Most of us are aware of the financial consequences and burdens that may befall a family if an income-earner in the family suffers an accident or a serious illness. Hence, we tend to believe in the need to insure the adults in the family more readily. It is also a fact that it is easier or more possible to imagine the adults in the family getting hurt. Picturing a child getting hurt or accepting the possibility of that happening is more painful and therefore, avoided. Accidents However, as adults, we do have the responsibility to face difficult facts and make the right decisions. I am not asking you to picture the worst happening to any child. I am asking you to accept the fact that kids will be kids. They are most active and often indulge in play that could possibly hurt them. All it takes is a fall and a resulting broken wrist to burn a hole in your pocket. These are unforeseen expenditures and with rising living costs, such expenditures have the ability to take its toll on us. Common Medical Conditions There are also certain medical conditions that are more common among the younger generations. For one eczema and asthma had been on the rise. Getting your kid insured from a young age before these conditions show up will help make sure that you can cope with the medical bills and therefore, be able to provide necessary medical attention for your child. Serious Illnesses Lastly, it is a sad truth that there are always families out there who find themselves in the very unfortunate situation of finding out that their kids are in more serious medical conditions. At such moments, the last thing anyone wants is to be thinking about medical bills. It is more important to be there for the kid and not to have to sort out finances. Not Only When There's A Hereditary Medical Condition To Be Afraid Of It is wise, therefore, to obtain health insurance for your kid. It is not something to be done only when you have a hereditary medical condition and you are afraid you may have passed it to your kid. There are affordable child insurance plans in the market and with good research you should be able to find one with a good coverage as well. Otherwise, you may also consider adding on your child as a rider to your own health insurance. All it will do is to raise your premium a little. Not every person or organisation owns a minibus for the same purpose. The five different types of minibus insurance available from the Minibus Club highlight the different uses for this type of vehicle: 1) MPV Insurance More commercial operators are now using MPV's for carrying passengers because of their versatility, comfort and the ease that the vehicle can be adapted to satisfy the requirements of the Disability Discrimination Act. Examples of MPV use include education, nursing homes or for employee transport. A competitive MPV insurance policy will be tailored to the needs of the organisation. 2) Taxi Insurance Many taxi operators use a minibus or MPV as a taxi because of the adaptability of the vehicle to carry more passengers and extra luggage. Two types of taxi use are public and private hire. Public hire allows the taxi to be hailed by customers, who can then be picked up on the roadside. Private hire operators require the customer's journey to be arranged before they are picked up. A taxi operator will require additional insurance for the "carriage of persons for hire or reward", irrespective of whether they are private or public hire. Public liability can be included with a taxi minibus insurance policy. It is needed to comply with local government requirements. A minibus taxi operator must have an indemnity limit of at least £5 million. 3) Family Minibus Insurance Not all minibuses are used by commercial organisations. An increasing number of people recognise that a minibus can be a very versatile vehicle particularly when they have a large family who all like to travel together. There are minibus insurance packages specifically designed to cater for this type of use. With this type of policy it is important to remember that the minibus can only be used for social, domestic and pleasure purposes. If there is any element of hire or reward in using the vehicle or it is used for commercial purposes then cover under this policy would not be applicable. 4) Charity Insurance There are thousands of charitable organisations in the UK who use minibuses. Many charity groups rely on the versatility a minibus can provide in allowing them to take large numbers of passengers on journeys that may not have been easily achieved by using public transport. A good minibus insurance provider will offer charity minibus insurance for non-profit making organisations to keep their vehicle running costs to a minimum. But a Section 19 or Section 22 permit will be required to prove to the insurance provider that the minibus is being used for charitable and non-profit activities. 5) Fleet Insurance Large organisations may have more than one vehicle that needs insuring. Fleet insurance covers all vehicles under one policy regardless of their make or model, with no upper limit on fleet size. It is the most economical way to insure more than one minibus. And it reduces the time and paperwork involved with insuring each vehicle separately. For whatever the reason is that you own a minibus, a specialist minibus insurance provider can provide advice and help with finding the right insurance policy for your needs.
