James420's Blog

Auto insurance is now a commodity that goes with your car. Most states in the US require liability auto insurance to answer for the damage caused by the insured to somebody else.

If a claim involves only reimbursement or compensation for vehicle damage, the process may be simple. Insurance companies often based their decision to pay on five things:

1. The information you gave to the insurance company

2. The information the other party gave the insurance company

3. Police report

4. Witnesses testimony

5. Physical damage at the scene of the accident

In a car accident, or any accident for that matter, call 911 in case there is serious injury. When it is not, but there is injury anyway, seek the needed medical attention immediately. Do not forget to call the police. You will eventually need the police report.

Exchange insurance information with the other driver as well as plate numbers. There are number of states which require drivers to carry insurance IDs. Ask for it and take note of the data written therein especially phone numbers.

Unless you figured in an accident on your own in a deserted country road, there will always be someone around who witnessed the accident. Look for one or two who are willing to testify. Be sure to get their phone numbers as well.

If the damage is below $500, it is wise to shoulder the repair cost by yourself. Claiming more than twice in three years would cause some hesitation on the part of the insurer to renew your policy.

If the accident happened off-road or in some business establishment like malls, get an incident report from the security; or if there is none, from the storeowner.

Immediately contact your insurance company. If possible, call your insurer right from the scene of the accident. Many use call-centers which you can call 24 hours a day. Some even provide systematic helpful instructions on what to do during accidents.

Even when you are not the party at-fault, it is still advisable that you file a claim with your own insurer. Your own insurer should be readily available to attend to your needs than the other driver’s insurance company. For a no-fault insurance, you may have to file with your own insurance company.

If the other driver does not have insurance, consult with your Accident Lawyer right away. You may opt to directly negotiate with the other party or file a claim suit in court.

You should tell the other party’s insurer that you are pursuing reimbursement for costs that your own insurer will not pay. You may also want to include the following in your claim:

• Insurance deductible

• Time off work during and immediately after the accident

• Rental differential

• Diminished value of your car in case of resale

You need to prepare as the other party’s insurance company will call and ask you about your own version of the accident. It will do good to write down necessary details of the incident so as not to mix them up. Your statement can always be used against you especially when your claim reaches the court.

After the adjuster’s examination or the insurer’s authorized shop and you believe the settlement is too low, you may elevate the matter for arbitration. If still no acceptable settlement is made, you may have to recourse to legal action and pursue your auto insurance claim with the help of an Accident Lawyer.

I read an article about something that could teach all of us a great deal about auto insurance firms. A person with comprehensive insurance on their automobile had it vandalized during the night in front of their house. The auto insurance company said that because the automobile had not been broken into, and because they did not know who was responsible for the damage (!?) they would have to treat it as accidental damage. Further, because the owner was under 25 years old, there was an additional $500 charge for any accidental damage. In other words, the auto insurance firm was treating it as though the owner of the car had driven into a wall, and charged them as such.

A few things become apparent to me when reading this. Of course, the auto insurance firm does not want to pay out any money. And they really don't want to pay out money when they know they won't get any of it back by increasing the premiums, and this is likely the case. Comprehensive charges are based on the value of the automobile, and the region. So we should never be shocked when they don't want to pay us anything. However, the second thing we need to remember is that they have lots of experience in legally avoiding their obligation to reimburse their clients, and we generally have absolutely no experience in getting them to pay. When we make an insurance claim, it is usually the very first time, or at least the first time with this insurer. We need to understand that they always have sneaky ways like this one to put the claim in a special category allowing them to treat it as they please.

Car insurance companies are not the only ones to do this. I had a leak in the upstairs bathroom in a rented house some time ago. This caused a stain which needed repainting downstairs. I called the insurance company to make a claim but they asked me to produce the bill for having had the room painted initially. I asked them why. Their position was that I had to demonstrate that I was damaged financially in order for them to pay me anything, and if I had not paid anything to have the house painted initially, then I had not been damaged financially. According to their logic, the individual who originally painted the room was the one who was damaged, not me, and therefore they were under no obligation to pay me. Talk about convoluted reasoning! They must have had a good laugh when they thought that one up.

What does all of this mean? Basically, that for the most part your insurance policy is useless. Get over it. Buy insurance to protect yourself against a disaster. This means public liability insurance only, and nothing else (unless required by law) for your automobile insurance. The purpose of insurance is to foresee the worst. Take the money you save and put it into your new car fund. And learn how to compare auto insurance quotes on line.

