Insurance Breakdown

Affordable Life Insurance Without the Health Exam

2009-02-20T19:55:00.000-08:00

If you're an adult, chances are you're in debt. What would happen to that debt if you should die unexpectedly? It's not likely your debtors would write it off. It's far more likely they'll pursue your estate or surviving spouse to recoup the debt. And money taken from your estate is money taken from your survivors - be they a spouse, children, parents or even siblings.

"If you have debt that will survive you, you need life insurance to protect loved ones left behind," says Scott Luchesi, president of Garden State Life Insurance. "In today's economic climate, where debt is more prevalent than at any other time in our history, life insurance is a must for virtually every debt-carrying adult."

Life insurance is no longer a families-only financial planning tool. Increasingly savvy young, single professionals are also opting for life insurance as a way to ensure that their student loans, credit card debt, car loans and other debts won't diminish the estate they may leave behind to parents, siblings or other survivors. Families also continue to rely on life insurance to replace the deceased's income, pay off mortgages and provide for children's education.

Stiff competition in the insurance industry has created a new crop of affordable, exam-free term products, like Garden State's BudgetGard. These are continuing to grow in popularity as more consumers realize that term life provides the best coverage value for their money, and is more convenient and less intrusive than applying for a life insurance policy that requires a medical exam.

"With term life, you purchase a policy with affordable monthly premiums for a specific term," says Luchesi. "If you die during that term, your beneficiary receives the full policy value, just as they would with a whole life policy. The advantage to you is that the premiums are generally far lower for term than with other types of policies, and you can use that savings in premium to apply more money towards reducing your debt more quickly or saving for your future."

With BudgetGard term life, you won't need to take a health exam and your premium is guaranteed not to increase for the level premium period you choose - one, seven, 15 or even 20 years.

To obtain a fast, free quote for term life insurance, visit www.budgetgard.com

Claims That Boost Your Insurance Rates

2008-06-26T19:44:00.000-07:00

When should you make an insurance claim?

For many, the answer is a no-brainer: "Whenever I have an accident or suffer damage to my house or car."

Unfortunately, the decision about whether to file a claim is rarely so simple. In some cases, making a claim may cause an insurance company to raise your rates.

In other instances, the decision to file a claim could put your name into a database that makes it difficult to get or maintain coverage in the future.

Insurance is there to give you peace of mind and to restore a damaged car or property to its original state.

Click here for the full article.

7 Health Insurance Secrets You Should Know

2008-03-06T19:24:00.000-08:00

Health insurance companies like to save money, and they have secret ways of doing it. Here’s how to win out when they don’t want to pay:

1) Out-of-network providers. If you purposely use an out-of-network doctor, you’re probably going to have to pay. But if you had no choice, such as when the hospital chooses the anesthesiologist, you may fall under the “I had no say, so I don’t have to pay” rule, in which the insurer most often has to pony up. You may also find that your insurer is using an out-of-date network provider list – you can often find a current list for your network posted on the Internet. Check it out and inform your insurer if your doctor is indeed on the list.

2) Your insurer says you’re not covered for certain benefits, such as infertility coverage. Some states require coverage for some benefits, but not others. The best way to find out for sure is to check with your state insurance commissioner.

3) Your company isn’t paying, but is requesting releases to view your medical history. They may be fishing – that is, they may be trying to catch you out on an omission when you first applied for insurance with them. Stall, and don’t sign. Most review processes last 60 to 90 days, and after that time they pay.

4) Your insurer says you received treatment that’s not covered, such as massage sessions for lower back pain. Ask your doctor to tell the insurer he’s going to file a complaint with the state medical board. But don’t try to file a complaint yourself, since you may do more to hurt your case than help it.

5) If you think you need a test, do some research on the Internet and talk up your symptoms with your doctor. Most insurers pay when a patient has physical complaints doctors can’t ignore.

6) Get drugs cheaper. Buy generics. If they don’t make them, try mail ordering drugs, which is often less expensive. When all else fails, if you’re using a medicine long-term, such as for allergies, try to get your physician to write a prescription for several months supply, thereby avoiding extra co-pays.

7) If your insurer absolutely refuses to cover an illness or operation, try a patient advocate. Advocates make their money by helping you, and usually request only a small retainer fee up front. To find one, contact the Patient Advocate Foundation, or check with a medical association connected with a particular condition, such as the Multiple Myeloma Association.

Many Unprepared For Retirement Healthcare

2008-02-22T17:34:00.000-08:00

Forty-four percent of U.S. adults say they are guessing how much money they'll need in retirement and many underestimate healthcare costs, a study says.

The survey by the Center for Retirement Research at Boston College found that there is a large increase in the number of working Americans who likely won't be financially prepared to retire -- largely due to the escalating cost of healthcare.

The National Retirement Risk Index, released today by the Center for Retirement Research showed that 61 percent of today's workers will be at risk for not being financially prepared to retire -- a 17-point increase from the previous index in July 2007.

A 2007 study by the Employee Benefit Research Institute said that couples need to save about $300,000 in retirement to cover health expenses, assuming they live to average life expectancy and Medicare benefits remain at current levels.

