For many working families, term life insurance is at the bottom of their priority list. Yet for the underinsured, enlightenment about how important the right coverage is often comes too late. Bad life insurance can create a world of problems for a struggling family, particularly if they lose their primary source of income. Finance and life planning experts have formulated a variety of recommendations that help all Americans recognize when they are underinsured. This realization will encourage them to select the best plan so that their families will not struggle in the future.

Who Needs Good Coverage?

Many financial advisors fight against the perception that only the primary income earner needs term life insurance. There is a tendency for stay-at-home mothers or fathers to undervalue their contribution to the household. Remember that if the nonworking spouse is suddenly unable to assist with childcare, the remaining spouse may have to hire a babysitter or make other arrangements. Whatever happens, it is almost certainly not as simple as loss of income. No matter what the situation, parents almost always provide more for their children than they realize and indicate on their term life insurance.

Benefits Of Term Life Insurance

There are generally two types of policies: term life insurance and policies that last throughout the lifetime of the purchaser. Many well-intentioned mothers and fathers buy policies they believe will be permanent and lifelong, only to discover that they are spending their money in a less than desirable way. If they continue paying, their beneficiaries will reap the rewards at the end of their life. If they terminate the policy, they receive a cash reward. With term life insurance, lower premiums provide equal coverage without the confusing incentive to cash in the policy early.

Determining The Right Level Of Coverage

The key element of any term life insurance policy is determining what level of coverage is actually appropriate. Experts advise policy seekers not to begin by thinking about what type would be affordable, but rather what type would really help their family. Individuals should consider how much they contribute to the family income, and what significant obstacles their absence would raise. If currently contributing to a college fund, that should be taken into account. If imposing new restrictions upon the family or forcing a lifestyle adjustment are likely consequences, then they should be considered as well. Any deviation from the current lifestyle could be a big problem, and might well justify extra term life insurance coverage.

When And How To Purchase

After making a decision, many families still put off purchasing term life insurance. After determining the amount desired and the best terms, completing the transaction and obtaining the protection is a vital step. In addition, financial advisers urge families not to deviate from their plans. While purchasing a smaller amount of coverage may seem preferable to purchasing nothing at all, in the long run it can make little difference. Some policies are small enough that they would hardly even pay for themselves, let alone help a family in need.

In addition, some may provide major benefits for a marginal cost increase. The only way to know with certainty is to check multiple providers before coming to a decision. Every service will have its own niche market to fill and may offer different plans based upon that particular market. What is offered by one company may be quite separate from what is offered by another.

Finding The Right Provider

In today’s world, shoppers have a new resource for finding policies: the internet. There are many services which can help compare different policies, collecting quotes from many major providers in one place. Some of them also help customers fill out applications for the actual plans, making it much easier to complete the filing. The internet also allows customers to check individual providers for reliability in a way that was impossible before the web. Online reviews and histories can reveal deficits that clients would never otherwise have anticipated. Researching a company online is a key step for anyone looking to buy a policy.

What The Underinsured Can Do

The first step any individual should take is to look at their current policy. If they are underinsured, they should consider purchasing a new policy to supplement their current policy or replacing their current policy altogether. Picking up a new policy is generally simple if the individual is in good shape and of a fairly young age. Even if not, a new term life insurance policy at a higher premium for the right amount is far preferable to a cheaper policy that would be inadequate.

Before signing any life insurance contract, make sure these points have been thoroughly considered to ensure that you are not underinsured.

These aspects are often cited by loan lending institutions as a means of acquiring new customers. However, there are a few negative aspects to the debt consolidation process as well. The key to a happier financial situation for the debtor is to make those negatives into positives!

“…One of the biggest negatives of consolidation loans is that they often involve a reasonable amount of account settlement with the original creditors. This might sound like a major positive in and of itself. However, when a debt is settled for less than what the contracted amount is worth it will negatively impact an individual’s credit rating. When someone has a large number of outstanding balances in arrears that are suddenly, settled, paid off, and closed down their credit scores can take a fairly substantial hit initially. This is a fact that many would-be lenders generally do not speak of with their clients. Honesty financial specialists will discuss with their clients prior to proceeding with consolidation processes…”

How then does this negative aspect become a positive one? What good is it to pay off debts if it will simply lower a credit rating even further? The fact is that even though an account might take a temporary hit it will improve dramatically in short order with all of those accounts paid in full. A short painful time with a score lower than ever will be replaced by rapidly rising scores as the weeks pass by. This is because the individual is no longer hemorrhaging money. If they are paying their consolidation loan in a timely manner it will continually bolster their rating. Another positive of paying off so many accounts at once is that it shows that the individual will make good on their promise to pay. This can cause a score to rise anywhere from twenty to a hundred points and more in a very rapid time.

