Archive for September, 2006

New study shows 48 million households are underinsured

Monday, September 18th, 2006

According to a study by LIMRA International, 44 percent of the US household population either don’t have life insurance and believe they should, or they own a life insurance polcy and belive that they need more.  Also, 3/4 of the american household don’t have any financial advisor or life insurance agent. 

LIFE ( Life and Health Insurance Foundation for Education) has created a website – http://www.life-line.org/.  The website provides basic information and helps consumer find the best coverage without any pressure to buy. 

 

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Home Insurance Tips

Sunday, September 17th, 2006

1. You can lower your premiums by increasing your deductibles (amount of money you must pay if you encounter any kind of loss)
2. You can obtain a huge discount if you obtain your home insurance from the same company as your auto insurance company.
3. You can make your home attractive to insurers by installing safety devices around the home such as automatic sprinklers, smoke detectors, deadbolts, alarms etc. Most companies will offer some kind of discount if you have such devices installed in your home.
4. You can also obtain a discount by allowing interior inspection.
5. Always ask for loyalty discount if you have been with a company for a long time.
6. You might be able to get a discount if you don’t smoke
7. Finallly, compare different insurance policies online.

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AOL to offer insurance coverage for paying subscribers

Sunday, September 17th, 2006

AOL is offering free insurance coverage for identity theft and computer damage. The insurance coverage is offered through American International Group Inc. and the policy will provide up to $10,000 that will help restore identity and credit. Policy covers up to $2,000 for lost wages and it will cover cost for rejected loan applications, legal fees, credit reports. A separate AIG policy will cover up to $1000 for computers that require repair or physical damange. The policy will not cover any money that is lost through a scam. The insurance coverage is only limited to subscribers for the $26 a month unlimited access plan.

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Flood Insurance is very important for home owners

Tuesday, September 5th, 2006

We all know the importance of life insurance and same thinking can be applied to flood insurance.  A storm can bring alot of water into your home and cause alot of damage.  This damage will not be covered by homeowners’s insurance.  According to federal government, flooding can happen anywhere at anytime.  Most people think that they will never encounter a flood or rising water but when it happens, it is too late.  Furthermore, flood insurance ranges from $100 – $1300 per year.  Finally, make sure that you get the flood insurance policy ahead of time because they will take 30 days to go into effect. 

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