"Medical expenses have increased 43 percent in the last five years and will likely increase at a higher rate compared to overall consumer spending," Paul Ballew of Nationwide, a Columbus insurance and financial services organization, said in a statement. "And, healthcare now accounts for more than 20 percent of all personal spending; double what it was in 1970."

Auto Insurers In Texas Raising Their Rates

2008-02-06T01:29:00.000-08:00

Customers of the Texas'largest auto insurers are seeing rates jump this year anywhere from an average 1.8 percent to an average 12.4 percent. Farmers, State Farm County Mutual, Allstate Indemnity and Mid-Century began notifying state regulators about the increases in late December.

Under the file-and-use system adopted in 2003, insurers can implement rates immediately after filing them with the department, which then can challenge them upon review and demand refunds. The insurance companies say the rate increases are necessary because of higher anticipated losses.

State Farm County Mutual Insurance Co.'s 5.5 percent statewide average increase affects 6 percent of State Farm's 3 million auto customers in Texas. State Farm County Mutual Insurance Co.'s 5.5 percent statewide average increase affects 6 percent of State Farm's 3 million auto customers in Texas. The increase is being implemented on all new and renewing customers effective Dec. 31. Customers of State Farm's other much larger unit, State Farm Mutual Automobile Insurance Co., will not see a rate increase.

Farmers is imposing a 9.9 percent statewide average increase; and Mid-Century, which is a Farmers unit, is raising its rates an average 4.5 percent. Both went into effect Friday for existing and new customers.

Allstate's statewide average 12.4 percent increase goes into effect March 7 for existing customers of the company's subsidiary Allstate Fire and Casualty Insurance Co., which insures about 420,0000 policyholders and is the only Allstate unit in Texas taking new auto customers. Allstate Indemnity customers, which insures many of the company's 1.9 million other customers, will see an average 1.8 percent increase. Allstate last increased rates 3 percent in July.

This year, the company also increased a discount to 5 percent from 2 percent for customers who have their payments automatically deducted from their checking or savings accounts.

Eight Things You Should Know About Auto Insurance

2007-12-21T17:12:00.000-08:00

From Insurance.com

Dealing with the ins and outs of auto insurance can be as tricky and confusing as trying to untie the Gordian knot. Although we can`t help you with the knotty Gordian problem, the following recommendations could help you figure out some of the more complicated points of auto insurance.
1) Determine appropriate coverage.
Help control the price you pay, just ask American Insurance Association executive Dave Snyder. For example, Snyder notes that half of your auto insurance bill covers liability and "that has to do with how you are going to use the vehicle, such as for commuting to work and your driving record. If you`ve got a clean driving record, you figure to pay less for insurance than you would if you had a speeding ticket on your record. You can control the other half of your premium which covers damage or loss to your vehicle, comprehensive and collision coverage."

2) Shop around for insurance.
"In most states," Snyder reports, "there are hundreds of insurers competing for business, so it`s possible to save hundreds of dollars by obtaining quotes from different auto insurance providers." Picking up on Snyder`s theme is his AIA colleague, Nicole Mahrt. Mahrt urges you to work with your insurance provider to get more than one quote. "It pays you to shop around, especially if you feel you`ve been paying too much."

3) Look for insurance discounts.
"Many insurers will give you a discount if you buy two or more types of insurance from them, for example auto and home insurance," confirms John Marchioni, senior vice president of Personal Lines for Selective Insurance, in Branchville, N.J. More cost-saving suggestions from Marchioni: "Ask about discounts for air bags, anti-lock brakes, daytime running lights and anti-theft devices."

4) Consider taking a higher deductible.
"You could lower your insurance bill by increasing your deductible," Mahrt says. "But just make sure you can pay the higher deductible if you file a claim."

5) Look into "stacking" coverages if you file an insurance claim.
Insurance trade group officer Daniel Kummer explains that stacking uninsured/underinsured motorist coverages means "you can collect from more than one of your auto insurance policies. Most states prohibit this practice, but there are about 19 states that either allow stacking or don't address the issue either through legislation or litigation," according to Kummer, director of personal insurance for the Property Casualty Insurers Association of America. "Be sure to check your auto insurance contract to see if it's allowed. "Be advised that you`ll likely pay a higher insurance premium if you have stacked coverage. "It could be 10% to 30% more depending on the litigious nature of the state in which you reside," says Kummer.

6) Check with your insurance provider BEFORE buying a car.
"Your premium is based in part on the car`s sticker price, the cost to repair it, its safety record and the likelihood of theft," answers Selective`s John Marchioni. Remember to avoid shopping by price alone. "You want an agent and a company that answer your questions and handle claims fairly and efficiently," emphasizes Marchioni, senior vice president of Personal Lines for Selective Insurance.

7) Notify your auto insurance company as soon as you change companies.
"Be sure to cancel your old policy," suggests PCI`s Dan Kummer. "Do it the same day, but don`t cancel your old policy until you`ve lined up a new contract. That`s important because some states like New York will fine you for the number of days you go without insurance." One last thought from Kummer on the subject: "Most auto insurers specify in your contract that you can terminate your policy any time you want by informing your company in writing about the date you wish that coverage be terminated or you can do that over the phone.

