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8 Questions to Ask When You Buy Disability Insurance

Disability insurance is among the most valuable, and most frequently skipped, forms of insurance, endorsed by financial experts like Dave Ramsey and insurance consultants like Courtney Rogers. Like all other forms of insurance, though, not all policies are created equal. When shopping for disability insurance to protect your family, ask and answer these eight questions.

1.       Can I Get a Group Policy?

Employers, labor unions and trade associations are just three of many memberships that can get you access to a discounted disability policy. Assuming the details of coverage match your needs, this can mean cutting your premium payments by 50% or more.

2.       What is the Company’s Reputation?

Although insurance regulation has increased significantly in the past couple of decades, not all insurance companies are willing to pay out claims on the time frame you need disability insurance to happen. Check out the company online, with referrals from happy customers, and with a watchdog rating group like AM Best. You may have to pay a slightly higher premium to work with a good company, but it’s worth it.

3.       What Conditions are Excluded From Coverage?

All disability insurance policies will name forms or causes of disability for which they won’t pay out, for example most won’t pay if you get injured while on drugs or committing a felony. Others might exclude specific events or illnesses common to your profession. Find out what’s excluded and make the best informed decision you can.

4.       What Percentage is the Payout?

Although some policies will pay out a flat amount spelled out in the policy, most will instead pay a percentage of your income. Find out what that is, and how they determine what your “income” is. This is especially important if you are self-employed and your income fluctuates from month to month.

5.       What is the Length of the Payout Term?

Some disability policies will potentially pay benefits for the rest of your working life – up to age 65 or so. Others will limit benefits to three years or another set term. Which kind of payout term you get is a balance between protection and affordability. Just be sure you know before paying the first premium.

6.       How is “Disability” Defined?

Some policies are inexpensive in exchange for an unreasonably limitingdefinition of “disability.”  Others have complex and restrictive procedures for proving you’ve become disabled. Review the definition of disabled in your policy.

7.       Does it Cover Partial Disability?

A policy might pay benefits only if you are unable to work at any job, even one that pays substantially less than your chosen career. Others pay nothing if your disability makes you able to work only part time. If you can afford it at all, get policies that cover lost income from being unable to work in your field, and partial disability payouts. Both situations are far more common than a total disability.

8.       When Does the Policy Begin to Pay Benefits?

Every policy has a gap between when you become disabled and when the benefits “kick in.” Short-term disability insurance typically has a waiting period of days or weeks after your sick leave ends, with long-term coverage typically taking weeks or a couple of months. This is a factor you can skimp on, paying a lower premium for a longer waiting period. Just be sure to set up your financial planning and emergency fund to reflect the period you pay for.


Comparison of Online Car Insurance Quotes By Useful Smartphone Apps

A lot of individuals wish to buy a new policy for car insurance or want to replace the existing policy with a new one. If you are one of them, then you can do it easily by comparing the quotes online with the help of your laptop. A lot of iPhone apps are available online for the quote programs, through which you will be able to compare several companies with each other. Every now and then, you can also use the downloadable iPhone apps for comparing the car policy rates. There are numerous advantages for finding the cheapest insurance so as to save money, and searching the web is the best way to do so. 

Effective search process 

A lot of iPhone apps can be downloaded without any difficulty in order to compare the car insurance quotes, and you can do it effectively by means of online websites. A lot of insurance companies possess their individual apps so that you can find the quotes, make the payment online, and change or manage the policies. Now, you will be able to search the quotes with the help of your Smartphone at any time, and at any place. Thus, this process is an effective and convenient method that will save you money and time to a large extent. If you visit the insurance company online, then you need to search the appropriate areas to compare the car insurance quotes.  

Value of technology 

A lot of websites of car insurance consist of a downlo ad section, where you will be able to add the apps directly on your iPhone. You can also search the various downloadable applications for finding the Smartphone apps, particularly with the online car insurance companies. You will need the car insurance for driving and owning a car. But you might not be aware of the appropriate car insurance policies for your requirement. Luckily, the technology has helped a lot in this matter. A lot of apps are designed that will assist you to make a refined assessment of your car insurance requirements. The various Smartphone apps offer precise information regarding the insurance products. It will also provide suggestions on the insurance products that you should get. 


