Category / Insurance

Insurance

Gain Financial Flexibility with 12 Month Loans

How many times have you found yourself in a situation where you are pining for something so dearly but your financial position at that time just doesn’t allow you to do anything about it? Suppose you’ve been eyeing that bag or shoe, or running watch, and just for a week it went on sale; the bad part is that had it been on sale a week before or a week after, you would have been in the perfect position to snap it. But right now, you just can’t. How unfortunate! 

Yes, you are not alone in that predicament. Two many times have we decided to put off our wants and needs simply because our wallet or bank account was less cooperative, or that the timing wasn’t perfect. The same can be said of emergencies when we are thrust into situations that require considerable spending and yet we are not capable of meeting the need head-on because the timing was off. 

This is where 12 month loans would come in handy. Twelve month loans are loans that you take today and will be payable within a year’s time in 12 monthly increments. Finally, a great way to meet your immediate financial needs without being burdened by the responsibility of having to pay all of it back in one lump sum at a relatively short period of time. It’s the perfect way to improve your financial position in the interim without compromising your ledger a month after. 

When looking for the best 12 month loans, you can actually do all the necessary research and application online. There are many that offer quick approval with immediate withdrawal deposited to your bank account. Payments are likewise pain-free as these can be automatically programmed to make monthly debits from a pre-determined account. In short, you will only need to accomplish the forms during the application stage and you are left with little to worry about afterwards. 

Overcome your financial difficulties today by availing of 12-month loans and intelligently using these to improve your situation without crippling your ability to spend because of one big payment that is due. Twelve month loans undoubtedly give you the control that you need to live your life, meet your needs, confront emergencies and other sudden situations without having to worry that you are not financially prepared to deal with it. Take the reigns and gain the ability to spend based on the need. With 12 month loans, you are never too far away from being financially prepared to deal with anything and everything coming from you. 

Gain financial flexibility today with 12 month loans and do away with all the worrying. With 12 month loans, your road to financial flexibility begins today. 

Insurance

When The Services Of A Personal Injury Lawyer Are Necessary

Sometimes life is not always fair. You will get yourself in situations where you will feel unjustly treated and you may just want to let it go. However, there are situations where the damage is more than just to your feelings. The person may cause you serious harm either due to negligent action or intentionally. In such situation, you can be sure that you will suffer broken bones, and other serious injuries.

When this happens, you may not be sure what to do. In some cases, the law does not view the actions of the other party criminal and will not pursue the matter further. There are many other situations where you may also be at a loss. The good news is that you do not need to deal with this alone.

You can seek legal services that will help you to get over the dark moment of your life. A personal injury lawyer is the best placed person to help you make legal sense of your situation and to help you set the ball rolling in order to receive the help you need. There are many situations where you can seek this service. Some of them include:

  • Auto Accidents

When involved in an accident, you may suffer from serious injuries that may hinder your work. The aftermath of the accident can see you unable to go back to the same quality of life you had before.  A personal injury lawyer will help you get the compensation that will adequately cover your needs, then and in future. You will therefore cover for medical expenses even those that come up in future. You will also have to focus on healing, as you will receive compensation for the days you will be out of work.

  • Wrongful Death Claims

Losing a loved one due to someone else’s action can be unfair to say the least. A personal injury lawyer will help you get compensation that will cover the distress, the loss of income and other losses that you may experience. The purpose of this case is however not money, but it helps to bring to account the party responsible for the death of your loved one.

  • Work Related Injuries

Getting injured at work can see you get into more problems as you are no longer able to work. A personal injury lawyer will ensure that you get the right treatment. You get adequate compensation to cater for any expenses that may arise such as medical. You will also get compensation for loss of income. You should therefore not suffer in silence but let the lawyer get you what you deserve by law to get from your employer.

Other issues that personal injury lawyers cover include premises liability, product liability claims, construction accidents, truck accidents and car wreck. Talk to a personal injury lawyer and see how you can get the help you need as you may be suffering while you can get the help you need. You will get a legal recourse for all your troubles.

 

Bio

Lisa Brown works for a legal firm dealing with various legal issues. She has written many legal related articles. She advises that, one should seek legal services, as this provides a solution to many problems one may be facing.

Insurance

A Guide to Finding the Ultimate Home Insurance Deal

Home insurance: everybody needs it to protect their property should disaster strike. If you don’t have it, you’re taking a massive risk. Nobody wants to believe that they would fall victim of a robbery, fire, or flood, but it can happen to anyone. This means you need to find the ultimate home insurance deal to suit your needs. How can you do it? Read on to find out:

Home insurance

photo source: Flickr

Use Comparison Sites

Comparison sites are great when it comes to searching for the best possible deals. They’ll compare hundreds of different sites to show you the cheapest deals. However, you should bear in mind that you aren’t always going to be comparing like with like. Many policies will have different features, so take those into account and not just the price before you decide on the best deal.