“…Another tactic that can be used successfully is partial payment consolidation practices. This is a financial plan utilized by more experienced individuals. In this method the borrower will pay off only the newest accounts and accounts in collection status in their report immediately. The rest will be brought up to active status via paying the amount that is currently owed only. The individual will then continue to make monthly payments on these active accounts and their consolidation loan. This completely erases the negative credit hit aspect and adds on several positives. Older accounts that are considered to be in good standing will attribute greatly in the increase of a credit rating…” added A. Lillo.

Automobile liability insurance is vital in the itinerary of every vehicle owner. In the midst of the brand new purchase of a car, the owner must be fully informed of the accountability of which the owner is subscribed to during the term of the policy. In the case of an accident, the policyholder will receive a full amount of the agreed sum in order to compensate for the damage bills.

When the reason of the unexpected occurrence affects the policyholder, the coverage issuer must oblige to the payments in the complete amount. However in the automobile liability insurance policy, the estimators investigate the degree of the extent to which the owner is responsible to the contribution of the actual accident. Then the company has to determine on whether or not the negligence of the owner caused the entirety of the awful ordeal.

Unless the policy has stated that negligence would not be an issue in the disbursement of the monetary compensation, the policyholder is entitled for a full payment.

In estimating the exact amount of reimbursable payment, the owner must clearly state the precise actions taken when the incident occurred. The actuaries department is trained to find fault in the event of a careless driver being involved in an accident.

On other occasions, traffic mishaps triggered by non-permissive users may not be covered at all by the policy. In the case where the driver is not the registered premium buyer, the coverage is not extended to the rightful owner. However, if the owner was present at the time of the unfortunate occurrence, then a separate clause of the policy can be applicable to the compensation.

Coverage is affected when the owner breaks the traffic regulation at the time of the mishap. Negligence is at its highest when the owner has broken the law such as running over a red stop light or failing to halt at a stop sign.
The possibility of a non-reimbursable passage in the policy in a full-fledged negligible case of the driver when involved in vehicle damaging incident is quite high nowadays. Owners of vehicles must be aware that coverage is not provided for the inability to comply with traffic rules.

Those that work part-time, maybe suffered job loss, or are self-employed are left searching for options. We all know that every dime counts, but it is extremely important that you and your family’s heath care are protected.
There are some key things to note:

· What exactly do you require?
· How much will it cost you?
· What benefits are included?
· Can you find a better deal with another company?

Before you jump in with a specific company it is very important that you determine your needs. If you just need a simply individual plan, this will vary a lot from a family plan. You will have a hard time finding a policy that covers every situation, and if you do it will be very costly. So jot down the essentials as to what is important to you. Be aware that you and your family members may need to have a medical physical check up prior to a company insuring you. Be up front and honest about your needs and situation. Hiding problems or ignoring aspects of your health will only cause problems down the road.

How much can you afford? This is a very important question for everyone. Not only is the cost important, but the quality and quantity of what you are paying for is extremely important. Some people may think that they will never need a Doctor, and feel the $80-$100/month. they would have to pay too an insurance company is a waste. Keep in mind if you fall ill and need to spend time in a hospital requiring medical workup the cost could and very likely will be extremely high. Opt in for deductible options or co-payment in order to save some costs. You can lower your monthly requirement if you are willing to pay a lump sum in the event something happens.

What does company A offer that is better than company B? When you are shopping around it is important to know what exactly you get coverage for. Some of these additional coverage’s include but are not limited to, ambulance transfer costs, prescription drug requirements, follow up appointments with specialists i.e. lung, heart, dietitian etc. When comparing various providers it is essential that you compare apples to apples. And always remember if it sounds too good to be true it likely is.
I know that it is extremely time consuming to search for a good health insurance provider.

Over the years I have taken a look at many health insurance “search engines”, which provides data from many health insurance companies, both big and small. This allows you to compare the different plans offered.

The American Cancer Society estimates doctors will diagnose over 1.4 million new cases of cancer in the U.S. in 2007, with more than 559,650 cancer-related deaths. If you are among the majority of cancer patients and survive for at least five years following your diagnosis, you may face another fight: buying life insurance.

Buying life insurance for cancer patients is challenging, but not necessarily impossible. Your chances for securing a policy depend greatly on the type, stage and grade of the cancer, and even on the treatment plan. There is a relationship between the rate you’ll receive and the curability of your cancer. Certain types of skin cancer, for example, are considered very low risk by life insurance companies and a skin cancer history may not even impact premiums.

Applicants with common and treatable forms of breast and prostate cancer may be able to get a “standard” rating under ideal circumstances. But patients with a history of leukemia or colon cancer may fall into a “substandard” or “high substandard” rating at best, or receive declines. Anyone with cancer that has metastasized likely won’t be able to obtain a policy.