8) Pick the insurance payment option that best fits your budget.
"Generally, most companies will give you the ability to pay over time, but that comes at a price," says Kummer. "Your payment could increase a few dollars each time you pay by installment. Insurers can accept payments monthly, quarterly, or every six months, what ever is most convenient for you. Remember, though, that the more you break down your payments, the more the cost adds up."

Health Plans Could Share More Information

2007-12-11T16:40:00.000-08:00

Health insurance plans could do a better job of sharing important information with their customers, enhancing patient safety, a U.S. report said.

The eValue8 report of health plan performance released at the National Business Coalition on Health's annual conference in Scottsdale, Ariz., includes data on 200 health plans and health insurers that cover 100 million Americans.

A survey by the National Business Coalition on Health found 100 percent of the health plans said they offer provider directories, 58 percent of health plans indicated they provide information on office hours and 60 percent said they provide publicly available, evidence-based measures of quality.

However, 28 percent provide mortality or complication rates where applicable and 31 percent provide patient experience data.

Consumers are rarely informed about which physicians have adopted health information technology (i.e. computerized records), 28 percent of plans provide information on a physician's accessibility of e-mail communications, 15 percent include information on availability of Web consultations and 10 percent include information on prescribing.

Insurance Covers Preventive Care

2007-11-21T19:48:00.001-08:00

Most high-deductible health plans linked to health savings accounts provide first-dollar coverage for vaccines, screenings and physicals, a U.S. survey finds.

America's Health Insurance Plans surveyed its members to examine the preventive benefits provided by high-deductible health plans, or HDHP, which are policies compatible with a health savings account, or HSA. The survey found most HSA/HDHP policies cover recommended preventive benefits on a "first dollar" basis -- without regard to whether the deductible is met.

Ninety-nine percent of the HSA/HDHP policies purchased in the large-group market and 96 percent of the small-group market provide first-dollar coverage for preventive care.

One hundred percent of the HSA/HDHP policies offer first-dollar coverage for adult and child immunizations; well-baby and well-child care; mammography; Pap tests; and annual physical exams and screenings. Nearly 90 percent provide first-dollar coverage for prostate cancer screenings and 83 percent offer this coverage for colonoscopies.

AHIP is a trade association representing nearly 1,300 member companies that provide health insurance coverage to more than 200 million Americans

Long Term Coverage For Baby Boomers

2007-11-08T17:29:00.000-08:00

According to a recent survey, most U.S. baby boomers questioned said they believed that Medicare or "other health insurance" will pay for their long-term care but are wrong.

The survey of 2,000 U.S. baby boomers ages 45 to 61, by StrategyOne for America's Health Insurance Plans, found 54 percent of baby boomers said they think Medicare will pay for long-term care services, while 44 percent said they believe "other health insurance" will pay.

In reality, Medicare doesn't, cover long-term care indefinitely and Medicaid will cover these services but only after individuals spend down nearly all of their assets, said Robert Moran, of StrategyOne.

"Baby boomers believe they have more coverage than they actually do, giving them a false feeling of financial preparedness to handle long-term care costs," Moran said in a statement.

The survey found that 30 percent of baby boomers think they have long-term care coverage, but the National Association of Insurance Commissioners says only some 5.2 million U.S. adults have long-term care insurance -- even if all those covered were boomers, which they are not, that would only account for 6.6 percent of the U.S. boomer population.

The survey conducted from September to October has a margin of error of 2.1 percentage points.

California Cracking Down On Uninstured Motorists

2007-10-29T19:38:00.000-07:00

Millions of uninsured drivers in California could have their license plates yanked or their cars immobilized as part of a crackdown being considered by Insurance Commissioner Steve Poizner.

Poizner is huddling with his political advisors and consulting potential allies about putting an initiative on the November 2008 ballot. The measure would give law enforcement broad new powers to go after those who flout the law by driving without insurance.

Please click here for the rest of the article.

Tips On How To Make Life Insurance Claims

2007-10-11T19:02:00.000-07:00

By Sandra MacLean

Life insurance claims can be paid quickly if there are no complications. In fact one source states 91% of life insurance claims are paid within five working days.

When an insured person dies, it is the responsibility of the beneficiary to file life insurance claims to collect any death benefits. It is important to get the claims process under way as soon as possible because most policies have a time limit to file a claim.

Family members often don't file a life insurance claim because they don't even know that the benefits exist. A search for life insurance policies should be included in winding up any estate.

You may be able to track down a policy by checking the person's banking records of payments made to any insurance company. You can check with the agent for other insurance policies such as car or house insurance to see if there was also life insurance. Or you could check with employers about any group policies that may be in effect or to see if there are any payroll deductions for individual coverage.

To get started, the beneficiary should ask the agent or company for a claim form. They will need the name of the insured, the policy number (and the policy itself if available) and a certified copy of the death certificate. The statement of claim should include the full name and address of the beneficiary or the person making the claim.

Once proof of the death of the insured individual reaches the insurance company's claims department, they begin a process of verification. They make sure there actually is a policy in effect and that all premiums have been paid. They make sure the right person is identified as the beneficiary. They check the policy for any limiting clauses, including loans against the cash value of the policy. They verify that all the information in the policy is accurate.

