Life Insurance ? Wise Investment In Personal Finance Or Excessive Caution?
Life insurance is typically taken out to offer valuable financial protection for your family in the event of your death, upon which a payment is made to your financial beneficiaries, heirs or family members.
The extent of this payment will depend on your insured sum and earnings.
Life insurance and life assurance may be interlinked in advertisements, though bear in mind the two policies are different.
Life assurance is a form of financial protection which is also an investment, as you should always get a pay-out at the end of the term of the policy.
Life insurance on the other hand is simply financial protection for your family, avoiding the issue of debt in the event of your death.According to an article by the Fair Investment Company, the British life insurance industry shrank to almost half the size of the pensions industry last year and according to the Association of British Insurers, less than 50% of UK households hold a life insurance policy.In their most recent newsletter about this issue, the Association of British Insurers found that 25% of mortgage holders had insufficient life insurance to cover their debt.
The ratio of new life insurance policies to new mortgage loans was apparently 68% in 1994, but by 2004 this had dropped by half to 33%.The absence of mortgage life coverage poses a serious risk for the dependants of homeowners.
If banks were to embark on wide scale repossessions as a result of this absence of life insurance, this would impose a risk on their loan books and reputations.
The Association of British Insurers also state that one of the main reasons behind the increased gap between mortgage loans and insurance is the emergence of people remortgaging their property to take advantage of equity release through a rise in value, without insuring their borrowing.
In their report it was stated that around 63% of new mortgage loans were remortgages or further advances, compared to 34% in 1994.
Egg reported at around the same time, that three out of four of these new loan homeowners had no intention of insuring this additional debt.
This is particularly worrying if couples are remortgaging their property later in life ? towards retirement, given that should anything happen to the breadwinner, the partner would be left with significant debts without the capability of paying the loan back.Reasons for the downward trend in life insurance take-up include:
- Relaxation in lending policy ? increased competition in the mortgage market means that lenders are not forcing life insurance policies on their customers
- High house prices have stretched homebuyers, in particular first time home-buyers, in terms of their mortgage repayments, that the additional costs of a life insurance policy are deemed too expensive
- There are more households with no dependents
UK websites such as moneynet ( http://www.moneynet.co.uk ) provide life insurance and life assurance information guides, as well as providing price comparison research for the different products.
In the states, the website LowerMyBills.com also offers a similar service.Because of the various factors listed above, people have also become less familiar with the term life insurance and without the awareness there is little recognition of the importance of this type of insurance.
However as speculation increases that UK households are not coping with their debt, so should the awareness of life insurance as an essential product in the personal finance portfolio.. Rachel writes for the personal finance blog Cashzilla:http://www.cashzilla.co.uk Rachel is a disillusioned, disaffected and broke graduate, exploiting new media for financial therapy.E-mail: rachel@positiveinterest.com or online@moneynet.co.ukPhone: 0131 561 2251
What is Home Insurance?
Home Insurance is designed to provide you with financial protection against any damage and possible risks that your property and possessions within it may face against unforeseen events and circumstances. Home insurance is commonly taken to describe both buildings insurance, which insures the fabric of your property, and contents insurance, which covers your belongings. Basically it is a contract you make with an insurance company. You have to pay a premium and in return the insurance company will pay for financial losses that are related to your property or your home during the period of the contract. Home insurance, also known as Household insurance or Buildings and Contents insurance, provides protection against loss or damage of your property.
Protecting this investment against fire, flood, theft and other risks is essential to ensure that you have the necessary financial assistance available, so that you can carry on with life. Home or household insurance is designed to protect...
What is Home Insurance?
Insurance > What is Home Insurance?
Meadowbrook Insurance Group selects Adeptia to deploy automated integration with business partners
Chicago, IL
September 29th, 2004 ? Adeptia Inc., an innovative provider of business process integration technologies, today announced successful deployment of its business process management (BPM) product at Meadowbrook Insurance Group, a leader of Alternative Risk Solutions.Meadowbrook has selected Adeptia as the technology for its enterprise-wide integration strategy.
Deployment of Adeptia business process integration server allows Meadowbrook to easily and quickly setup automated data exchange with its business partners - without the need to develop and deploy custom data integration interfaces that often require extensive manual data entry."We are impressed by Adeptia's ability to implement complex integrations with external partners in an easy and effective manner.
