BR Insurance

Finding the Best Insurance + Free Quotes!

2012-02-15T19:59:00.000-08:00

Shopping for insurance involves comparing quotes received from a variety of sources. Any insurance provider should be able to provide the shopper with free insurance quotes. Insurance agents, whether they are found brick-and-mortar offices or online, are accustomed to providing these quotes to potential customers.

When seeking out free insurance quotes for auto insurance, the shopper should be knowledgeable about the different facets of auto insurance policies. Auto insurance policies can cover just liability, or they can also include comprehensive and collision insurance. When purchasing a policy with liability only, the shopper can expect to pay less. However, if an unfortunate event happens to the vehicle, the auto owner will not be reimbursed for the value of the automobile. With comprehensive and collision insurance, the shopper can expect to pay more. The benefit of the additional premiums paid is that the owner will be reimbursed should the automobile be damaged, destroyed, or stolen.

Many states mandate a minimum amount of liability coverage that can be sold. Often, this minimum liability amount is around $25,000. This means that an auto owner is protected for up to $25,000 for any liability incurred in connection with operating their automobile. For example, if a driver collided with another car, the insurance company would reimburse the owner of the damaged car for the actual cash value of his or her vehicle, up to a maximum amount of $25,000. Liability coverage is usually sold in increments of $25,000, and coverage can be purchased up to $500,000. Amounts of $100,000 and $150,000 are commonly carried by car owners. Liability insurance is relatively cheap when compared to comprehensive and collision coverage.

For many car owners, comprehensive and collision insurance is the most important insurance to carry. Many owners could not withstand the financial loss involved with their primary vehicle suddenly being destroyed or damaged. Unfortunately, this coverage is expensive. To make the coverage cheaper, the shopper can ask that the deductible of the policy be raised to a higher amount. First-dollar coverage is the most expensive insurance available. This is where the policy owner pays no out-of-pocket amount in the event his or her car is damaged. Deductibles of $250, $500, and even $1,000 are more common, with the higher deductibles reducing the overall cost of the insurance policy.

When seeking free insurance quotes, the shopper should consider how high of a deductible he or she is willing to consider. Usually, if a shopper has money in the bank, a higher deductible is a better deal. With wealthier shoppers, purchasing substantial insurance makes a lot of sense. For car owners that are not as fortunate, purchase the state's legal minimum may be the best bet. Shoppers can often play with and manipulate the various coverage amounts on online insurance quote websites to see, in real time, the changes to the annual premiums that occur when more or less coverage is selected. At the end of the day, the shopper must determine what coverage fits his or her individual financial situation the best.

Article Source: http://EzineArticles.com/6861780

Top Insurance Degree Universities

2012-02-08T15:47:00.000-08:00

What Type of Work Would I Do if I Worked for an Insurance Company?

Many insurance company employees prepare insurance contracts and handle customer service questions. Investigators, examiners and appraisers may personally visit claim sites to determine if claims are legitimate.

If you are looking into the following degrees. . .

- Doctorate
Doctor of Business Administration - Leadership
Ph.D. in Management - General

- Master
MBA - Risk Management
Master of Business Administration - General

- Bachelor
BS in Business Administration - Finance
BS in Business Administration - General

. . .Then check out the following schools:

Walden University
Kaplan University
Colorado Technical University
DeVry University
Strayer University
Baker College (Online)
The University of Liverpool

All the above schools have wonderful programs that will almost ensure you a job right out of college! Earn a great salary, and follow your dreams!

Get your Insurance Degree Today

2012-02-05T10:01:00.000-08:00

Insurance Degree Programs Overview

Insurance degree programs train students for a career in insurance and risk management, life and health insurance or actuarial services. The most common insurance degree programs are bachelor's-level programs. However, there are also associate's, master's and doctoral degree programs available. This article includes examples of each program.

Associate's Degree in Life and Health Insurance

An associate's degree in life and health insurance provides students with the knowledge to administer insurance policies and provide advice on investing policy payouts. Insurance degree programs at this level prepare students for entry-level positions in life and health insurance or the financial services industry. Associate's degree insurance programs are intensive to economics, management and customer relations.

Educational Prerequisites

In order to enroll in an insurance associate's degree program, students must have a high school diploma or GED. Some colleges require associate's degree students to take college entrance examinations and achieve a satisfactory score prior to enrollment.