Dr. Charles Levy, senior vice president and chief medical director of AIG American General Domestic Life Insurance Cos., says, “We’re better and better able to differentiate the risks of individual cancers.” Life insurers like AIG American General have sophisticated tables to determine premiums, where they can factor in cancer types and treatments. The end result is better premiums because applicants aren’t lumped together as an “average.”

Most insurers will not offer a policy to someone who is still undergoing treatment for cancer. Depending on your type of cancer, the life insurer may also want to add a surcharge, also called a temporary flat extra. For example, AIG American General sometimes charges temporary flat extras for two to five years, depending on the applicant’s cancer and treatment. The good news is that although these extra premiums can be expensive, they will automatically disappear after a set period of time.

Cancer insurance risk specialists

While a dedicated life insurance agent will search cancer insurance companies to find insurers that will sell you a life insurance policy, in some cases you may be better off seeking out a broker who specializes in finding life insurance for people who have a history of cancer.

These brokers will know the specific questions underwriters will want answered when considering your application. Many brokers have developed relationships with several insurers, so they know which companies offer the best-priced life insurance policies for cancer survivors. Some brokers have experts who specialize in gathering your medical records and organizing them.

By directing your application to life insurers that will view your application most favorably, these brokers will help you find the most accurate price quotes and the lowest premiums for life insurance. Always check the financial strength of the insurer before you buy any policy and be sure that the agent or broker you choose is licensed in your state.

Life insurance strategies for cancer survivors

If you are a healthy cancer survivor, life insurance is even more feasible. There are things you can do to ensure you’re getting the best premium offers possible for your situation.

1. Gather all possible medical records before you apply, from the first pathology report to medical records to treatment records. That ensures medical underwriters have the most complete picture of you, your health, and your cancer history. Having all those records before you apply for cancer insurance will reduce delays in your application process, because your life insurer is going to request them and will wait for them. The information you provide can garner you better premiums in the end: The less life insurer underwriters knows about you, the more likely they are to have to assume you are the highest risk and offer you high premiums accordingly. According to Levy, “If it’s fuzzy, we’re more likely to err on the side of conservatism.”

2. Make sure you have complied with your doctor’s treatment plans. For example, says Levy, if your doctor asked to see you back in one year and you haven’t been back in four years, get to your doctor for your check-up before you apply for life insurance. Your life insurer is not going to offer you a policy without before seeing the results of that check-up. Similarly, if you’ve had breast cancer and you’re due for a mammogram in December and you apply for cancer insurance in October, your life insurer will likely wait for the results of your next mammogram.

3. Get prices from several companies. Policy costs can vary a great deal among companies.

4. See if you can get group life insurance through a professional, fraternal, membership, or political organization to which you belong.

5. Consider a “graded” policy (one with limited benefits) if you cannot get full death benefits. In the first few years of a graded policy, the company pays only the premiums and part of the face value if the insured person dies of a condition, such as cancer, that existed before the policy took effect. If the insured person dies after the specified grading-in period, the company will pay the full face amount of the policy.

If your cancer has been successfully treated, and you are otherwise in good health, you can likely obtain a cancer life insurance policy. If you can show that you are healthy and your treatments have gone well, several insurers may compete for your business.

There are some key things to note:

· What exactly do you require?
· How much will it cost you?
· What benefits are included?
· Can you find a better deal with another company?

Before you jump in with a specific company it is very important that you determine your needs. If you just need a simply individual plan, this will vary a lot from a family plan. You will have a hard time finding a policy that covers every situation, and if you do it will be very costly. So jot down the essentials as to what is important to you. Be aware that you and your family members may need to have a medical physical check up prior to a company insuring you. Be up front and honest about your needs and situation. Hiding problems or ignoring aspects of your health will only cause problems down the road.

How much can you afford? This is a very important question for everyone. Not only is the cost important, but the quality and quantity of what you are paying for is extremely important. Some people may think that they will never need a Doctor, and feel the $80-$100/month. they would have to pay too an insurance company is a waste. Keep in mind if you fall ill and need to spend time in a hospital requiring medical workup the cost could and very likely will be extremely high. Opt in for deductible options or co-payment in order to save some costs. You can lower your monthly requirement if you are willing to pay a lump sum in the event something happens.

What does company A offer that is better than company B? When you are shopping around it is important to know what exactly you get coverage for. Some of these additional coverage’s include but are not limited to, ambulance transfer costs, prescription drug requirements, follow up appointments with specialists i.e. lung, heart, dietitian etc. When comparing various providers it is essential that you compare apples to apples. And always remember if it sounds too good to be true it likely is.
I know that it is extremely time consuming to search for a good health insurance provider.

Over the years I have taken a look at many health insurance “search engines”, which provides data from many health insurance companies, both big and small. This allows you to compare the different plans offered.