In most situations life insurance claims are paid without dispute but the life insurance company will review each claim carefully before paying out their money and some life insurance claims are denied or delayed.

The company could refuse to pay a claim because the insured committed fraud when applying for the policy or the insured committed suicide.

After fraud on the part of the policy holder, the most common reason life insurers use to deny claims is that there was a "material misrepresentation" on the life insurance application.

Just the fact that a claim is made in the first two years the policy is in force will lead to closer scrutiny. If the beneficiary intentionally killed the insured person, the company can refuse to pay the death benefit no matter how long the policy has been in effect.

High life insurance claims are also more likely to be examined very closely.

There can be complications as a result of divorce. If you are an ex-spouse, you will need to know the law in your area to determine whether or not your status as a beneficiary may have changed. Even if you were named beneficiary prior to your divorce, if the insurance is not part of the divorce settlement, you may be out of luck. If there are conflicting claims, the company may turn the money over to a court and the court will hold the money until it decides who is entitled to receive the benefit.

Having done all its investigation, the company will either pay the claim or notify the beneficiary if there is a problem with the claim. If there are complications in your situation, it is important that you seek help from those who are knowledgeable and experienced concerning life insurance claims.

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E. MacLean is an enthusiastic researcher who believes an educated consumer makes better buying decisions. The research is provided to help you begin your education - be sure to get all your questions answered before making your decision or purchase. Life Insurance Providers

Most Lack Health Insurance For Long Period

2007-10-01T19:48:00.000-07:00

Nearly 90 million Americans, or 35 percent of U.S. adults and children under age 65, had no health insurance during some part of 2006 and 2007, a study said.

Most of the uninsured individuals lacked coverage for lengthy periods of time: nearly two- thirds were uninsured for six months or more, and more than half were uninsured for nine months or more, a report by the non-profit group Families USA found -- using data from the U.S. Census Bureau's annual Current Population Survey and the Survey of Income and Program Participation.

Seventy-nine percent of those uninsured were in working families: 70.6 percent were employed full-time, and 8.7 percent were employed part-time.

The report also said there were 17 million more people experiencing a loss of healthcare insurance during the two-year period compared to 72.5 million who went without health coverage in 1999 and 2000.

Although nearly half of the uninsured were non-Hispanic whites, the report found disparities in the uninsured rate based on race and ethnicity. Among those under age 65, approximately 26 percent of non-Hispanic whites were uninsured in the past two years, compared to 45 percent for non-Hispanic blacks and 61 percent for Hispanics, the report said.

Term Life Insurance for Hazardous Occupations

2007-09-20T18:42:00.000-07:00

By Sharon Taylor

Those who choose to really live life on the edge need to make sure they have adequate life insurance coverage as the risk for losing their lives goes up dramatically. One of the biggest aspects that underwriter’s evaluate when choosing to grant coverage is an individual’s career choice and their overall choice of regular hobbies. If an applicant is of greater risk to a carrier, premiums are higher and possibly issued for a certain number of years. An applicant could be subject to review upon renewal. The bottom line is that applicant’s who risk their lives regularly will pay a higher premium than the average person as rates are tailored according the average person.

Term Life Insurance for those with Hazardous Occupations

For some people, regular participation in hazardous activities is not a matter of hobby but is their livelihood. Many people count extreme activities as their primary source of income, such as pilots, aviation or scuba diving instructors or mountain climbing guides. Top professional surfers, race car drivers and motocross riders depend on their thrilling professions to make a living. Unfortunately, all these people can expect higher life insurance premiums.

These professions, however, do not necessarily mean unreasonable term life insurance rates. You can still get affordable coverage if you obtain necessary licenses and take all the classes you can to make you experienced and prove that you are safe. For example, commercial airline pilots are not subject to extra fees. It is best to inquire about a carrier’s necessary requirements so that you can meet them before applying for coverage.

Participants of Extreme Sports

Many thrill seekers like to engage in extreme sports. Some common extreme sports include, skiing, snowboarding, skateboarding, dirt biking, hang gliding, mountain climbing and scuba diving. Other more extreme sports are bungee jumping, parachuting, and hang gliding.

Insurance companies are not “all or nothing” in their regulations. For example, most people do not regularly participate in the more novel extreme activities like bungee jumping and parachuting. Those activities are generally reserved for milestone events such as birthdays or anniversaries. In other words, premiums are not going to be affected by trying something once.

To be fair, most life insurance companies will charge a flat “extra” on your premium to cover the risks incurred for regularly participating in extreme sports and activities. This flat extra will usually double the average rate. As you get older, however, your rates could nearly triple – as age is always a factor in underwriting policies anyway. As you age, most people start slowing down in any regular extreme sport participation. In that case, immediately contact your provider and your rate will drop effective immediately. Another possibility of obtaining cheaper term life insurance is if you asked to be covered for everything except the extreme sport in which you regularly participate. For example, if you regularly scuba dive, you would be covered for any death occurrence except in the case that you die while scuba diving. It seems extremely fair to be covered and paid for everything except the excluded activity you list.

