This is default featured slide 1 title
This is default featured slide 4 title
This is default featured slide 5 title
 

Monthly Archives: August 2017

Select Right Insurance Plan

1) Be sure about your requirements- Not all policies are the same. For example, under Life Insurance comes Retirement Plans, Child Plans, Term Insurance, Endowment Plans and ULIP. So it is important you choose a plan that will match your requirements. If you are looking for pure protection plans, then a Term Plan is for you.

But if your goal is to have a combination of savings with protection then your options are Child Plans, Retirement Plans or ULIP’s. Over here your goal would decide what kind of cover you should go for. For instance, if your goal is to save for Child’s future then Child Plan would be ideal but if you want to save for your retirement then Pension Plans is the best bet.

2) Calculate the Cover you need- A lot of factors come into play while deciding the cover you need. For example in Health Insurance, your age, medical history, city of residence, lifestyle habits, etc. is considered while deciding the amount of cover. On the other hand, in Life Insurance factors such as your income, liabilities, number of dependent family members, etc. help to decide the coverage amount. So a 30-year-old person who has a home loan and 2 school going kids should take a higher cover, while a 45-year-old person who has no liabilities and whose kids have started working can opt for a lower cover.

3) Compare Plans- Comparing plans doesn’t mean just comparing the price. Cheapest is not always the best. You should compare the features, benefits, exclusions and select the plan that suits your needs. For example, while selecting a Health plan for your parents, you should go for a plan that has minimum waiting period, as old aged parents could anytime require hospitalization. Besides, comparing Motor insurance every time, during renewal can be very beneficial plans you can get a discounted premium and may even get additional add-on riders.

4) Read, Understand & Familiarize yourself with the terms and conditions of the policy- After you have zeroed in the policy that you need read, understand and familiarize yourself with all the terms and conditions. This is important to avoid any surprises and heartaches later. For example in a Health Insurance, you should know what is the Room Rent Limit, Waiting period, Exclusions, Day care procedures, Network hospitals, etc. Similarly, in a Life Insurance Policy, you should be aware of Maturity benefit, Death Benefit, permanent exclusions etc. For example, death or hospitalization due to taking part in adventure sports or war is not covered by many Health and Life insurance policies.

Auto Insurance Renewal

· Annual Policy: an auto insurance policy that is valid for one year.

· Semi-annual Policy: some policies are valid for only 6-moths period. For policyholders, 6-months provide the chance to improve DMV records and reduce the premium for the next renewal date.

Auto insurance companies have the obligation to notice policyholder about renewal information. They can send it via mail or email within 45 – 30 days in advance of renewal date. Unless policyholders want to make changes to the current policy, renewal process should be quick and easy. Nonetheless, it is best for policyholders to do their due diligence and check for errors or unexpected surcharge. Before the renewal takes place, please make time to:

· Review the policy: the best time to verify discounts or make changes to coverage is on renewal date. It becomes more important when policyholders have practiced safety guidelines from the insurer as a requirement for discount eligibility. Auto insurers often reward good customers with lower premium as well. In many cases, it takes an insurance agent to see potential changes in the policy.

· Make payment: whether policyholders want to continue or cancel the policy, the best time to notify the insurer is on renewal date (or several weeks before). Some carriers do not allow for grace period on renewals, so they can cancel the policies because there is no payment confirmation. Even when policyholders want to switch to new carrier, it is important to notify the current insurer to avoid fines.

Premium Surcharge

An increase in premium rate is not uncommon. It happens for two main reasons. First, the insurance company increases the base rate. In this case, all policyholders should get premium surcharge. Even good drivers with clean records should pay more under this circumstance. Another reason is that the policyholder has higher risk than before in the previous period. Traffic tickets and bad credit score can lead to premium surcharge. Auto insurance claims for an at-fault accident almost always increase the premium as well.

Changes before Renewal

Insurers allow policyholders to make changes in the policies between renewals; this regulation applies only for auto/car insurance policy. Other vehicles such as RV, boat, and motorcycles may not have this option. Changes in policy for examples coverage omission or vehicle removal from the list can offset the premium surcharge from bad DMV records. In worst scenario where policyholders have records of involvement in accidents that cause severe injuries or deaths, the rate can go very high beyond affordability. To compensate for expensive premium, policyholders can choose to purchase only state’s minimum coverage requirements.

Safe Trip for Family

Higher buildings, crowded places where people are always walking. As well as the sight of children running around. A typical scenario you could see when you’re on a busy road. However, despite these realities people are never tired of exploring the hidden beauty of the world.

Renting cars and cab are the best options a family who lacks money can probably choose. It is their means of transportation just to experience this so-called vacation. However, for those who are fortunate enough to buy cars easily. Transportation is not their problem anymore.

Through this journey, you sure you and your family is safe? What if something happen? A terrible one. Can you rely on something? Or do you have something to rely on when unpredictable things occur?

Well, you must think twice now before you plan your next vacation. Why? It is because anything, whether it be disastrous or accidental, they can happen faster than you ever thought.

Plan right.

Planning ahead of time before deciding to go on your desired vacation site is a right thing to do. You have all the time to think about the pros and cons regarding this matter. You can get all the means to contemplate about the possible things that are bound to happen during your so-called vacation. Budgeting the money you need is important, right? So plan tightly about this. You know it is quite costly having this moment in life.

Choose the best place.

It doesn’t mean ‘expensive and luxurious places’ when we talk about being at the best place. You must not worry about the place you plan to go through. Money is not the major problem here, although others think it is. Don’t worry if you can’t go on expensive places like other people.

Planning on finding a much cheaper place? That’s okay! The place doesn’t need to be extravagant. You know what the real amazing place is? It is the place where you can get all the peace of mind and relaxing sensation you can. With your happy and contented family at your side. Wherever you are, that place can be then called as the best place in the world.

Auto insurance is a must.

Don’t hesitate to get this insurance. It is not only for you; it is also for your family. Before travelling get this one. Do not stress yourself thinking about the money you are about to spend when getting this. That amount is cheaper compared to the assurance of a safe trip you can get. When bad things happen, the auto insurance with its coverage can help you.

Car Rental Insurance

Getting an insurance for your luxury hired car is not a very complicated task at all. You can purchase it from the car hire companies. Salespersons may push you very hard to purchase various insurance policies. But it is always important to choose the right kind of insurance policy which will secure your rental car and you as well. Here are a few policies that can help you out in your need hours.

Collision Damage Waiver: It can protect your vehicle in case of collision of hire cars. You will be acquitted of the compensation for loss or damage of your vehicle. But the insurance company will not be liable to pay anything for the loss or damage of the hire car in case of theft of vehicles or damages occurred to the rental car, if not covered under this policy.

Liability Insurance: Only the collision occurred between two vehicles is not called an accident. Also, we call it an accident when a vehicle hits a man, an animal, a tree, a building or other things that are owned by someone else. Liability insurance policy can bring you out from these kinds of situations if your hire car makes the loss to someone’s property.

Personal Accident Insurance: Also, security of the lives of the passengers holds a great significance along with the security of the hire cars. Personal Accident Insurance keeps the lives of the passengers and drivers secure and provides compensation for the death of the driver and passengers.