Nationwide Insurance launched this useful Smartphone app in the year 2009. With the help of this app, you can get access to various useful and valuable features that can be used by the Nationwide clients, as well as the car buyers, for their benefit. This app can be used without any difficulty. You have to enter the VIN of your vehicle, and then you will receive the Autocheck history score that is delivered by the Experian Automotive. Obviously, you will be able to get the free auto insurance quotes that are offered by the Nationwide Insurance. 

At the time of comparing the car insurance prices on your Smartphone, you need to be aware of the regulations and standards of each and every company. The car insurance quotes that are inexpensive can save your money, but you will also have to check the payments and rates that will be beneficial for you eventually. 

Author Bio: 

This post is by Sachin. He is a full time writer and a blogger. He loves to write on different and interesting topics. He has written many posts on car insurance as well as mobile phone insurance. mobile phone insurance offers you easy and affordable insurance for your mobile phones and makes your experience and usage ever better. 


4 Little-Known Benefits of Disability Insurance

Financial experts like debt guru Dave Ramsey and insurance advisor Courtney Rogers agree that only a few kinds of insurance are truly necessary. These include

  • Term life (while you’re working)
  • Homeowner’s (for any time you own a home)
  • Auto (required by law, according to David W. Lipcon)
  • Disability (while you’re working)

Of these four, statistics show that disability insurance is the one missing from most homes. It might be that this insurance gets less attention in the media. It might be that people don’t understand the risk. Whatever the reason, those who are “working without a net” in regards to this important protection should consider these little-known benefits of disability insurance.

  1. 1.       Faster Recovery

This is a simple equation. Stress reduces the body’s ability to heal from illness and injury. Being out of work from a disability causes financial stress. If you’re hurt or ill with no income, your body can’t get you back to work as quickly as it would if you were getting paid. Being disabled without income also makes it harder to pay medical expenses, which can further increase how long it takes to get well. Alright, there is a chance to financially cover expenses, if an accident happened at your work place – go here for details.

  1. 2.       Return on Investment

Disability insurance premiums cost 10 percent or less the price of term life insurance. Further, you’re more likely to need it at some point in your life than to make a claim on your life insurance – and you’re infinitely more likely to need it more than once. Statistics show only auto insurance is more likely to result in a payout to you, and disability runs at about one-fifth the price of average auto coverage.

  1. 3.       Reduced Family Illness

While you’re down, it’s important for your family to operate at peak ability to take up the slack. Unfortunately, lack of sleep and worry about you make them more likely to become ill than at any other time in your life. Though the payments from disability insurance won’t end all of their stress, not having to worry about money will help their immune systems – and help pay for preventive care that will keep most illnesses minor.

  1. 4.       Enhanced Estate

If you want to leave a little something behind for your heirs, a long disability is one of the best ways to ruin that plan. The lost wages can force you to live off of savings, then borrow off of home equity, and dip into retirement funds until nothing is left to leave.  Although disability insurance won’t pay for the costs associated with hospice or in-home care, it will keep wages coming in while you’re ill.

Any horror stories about losing wages from illness or injury? Join the conversation and tell us about them below. 


Why You Have to Claim Back Your PPI

Stories about Payment Protection Insurance (PPI) are everywhere we look now. We are repeatedly told about how it is quick and easy to make a claim with phrases like ‘hassle free’ and ‘no win, no fee’ bandied about regularly. Many people simply ignore the waves of TV, radio and newspaper advertisements about PPI however, thinking it is just the latest scam or believing that, like with most easy money pay-outs, it would not apply to them.

PPI applies to more of us than you might think however and the reason there are so many success stories stems from the fact that it honestly can be as easy as the adverts make it sound to claim back hundreds – and more commonly thousands – in money that rightfully belongs to you.

What Is PPI?

The reason why many people choose to ignore the news about PPI is that they do not understand what it is and so think it will likely be confusing and of no interest or relevance to them. It is however, fairly straight forward.