The best way to find the best possible coverage if you regularly participate in extreme sports or activities is to shop around for insurance. Premiums that cover adrenaline junkies can vary significantly between carriers. If you are involved in a relatively new high-risk sport, many companies may not have developed their rate policies for that specific activity. On the other hand, other carriers may be charging way too much since they are one of the few to cover it.

If you love extreme sports or your profession involves putting your life at risk more frequently than most, be sure you shop around and compare rates before buying a life insurance policy. Educate yourself as much as possible about your sport or activity. For instance, if there are licenses you can get, it is wise to obtain them. Take any class you can that will make you more experienced in that activity.

Sharon Taylor writes articles for eQUOTE Life Insurance. eQUOTE is a leading Internet life insurance company providing families with no-obligation term life insurance quotes and other helpful insurance resources

Travel Insurance - Things To Consider While Buying It

2007-08-20T15:31:00.000-07:00

Editor's Note: With the current hurricane season, I wanted to find an article about Travel Insurance. I hope you enjoy reading the article.

By Allan Elvin

As the world today has become a global village, the need of travelling from its one corner to other has become widely in need. Besides, too much uncertainness caused by various reasons like terrorism, air crash, etc. has posed a serious need to have an insurance while one travels. As there are different types of travel insurance, picking one that is most suitable to you is tough task. Even if you have picked the one, there are several important things to be known by you to have a good insurance deal.

The very first thing you need to think well is about the cover you will be having through this insurance. Check whether your cover is enough to protect you against all types of mishap taking place. Normally, a travel insurance will cover the insurer for their lost, stolen luggage and cash, delays on departure, holiday cancellation, etc. Medical treatment is another benefit you avail through the insurance.

While choosing the insurance to buy, check that the insurance is providing you ample of medical security. Most of the insurance will give you 24-hour medical assistance. Besides, you should also be aware that there are certain circumstances in which the insurance doesn't offer your any cover. if you lose your valuables during the tour due to your carelessness, you will not be paid any compensation. Likewise, a normal insurance will not give you any cover when you are on adventurous sports tour which includes activities like skiing, trekking, diving, etc.

The other important consideration you have to take while reading guidelines and policies of the insurance companies. Clear all the doubts with the insurance representative regarding the guidelines and payments of premiums. Travel Insurance intends to help travellers in whatsoever possible way it is desired. It keep you at utmost ease like a reliable friend during the tour.

Allan Elvin is an MBA in Finance and has a rich experience of writing on topics related to finance. He professes special interest and expertise in Travel Insurance and in guiding you on its various details.

RV Insurance Key For Long Road Trips

2007-07-09T15:12:00.000-07:00

Thousands of RV owners across the state are gearing up for a summer of traveling and camping trips.

If you own an RV or you're looking to buy one, make sure it's properly insured before you hit the roadway. This simple step could save you from a summer's worth of headaches and financial burdens.

"The main point of a vacation is to get away from it all," said Karl Newman, NW Insurance Council president. "The last thing you want is the double whammy of having an accident and then finding out you don't have the right insurance on your RV."

Your RV is more than a car and insurance for your RV should reflect that. Usually, RV insurance will cover more than what your car insurance covers.

The NW Insurance Council offers the following tips to help you be sure you've properly insured your recreational vehicle:

Consider insuring your RV on its own policy, rather than adding it to your auto policy. You keep many items in your RV that you wouldn't normally keep in your car such as furnishings, jewelry, laptops, video recorders and clothing.
Coverage is available in the event of loss or damage to certain items outside the RV up to 25 percent of the replacement cost.
If parked at a campsite, you could be liable if someone is injured in the surrounding area.
If your RV is damaged while you're traveling, you'll need a place to stay and a way to get there. A standard auto policy may not cover these losses or RV towing, which could cost you thousands of dollars.
The high value of many RVs and the potential for extensive physical damage from an accident may mean you'll need additional coverage. Evaluate coverage available through your auto insurance company. If the coverage is not adequate to meet your needs, explore coverage with a company or agent who writes policies specifically designed for RVs.

Northwest readers, if you want more information on insuring your RV, contact NW Insurance Council at (800) 664-4942 or info@NW Insurance Councilonline.org.

NW Insurance Council is a nonprofit, consumer education organization funded by member insurance companies.

Mississippi AG Sues State Farm Over Katrina Settlement

2007-06-12T15:17:00.000-07:00

Mississippi Attorney General Jim Hood sued State Farm Fire and Casualty Co. on Monday, claiming the company failed to honor an agreement for a mass settlement of claims over Hurricane Katrina damage.

In January, Hood agreed to drop State Farm from a lawsuit his office filed against several insurance companies for refusing to cover damage to homes from Katrina's storm surge.

Hood did that after State Farm settled with lawyers for homeowners on a $50 million payout to about 35,000 southern Mississippi policyholders who hadn't sued the company but could have their claims reopened.

But the pact fell apart after a federal judge refused to endorse it. Hood has said he didn't negotiate the terms of that settlement and shared the judge's concerns about the deal.

The state is seeking compensatory and punitive damages against the Bloomington, Ill.-based insurer for an alleged breach of contract. Hood's office filed the suit Monday in Hinds County Circuit Court.

Hood did not rule out reopening a criminal investigation that he ended in January as part of the agreement. Hood's office was investigating allegations that the company had fraudulently denied policyholder claims after Katrina.

