Posted on Thursday, 1st July 2010 by admin
You’ve worked most of your life to give your family a comfortable house to live in. You want your children to live happily and contented with the business that you’ve built through the years. Yet accidents do happen. When it does happen, the first question will be, are you protected to ensure that what you’ve built through the years won’t easily be blown with the wind? If your answer is yes, then congratulations! Yet then again, what if you’re not protected to ensure everything that you’ve worked for including yourself? You need to think it over. Remember, even the most careful person needs insurance. They can’t prevent accidents from ever happening. Although, having insurance is not a substitute for risk management, yet it’s designed to help you absorb any responsibility that may occur.
Hopefully as you read on, this article will let you realize the importance of having insurance. Not just for your protection, yet for the protection of your loved ones and the dream that you’ve built. If you do have insurance and you’re tempted to put it off, don’t. Insurance helps you pay for everyday expenses and provides you a back-up in case of serious illness.
First, what is insurance? Insurance, according to the dictionary, is a promise of reimbursement in the case of loss or is an amount paid to people or companies after a disaster or accident. In short, insurance is a policy designed to make sure that you are no worse off after an accident or disaster than you were before it happened. Insurance is designed to protect you and your family from unforeseen disasters and financial burdens. Insurance comes in all shapes and sizes. It runs the extent from personal insurance to corporate umbrella liability plans, as well as auto and homeowner’s insurance plans. Knowing what types of insurance you need is also important to make sure that you don’t overspend on things that are unnecessary.
There are different types or kinds of insurance for every type of situation. Here are some important types of insurance: Disability insurance, life, health, long term care insurance, auto, homeowner’s insurance and liability insurance. Consider your needs and what you need to protect. These are the most common types that anyone may need in case something happens to your property, to your loved ones and most specially to you.
Disability insurance. Did you know that a person like you is more likely to be disabled for sometime before you die in case of a serious accident? Ask yourself, if you become disabled, how can you cover your expenses? How will you be able to save for your retirement? Since majority of disabilities are health related, can you afford the risk of being without earnings and having increased healthcare expenses? If you are someone whose income is required to maintain your lifestyle, then protect your income by purchasing this type of insurance as this is a vital risk management strategy for all wage earners.
There are 2 types of disability: short-term and long term. Short term coverage will provide income replacement protection, usually after one week of disability, and will pay up to six months. Long term, on the other hand, is the type of disability that starts generally at the six-month mark and continues until age 65. 24.5% of American household no longer have health insurance when they lost or changed their jobs. The sad part about health insurance is that if you can’t afford to pay the premium, you definitely won’t be able to afford bearing the risk yourself. If you contract an illness while being uninsured, you may not be able to buy insurance later because you will have a pre-existing condition or would likely end up paying more than what you should.Health insurance.
Almost one out of five Americans has no health insurance. Most of these people state that cost is the reason. Life insurance. On most occasions, life insurance protects your surviving family in the event of your death.
This type of insurance offers protection to the family you leave behind and serves as a cash resource to deal with money owed, payment of mortgages, and other living expenses. Also, life insurance can have a savings or pension component that provides for you during your retirement. It also protects your hard earned possessions by providing tax free cash which can be used to pay estate and death duties and to tide over business and personal expenses. In case of bankruptcy, the cash value as well as death benefits of an insurance policy is exempt from creditors, if any.
Auto insurance. Imagine you were to be involved in a car accident with another car and was found out that it was your fault, you need to pay for all the damage done would you be able to pay for repair or replacement of the other car and pay for the medical bills of the other driver and their passengers? Owning a vehicle and letting it out of the garage would definitely mean you should have auto insurance. Depends what state you’re located and the brand and make and model of your vehicle as well as your age, would depend on the amount of premium that you need to pay.
Having insurance is important to good financial planning and security, yet you need to assess your personal risk and long term commitments. Insurance gives a person a heads up throughout life and can be used in cases of emergencies during a life time by requesting a withdrawal or loan. If you are still having second thoughts of getting insurance, you may want to think again. Having insurance is an investment, you’ll say you don’t need it so why pay for something you don’t need? Remember there is always something that you need yet you can’t see – protection and knowing it’s just there when you need it.
Homeowner’s insurance. Having a beautiful home and furnishing it doesn’t stop there. If you have a home and you have a mortgage, you must have homeowner’s insurance protection. First, your mortgage company would require you to have it and second, even if you own you home outright, you still need to have homeowner’s insurance to replace or fix the things that are too expensive or impossible to pay for yourself.
Watch the video related to insurance
Bangkok Insurance
Help answer the question about insurance
How do we get insurance companies to reduce medical insurance premiums to employers?Let's face it, here in the U.S. the medical insurance premiums for group health coverage is rising faster than inflation. As a result, a lot of companies are either reducing the levels of coverage in order to offset the cost of insurance, increasing the deductible, and or increasing the cost to the employees for the insurance premiums.
The problem is that insurance companies have no incentive to reduce insurance premiums. They continue to get record profits and this issue is out of control.
How do we get the insurance companies to decrease insurance premiums to the rate of inflation, or better yet, start reducing the cost of premiums for a change?
Related Post
Tags: Auto Insurance, business opportunity, california, commercial insurance, Higher, insurance, legal insurance, prepaid legal services, property insurance, Real Estate, runright insurance
Posted in insurance | Comments (18)
July 2nd, 2010 at 12:06 am
You definitely need insurance. Suppose you're in an accident. Fixing a simple fender-bender can cost thousands of dollars. If the accident happens to be your fault, and another person is injured, you're responsible to pay their medical bills. For a serious injury, that could be hundreds of thousands of dollars. You could never afford it!
