Life Insurance - Money Saving Top Tips

More and more people are buying life insurance online and the numbers seem to be doubling every two years. The reasons are clear. Prices are lower on the Internet and life insurance is fundamentally a simple insurance product.

Despite the underlying simplicity of life insurance, most web sites channel their online clients through a telephone based help and advice service manned by experienced personnel. They represent your safety net so if a little technical knowledge is called for, help is at hand.

But it's always a good idea to have a few Top Tips in your back pocket when you're shopping online for life insurance. They'll help you ask the right questions and find the best policy.

1. Always have your Life Insurance policy "Written in Trust".

This means that in the event of a claim, the money goes directly and immediately to the person(s) you nominate when you first take the policy out. It also avoids all possibility of your estate having to pay Inheritance Tax on the proceeds of your policy and that could represent a 40% tax saving !

All you have to do is tell the online brokerage organising your policy that you want your policy "Written in Trust" and the names of the people who the life insurance company pay in the event of a claim. They will then sort it all out for you. The extra good news is that this service is invariably free of charge. So it's a win win situation and there aren't many of those around these days !

2. In the early years a Reviewable Life Insurance Policy will be cheaper but a Guaranteed Policy will work out a better buy in the longer term.

With a "Guaranteed Policy" the insurance company guarantees never to increase your policy's premium.

With a "Reviewable Policy" you agree that your insurance company can review the cost of your policy at regular intervals. But don't be kidded - in our experience a "review" is just another word for a price increase. After all, who's ever heard of an insurance company passing up a chance to charge you more! The review intervals are usually between 2 to 5 years but this does vary between insurance companies. You will find the details of the review intervals on the documents sent to you before you accept the insurance - these are called The Key Features Documents.

So, comparing otherwise like for like policies, in the early years the premiums for a "Reviewable Policy" will undoubtedly be lower than the premiums for a "Guaranteed Policy". Thereafter, the premiums for a Reviewable Policy increase eventually catching up with and overtaking, the premium for a "Guaranteed Policy".

In our experience, you can expect the monthly premiums for a Reviewable Policy to exceed those of a Guaranteed policy in about 7 to 10 years and then within the following 10 years, more than double again. If your budget is currently tight then by all means choose a Reviewable Policy - after all your salary may increase in coming years and ease the strain. On the other hand, if the premiums for a Guaranteed Policy are affordable, we think they represent your best buy.

A footnote. Many insurance companies have stopped offering "Guaranteed" rates for standalone critical illness insurance policies. This because they have experienced much higher claim rates than they initially expected. However, you may still find a Guaranteed life insurance policy that also provides critical illness cover. As we have explained, "Guaranteed" rates are especially good value and if you can get a quote for a Guaranteed life policy that includes critical illness cover, you may have a real bargain.

3. Thinking about a Joint Life Insurance Policy?

A Joint Life Insurance policy is usually written on a first death basis. This means that the policy will pay out on the death of the first policyholder, subject to the policy being in force at the time. This leaves the second person uninsured and older. Older people can struggle to get life insurance at an affordable premium, so rather than a Joint Policy consider taking out separate policies now. Overall it will work out a little dearer - but you get twice the cover and double the peace of mind.

4. Taking out a Life Insurance Policy? Now would be an ideal time to include Critical Illness cover.

Are you likely to need Critical Illness Insurance in the future? Yes? Then consider adding it now to the life insurance policy you're arranging. Why? There are three reasons.

Firstly, a Life Insurance policy combined with Critical Illness cover will work out significantly cheaper than buying two separate policies. Secondly, as we have already explained in the footnote to Tip 2, you may be able to buy a combined Life and Critical Illness policy with a guaranteed premium. That could be a real bargain. Finally, premiums for critical illness cover increase rapidly as you get older - so the sooner you take it out, the cheaper it will be.

5. Don't confuse Terminal Illness cover with Critical Illness cover.

There's world of difference between Terminal Illness and Critical Illness cover so it's important to understand the difference.

Terminal Illness cover pays out the insured lump sum if a Medical Doctor diagnoses you with an illness from which the Doctor expects you to die within 12 months. Most good life policies automatically include Terminal Illness cover at no extra cost. It's basically an early, and welcome policy payout.

A Critical Illness policy pays out the insured lump sum if you are diagnosed with one of a wide range chronic illness and there is no life expectancy criteria. Indeed, with many of the insured illnesses you could expect to survive for many years. For example: certain cancers, heart disease, stroke, multiple sclerosis, loss of speech, sight or hearing, onset of Parkinsons or Alzheimers disease, third degree burns etc. Say you were an engineer aged 40 and you lost your sight. A Critical Illness policy would pay out immediately and that money could well be vital in helping you and your family through many difficult financial years ahead. If you just had Terminal Illness cover there'd be no chance of a payout.