Running a business is risky enough without additional hazards that can endanger the business' assets or can cause liability. Thus, it is important to get proper coverage for those risks. Business insurance can provide you with the peace of mind you need to worry only about regular business problems like cash flow, marketing, taxes, and other common business issues. Choosing an appropriate insurance policy is necessary to be protected. But selecting the insurance company carefully is also important if you want to get both good coverage and a fair price. Also, it is important to choose a reputable insurance company since if the insurance company fails to pay for any loses, you may be held financially responsible and the money will come out of your pocket. Selecting The Appropriate Insurance Company Prices vary and so does the quality of the insurance product. Therefore, you need to find a balance between quality and price. But you need not only concentrate on the coverage of the policy but also on the reliability of the insurance company. Remember that if the company is in bad shape financially speaking, you may end up without coverage and being obliged to pay for any loses with your own money. Once you have assurance that the company is reliable you can concentrate on the product you will be purchasing. Not all policies have the same coverage and you have to make sure that the insurance company you selected provides an insurance product that adjusts to your needs. If you fill that you will be under-insured, do not think twice and move on to another company. It makes no sense to purchase an insurance that does not make you feel secure. Individual Coverage Vs. Insurance Package Policy Most brokers will advice you to obtain individual coverage for each specific risk you wish to protect yourself from in order to obtain the best results. However, there are also insurance package policies that offer many different coverage types within the same insurance product. These packages are particularly useful for small businesses as they provide a comprehensive insurance solution for a reduced price. For instance, Business Owners Policy offers a combined protection covering property damage, content damage, liability, and many other risks essential for small businesses. Moreover, if you want another specific insurance coverage not included in the package, you can always purchase it separately and you would still obtain a simple solution at a reduced cost when compared to purchasing individual policies for each risk you wish to be protected from. Contacting A Insurance Broker If you are running a small business or starting one, chances are that you are not that familiar with business insurance policies. Thus, it is an extremely good idea to contact an insurance broker to aid you in the process of obtaining the best business insurance policy available both in terms of quality and price. Business risks can prevent your business from growing, especially at earlier stages. Therefore, a business insurance policy is a must for small businesses and you should consider acquiring an appropriate insurance. I went to Answers.com to define whole life insurance. A type of life insurance contract that provides for insurance coverage of the contract holder for his/her entire life. Upon the inevitable death of the contract holder, the insurance payout is made to the contract's beneficiaries. These policies also include an investment component, which accumulates a cash value that the policyholder can withdraw or borrow against. Let's look at some components that make up a whole life insurance policy. 1. for his/her entire life The policy is structured to last you your "entire life" instead of a "term". As long as you keep paying the premiums, the policy will be in force regardless of age and health. 2. beneficiaries Just like term life insurance, beneficiaries exist in a permanent life insurance policy. But, what many fail to realize is that there are living advantages within this contract. You yourself can benefit if you utilize the living benefits. Of course, being aware of them is the first step. 3. cash value The premiums consists of a cash value as well as a death benefit. As stated above, the cash value is available to the policy holder to withdraw or borrow against. The above is an accurate definition. But to make this more interesting, I searched for Suze Orman to define this insurance product. She says: * I HATE WHOLE LIFE INSURANCE * THE ONLY TYPE I LIKE FOR THE PURPOSES FOR INSURING YOUR LIFE IS TERM INSURANCE! If you asked Suze why she hates whole life insurance, I'm sure she'll reply in the same tone: IT'S EXPENSIVE! Before my wife and I trained for our half marathon, we bought expensive running shoes. We went to a place that helped us find the ones that fit our running style. Buying cheaper shoes at your everyday sports store can gradually damage your back, knees, and feet. We were willing to pay extra for the return in value. Is there value to the higher premiums? To help define whole life insurance rates, let's look at why the premiums are priced high. There is a 100% chance that you will die. So, as long as you continue paying the premiums, the death benefit will be available upon death. Regardless of your age and health, the premiums will never rise. For example, if you sign the contract when you're 20 years old, and healthy and at 50 years old your health deteriorates, your premiums won't change. You are still locked into the rate from 30 years prior. There is no term or renewal period. So, is it really more expensive? It is affordable. You have the ability to recapture the premiums paid because of the investment component built into the policy. There is a guaranteed interest rate and the cash value within the policy can never lose its value (not the case with stocks and 401k). As time progresses, the premiums get cheaper because of inflation. Inflation is one of the eroding factors of money. So, in the later years, you'll be paying these premiums with inflated dollars. Now, how do you define whole life insurance? Have you experienced a paradigm shift? Many despise these policies because of it's high premiums. But we're trying to be different. Instead of looking at the costs, focus on the returns. That's what the rich do. Maybe Suze is right. Maybe for the purposes of insuring your life, term life insurance is the ticket. However, what if you could insure your life, build your savings, and invest all with the same dollar? That is called the velocity of money. Just like the shoes above, it's more expensive in the beginning. But, consider the value that it provides. The question is, can you use these policies to help you run on your journey towards financial freedom? Key Points 1. Whole life insurance provides living benefits, not just the death benefit. 2. There is a 100% chance that you will die. Put that statistic to your advantage. 3. These policies aren't as expensive as people perceive. The value that whole life insurance provides outweighs the cost. If you are thinking about traveling whether it is to another state or to another country, there are some precautions that you need to take; the most important of which is to purchase travel insurance in order to be protected in case any unexpected event or accident threatens to ruin your trip. Travel insurance will protect you from these unforeseen events and reimburse any costs that you may incur in due to them. There are many things that can happen during a trip that can imply additional, non foreseen costs like accidents, emergency medical or dental bills, theft, luggage loss, cancellation, delays, etc. All these events result in additional an non expected fees and expenses that can add up to the overall trip costs if you do not have proper insurance and can even ruin your vacations if you are not covered. Getting a Suitable Insurance Policy There are many different travel insurance products but not all of them adapt to any circumstances. Thus, it is a good idea to contact good insurance brokers and tell them about your needs. They will be able to customize a product suitable for your trips' particularities and will also find you an insurance company that is both reputable and competitive so you can get the best deal available. If you do not want to resort to the services of a broker, then you can do some research yourself by looking for travel insurance quotes on the internet with your favorite search engine. You need to compare the results and contact the insurance companies informally. Remember not to sign anything till you have compared at least three different options because there are many unscrupulous agents out there searching for their next rip off victim. Focus On the Coverage Rather than On The Price When it comes to insurance, you should never purchase it focusing your decision on the price of the policy. Instead, you should concentrate on the coverage that the policy provides and only after selecting the proper coverage for your needs, you should then shop around requesting insurance quotes from different companies but specifying which kind of coverage you want. After all, an insurance policy is useless if it does not cover what you want and purchasing travel insurance only implies that you will be protected against certain risks included in the policy. If just for the sake of bargaining you end up closing on a deal with a limited coverage that does not include a risk that you will be running you may end up with a useless policy or at least, you will be under-covered. There are predefined packages that include travel and life insurance for those who travel frequently. These products can be advantageous as all the costs that are not related to the risk (i.e. administrative fees) are shared and not charged twice. However, if you have specific needs, if you run additional risks (visiting war-zone countries, epidemic zones, etc.) it is wiser to have your insurance broker customize a policy specifically for you.
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