Make Sure It’s the Right Level of Cover

Again, the right level of cover is essential if you want the ultimate home insurance deal. There’s no point buying the cheapest cover you can find if it doesn’t suit your home life. For example, you may need to get specialist cover to suit certain items as well as regular cover. Don’t just assume that all of your valuables will be covered!

Check Individual Insurance Companies

Some individual insurance companies aren’t included on comparison sites, for whatever reason. Make sure you check these out separately and do a little bit of comparing yourself.

Increase Security in Your Home

As well as hunting for the best deal, you can ensure your home is a low risk to get a cheaper price. By increasing the security in your home, you might find that your home insurance premiums drop. You could install security lighting, join your neighborhood watch, and get special locks on the doors and windows.

Pay A Higher Excess

If you think you can afford it, you could pay a higher excess. The excess is the amount you’ll pay first if something does go wrong. Be prepared to pay this amount if there’s a disaster in your home…would you rather pay a £250 excess, or a £1000 excess? Make sure it’s a price you can afford.

Pay for the Year

Monthly premiums nearly always cost more than their annual counterparts. See if paying your fee off yearly would save you a lot of money. A few insurers do actually allow you to pay monthly without the extra interest on top, so it makes sense to look around before deciding.

You don’t want to take a risk when it comes to insuring your home and your belongings. There are all different kinds of home insurance too, so make sure you do your research. It’s also worth remembering that there is a 14 day cooling off period where you are allowed to cancel, but you may be charged for the service you have already received.

Using these tips will leave you with a home insurance deal that covers you adequately but doesn’t cost you the earth. Happy hunting!

 

Insurance

Falling Through the Gaps in Obamacare

There was a time when health insurance was only available to people with money and/or with jobs that offered affordable insurance coverage. Today, thanks to the Affordable Care Act, aka Obamacare, more people are able to afford the coverage they need.

Furthermore, many of those people are also getting coverage for things that had previously been left out of insurance policies, such as drug and alcohol treatment services.

In fact, according the ACA, substance abuse and mental health services are considered essential care for which insurance companies are required to provide coverage. There are also rehab centers that are aware of this, and can help people navigate the new insurance rules to get the help they need. (1)

However, although the Affordable Care Act has made it possible for millions of the poor and self-employed to get affordable health insurance, there are still those who fall through the cracks.

Falling Through the Cracks

When the Affordable Care Act was first introduced, there were provisions to expand Medicaid coverage to individuals who would be too poor to qualify for the subsidy, but not poor enough to normally qualify for Medicaid. The Supreme Court ruled that requiring states to expand Medicaid was unconstitutional, and the states were given the option to opt out – several states took that option.

As of this writing (2), 28 states and the District of Columbia have expanded their Medicaid coverage, three states are considering expansion, and 19 states have no plans to expand. This means that the millions of poor living in the states without Medicaid expansion will continue to fall through the cracks.

What the Obamacare Medicaid Provision Means

Prior to the Affordable Care Act, there were millions of working poor: people who had jobs – sometimes multiple jobs – that paid a subsistence wage. Additionally, many of these jobs did not provide health insurance. However, although they could be classified as poor, their jobs paid just enough they there were above the poverty line. (3)

With the Medicaid expansion in the Affordable Care Act, the working poor under age 65 could qualify for Medicaid if they are at or below 138 percent of the poverty line. That means a single person, without kids, could make up to $15,857 per year, and a family of four cold make $29,700 per year. Those who make more than that would qualify for a subsidy if they apply for insurance through the marketplace.

The Federal government would have funded the expansion 100 percent the first year, meaning the funds would not have come out of the State’s coffers. Additionally, the federal government would have continue to fund 90 percent for the remaining years, meaning the expansion still would have been of very little cost to the states that participated.

Yet, 22 states refused to expand and, as a result, those millions of working poor fell through that gap that would have been closed by the expansion.

What the Gap Means

That gap means that individuals who are too poor for the subsidy, but not poor enough for Medicaid will get no coverage at all. Not only will they not have coverage for preventative care that could keep them healthy, such as yearly physicals, mammograms, and pap smears, but they will also not have coverage for the care they need when they are sick.

It also means that individuals with existing conditions, such as chronic diseases or drug and alcohol issues won’t, be able to afford the care they need to get sober.

Options for Care Without Insurance

Community health centers are often the only care option for people who don’t have insurance coverage. Some of these community centers offer everything from vaccinations and other preventative care to care for acute injuries and illnesses. In many cases, they can offer a sliding scale for fees and payment plans.

However, not every community has these types of clinics, and the few clinics that do exist are overcrowded.

For many, emergency rooms are still the first option for people with acute injuries and illnesses, because emergency rooms can’t turn people away. However, when it comes to treating and managing chronic conditions, or mental health issues like drug and alcohol addiction, there are still very few options.

The good news is that more states are looking to expand Medicaid, which means we could get closer to closing that gap and providing affordable coverage for all.