Program Coursework

Students enrolled in an insurance associate's degree program can expect to take classes in the following:

Life insurance
Health insurance
Insurance marketing
Insurance information management procedures
Investments and economics
Insurance administration
Customer relations

Popular Career Options

Upon graduating from an insurance associate's degree program, students will undertake such careers as:

Insurance billing specialist
Insurance solicitor
Actuary assistant

Bachelor's Degree in Insurance and Risk Management

Students desiring a career in insurance and risk management must learn to prepare various insurance policies, such as automobile, health, commercial property, commercial liability and personal property insurance. A bachelor's degree program in insurance and risk management also trains students to help individuals assess their personal and business insurance needs, underwrite insurance policies and navigate tax issues. These insurance degree programs also focus on risk assessment, law, ethics and insurance agency management.

Educational Prerequisites

Prior to enrolling in a bachelor's degree in insurance program, students must have either a high school diploma or GED. Some colleges prefer students to have earned an associate's degree in business administration or a related field prior to embarking upon a bachelor's degree program in insurance. Students should also have a solid background in algebra, calculus, English and communications.

Program Coursework

Students embarking upon a bachelor's degree program in insurance will have a curriculum containing the following courses:

Ethics in insurance
Casualty risk assessment and insurance
Legal insurance issues
Personal risk assessment
Personal property liability issues
Accounting
Employee benefit determination
Insurance and financial planning

Popular Career Options

Students graduating from an insurance bachelor's degree program can expect to find employment in the following areas:

Actuarial services
Insurance claims
Risk assessment
Underwriting
Insurance sales

Master's Degree in Insurance and Risk Management

A master's degree program in insurance and risk management includes more advanced liability, property and corporate risk classes than those required for bachelor's insurance degree programs. In addition, most master's degree insurance and risk management programs require the student to prepare a thesis.

Educational Prerequisites

Students wishing to enroll in an insurance master's degree program should have a bachelor's degree from a regionally accredited college and submit both high school and college transcripts and letters of recommendation.

Program Coursework

Master's degree programs in insurance and risk management typically contain an internship, as well as the following classes:

Commercial property insurance
Commercial liability insurance
Life insurance
Advanced practices in property insurance
Advanced practices in liability insurance
Employee benefits
Risk management for corporate entities

Popular Career Options

Students who have successfully completed a master's degree in insurance and risk management program may seek one of the following careers:

Insurance investigator
Management analyst
Corporate risk assessment specialist
Insurance broker

Doctor of Philosophy in Insurance and Risk Management

A Ph.D. program in insurance and risk management prepares students to conduct research and teach at the university level. Students learn both applied and theoretical aspects of insurance, risk assessment and employee benefits. Prior to completing the program, students must conduct doctoral research and present a doctoral dissertation.

Education Prerequisites

In order to enroll in an insurance doctor's degree program, a student must have earned a 4-year bachelor's degree from a regionally accredited college and have an undergraduate grade point average of at least 3.0. Students must also submit transcripts, essays, college entrance exam scores and letters of recommendation.

Program Coursework

Doctor of Philosophy programs in insurance and risk management contain the following classes:

Liability insurance
Property insurance
Health and life insurance
Risk assessment and management
Employee benefits
Microeconomics
Valuation
Research in corporate finance
Statistics
Capital market theory

Popular Career Options

Students with a Ph.D. in insurance and risk management are typically employed in the following areas:

University insurance professor
Insurance research and development specialist
Market research analyst

Source: http://education-portal.com/insurance_degree.html

State Farm Continues To Provide Lowest Insurance Rates

2012-01-28T14:00:00.001-08:00

State Farm Insurance Co., California's biggest auto insurer, intends to cut drivers' rates by 5.4%, an action that will pressure competitors to continue a downward price trend. The news Thursday means $133.8 million in premium savings for State Farm customers in California.

It provoked an angry dispute, though, between Consumers Union, the publisher of Consumer Reports, and state Insurance Commissioner Chuck Quackenbush over whether regulators should be investigating excess profits at insurers and ordering even greater premium reductions.

Huge sums are at stake in a state where driving is a necessity for most people. Of California's 20 million drivers, 15 million are insured. In 1995, the average premium for a 30-year-old motorist with a clean record was $566, while a 30-year-old with one ticket and one accident paid $1,129.

State Farm's proposed reduction requires Insurance Department approval. It follows a cut of 1.7% in September, and is the latest in a series of premium reductions.

Consumers Union policy analyst William Ahern replied with accusations that Quackenbush "has decided to protect excessive auto insurance rates and profits in California."

Source: http://articles.latimes.com/1996-08-16/business/fi-34920_1_state-farm
From Associated Press

Medicare Updates

2012-01-22T10:27:00.000-08:00

There's some bad news for those looking for easy ways to trim Medicare spending.