Before go in deep we should know that what is guaranteed issue term life insurance, as we know that with guaranteed issue life insurance no medical exam is required. At the most, you'll have to answer some health-related questions, although some policies don’t end of this time,
Guaranteed issue term life insurance was created for those who have trouble obtaining basic term life insurance coverage. It is also known as a simplified issue policy. In exchange for guaranteed coverage, you will be charged a higher term life insurance premium. Purchasing a guaranteed issue term life insurance policy is ideal for people who were born with or have developed constant medical problems.
If you initially buy the five year term, you may renew every five years after that until the age of 80. At age 80 your policy automatically becomes exchangeable for a stable life insurance policy. If you choose to purchase the 20 year term, your monthly rates will stay the same for the full term of your policy regardless of any rate increases. Upon completion of the first 20 years you have the option of purchasing an additional 20 year guaranteed issue term life policy. A 65 year old in decent health can still buy term. They may not be able to find a 30 year term policy, but they can find 10 year policies at affordable rates. Maybe that extra 10 years will be enough to pay off an extended mortgage or get the kids out of the house.
There are some insurance carriers offers the option to convert a 20 year term policy into permanent life insurance coverage after the first 20 year period is over.
There are many benefits by this insurance:-
1- It cannot be canceled in case when you develop a fatal poor health.
2- You can activate an accelerated death benefit in case of physical condition.
3- Your coverage is guaranteed to stay active for the whole term of your coverage. If you purchased the 20 year term, reporting would end if your benefits were accelerated.
4- You have the 30-days money back guarantee on the policy. If you decide that the guaranteed issue term life insurance policy is not for you
The good news is that people are expected to live longer, even longer than they did a decade ago. Since we did live long enough for our term policies to expire, we can expect to live even longer! However, we may not have outlived our need for coverage. Exclude
Sometimes the waiting period is 2 or 3 years, and that is used instead of health underwriting to qualify applicants. So, if you are considering a senior life policy, try to qualify for simplified issue instead of guaranteed issue if you can. But guaranteed issue policies usually refund all premiums paid with interest even if the waiting period has not been satisfied. So, for an older person who cannot find any other insurance, it is still a good deal.

Ordinary Business Life Insurance

The ordinary business Metropolitan Life Insurance Company prospered anew soon after 1892. This new lease on life was due not only to the low cost of the contracts, but also, in large measure, to the wide variety of plans available and to the many liberal features Mr. Fiske had incorporated in the policies.

During 1892, 1,704 ordinary policies were written for approximately $2,000,000, as compared with 178 policies for less than $200,000 the year before. The ordinary insurance on the books jumped rapidly from approximately $5,300,000 in 1892, to almost 10 times that sum only five years later. Before the turn of the century more than $110,000,000 of such business was in force, representing close to 125,000 policies.

Whereas in 1891 the Metropolitan Life Insurance Company was at the bottom of the list of ordinary companies operating in New York, it had reached fourth place as regards business written in this Department by 1900. After the Armstrong investigation the company forged ahead at an even more rapid pace, narrowing the margin between itself and the older, larger companies. Between 1906 and 1913 the ordinary business in force gained $609,905,310.

In the same period the New York Life gained $243,493,494; The Mutual $81,208,898; the Equitable $94,417,206. The Metropolitan thus gained nearly 50% more than all these three combined. Only a decade later, in 1923, the Metropolitan had become the largest ordinary insurance company in the world as well as the largest in total insurance in force. This standing, moreover, had been achieved without general agents or salespeople other than the men who represented the company on the so called industrial "debits," that is, the territory which each agent serves.

Shortly after the ordinary business was reestablished and the company’s agents began to canvass for this type of insurance, they found that a considerable number of working people were able to pay premiums quarterly, but could not afford to buy insurance in sums as large as $1,000, the minimum amount for ordinary. To provide this group with protection, the company in July 1896 began to issue intermediate insur¬ance, i.e., policies for $500, with premiums payable annually, semiannually, or quarterly.

It is not surprising that the Metropolitan should have pioneered in this field, since it has always blazed trails in bringing insurance protection to the lower income groups, such as no medical exam term life insurance. This new form of insurance likewise found a ready market. After the first six months 5,110 Intermediate policies were on the books for $2,555,000. At the end of 1901, only 5 ½ years after this department was launched, there were nearly 110,000 Intermediate policies in force for an amount close to $55,000,000.

Within the next three years these figures more than doubled, and continued to increase rapidly. The use of intermediate insurance has been subsequently extended to include persons in somewhat hazardous occupations and for those with physical impairments which make them ineligible for standard ordinary policies. To widen even further the circle of protection, the Metropolitan in 1899 inaugurated “Special Class” policies for those who, because of occupation or physical impairments, could not meet the standards of ordinary or intermediate insurance.

An even more formidable task than building the ordinary department confronted Mr. Fiske when he joined the Metropolitan. Industrial insurance was under severe attack. Even before the Hegeman Fiske administration came into office, the storm clouds had begun to gather. Late in the 1800’s a number of attacks were directed against industrial insurance. Incredible, but nevertheless true, was the fact that some worthy citizens of the day actually charged that life insurance policies on children endangered their lives because a number of parents would let their children die of neglect, or murder them for the insurance proceeds. This was an era of muckraking, and the sensational attack on Big Business, life insurance companies included, found a sympathetic response among certain legislators, newspapermen, and others who took up the cry.

Student loan consolidation rebates are usually given by a private company when student loans are consolidated equaling more than $20,000. The more student loans consolidation, the higher the student loan consolidation rebate. This is usually a percentage of the principal loan balance that is either applied to the outstanding loan or sent to the borrower as a cash payment. This can be a very attractive offer, especially when in the form of a cash payment to the borrower.

If you decide to go with a company offering the cash rebate option, make sure to read the fine print. Many companies require that a rebate form be submitted by a certain deadline to process the cash back benefit. If the cash back rebate form is not received, they will disqualify the borrower from the rebate.

Ask the lender what exactly is required to receive the cash back rebate before submitting a signed consolidation loan application. Many companies combine the cash back rebate with other borrower obligations. One company requires that a borrower enroll in their electronic newsletter with a valid email address before the rebate is awarded.

The federal student loan consolidation program is an excellent way to manage student loan debt as well as save thousands of dollars in interest payments. By asking the right questions and knowing what to look for, you can maximize your savings and make sure that you get the best deal possible on your consolidation loan.

James420

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