During a news conference Monday, Hood said the new lawsuit should help thousands of Gulf Coast policyholders, many of whom he says are still living in government-issued trailers because of State Farm's refusal to pay claims.

"They ought to be ashamed of treating their policyholders like this," he said.

State Farm spokesman Mike Fernandez said Hood's lawsuit suggests he is "more interested in making headlines in an election year than in making headway for the people of Mississippi."

"You have to wonder," Fernandez said in a written statement, "what would motivate Attorney General Hood to disrupt an agreement that mirrors the one he was 'happy to announce' on Jan. 23 and asked other insurers to emulate as 'a step to recovery' two days later?"

After the January settlement agreement fell apart, State Farm reached a separate but similar deal with state Insurance Commissioner George Dale. That pact also calls for the company to reopen and possibly pay tens of thousands of claims, but it isn't subject to judicial oversight.

State Farm and lawyers for policyholders had presented the original agreement for a mass settlement to U.S. District Judge L.T. Senter Jr., who is presiding over hundreds of lawsuits that Mississippi homeowners filed against their insurers after the Aug. 29, 2005, storm.

Senter refused to sign off on the deal, however, saying he needed more information about how many policyholders would benefit from the mass settlement and how much money would be guaranteed.

Hood said Monday that State Farm should have provided Senter with more specific information to live up to the terms of the agreement, which says the company should make "an offer of settlement to the policy holder based upon criteria and guidelines approved by" a federal judge.

My Vehicle Is A Year Older, Why Isn't My Premium Going Down?

2007-06-08T16:13:00.000-07:00

By Gary Brown

That is a question I have been asked many times. It is a fair question that is fairly easy to answer. The next time you receive your auto declarations page in the mail, take a look at the various coverage listed.

You certainly see Collision & Comprehensive. Those make a good portion of your premium too. But when it comes to items on your policy that have much to do with your "aging" vehicle, that is about it.

It's the other stuff

Many insured's simply think about a Total Loss when asking why their premiums are not going down as the age of their vehicle goes up. Sure, your insurance company may give you less each year for that vehicle if it is totalled in an accident or stolen and not recovered.

But what about your vehicle if it is NOT totalled in a accident or what happens if your vehicle IS recovered after a theft?

What most consumers may not realize is this - the cost to repair that older vehicle is not going down. Are automotive parts getting less expensive just because your vehicle is a couple of years older? Do Labor costs to fix your vehicle get less expensive each year or more expensive?

Hopefully, we all can agree on the answers to those two questions.

When you are at-fault

What about when you are at-fault in an accident? The bodily injury portion of your policy pays for injuries in the "other" vehicle, not yours. And when you hit someone else, your property damage coverage will fix the "other" vehicle.

What about when an uninsured or underinsured driver hits you? Those two items have nothing to do with your vehicle.

Then you can look at glass coverage, road service, car rental, and even medical coverage. Those have zero to do with a total loss of your vehicle.

Just keep in mind that you and your aging vehicle are covered for more than just a total loss. Many claims are "partial" claims, which require repair to fix. That means your policy will pay for the parts and labor, not a cheap proposition anymore (minus deductibles, of course)

My auto policy protects my assets too?

Plus, your auto policy is actually protecting your assets & income if you hit someone else. You may not realize it but Bodily Injury and Property Damage help protect you from being personally liable for the damaged YOU cause to others. If you have ever been at-fault in an accident you likely are grateful your policy was there to handle the claim.

Talk to your agent. Go over your policy in detail. The more you understand, the better for everyone.

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If you live in Arizona, visit my site for an auto quote:
Arizona Auto Insurance or for a home owners quote:
Arizona Home Owner Insurance. Gary Brown is principal owner of Choice Insurance of Arizona. He has been serving Arizona residents for car insurance and home insurance for nearly 14 years. Find his website at http://choicearizona.com

How to Dispute a Health Insurance Claim

2007-05-21T13:43:00.000-07:00

Sometimes, deductibles can be miscalculated, and you could end up paying individual deductibles when the family deductible was already met, or maybe even exceeded!

Medical insurance plans vary, but several do institute "out-of-pocket limitations." This means, that, once you and your family have accrued and paid out a set amount for covered medical care, the insurance company will then pay 100 percent of any covered costs for the rest of that calendar year.

If you have this feature on your policy, the running tallies I spoke of earlier will enable you to accurately keep track. You surely don't want to pay more than you have to!

Your Health Insurer Won't Cough Up the Money?

You've probably heard the old saying that you "Can't fight City Hall!" Insurance companies are even bigger than your average city hall. They're giant conglomerates that hold the reins of a great deal of financial, as well as political, powers, but ... guess what? You can fight City Hall, and you can lock horns, if need be, with your insurance company!

A common problem is the denial of a claim. Any and all claims that your insurer may refuse to pay means, initially, "Take a deep breath and open your checkbook... wide!"

You should take appropriate steps to remedy the situation if you feel a claim was wrongly denied.

How To Claim What's Rightfully Yours!