Resources:

1.  The Recovery Village: Insurance

2.  The Advisory Board Company: Where the States Stand on Medicaid Expansion

3.  Healthline: Healthcare Reform: How the Poor Continue to Fall Through the Cracks

Insurance

What should you do if your insurer is in trouble?

insurer

Is it possible to have a highly successful and seemingly profitable insurance provider to be in trouble? YES. A good example is the American International Group (AIG) $85 billion dollar bailout that happened in 2008 where the shaky foundations of the world’s largest insurer caused consumers to go into widespread panic.

Ironic, isn’t it, considering if there’s no ASSURANCE in INSURANCE, then the industry is basically devoid of any substance. Fortunately, insurers do not go bankrupt every other day, so it’s safe to say that you need not bail out of your policy this very moment. 

Reasons why insurers fail

With the existence of so many insurers in the world, it’d be understandable for some people to play the ‘What If’ game. The main question in everyone’s mind is: What IF insurers fail? This is a completely valid question to ask, because it’s happened before. Insurance companies HAVE failed in the past, and it will happen again.

Luckily, there are less insolvent insurers compared to failed financial institution. For example, approximately 700 insurers across the world failed to uphold their business (and their promise to consumers). This happened within the 30 years between the 1970’s to year 2000. Now, compare this number against the 500 financial institutions that went insolvent during the infamous economic crisis of the 1980’s. This figure is applicable to establishments that existed in the United States ALONE. So if you think about it, the low insolvency rate of insurers is pretty encouraging to instill high consumer confidence.

Main reasons why insurers declare insolvency:

  • Underreserving: This is usually caused by poor insurance practices.
  • Lack of insight: Inability to forecast risk of catastrophes will also cause insurers to close up shop.
  • Rapid growth: Too much of a good thing is a bad thing, right? CORRECT. When an insurance company expands too much and too soon using underpricing procedures, it stretches itself thin and pretty soon, causes its own downfall.
  • Fraud: Needless to say, fraudulent activities will cause ANY company to fail. When profitability is manipulated or incompetent management left to run the business, you can be sure that trouble will be brewing very soon. 

What happens when an insurance company goes bankrupt?

Should you hear that your insurer is going bankrupt, don’t panic just yet. Your insurance company may yet be saved by the state Department of Insurance which will decide to put the firm into rehabilitation in order to salvage the situation. If this isn’t possible, they will start the liquidation process.

 You have a guardian angel in the form of your state’s insurance guarantee association. They will do all they can to transfer policies belonging to the insolvent firm to other stable (rival) companies. Policyholders will still enjoy coverage that’s capped up to $300,000. 

Looking for the next best thing?

Should you have the misfortune of having your insurer fail, you should immediately make plans to shop for new coverage. You should have plenty of time before your old policy expires so do take the time and read up on these pointers to make an informed decision regarding which new insurer’s offer to take up.

  • Think about your needs before choosing a new policy. You may be tempted to take on a larger one (thanks to a possibly over-zealous insurance sales rep), but if you assess your needs and financial standing, you should be able to make the right decision and settle on a policy that fits you just right. A cheaper policy won’t provide as much coverage, but it won’t cost you an arm and leg either.
  • Shop around for price quotes. Don’t discount independent agents as they may have their own repertoire of insurance products that fulfill your needs.
  • Before enjoying a payout from your insurer, you must pay an amount called the deductible. Some policies come with higher deductibles, thus lowering your premium, but may not be such a wise choice as more money has to be paid out before your claim will be processed.
  • Contrary to popular thinking, it’s NOT all about the money. An insurance policy may catch your interest with its low premium but what’s even more worth your money is to sign up with a trustworthy insurance company that enjoys excellent financial standing.
  • Don’t be shy in asking for discounts from your sales rep. Some companies may offer discounts at their discretion so do take the initiative to ask if you’re eligible to have your premium lowered. 

Knowing when to quit

They say breaking up is hard to do. Not so, if you’re trying to sever relationship with your insurance company. If you’re not happy with your current insurer, it’s better to throw in the towel early than suffer heartache later. Here are some issues to mull over if you are thinking about switching insurance providers:

–          Are you kept in the dark when you have a question (or a series of questions) to ask? Are your insurance customer service personnel knowledgeable enough to satisfy your curiosity?

–          Does your insurer pay out quickly, or does it take a few angry phone calls to find out what happened to your claims?

–          Do you feel like you’re being short-changed by your insurer? Are their rates way higher than others? 

The conclusion

Let’s face it: finding crystal balls on the shelves of Wal-Mart isn’t as easy as we’d like it to be, so there’s really no way we can find out how to spot insurers that may one day fail to pay out.

The best thing is to only do business with companies that are licensed to sell insurance. It helps to keep yourself informed on the best life insurance companies around. Plus, don’t put all your eggs in one basket. Know when you’re buying a product for protection (insurance) and when you’re paying for investment.