We are happy about our decision to deploy Adeptia, which is a perfect solution to address our needs.
Adeptia's solution enables reuse of existing interfaces in future integrations and...
Insurance > Meadowbrook Insurance Group selects Adeptia to deploy automated integration with business partners
Insurance Agents: Separate yourselves from the crowd
In today's world of direct writers, internet quotes and discount insurance companies, it is easy to get lost in the hustle and bustle of being an insurance agent. We insurance agents, while not quite threatened by extinction, are becoming nothing more than glorified order takers.Warren Buffet says that insurance is a commodity and price is the main factor in the market place. It seems that nowadays, lowest price wins, regardless of the other factors. More and more people are turning to direct writers because they believe that 15 minutes and a catchy commercial with a dancing lizard can save them some money. Forget the relationship, forget being able to actually see your insurance agent and forget you if you are $0.01 higher than the "other" guy.So how do we as insurance agents take a stand and be able take back some of our customers? How do we improve our close ratio? How do we change our customers' attitudes about price to the point that leaving you for a few dollars will never cross...
Insurance Agents: Separate yourselves from the crowd
Insurance > Insurance Agents: Separate yourselves from the crowd
Pay as You Drive Car Insurance- a Win-Win Proposition
You can pay as you talk with a cell phone plan, so why not pay as you drive auto insurance? It sounds like a good idea; but would pay as you drive auto insurance work for you?The idea behind pay as you drive auto insurance is simple. Basically its this- if you do not drive very much, you will not pay high insurance premiums. Advocates for this type of insurance policy think that there are many merits to this type of program.What if you car pool to work, or take public transit? You are not using your car very much so why are you paying high premiums. With a pay as you drive auto insurance premiums you would be able to quite literally pay as you go. Another situation where this plan would be of benefit is that of many retirees who have winter homes in temperate climates, the 'snowbirds' living in Florida or Arizona six months of the year and six months in New York or Toronto for example.
Essentially the insurance companies would set an average driving amount for each car type. It...
Pay as You Drive Car Insurance- a Win-Win Proposition
Insurance > Pay as You Drive Car Insurance- a Win-Win Proposition
Is Renters' Insurance Really Necessary?
You and your landlord share a common goal: You both want to ensure the protection of your interests. Obtaining a security deposit from you -- usually ranging from $100 to a full month's rent, and averaging $250 -- is how your landlord obtains a degree of insurance from you. The deposit covers your landlord should you cause any damage to your apartment while you are a tenant. Your landlord, in turn, may keep the deposit if you fail to pay your rent or you leave before the end of your lease. However, if, as a tenant, you keep your end of the bargain -- following the terms of your lease and leaving your apartment in good condition when you leave -- the deposit is refundable.So how do you protect your own interests as a tenant? Renters' insurance.
If you're an apartment-dweller, you're probably accustomed to brochures dangling from your door that advertise various renters' insurance policies. And if you're like many renters, you probably disregard them. But you may want to consider...
Is Renters' Insurance Really Necessary?
Insurance > Is Renters' Insurance Really Necessary?
Innovation In Online Jobs Search. Niche Publishers Leading the way
(ContentDesk) March 25, 2006 -- Niche jobs board InsuranceJobsBoard.com the Jobs Portal dedicated to the Insurance and Financial Services sector today announced the launch of its industry specific job search tool bar. This new innovation allows jobs seekers direct access to the site from anywhere in the web and links straight into the search functionality enabling direct and proactive search of the 1000s of vacancies currently advertised.Additionally the toolbar functionality features access to job seeker resources such as google search, live industry news, google & yahoo finance, rss feeds and industry blogs. It's an entirely free download, with no spyware or viruses, does not open pop-ups or hijack
searches, and no personal information is required for installation. User trials conducted via jobseekers and advertisers registered with the site have found it to be a superb tool to assist in their job seeking activities and account management.Commenting on the launch of this new...
Insurance > Innovation In Online Jobs Search. Niche Publishers Leading the way
Who Else Wants Low Cost Auto Insurance?