The Congressional Budget Office says two major approaches tested in recent years mostly failed to reduce spending.

Nonpartisan analysts looked at experiments that promoted better care coordination for the chronically ill, trying to keep them out of the hospital. They also studied experiments that changed the way doctors and hospitals get paid, rewarding quality instead of volume.

A report issued Thursday concluded neither approach reduced spending.

Care coordination increased spending in some cases, when added fees for monitoring patients were taken into account.

Payment for value only seemed to save money when providers were given a fixed amount and encouraged to use it efficiently.

Both approaches are part of President Barack Obama's health care overhaul.

Source: http://finance.yahoo.com/news/medicare-savings-ideas-missed-mark-220504316.html

Get the Best Home Insurance!

2012-01-13T14:09:00.000-08:00

Hunkered down at home in Great Falls, Va., during the blizzard of 2010, Doug Colley and his wife, Christina, discovered a sparking surge protector that quickly set their bedroom on fire. Engulfing smoke drove the couple out into the cold with only their coats and Christina's purse. Fire trucks from several area firehouses responded, but they couldn't reach the house because 3 feet of snow covered the couple's half-mile-long driveway. The Colleys watched as the fire consumed their home of 32 years and, along with it, a lifetime of belongings.

Build a Good Policy

Keep in mind that you're not insuring the market value of your land, just the cost to rebuild your home, garage and any other buildings. Your policy should include an inflation guard that is keyed to regional costs and, ideally, adjusts your coverage every year. Building costs can change not only with the economy but also after a disaster, when contractors and materials may be in short supply, says Don Soss, a vice-president of Fireman's Fund. That's one reason it's also smart to purchase extended-replacement coverage, which covers the difference if the price to rebuild exceeds your dwelling limit. Your policy probably already has 25% extra coverage built in, but you can buy more in 25% increments -- usually for $30 a year -- up to another 100%, says Michelle Rupp, an independent agent in Seattle.

New building codes often create a discrepancy between the limits of coverage and the actual cost to rebuild, says Kathleen Stalter, risk-services manager at Fireman's Fund. After a disaster, municipalities may quickly tighten their codes. Some insurers include full building-code coverage, but most include either an extra 10% of the dwelling limit or a flat $25,000, which may also have to go toward removal of debris. You can beef up your coverage by buying an endorsement -- often called a building-code upgrade. It will cost about $50 to $75 a year to double your protection to 20% of the dwelling limit.

Take Stock of Your Stuff

In the event of a total loss, you usually have 180 days to provide your insurer with a list of everything you owned, from sofas to soup spoons. Before the fire at their home, the Colleys had begun an inventory but hadn't finished it -- and it went up in smoke, too. "Think about having to imagine yourself in every room of your home, trying to remember everything in it," says Doug.

You can create a detailed listing or just take photos or make a video. Open cupboards, closets, drawers and storage boxes and shoot those, too. Not only will the images jog your memory, they will also assure insurance adjusters that your furniture really was high-end or antique, and not just starter stuff from Ikea. The Colleys have asked family members for holiday photographs taken in their home that show heirloom antiques in the background.

Get appraisals of valuables and, if necessary, purchase a personal-articles floater to cover them beyond the normal limits of your policy. Such coverage typically costs $17 per $1,000 of property value annually. Fireman's Fund even offers a "collections" endorsement that would cover the contents of a wine cellar.

Focus on the Fine Points

Rebuilding almost always takes longer than you anticipate, so look for a policy that provides 24 months of coverage for comparable housing and related expenses (called loss of use coverage). If your insurance company offers a fixed dollar amount with no time limit, divide that amount by 24 months to compare the coverage with that of other policies.

You'll need liability coverage in case you (or a family member) are legally responsible for causing injury to someone else at home or elsewhere. Given that medical (and legal) expenses can quickly mount, Rupp urges clients to buy as much liability coverage as they can afford. To increase the standard limit of $300,000 to $500,000 would cost about $20 annually, says Rupp.

Overlay your homeowners coverage with an umbrella policy providing at least another $1 million of liability protection. To determine your premium, insurers will assess your exposure to risk, including the number of homes you own (and their location), as well as your vehicles and whether you have young drivers in your family. The deeper your pockets and the higher your profile -- are you likely to be quoted in the media or do you sit on a nonprofit board? -- the greater your need for coverage.