So as you can see, Critical Illness cover is far more comprehensive than simple Terminal Illness cover and for that reason critical illness cover always costs you extra. 

Author Bio
Michael Challiner has 15 years experience in financial services marketing at senior level, the last 5 of which specialised in online marketing. Prior to that he spent 15 years in advertising with two of the world's top advertising agencies, J Walter Thompson and Saatchi & Saatchi.
Michael now works as the editor of Express Life Insurance on behalf of Andromeda Webs Ltd

Article Source: http://www.ArticleGeek.com

Brit girls go there to get ripped off

We all know that women make better drivers; that's why women's car insurance is so cheap. But did you ever wonder if a woman might make a better car mechanic?

Well, chances are, no, you didn't. For the majority of women, a career in car repair is about as appealing a prospect as one in plumbing, or refuse collection. It took a Frenchman named Herve Malige to do the wondering for us, and, following that, to recruit some women and find out.

His unique project runs at the Base 34 training centre, near Montpellier. This year's intake of 15 women, all aged between 22 and 38, includes former air hostesses, beauticians and a nurse. They expect to graduate in June 2007 and hopefully found their own repair business together.

That too would be unique; there are currently no garages in Europe run by an exclusively female staff. The nearest all- female car repair business to Mr Malige is in Montreal, Canada, and he wouldn't be able to get a service there: the mechanics insist that all their customers be women as well.

Herve explained why ladies are better under the bonnet, saying, "What is needed today [in mechanics] is rigour and methodical diagnostics. Women are strong at identifying the causes of breakdowns - they methodically check everything."

Finding the bonnet release
Herve's work demonstrates that women have the potential to outdo men in the field of car repairs in just the same way as we do on the roads.

But woefully few of us are living up to that potential.

In fact, one in ten female drivers in the UK admitted she couldn't even find the bonnet release in her car, let alone check the oil or change a tyre. It's no wonder that women drivers' failure to carry out basic checks has lead to almost a million breakdowns, according to motor insurance provider InsureandGo.

The problem isn't our ability - it's perhaps because most women just aren't interested in what goes on beyond the steering wheels and pedals. The vast majority of us leave repairs and maintenance up to someone else, even if it means a trip to the garage or a call to the breakdown firm.

But consider that we spend £4 billion every year in the UK on unsatisfactory repair work - that's based on an average £125 of your money wasted every time a job is botched, done unnecessarily or overcharged for - and all of a sudden there's a good reason for getting a bit better informed!

What we can do to prevent breakdowns
All too often, women leave car repairs to the men in their lives, when, as we've proved, they're capable of doing a much better job by themselves. And when dad, brother or boyfriend isn't around, we all too readily fork out expensive call-out fees for a breakdown mechanic; generally to do a job the average woman could do with her eyes closed if she just took a little interest in her car.

For the seven million female motorists who say they know nothing whatsoever about car maintenance, femalefirst.co.uk recommends your first port of call should be an often overlooked source of info - the car's manual. This tell you all sorts of dull but vital information about tyre pressures, fuses, fuel capacity, etc - stuff that'll get a whole lot more interesting as soon as you break down!

Most manuals have a log section at the back where you can make a note of fuel consumption and mileage, and when certain engine parts are due for replacement. Keeping this up to date takes care of the majority of preventable breakdowns; it also ensures you won't get caught short with the petrol dial in the red again.

Need an oil change, fan belt, windscreen wiper blade, etc? Sounds like a nightmare, but chances are replacing everyday consumables like these is a piece of cake. If you're feeling brave, get hold of the Haynes manual for your car (http://www.haynes.com), which explains how to do it all through straightforward language and easy-to-follow diagrams. After all - men can manage it...

The trouble with garages
No matter how well you maintain your car, sooner or later you're bound to end up taking it to a garage - whether for an MOT, a service, or a repair job.

Unfortunately, most of us find visiting the auto centre about as much fun as a trip to the dentist's. 57% of the women interviewed by InsureandGo said they felt intimidated in garages, and a whopping 84% expected to be ripped-off.

Sadly, both these fears are born out by a substantial body of consumer surveys and mystery shopper research.

In 2002, the Department for Trade and Industry (DTI) carried out a mystery shopper survey that involved putting test cars in for a service at 250 UK garages. It's shocking enough that, in 40% of cases, mechanics didn't bother to give the cars a full service before handing them back; but it's particularly alarming that the figure rose to 58% when the researcher was a woman.

So, besides breaking down far more often than other drivers, the seven million women who don't know anything about their cars are leaving themselves vulnerable to the botching and overcharging of unscrupulous mechanics.

The DTI figures prove garages target women for crooked mark-ups because they know they'll away with it - and that's why four out of five women expect to be ripped off.