1. Take the denial letter to your Benefits Administrator at your place of employment. Explain the situation to them. The administrator might have the answers "right off the bat" as to why your claim was denied. If he/she can't find a plausible reason, they might call the insurance company for you. If not, at least they can offer professional advice on how to proceed.

2. You might very well end up calling the provider yourself. If you do, ask to speak to the Claims Processing Department. When you reach the appropriate employee, find out why - in plain English - your claim was denied.

3. If you're not satisfied with the answer you get, then the next step is to ask to speak to their supervisor.

You're problem could be a simple mistake, like a wrong diagnosis code, for example.

This happened to me once: a supplemental insurance company argued that a family member did not spend a part of their hospital stay in the Intensive Care Unit because, according to the billing code, they spent their entire hospital stay in a regular room. Wrong! We disputed the claim. It was found that the wrong code was used, and the problem was resolved.

4. If you're still sure that your claim should have been accepted, and the insurance company still won't budge, don't give up! There's still hope!

5. Sit down and draft a letter. Take your time and include all of the pertinent details of your problem. Tell why you think your claim should not be denied; give dates, times, and names if it will help you build your case. After you have finished your draft, go over it carefully. Make sure the information is correct. Then, use your draft to write - up your formal complaint letter. Spell check - it and check it for proper punctuation.

The Consequences of Not Having Auto Insurance

2007-05-14T18:12:00.000-07:00

When young adults graduate college they have aspirations of starting their first "real world" job, getting their own place and buying a brand new car - one that does not need a screwdriver to start. However, college students are also graduating with much more than just a college degree and a dream, they are graduating with a substantial amount of debt. In fact, many students graduate with an average of $3,262 in credit card debt - 10 percent of that group owing more than $7,000 in credit card charges.

Students forget to factor in other life costs, such as health care, 401K deductions, income taxes, car payments, auto insurance, rent, utility bills, student loans, credit card bills and food expenses into their monthly budget. "After you graduate and land your first job, you do not think about having to pay for all of these expenses," stated a graduate from Ohio University. "Unfortunately, reality sets in pretty fast and you realize you do not have the money to make ends meet - it is a hard lesson to learn!"

College Debt
Why is there so much credit card debt among college students? "Many credit card companies set up kiosks on college campuses offering free pizzas and t-shirts to try and entice students to sign up for a credit card," noted David Roush, CEO of Insurance.com. "The problem is many college students do not have the income or financial knowledge to manage a credit card - a problem that is leading students into a lifetime of financial despair."

In addition to the outrageous credit card bills, students are also graduating with student loans ranging from $10,000 to $52,000 or more. Often students figure they will be able to pay everything off once they get a job and start making "real" money, but that simply is not the case.

Not only are credit card and student loan bills financially crippling to many new graduates, it is also forcing grads to cut back on other necessary expenses, such as auto insurance - one bill you legally cannot drive without! "Driving without auto insurance is illegal in all 50 states, however, many young adults elect to go without auto insurance because they think they cannot afford to have it," stated Roush. "A scary thought when 15.3% of all automobile accidents are caused by drivers between the ages of 20 - 24."

While deciding not to pay for auto insurance may seem like a good idea at the time, graduates are not considering the expense of getting caught without auto insurance or the cost of getting into an automobile accident. "Imagine if you had to pay the medical bills of someone who gets injured in car accident when you are at fault - suddenly paying for car insurance does not seem so bad," says Roush.

The Penalty of Driving Without Auto Insurance
According to the Insurance Information Institute, the cost of driving without auto insurance can vary from state to state, depending on the percentage of drivers who are uninsured in that state. For instance, in Massachusetts residents can be charged anywhere from $500 to $5,000 in fines and receive a one-year jail sentence. In Florida, Louisiana, Connecticut and New Jersey, drivers operating a vehicle without the state required minimum will have their vehicles impounded - which can cost you thousands depending on how long it takes you to get your car out.

To find out the auto insurance state minimum and fines and penalties for driving without insurance in your state, visit the Department of Motor Vehicles' website.

How to Budget For Auto Insurance
As you look for auto insurance, make sure to check if the insurer offers a 6-month or 12-month payment plan to help you manage your auto insurance payments better. In addition, many auto insurance providers offer a variety of discounts, including alumni discounts. So make sure to ask if your college or university is eligible for a discount, because every bit helps when you are first starting out on your own.

To help make researching auto insurance rates easier, Insurance.com offers an auto insurance comparison application. Here, you will be able to evaluate multiple rates from best-in-class insurance providers - helping you find the best auto insurance coverage for your newly graduated budget.

CLUE - The National Claims Database by Choicepoint

2007-05-02T16:40:00.000-07:00

By Haig Artan

What is a C.L.U.E. (Comprehensive Loss Underwriting Exchange) Personal Report and what information does it contain?

The C.L.U.E. Personal Report details past insurance claims filed by consumers and provides information about claims filed on policies. Claims information includes the type of loss (bodily injury or collision, for example), the claim amount, and whether the claimant was at fault.

To request your report, you will need to fill out a form which is available below in a pdf format. We have detected that you have Acrobat version 5 installed so you should not have any problems downloading this report.

