Insurance

Contractors All Risks insurance (also known as Contract Works insurance) is an insurance policy specially designed for builders and a number of other trades working at a contract site. Contractors All Risks insurance can include cover for contract works, own plant, hired-in plant and employee's tools. The main part of the contractors all risks insurance is the contract works section which provides cover for the property being worked on (e.g. new house, etc.). However, cover for the existing property is excluded (e.g. the existing structure when building an extension) and must continue to be insured under its own insurance cover.
Consider the following examples where Contractors All Risks Insurance will provide cover:
• You are a building contractor and are building a house for resale. So far you have spent €200,000 on materials and labour. The property catches fire and is destroyed before it has been completed. • You are groundwork’s contractor and are presently digging foundations for a new housing development. Naturally you leave your excavator on site until the contract is completed however one night your excavator is stolen.
Personal Accident Insurance

Personal Accident Insurance [Also known as Income Protection Insurance] is highly recommended for a sole traders, business partners and company directors as a combined liability policy does not cover any injury caused to a sole trader/business partner while it is extremely difficult for a company director to sue his/her own company. A policy can be tailored to your exact needs and policies include a tax free monthly benefit, a lump sum [capital benefit] and hospital cash.
Consider the following examples where Personal Accident Insurance will provide cover:
• You’re a self employed carpenter with no employees. You cut your hand and are unable to work for eight months. As you have Personal Accident cover you receive a tax free benefit of €1,500 after one month and continue to receive this amount until you return to work.
• Although Personal Accident/Income Protection insurance is no substitute for full time earnings it will provide you with an income if you are unable to earn and it will reduce your financial worries at a time when your recovery should be your number one priority.

Machinery & Plant Insurance
Machinery & Plant Insurance is normally arranged on a case by case basis and provides Accidental Damage Fire & Theft Cover on Machinery. This policy is normally taken by contractors who wish to cover a specific number of items.
Health & Safety Executive

In Ireland the HSE [Health & Safety Executive] have the ultimate authority over Construction Sites and have the ability to close a site if they feel it is a safety hazard. Their primary initiative is the ‘Safe Pass’ – a one day site safety training programme.
Who needs to do Safe Pass awareness training?
Safe Pass is a one-day safety awareness programme aimed at general construction workers, craft workers and "on site" security personnel in the construction industry. The aims of the programme are to:
• raise the standard of safety awareness in the construction industry
• ensure that site personnel after completing the one day awareness programme can make a positive contribution to the prevention of accidents and ill health while working on the site
• maintain a register of personnel who have received training
• provide participants with a FAS Safe Pass registration card, indicating that the holder has attended a formal course in health and safety awareness
Under the Safety Health and Welfare at Work (Construction) Regulations 2006 Safe Pass / Safety Awareness Programmes applies to -
(a) craft and general construction workers,
(b) persons undertaking on-site security work, and
(c) persons or classes of persons as may be prescribed by the Minister.
For more information on Irish Site Safety please visit the website of the Health & Safety Authority www.hsa.ie while for more information relating to Irish Construction Insurance please visit the website of Keystone Insurance www.keystone.ie, Ireland’s premier supplier of Construction Insurance

Read more: http://www.articlesbase.com/insurance-articles/irish-construction-insurance-165902.html#ixzz0o5nwgVOD

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Accident Insurance Claim Tips

An accident insurance claim usually involves strict regulations and minute speculations which your insurance company will be able to go through with you. You should think properly before you decide on the claim and when you are ready with all the necessary details, call the insurance company.

Inform the company accordingly about the event either through phone or through person and provide as many details you can. Try to be straightforward while providing the information so that nothing is missed out. If there is any contradiction found between the event and the information, the full insurance cover may be jeopardized. There could even be delay in the payment.

If possible, produce the original documents and records as evidence and assist the officials from the insurance company including the investigator and the doctor (if applicable).

Types of Insurance claims
There are generally three types of accident claim scenarios and they are Car, Home and Travel. The details of these insurance claim situations are listed below for your reference.