You can get a $1-million umbrella policy for about $150 to $300 annually. The next $1 million of coverage will cost about $75; each $1 million after that, about $50. Before insurers sell you an umbrella policy, most will want you to have a minimum of $250,000 of liability coverage on your auto policy and $300,000 on your homeowners insurance, and they may require you to buy both policies from them.

By Pat Mertz Esswein | Kiplinger – Tue, Nov 29, 2011 11:21 AM EST
Source: http://finance.yahoo.com/news/upgrade-home-insurance-070000189.html

Read This: The best Life Insurance benefits!

2012-01-08T19:26:00.000-08:00

Life insurance is one of those financial products that can give people the heebie-jeebies. It can sound confusing and complicated, and it involves thinking about a very scary proposition: death.

But life insurance really isn't as frightening or complex as it seems. It's actually a fantastically useful and flexible estate-planning tool that can provide income-tax-free security for your loved ones. It can also provide liquidity to pay estate taxes, especially if your estate largely consists of assets such as real estate or a closely held business that you may be reluctant to sell to raise cash. (If the policy is owned by an irrevocable trust, the insurance payout can avoid estate taxes too.)

Here's a rundown of some of the basics of life insurance:

1 'How do I buy insurance?'

You can go directly to an insurance company or use a broker, either in person or online, that compares products from multiple insurance companies and can help you find the best quote.

You also can check if your employer, union or trade association offers a group life-insurance policy. Group life-insurance policies may not offer as much flexibility as some individual policies, but they typically don't require a medical exam -- a boon for those in poorer health seeking to be insured.

When you're shopping for policies, stick to companies with high financial strength ratings from firms such as A. M. Best, since the last thing you want when spending money for peace of mind is to have to worry about your insurer going bust.

Most individual life-insurance policies require you to get a medical evaluation so that the insurer can assess your health and longevity risks. That's typically arranged by your insurance broker or the insurer, at no cost to you. In most cases, a medical technician will come to your home or office to get some vital stats and blood and urine samples.

2 'Do I need insurance?'

You generally can skip life insurance if you're single with no dependent kids and don't expect to have a taxable or debt-ridden estate. Also think twice about forking over for life insurance if your premature death wouldn't affect the ability of your surviving partner to pay for daily living expenses.

But do consider life insurance if you have dependent children, are a business owner or if your spouse doesn't work or you have a big income disparity. In these cases, if you die prematurely, a life-insurance policy can help the survivor pay for your family's day-to-day cost of living, including mortgage payments or help your business remain viable after your death.

There are many variables to factor in when considering how much life insurance to buy. It depends on your current and projected income and assets, your family's annual living expenses, the length of the policy you are considering and whether you have any specific future economic needs -- such as a child's college tuition, a special-needs child who needs lifelong support, or expected estate taxes to pay off. Your insurance broker or salesperson can help you come up with a coverage amount that's suitable for your situation.

3 'Term or permanent?'

Life insurance, in its most basic form, can be divided into two categories: term and permanent, also called cash-value. Term life, the simplest and cheapest form of life insurance, is when you buy an insurance policy that lasts for a set period, typically 10, 20 or 30 years.

A term policy, which usually costs just a few hundred dollars a year if you're in good health, is appropriate for people who only want life insurance for a limited number of years -- such as until your children are grown or until you reach retirement age.

Permanent or cash-value life insurance, by contrast, lasts for the remainder of your lifetime. These policies are often used for specific estate-planning purposes, such as funding future estate taxes or for ensuring the continuity of a family business.

4 'Why the cost difference?'

Permanent insurance is more costly than term life insurance because it lasts longer and because it provides more than just a death benefit: It also has an investment component in which money accumulates tax-free within the policy.

In other words, a portion of your premium is placed in a separate investment account; this money grows tax-free while the policy is in force. (How it's invested depends on the policy.) As more money builds up inside the policy, you might eventually use this stash of cash to help you pay the policy's premiums.

Many insurers tout the tax-free investment benefits of cash-value policies. Not only does the money grow inside the policy tax-free, but your beneficiaries don't have to pay income taxes when they receive the policy's payout. A cash-value policy might make sense if you have already contributed the maximum amount to other tax-deferred investment accounts, such as 401(k)s and individual retirement accounts.

On the other hand, the higher premiums, commissions, and sometimes limited investment choices might not make a cash-value account worth it.

Some people choose to buy a special kind of permanent policy called a "second-to-die" or "survivorship" policy.

These policies pay out when the second person in a couple -- you or your spouse -- dies, and the money generally goes to your children or other heirs. They typically cost less than traditional permanent insurance because they are based on the life expectancies of two people, rather than one.