Any insurance agent can explain the different types of coverage. My family has checked rates, and has always done well with State Farm. A lot of people like AllState and Geico too. Definitely, get insured before you drive *any* car.
July 2nd, 2010 at 1:12 am
You don't have to have health insurance to get a check-up.
Just like you said, car insurance doesn't pay for oil changes, but YOU have to pay for it, maybe $25.00. But if you get a complete check-up on your car, such as computer anaylsis, you may have to pay $150.00 – $600.00. The oil change and computer analysis on my car costs close to $600. I think you can get a physical check-up for less than that. If you don't have insurance, YOU have to pay for it.
Healthcare is very expensive. Here are some of the reasons:
Doctors and hospitals have to be insured with medical malpractice insurance. For a specialist, that coverage could cost as much or more than $100,000 per year. The hospitals medical malpractice insurance is greater than that; in the millions.
Doctors have to earn a good living just to pay the insurance, in addition to their living expenses, student loans, etc.
All the technical instruments that hospitals and doctors use are very expensive in this day and age of technology. Some are valued in the millions of dollars. Somebody has to pay for those.
Some medications are extremely expensive.
I'm a cancer patient. So far my medical bills are nearing $750,000. My chemo treatments are over $20,000 per month. Thank God for insurance.
Remember, this is not the 70's and 80's, so doctors and hospitals are not using 70's and 80's technology.
BTW, an oil change in the 70's was about $6.00.
July 2nd, 2010 at 6:40 am
YES we need health insurance companies, and NO this is not how to bring the costs down. Under this logic, why would we need auto insurance? If you cause a wreck, you'll just have to pay the other party and pay to repair your car, or you'll just have to declare bankruptcy and walk. Why do we need life insurance? Save enough money while you're alive, or let your family become destitute after you're gone. After all, you're dead – what do you care?
Insurance is designed to prevent people from having to incur unforeseen expenses. Who PLANS to develop cancer, MS, diabetes, heart disease, Crone's disease? These can be VERY expensive. A 30-day supply of weekly Avonex injections (4 total) for MS is $6,000. That's $72,000 per year, or more than most individuals or families earn in that time. Does that mean that only the extremely wealthy "deserve" to survive catastrophic or chronic illnesses? And the rest of us will just die off? But then who will clean the toilets and make the meals for the wealthy?
Edit to add:
The reason we don't have insurance plans for "auto repair, Christmas, and college educations" is that Christmas and college educations are foreseeable expenses. Christmas comes at the same time every year; and if you have a child, you know that in 18 years, the child may be going to college. As for auto repair, while some of those expenses may be unforeseen, if you maintain your car regularly (i.e., routine services and oil chances), you can greatly reduce the chance of having "catastrophic" auto repair costs.
Insurance companies may be one of the wealthiest businesses going, but they provide a service that's valuable to most Americans. They have to weigh risk vs. benefit. While some people may never have to utilize the insurance they pay for, they know it IS there if they need it, and the premiums they pay go towards the benefits that may be paid towards another insured who does need it.
July 1st, 2010 at 11:42 pm
hes a genius
July 1st, 2010 at 11:58 pm
@photofox1985 it was a funny video lol he’s not actually whining he is playing the part dumb fuckin nigger
July 2nd, 2010 at 1:14 am
-*sigh* why are your friends jealou-
-’Cause my penis is so huge.
lol favorite part
July 2nd, 2010 at 3:44 pm
Aleferny: did you read the post at all before you replied? He's in favor of checkups and oil changes. He just thinks they should be paid for out of pocket because it would lower the cost for everyone. I really believe the average person would end up saving money if they went with a plan like this because his or her premiums would decrease by more than the cost of the annual checkups and the occasional sick visit.
July 2nd, 2010 at 10:52 pm
Here’s a simple solution, get a quote.
July 3rd, 2010 at 7:16 am
Home owners insurance protects and pays:
You if your house is damaged and needs to be rebuilt.
People that get hurt in your home.
Covers your personal belongings if your house is in a fire for instance.
There are many other coverages but its just like auto insurance, only you are insuring your house.
Hope this helps.
July 3rd, 2010 at 8:12 am
HE may have "agreed" that – but it doesn't mean that his insurer will agree to it. The final decision isn't up to him. You are SUPPOSED to notify your insurer of any accident regardless of who is at fault. Then let your insurer handle it.
July 3rd, 2010 at 6:58 am
loooooooooooooooooooooolo
July 3rd, 2010 at 2:07 pm
Look at it this way,
Better to be safe, than sorry.
July 3rd, 2010 at 8:27 pm
Lmao. Brilliant.
July 3rd, 2010 at 9:47 pm
lolololololool
July 4th, 2010 at 1:41 am
bit . ly/aJFEMi
Saving money with InsureMyCar4Less is simple. After you fill out our quick online form, you get free auto insurance quotes from the best providers in the industry. They compete for your business, and you save money.
bit . ly/aJFEMi
July 4th, 2010 at 11:16 am
Awsome! best vid yet!
July 4th, 2010 at 11:45 pm
its not a MUST but..get it..i mean if your apartment or where you live burns down or someone breaks it, or someone gets hurt in ur place, or you lose everything..it will cover your stuff..but if you dotn have it your screwed..i had renters insurance and paid 14 bucks a month..its worth it
July 4th, 2010 at 9:49 pm
If i saw this retard at costco one day I would kick his ass for being so Faking rAtarded! EVERYONE pays insurance get over it you pussy