PPI is a type of insurance that is sometimes added to payments when you are borrowing money – like with a loan, mortgage or credit card. It was introduced as a means to ensure that payments could continue to be upheld should the recipient suddenly be unable to work through illness or unexpected redundancy.

Why so many Complaints?

On paper, PPI sounds like a good thing; so you may ask why so many people have been complaining and claiming their money back.

Well, it recently emerged that many banks had been charging people for PPI without telling them.  Having been mis-sold, people had been paying for months – sometimes even years – for insurance that they either did not want, need or even know about. The issue become far less about the benefits of having PPI and more about the dishonesty of the banks.

Why would it be Relevant to Me?

While for some it was that they had been told the PPI policy was compulsory and for others it was that their policy failed to provide them with adequate cover; the very fact that the majority of people who were forging complaints and claiming a refund were people who had never intentionally bought PPI is what makes it so important to claim.

Banks have wrongfully taken millions from the pockets of unsuspecting consumers and this is why it is relevant to everyone. Almost any one of us could have been mis-sold PPI but we just do not know about it yet. Checking your policy or monthly bills could well reveal that they have been taking an additional payment from you in order to provide you with this unwanted PPI cover.

Why Should I try and Claim?

Last year, more people than ever went to the ombudsmen to complain about PPI. A free service designed to solve financial disagreements; they have been inundated with people hoping to be refunded the huge sums of money that their banks have taken from them without prior permission.

This in itself is why you too should make a claim if you believe you are a victim of mis-sold PPI. Taking money from consumers without their consent is essentially stealing. Sitting back and allowing them to get away with it when you have been wronged sends out the message that they could get away with a similar scheme in the future. If everyone who had money wrongfully taken were to make a claim – be it individually or by seeking help from a professional claims service – we can collectively make a stand against the poor judgement and unfair actions of the banks. Not only will we be reimbursed what is rightfully ours but we show the banks that we will not allow them to take advantage of their customers anymore.


Bike Insurance is a Must for All the Bike Owners

Amongst various methods of protecting bicycle, one is bike insurance. The insurance cover for the bike is an important step towards the security of one`s beloved vehicle. One of the main reasons of road bike insurance is that one cannot find an alternate means of transportation which is so economical in case ones bicycle gets damaged.  A  bike is one of the ultimate means of transportation as it does not demands any sort of extra expenses to be incurred over it. Resultantly more and more people are embracing bicycles for moving from one place to another.

Road bike insurance is the only way to provide one with the certainty of its protection. Some of the State laws have also turned it mandatory to get the private vehicles insured. The law specifies the cancellation of license if one fails to get the bike insured.  Bike insurances are of various types. They differ from country to country.  Bike insurance is also subject to various factors. Before opting for any insurance cover, one must comprehend that how the insurance premium is calculated and how to attain an eminent bicycle insurance cover which is within budget.

The policies of the companies mainly vary as per the protection they need to bestow upon the vehicle. One of the most common types of restriction is that the vehicle will be given a smaller amount of claim in case it happens to get damaged at some other place. Thus if one wants to get ones bike fully secured then one must opt for an appropriate insurance cover before visiting any place. The amount to be paid for such insurance cover solely depends on time type of services opted

 The premium also depends upon the accessories of the bike and its age. For instance, a ten year old bike will be insured by considering the depreciated value of the bike in ten years. Thus it is clear, that the premium which needs to be paid by the insurer basically depends upon the amount of risk involved.  A higher amount of premium is required to be paid for the bike which is exposed to higher risk. Before getting ones bike insured one should take the photo of the bike with all the accessories present over it. A two-wheeler can cost one with thousand dollars since the high-tech models available in the market are very high in prices. One should opt for the best policy to protect the vehicle even if it is little expensive.

The companies avail various reasonably priced insurance covers for the bike.  A Quality insurance cover can be obtained without compromising with the quality. For example one can choose for the medical cover along with the damage compensation. Such policy shall serve one in a dual manner. Firstly any damage done to the bike shall be compensated by the company and secondly, all the medical expenses shall be borne by the company if the customer meets with an accident while riding the insured bike.