Posted by: Rachel Emma Silverman | The Wall Street Journal – Tue, Nov 29, 2011 3:29 PM EST
Source: http://finance.yahoo.com/news/know-life-insurance-101-040100569.html

Best & Worst Insurance Policies

2011-12-28T16:21:00.000-08:00

Fear of the future sells insurance. Because we can't predict the future, we want to be ready to cover our financial needs if, or when, something bad happens. Insurance companies understand this fear and offer a variety of insurance policies designed to protect us from a host of calamities that range from disability to disease and everything in between. While none of us wants anything bad to happen, many of the potential catastrophes that happen in our lives are not worth insuring against. In this article, we'll take you through 15 policies that you're probably better off without.

1. Private Mortgage Insurance

The infamous private mortgage insurance (PMI) is well known to homeowners because it increases the amount of their monthly mortgage payments. PMI is an insurance policy that protects the lender against loss when lending to a higher-risk borrower. The borrower pays for this insurance but derives no benefit. Fortunately, there are several ways to avoid paying for this unnecessary policy. PMI is required if you purchase a home with a down payment of less than 20% of the home's value. The small down payment is viewed as putting you at risk of defaulting on the loan. Put down at least 20% and the PMI requirement goes away. Alternatively, you can put down 10% and take out two loans, one for 80% of the sale price of the property and one for 10%, although interests rates can prevent the economics of this maneuver from working out in the homeowner's favor.

Visit the Insurance Center

2. Extended Warranties

Extended warranties are available on a host of appliances and electronics. From a consumer's perspective, they are rarely used, particularly on small items such as DVD players and radios. If you purchase a reputable, brand-name product, you can be fairly certain it will work as advertised and that the extended warranty is statistically likely to be unnecessary. If you spend $5,000 on a giant, flat-screen television, the policy is still unlikely to pay off, but might make you feel better. For everything else, forget it.

3. Automobile Collision

Collision insurance is designed to cover the cost of repairs to your vehicle if you are involved in an accident. If you have a loan out on the car, the loan issuer is likely to require that you have collision insurance. If your car is paid off, collision is optional; therefore, if you have enough money in the bank to cover the cost of a new car, collision insurance may be an unnecessary expense. This is particularly true if you are driving an old car, because cars depreciate so quickly that many vehicles are worth only a fraction of their purchase price by the time the loan is paid in full.

4. Rental Car Insurance

Most auto insurance policies offer additional coverage for the cost of car rentals, touting it as a useful feature if your car is ever involved in an accident and needs to spend some time in the repair shop. This may sound like a good idea, but in reality, most people rarely rent a car, and when they do, the cost is relatively low and hardly worth insuring against. Although rental car insurance is relatively inexpensive, amortized over the course of a lifetime you are still likely to spend far more than you will benefit.

5. Car Rental Damage Insurance

Many auto insurance policies already cover rentals, so there's no need to pay for this twice. Check your policy before you pay. Depending on where you rent the vehicle, you may also be able to pay a small fee for insurance on your rental when you pick it up at the rental center. If this fee is less than what you'd pay for a year in your old policy, choose the fee over the policy.

6. Flight Insurance

Flight insurance coverage is completely unnecessary. Despite media portrayal, airline accidents are relatively rare, and your life insurance policy should already provide coverage in the event of a catastrophe.

7. Water Line Coverage

Water companies have made an aggressive push to sell policies that cover the repair of the water line that runs from the street to your house. The odds are in your favor that you will never use this coverage, particularly if you live in a newer home. If you live an average suburban neighborhood and you do need to repair the water line, the distance to the street is short, the likelihood of a problem is low and repair costs are a few thousand dollars or less. The same goes for policies offered by other utility companies.

8. Life Insurance for Children

Life insurance is designed to provide a safety net for your heirs/dependents. Because children don't have heirs to worry about and, statistically speaking, most kids will grow up safe and healthy, most parents should not purchase life insurance for their kids. Instead, use the money that you would have spent on life insurance to fund an education plan or an individual retirement account (IRA).

9. Flood Insurance

Unless you live in a flood plain or an area with a history of water problems, don't even bother buying flood insurance. If none of the homes in the area has ever been flooded, yours is unlikely to be the first.

10. Credit Card Insurance

Purchasing coverage to pay your credit card bill in the event you cannot pay it is a waste of money. A far better idea is to avoid running up your credit cards in the first place, so you won't need to worry about the bills. Not only do you not save on the insurance premiums, you'll also save the interest on your debt.