Once again, the obvious solution for women drivers is to find out more about their cars. That way, you've a much better chance of getting the ten-point inspection you paid for rather than the three-point one they could only be bothered to do.

What we can do at the garage
Reports by the National Consumer Council suggests that two factors, specific to the car repair industry, mean motorists are at risk of being exploited when visiting a garage.

First of all, we don't know as much about the car as the mechanic does. If he says a job or replacement part is an essential, we have no choice but to pay for it; if he misses a fault or fluffs a repair, we have no way of knowing about it.

The other reason motorists make easy targets for an unscrupulous mechanics is that we're very often in a bit of a panic. You've heard of panic buying when there's a fuel shortage or a big storm coming? Well, having our cars break down elicits a similar reaction in most drivers; we just want the thing fixed, money-no-object - at least, not until the mechanic hands over your bill.

So the best advice for female motorists visiting a garage is to work against these factors. Always try and diagnose the fault before taking your car in for a repair. Even if what you say isn't the source of the trouble, it will show the mechanic you're a lot more savvy than the woman who turns up with no idea other than 'it makes a funny rattling sound'.

Also, turn back to your trusty manual and specify what brand of replacement parts you need. If possible, ask the mechanic to show you what's broken before leaving him alone with your car. That way, if you can't identify the part yourself, you'll at least be able to see if any actual work has been done in the area when he's finished.

To take care of the panic buying factor, spend as much time as you can afford shopping around for quotes on your job. Ask the garage you choose to confirm the estimate in writing so you avoid any unpleasant price-hikes once the work is done.

Above all, try to be calm and self-assured at the garage. If you suspect you're being duped, say as much. Even if the mechanic is charging a fair price, he won't begrudge you for questioning it. And don't be afraid to walk away from a garage. After all, with 26,000 car repairing outlets in this country, there's plenty more fish in the sea.

To recap...
We all knew women make better drivers; now we know they make better mechanics, too. It doesn't mean you have to put on overalls and invest in some nice spanners, but there's no excuse not to dust off the manual and find out a bit about your car.

Just a basic knowledge of car maintenance will dramatically cut down the number of trips you make to a garage - and it'll mean you get good service and a fair price when you do visit one.

Author Bio
Katy Lassetter, CoverGirl Car Insurance Services are specialists in women's car insurance and can provide fast, free quotes in seconds- just go to http://www.covergirlcarinsurance.co.uk or call 0800 195 48 52 today. 

Article Source: http://www.ArticleGeek.com - Free Website Content

Tips for Saving Money on Insurance Premiums

For those who are looking to save some money in the new year, it may be beneficial to research some ways to reduce the costs of car insurance premiums. There are a variety of ways to pay less money each month. The following are some ideas to consider implementing in order to reduce monthly spending:

Liability Coverage on Older Vehicles

For anyone who has older vehicles, carrying only liability insurance is one way to reduce premiums. This is especially helpful for those who have older vehicles in addition to their vehicles used for primary transportation. Removing the collision and comprehensive pay can be a good way to reduce spending, particularly if the value of the vehicle is low. It could be that the cost of insuring the vehicle is higher than the replacement value.

One main consideration with this idea is whether or not there are payments due on the car. For anyone who is still financing, the agency may not allow a drop in coverage until it is paid in full. Also, if there is no way to replace the vehicle in the event of a crash, full coverage may be needed until funds are in place to do so.

Inquire About Safe Driver Discounts

Many agencies will offer discounts to those who have a clean driving record. These discounts are typically provided to those who have no tickets or accidents on their driving record in a specified timeframe. In addition, drivers should not have made any claims for comprehensive repairs, such as broken windshields.

Ask About Discounts for Good Grades

For those with children of driving age, a good report card can prove to be beneficial with regard to insurance costs. Discounts are often provided to kids who maintain a certain grade point average. The amount of the discount will vary from agency to agency. Also, the insurance agent will likely ask for proof of grade point average from time to time, so be prepared to provide that information on a regular basis.

Do Not Drive As Often

For those who are at a point in which they are not driving as often as they used to, agencies may provide a discount for doing so. If driving less is not an option, there still may be options to attain this discount. This can be done through carpooling or traveling using public transportation. This not only accomplishes the goal of spending less, but it will also save money in fuel costs, maintenance, and repairs on a vehicle. For those interested in this type of discount, the agency may require a device to be placed in the car to track mileage. Alternatively, the insurer may request a manual report of mileage on a regular basis.

Saving money is often a priority for many families, and saving on insurance premiums is an ideal place to start. Check with different insurers to see if additional discounts are offered that are different from the current agencies. It may be worthwhile to change providers to take advantage of these cost-saving measures.

To learn more about their insurance options, Canton, OH residents should visit http://www.cantonins.com.