Car - If you happen to be involved in a car accident, see if there are any casualties or injured people - if it is a serious situation call 000. Do the same if there is any hassles with the driver or if they are drunk.

On first instance, never admit your fault or take the liability of the incident and agree to pay them for the damage. If they force you, call the insurance company and inform your insurer.

Take down some necessary information as evidences that would be handy at the time of settlement of the claim. Note the names, contact numbers, addresses, phone numbers of the witnesses and the parties involved, even mention the speed limit of the car, as well as time and date for quick reference.

Ask for the insurance policy details from the driver and if possible take some pictures of the scene and construct a brief layout of the road.

Home - If you find yourself in any kind of trouble at home inform your insurer before you call the repair person. They will guide you with necessary assistance and will take the responsibility of helping to coordinate any repairs. This emergency assistance provided by the insurance company is an additional support, which is usually mentioned in the policy papers.

After you are out of trouble, check for any damage done to your house or property. Record every details of the damage with evidences such as pictures, a witness of the emergency, service provider, records of purchase of the properties that includes its prices, date, time, extent of damage and other related things. Submit your asserted claim to the company before the deadline and wait for their action.

Travel - Make sure your insurer is kept up to date with your medical state. It is also important to see a doctor before you travel to make sure you receive all necessary vaccines. Failure to do so may void your policy, so if you are unsure consult your insurer. If an event happens whilst on holiday be sure to gather and document as much evidence as you can then contact your insurer as soon as possible. Maintain all the medical records including prescriptions and receipts of medical bills. Keep in touch with the insurer and inform them about the current situation. For theft, report to the local police immediately and arrange for the written police report of the enquiry made by them. This report must be submitted to the insurer within 24 hours of the incident. Make a possible list of the items that got stolen and arrange for purchase receipts as proof of ownership. Make the insurer believe that there was no fault of your behalf and this was a mishap.

Remember it is better to be thorough with insurance claims than to be careless and risk missing out on a claim. If you are unsure about any part of the claims process you should contact your insurer to check and avoid making a costly mistake.

George Pettit is a journalist and financial specialist from Australia. He writes for several magazines about topics such as real estate, investments, accident insurance, currency trading and much other which attract attention of many readers.

Article Source: http://EzineArticles.com/?expert=George_Pettit

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Fighting Bad Faith Insurance

When you pay insurance, you are paying a premium or other such fee just in case something happens. If something does occur, your insurance should help you pay for the damages if they are covered in your contract. However, sometimes insurance companies decide to deny you claim even if it is supposed to be covered in your insurance plan. This is called bad faith insurance

People rely on many different types of insurance to help protect them from future bills. For instance, medical or health insurance can aid in doctor payments, as well as expensive treatments should you need care in a hospital. Although you have paid your premium to your insurance company, they may decide to deny your claims so that they are not responsible for the high bills either. You can suffer from bad faith insurance with many other types of coverages, including:

Auto insurance

Homeowner's insurance

Dental insurance

If your insurance company has denied your rightful claim, there are several steps that you can take to protect your rights. First, many insurance companies allow for people to make appeals if their claim is denied. However, you should be very careful to follow your insurance provider's guidelines for appeals. For example, some companies require that you submit your appeal within a certain time after your initial letter of denial.

Should your company still refuse to pay your claim, you should enlist the help of a lawyer to help you fight for your rights. An attorney can help you go through your contract and make sure that the insurance provider is responsible for your claim. You may have to fight this bad faith insurance claim in court. If you are a victim of bad faith insurance, you should keep all of your correspondence with your insurance company regarding the claim so that you can submit it as evidence should you go to court.

It can be very intimidating to stand up to a large, powerful insurance company, and a lawyer can help. You have already paid for the coverage that you deserve, and it is unjust for the company to refuse to pay for your claim.

You should fight back today by visiting the website of the bad faith insurance attorneys from the Abel Law Firm today.

Article Source: http://EzineArticles.com/?expert=David_S_Caldwell

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