11. Credit Card Loss Insurance

Federal law limits your liability if your credit card is stolen. Your out-of-pocket costs are limited to $50 per card and not a penny more. In fact, many credit card companies don't even try to collect the $50.

12. Mortgage Life Insurance

Mortgage life insurance pays off your house in the event of your death. Rather than add another policy - and another bill - to your list of insurance plans, it makes more sense to get a term-life policy instead. A good life insurance policy will provide enough money to pay off the mortgage and to cover other expenses as well. After all, the mortgage isn't the only bill your survivors will need to pay.

13. Unemployment Insurance

This coverage makes minimum payments on your bills if you are out of work, which sounds like an attractive proposition. A better plan is to save your money and build up an emergency fund instead. You won't have to cover the cost of the insurance policy and, if you are never out of work, you won't spend any money at all.

14. Disease Insurance

Policies are available to cover cancer, heart disease and other maladies. Instead of trying to identify every possible disease that you may encounter, get a good medical coverage policy instead. This way, your medical bills will be covered regardless of the problem you face.

15. Accidental-Death Insurance

Unless you are extraordinarily accident prone, an accident is unlikely. Major catastrophes such as car wrecks and fires are covered under other policies, as is any harm that comes to you while at work. Accidental-death policies are often fraught with stipulations that make them difficult to collect on, so skip the hassles and get life insurance instead.

When Choosing Insurance

There are so many policies to chose from, and they all cost money. While a certain amount of insurance coverage is necessary and prudent, you need to choose carefully. In general, broad policies that offer coverage for a multitude of potential events are a better choice than limited-scope policies that focus on specific diseases or potential incidents. Before you buy any policy, read it carefully to make sure that you understand the terms, coverage and costs. Don't sign on the dotted line until you are comfortable with the coverage and are sure that you need it.

By Lisa Smith | Investopedia – Mon, Oct 24, 2011 3:00 AM EDT
Source: http://finance.yahoo.com/news/15-insurance-policies-dont-070000254.html

Life Insurance

2011-07-18T19:03:00.001-07:00

Life insurance can protect your family and your assets. If you or your spouse should pass away, the right amount of life insurance coverage could allow surviving family members to pay off debts and maintain the same quality of life without having to sell investments or downsize your home.

Growing families mean growing life insurance needs

Many established families already have life insurance. A policy may have been purchased when a couple was newly married or upon the birth of their first child. For these families, the key isn't making sure life insurance is in place, it is ensuring that the family has the right level of coverage.

"Insurance needs increase because the standard of living increases," explains Marv Feldman, President and CEO of The Life and Health Insurance Foundation for Education (LIFE). "In many cases, these families have put themselves deeply in debt."

Feldman advises those with established families to remember that declining interest rates also impact life insurance needs. Generally speaking, families should anticipate investing the death benefit from a life insurance policy and drawing from the interest for regular living expenses. The capital should be preserved for emergencies or future needs. As interest rates decline, the death benefit should increase.

"Families should review numbers every year to every 18 months at a minimum," Feldman notes.

Term life insurance vs. permanent life insurance

Beyond the level of life insurance coverage, families must also determine whether to purchase term life insurance or permanent life. While permanent life, such as whole life insurance, provides guaranteed coverage so long as premiums are paid, term life offers temporary, less expensive financial protection.

The Minnesota Department of Commerce suggests that established families consider a combination of insurance coverage. According to the department, whole life insurance builds cash value that can be used for college tuition, while term life can be an inexpensive way to purchase the level of coverage needed to maintain a family's standard of living.

Feldman points out that determining the right level of coverage is important. Families should look at their cash flow to determine whether they can purchase the needed amount of coverage with term life, whole life or a combination of the two.

Source: http://www.compuquotes.com/categories/life-insurance/life-insurance-for-established-families.html

Health Insurace

2011-07-18T19:00:00.000-07:00

(NaturalNews) Federal Judge Roger Vinson ruled this week that the "individual mandate" portion of Obama's health care reform was unconstitutional, dealing a significant blow to the Obama administration's desire to force government-run health insurance on the entire U.S. population. Department of Justice spokespeople reacted with a sense of twisted desperation, calling Judge Vinson's decision "judicial activism" as if he were inventing new law. In reality, of course, Judge Vinson merely ruled to protect existing law as written in the United States Constitution.

Three years ago, even President Obama would have agreed with Judge Vinson's decision. In arguing against the idea of an individual mandate in government-run health insurance, President Obama said in 2008, "If a mandate was the solution, we can try to solve homelessness by mandating everybody to buy a house."