Article Source: http://EzineArticles.com/expert/Andrew_Stratton/83489

How To Get The Best Insurance Quotes

What things should you keep in mind when looking for a way to make payments to your current insurer without any hassle? What does the insurance cover? Can you go for the online insurance option? Read on for the answers to these commonly asked questions.

Most people tend to pay their insurance company whatever amount they demand in order to avoid the hassle. But is it compulsory for you to get car insurance quotes from a local company? No, you are not bound to do so, especially if you have access to the Internet. Almost, everything costs you loss if you buy it online, isn't it? So, why can't you get insurance quotes online? Of course, you can.

How to get quotes?

There is no doubt that the web has brought a revolution in the world of car insurance. Nowadays, getting insurance quotes from the comfort of your home is a piece of cake. There are so many insurance providers online that their quotes have become quite competitive.

So, how can you get quotes online? Well, it is simple. All you need to do is go to an insurance site offering quotes online upon request. Once you have chosen a site, you can enter your details and the hit Enter. You will get a quote instantly or after a few hours in your email. As an alternative, you can try out an insurance aggregator website, which will submit your entered information to a number of online insurers. You will get a lot of quotes in seconds in your desired order.

Once you have got the cheapest quote, you can complete your transaction by phone or through the website of the company that offered the quote.

Choose a responsive provider

Most people have to deal with dishonest insurers since they don't have the information they need. With the advent of online insurance companies, it has become a lot easier to get cheap insurance. If you have no idea where to go and what to do, you may want to try out an insurance quote aggregator site. What do you need to keep in mind during your research? The first and foremost thing is that you should not go with a company offering the lowest quotes and low quality service. The insurer should be ready to answer your questions when you call them. Moreover, they should respond to your emails and calls promptly.

Lastly, it is very important to keep in mind that you should go with only an insurance provider who is popular and trust worthy. What does this mean? How can you find out if an insurance provider is trusty worthy? You can easily weed good providers out of bad ones. You just need to go to insurance provider review sites and then read reviews on several providers. At the end, you should choose one that has lots of positive reviews.

So, if you are looking for cheap insurance quotes, you can use the two methods explained above. Since there are so many insurance providers online, it looks like the days of conventional, local brokers have been numbered. With the passage of time, online insurance quote providers will run circles around local providers.

Are you looking for reasonable insurance quotes in NI? If so, you may want to check out this site.

Article Source: http://EzineArticles.com/expert/Jovia_D'Souza/2007086

How to Find the Best Insurance Agency

When you need coverage, you should look to your insurance agency to find the right policy. You might not be aware of some of the policies available to you. While you might think your traditional insurance will cover everything, you might be surprised to find out where traditional homeowner's, rental, medical, and car coverage fall short.

Different Types of Coverage

If you should determine that you need any of these supplemental options, you should check with your insurance agency to find out whether they offer the coverage in question. Not all underwriters offer these policies. You may have to get these supplemental offerings from other agents.

If you have a dog, then you might want to purchase a dog bite or "pet liability" plan. While you might think that your four-legged friend would never harm anyone, there is always a chance that it could happen. According to the Insurance Information Institute, half of all incidents happen on the owner's property. While homeowner's liability may cover the medical costs, there can be complications, such as when incidents happen away from home. Having a specific dog bite policy will handle any unforeseen problems.

Those who live in coastal areas will want to get flood insurance. This protects your belongings from damage due to floods. What most homeowners don't realize is that traditional homeowner's plans do not cover this damage. That is why it is important to purchase these policies separately.

Burial coverage gives your surviving family members money to pay the cost of your funeral and burial. The cost is nominal, totaling only a few dollars a week or month. This policy is not often sold through a traditional insurance agency. You will either have to go to a broker or purchase from a funeral home.

Personal electronic equipment policies give you more protection than the standard homeowner's plan. A traditional plan does not cover damage caused by installation errors. These programs offer repair or replacement of electronics such as computers, stereos, and televisions.

If you have valuable items like jewelry or high-end electronics, then you want to have supplemental coverage. While your homeowners plan does cover some items in the event of fire or theft, it does not cover everything.

Some businesses offer their full-time employees short-term disability. However, if your company is not one of those groups, you should look into having short-term disability added. Medical plans will help to cover bills from doctors and hospitals, but it will not help to cover normal monthly bills that can pile up if you have to miss work. While not all short-term disability programs are the same, it is something you should check into to ensure that you don't fall behind on your bills.

You need to research and understand the different types of coverage available to you. If you are unsure, an insurance agency can assist you in finding the information you require.

Locals looing for a Malden, MA insurance agency go to http://www.batesins.com/contact/malden-insurance/.

Article Source: http://EzineArticles.com/expert/Aaliyah_Arthur/663273