Copyright 2005 Dean Shainin
Those TV commercials featuring happy customers who saved money and got low cost auto insurance aren't just hype. After many years of rate increases and premiums, the cost of auto insurance is finally starting to come down. But auto insurance companies are still choosy about who can get a break on their insurance costs.
It is wise to start with your current auto insurance company to make sure you're paying as little as possible for your premium.
The next step is to consider other ways to get low cost auto insurance and the discounts you can take advantage of.
Effective Ways To Get Low Cost Auto Insurance
* Buy A Safer Vehicle. Premiums for collision and comprehensive coverage depend on accident and theft claims and the costs of repairing your vehicle. The more expensive the vehicle, the more you will pay.
Buying a safer car can help you get low cost auto insurance. Simply look into vehicle...
Who Else Wants Low Cost Auto Insurance?
Insurance > Who Else Wants Low Cost Auto Insurance?
Discount Shipping Insurance (DSI) Offers Instant Cargo Insurance Coverage
Tarzana, CA (ContentDesk) June 13, 2006 -- Discount Shipping Insurance (DSI), the leading provider of 3rd party shipping insurance, has added cargo insurance coverage to their online instant policy program. Users can visit www.dsiinsurance.com to purchase immediate cargo trip policies using their credit card for individual shipments while in transit with the major shipping carriers. Covered carriers include Roadway, R & L, SAIA, Watkins, and the thousands of other common LTL carriers.DSI has always offered open parcel and cargo coverage to the frequent shipper, but the need exists for covering the individual large, heavyweight freight shipment without obtaining an open policy. Through the DSI website, www.dsiinsurance.com, users can purchase full coverage for their cargo shipments that are sent within the U.S.A. and Canada.
Whether you are sending a piano to a relative...
Discount Shipping Insurance (DSI) Offers Instant Cargo Insurance Coverage
Insurance > Discount Shipping Insurance (DSI) Offers Instant Cargo Insurance Coverage
Dynamic New Boutique Hotel Sales and Catering Software from IntrDynamic Systems and Kerry Hotels Inc.
Los Angeles, California (ContentDesk) April 19, 2006 -- In the summer of 2005 after being introduced to the robust features of IntraMax a sales and catering system developed by IntraDynamic Systems, an innovative new hospitality software company focused on the needs of boutique hotels, Kerry Flowers, owner of Kerry Hotels approached IntraDynamic Systems to custom create a version of the software to assist his team with all aspects of their frenetic corporate operation. After conducting an in...
Insurance Life Insurance ? Wise Investment In Personal Finance Or Excessive Caution?
Insurance > Dynamic New Boutique Hotel Sales and Catering Software from IntrDynamic Systems and Kerry Hotels Inc.
Make Extra Spending Money in time For Holiday Shopping
With the holidays just a few short months away, now is the time to try to get extra cash to spend on your friends, family and maybe even youself. You'll hear all over the news to try and NOT use your credit cards, as interest rates will kill you later. It can be so hard to decide how much to spend on people, and what you can afford without going broke doing it. So what can you do, in order to make that extra money you may need for the holidays? Follow our tips below to help you find that "hidden"...
Insurance
Insurance > Make Extra Spending Money in time For Holiday Shopping
Happy Birthday to You!
With so many choices, it's almost impossible not to find a great birthday gift basket for anyone. For her there are spa gift baskets, full of luxurious lotions and bubble bath. For him there are fishing gift baskets, baseball gift baskets, and even golf gift baskets.Birthday gift baskets are often full of goodies and treats and often contain a special centerpiece item such as a Teddy bear, picture frame, or lotions and soaps. Try to choose something that reflects the personality of the recipient....
Insurance Life Insurance ? Wise Investment In Personal Finance Or Excessive Caution?
Insurance > Happy Birthday to You!
United Power Deploys TruckMap*? Field Solutions
United Power, a Touchstone Energy partner, is a rapidly growing electric co-op. Field crews use the new TruckMap* Field Information System? for rapid data retrieval and field updates, ensuring that workers have current information regarding the status of facilities and 45,000 customers. All TruckMap* users now have current operating information regardless of their location."After reviewing several platform providers, we chose har*GIS for their ability to rapidly demonstrate the capabilities...
electric generator Insurance
Insurance > United Power Deploys TruckMap*? Field Solutions
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