Obama's quote demonstrates the ludicrousness of the federal government requiring people to buy certain products or services in order to solve what the government perceives as a problem. If the government is allowed to dictate commercial behavior by forcing citizens to purchase things they don't want to purchase, then it won't be long before Washington starts forcing everybody to buy a U.S.-made automobile each year to support the auto industry... or pharmaceuticals, vaccines, and other products and services the government wants to push onto the people.

Judge Vinson cited this same argument in his 78-page ruling, in fact, writing:

"Congress could require that everyone above a certain income threshold buy a General Motors automobile -- now partially government-owned -- because those who do not buy GM cars (or those who buy foreign cars) are adversely impacting commerce and a taxpayer-subsidized business."

In a demonstration of the ridiculousness of governments forcing citizens to buy things, five South Dakota lawmakers have introduced legislation that would require all residents of that state to buy a firearm to provide for their own self defense. (http://www.argusleader.com/article/...)

The bill is, of course, being put forth solely to make a point: That governments have no business forcing citizens to buy things they don't personally want or even believe in.

But if Obama can force you to buy health insurance, there's no reason why someone else in Washington couldn't force everybody to buy a firearm, or a pound of broccoli each week, or a water filter, or anything else the government says is "for your own good."

The federal government has no power to force Americans to buy stuff

In light of the potential for runaway federal abuse of the Commerce Clause, Judge Roger Vinson correctly ruled that the U.S. Constitution does not grant the federal government the power to engage in "market dictatorship" activities such as requiring people to buy health insurance. Such power was never granted to the federal government in the U.S. Constitution (no, not even in the Commerce Clause, which was written to prevent states from enacting tariffs, not to grant the federal government power over all commerce), and therefore the federal government has no legal basis from which to enforce such mandates.

Congress, of course, rarely abides by the limitations on federal power as enumerated in the U.S. Constitution. That's why Congress passed Obamacare in the first place, even though the law blatantly violated the Constitution in requiring people to purchase a product many of them were ethically opposed to purchasing. (How many of us really want to be forced by Washington to send money to Big Pharma and the conventional medical industry?)

Congress, it seems, wants the federal government to essentially be able to have absolute power over the American people; to tell them what to buy, how they're supposed to react to tragedy (Giffords shooting), and even what they're not allowed to read (health claims on nutritional products). And yet, the primary purpose of the U.S. Constitution is to place limits on federal power, and it is the proper role of federal judges to strike down laws when such laws clearly attempt to undermine the Constitution by engaging in unjustified expansions of federal power.

On to the Supreme Court

The ultimate legality of Obama's health care law will, of course, be decided by the U.S. Supreme Court, and it's anyone's guess how the Supreme Court will rule on the constitutionality of the individual mandate (or the law in its entirety). Through American history, the U.S. Supreme Court has made some rather wild and seemingly-irrational decisions that supported federal government's power grabs, such as the case of Wickard vs Filburn as we reported here on NaturalNews: http://www.naturalnews.com/030799_f...

At other times, the U.S. Supreme Court has limited the power of the federal government in the context of the Commerce Clause. It seems that the high court's decisions in these matters rest on whether it believes the federal government has "a compelling interest" in the matter which would, in the opinion of the Court, justify what is obviously the federal government's attempt to establish vast overreaching powers that would intrude upon individual liberties.

This case may not even be heard until 2012, and until that time, Obamacare rolls forward, causing steady increases in health insurance premiums and an ongoing loss of jobs as U.S. corporations move their operations to other countries where health care mandates don't bankrupt them. In order to protect its favorite corporations and unions, of course, the Obama Administration has now granted over 700 waivers to various business organizations (http://online.wsj.com/article/SB100...). Recipients of the waivers include PepsiCo and various unions.

This brings up the obvious question: Obamacare is so good that Americans have to be forced to buy it while PepsiCo -- a company whose products actually contribute to health care costs in America through obesity and diabetes -- is exempted from participating? How is it that powerful corporations are getting waivers from such a "great" health care system, but individuals get a knock on the door from the IRS if they try to opt out?

This is how tyrannical governments work: They pass oppressive, overreaching mandates and then exempt their own buddies and corporate supporters from any such requirements. Everyday working people, meanwhile, are locked in and actually penalized by tax authorities if they try to avoid buying a health insurance product they never even wanted in the first place!

Efforts under way to repeal Obamacare in the Senate

So far, 26 states have filed suit against the federal government to halt Obamacare. They're doing this because Obamacare threatens to bankrupt the states. These states are, in essence, fighting for their financial survival.

Anticipating the devastating financial consequences on states if Obamacare remains law, Senate Republican Leader Mitch McConnell announced yesterday that he plans to attach an Obamacare repeal effort to an upcoming funding bill that's pending in the Senate. This effort reportedly has the support of all 47 Republican senators.

Any such attempt to repeal Obamacare, of course, is almost certain to be vetoed by President Obama. The federal government is fighting hard to force the American people -- and the states -- to accept this Washington power grab that actually feeds right into the monopolistic (and health-harming) business practices of the conventional medical industry, Big Pharma, the vaccine industry and even the cancer industry.

Obamacare care is, in effect, the law that guarantees a Big Pharma medical monopoly by forcing people to financially support it even if they would rather support natural medicine or the healing arts.

Yet another reason for the states to distance themselves from Washington

In the end, I believe this issue will provide yet more justification for states to consider distancing themselves from Washington's runaway power grab efforts. When the federal government attempts to enact measures that will financially ruin the states, those states have little choice but to reject and nullify such federal mandates.

That's exactly what we're seeing right now with the rapid growth of the Tenth Amendment Center (www.TenthAmendmentCenter.com) and its efforts to encourage states to protect themselves from the financially and ethically bankrupt policies of Washington.

States have the power to simply say NO to Washington and refuse to implement unconstitutional laws, especially when those laws would cause financial devastation. In fact, it is not merely a state's right to resist such tyrannical laws, but a state's duty to resist. This is why the Tenth Amendment clearly spells out, in plain language, that those powers not granted to the federal government are reserved for the states or the People. (http://en.wikipedia.org/wiki/Tenth_...)

Nowhere in the Constitution was the federal government given the power to force the American people to buy health insurance, or automobiles, or vaccines, or pharmaceuticals for that matter. Washington's attempt to force the American people to make purchases they do not wish to make is un-American at its core, and almost certainly illegal as well.

Might does not make right. Even while Washington attempts to bully states into accepting this ill-considered law, those states are increasingly resisting it out of a sense of financial sanity if nothing else. Those states that wish to go along with every loony idea that comes out of Washington will, in due time, suffer the same fate as the federal government itself: Outright bankruptcy followed by serious political destabilization.

Remember: You cannot force people to buy health insurance they don't want and often don't need. And you can't stick a high-dollar IRS fine in someone's face and tell them they're free if they don't "voluntarily" buy into the government's health insurance scheme. Freedom means we have a choice, and the Obama administration doesn't want Americans to have a choice on this matter.

They want Americans to basically sit down, shut up, and do what they're told. As even Egyptian dictator Mubarak is learning all of a sudden, ruling over a country is a whole lot easier when people don't fight back.

Learn more: http://www.naturalnews.com/031183_Obamacare_unconstitutional.html#ixzz1SVqGSsoD

What is Insurance?

2011-07-04T19:41:00.000-07:00

Insurance is a form of risk management in which the insured transfers the cost of potential loss to another entity in exchange for monetary compensation known as the premium. (For background reading, see The History Of Insurance In America.)

Insurance allows individuals, businesses and other entities to protect themselves against significant potential losses and financial hardship at a reasonably affordable rate. We say "significant" because if the potential loss is small, then it doesn't make sense to pay a premium to protect against the loss. After all, you would not pay a monthly premium to protect against a $50 loss because this would not be considered a financial hardship for most.

Insurance is appropriate when you want to protect against a significant monetary loss. Take life insurance as an example. If you are the primary breadwinner in your home, the loss of income that your family would experience as a result of our premature death is considered a significant loss and hardship that you should protect them against. It would be very difficult for your family to replace your income, so the monthly premiums ensure that if you die, your income will be replaced by the insured amount. The same principle applies to many other forms of insurance. If the potential loss will have a detrimental effect on the person or entity, insurance makes sense. (For more insight, see 15 Insurance Policies You Don't Need.)

Everyone that wants to protect themselves or someone else against financial hardship should consider insurance. This may include:

Protecting family after one's death from loss of income
Ensuring debt repayment after death
Covering contingent liabilities
Protecting against the death of a key employee or person in your business
Buying out a partner or co-shareholder after his or her death
Protecting your business from business interruption and loss of income
Protecting yourself against unforeseeable health expenses
Protecting your home against theft, fire, flood and other hazards
Protecting yourself against lawsuits
Protecting yourself in the event of disability
Protecting your car against theft or losses incurred because of accidents
And many more

- Source -
http://www.investopedia.com/university/insurance/insurance1.asp#axzz1RC9QxfxO