Each report will include detailed insurance loss information including:

Insurance Company
Address
Policy Number
Policy Type
Loss Date
Loss Type
Amount Paid
Loss Status
List or record of companies that have inquired about your loss history in the last two (2) years

30-day online access to your report
How to dispute your information if it is incorrect or incomplete
The information in the report is utilized by insurance carriers for the purpose of assessing the company's risk exposure based on past experience during the task of underwriting an application for insurance.

The federal Fair Credit Reporting Act allows, among other things, a consumer reporting agency to provide a consumer report to a person who intends to use the information in connection with the underwriting of insurance involving the consumer.

When you apply for insurance, you give the insurance company a permissible purpose to access information necessary in the underwriting process. An insurance company may obtain information from an outside source (sucha as an information company) and inform you of the name of that outside source.

ChoicePoint provides consumer reports only to persons who have permissible purpose and who have signed an agreement acknowledging their responsibilities in ordering and using consumer information.

Request your report HERE for free!

Note: If you have not filed a claim against your auto or property insurance policy in the last 5 years, you will likely receive a clear report.

Haig Artan
Insurance Broker
HDA Insurance Brokerage
10727 White Oak Avenue, Ste. 115
Granada Hills, CA 91344-4646
818-831-3368
818-831-1268 FAX
E-Mail
Website

Five Tips That Will Get You Cheap Life Insurance Quotes

2007-04-18T16:51:00.000-07:00

By Joe Stewart

So you're looking for life insurance quotes. Congratulations on taking the first steps toward protecting your family. It takes a mature individual to do what you're doing, and I'm not just saying that to blow smoke. I'm saying it because statistics show that not nearly enough individuals and families have the coverage needed in order to protect themselves in the event of a tragedy. I salute you. Here are a few tips that may help you find a lower cost life insurance quote.

#1. The first consideration is going to be your age. The younger and better health that you're in, means the lower the quote you'll receive. I always recommend that people buy Term Life Insurance. The reason that I say that is because there are other ways that you can invest your money, other than Whole Life Insurance policies that will pay higher interest rates than what you would be getting. There is always a bit of risk when you invest, but I would definitely check into it if I were you. Pay for Term Life and you'll have pure insurance coverage and that's all you need. Invest your money elsewhere. Oh, I have to cover myself here by saying "take this advice at your own risk. I'm not a financial planner and the advice given is my own opinion. I cannot be held responsible for any loss incurred by anyone by taking my advice." Next subject.

#2. You may want to consider moving. It's true that you'll get a lower Life Insurance Quote if you happen to live in certain areas of the country. Why is this true? Well, Life Insurance, like other types of insurance, are figured out based on statistics. In this case, you'll probably have more deaths in a big city than you would in a small, rural area. I said probably. I don't have statistics handy for every region of the country, but it makes more sense if you think about it. There is more pollution in the city, more traffic in the city, gangs = homicides and other crimes. It just makes sense.

#3. Get married. This may be a crock because my wife and I drive each other nuts some days, but statistics say that married people are happier. Happier people live longer and, therefore, save money on their life insurance premiums. I'd really like to meet the people that conducted this survey, but I'll take their word for it. I'm joking of course.

#4. Quit smoking. This is a no brainer. You need to quit anyway. Your life insurance quote will be less once you've got one year smoke free under your belt. Hey, I did it! I smoked for thirty one years and then, with the help of God and the "patch", I finally did it. You know what? It really wasn't as difficult as I thought it would be. I did put on twenty five pounds though. I've been doing my Homer Simpson imitation. Mmmm, food good! Which brings me to my last tip.

#5. Lose weight, if you need to. This is just good advice. You should try to stay close to your ideal weight, if possible. I know that this is tough for some people and doesn't make sense for others. I have a medium build, but am large boned and look awful when I'm close to my ideal weight. I'm good about 15-20 pounds over that. If you are too much overweight you will be uninsurable so make sure to keep those pounds down before you get your Life Insurance quotes. Good luck!

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Joe Stewart is a Webmaster and former Life And Health Insurance Agent. He's made understanding life insurance simple for consumers. You can read detailed explanations about life insurance at his website TheLifeInsuranceGuys.com or by clicking on Life Insurance Quotes.

About Medicare Health Insurance

2007-03-26T19:02:00.000-07:00

By Sam Rosy

Medicare is a federal plan, which offers health insurance to retired individuals, regardless of medical condition. Any individual who is getting Social Security advantages would automatically be enrolled in Medicare at the age 65 that is the age of eligibility. If you are not getting Social Security advantages prior to age 65, you would be by design enrolled when you apply for benefits at age of 65. If you decide to delay retirement until after age 65, remember to enroll in Medicare at age of 65 anyway, just because your enrollment would not be automatic. Individuals who would be automatically enrolled in Medicare would be further receiving notification by mail from the Social Security Administration, normally several months before your 65th birthday. Most people become qualified for Medicare in age 65 and becoming qualified for Social Security retirement benefits as well. Additionally, you might be qualified if you are disabled or have end-stage renal disease.

Coverage

Medicare coverage consists of two parts--Medicare Part A (hospital insurance) and Medicare Part B (medical insurance). Medicare Part C (Medicare+Choice) is a program that allows you to choose among several types of health care plans.

Medicare Part A (hospital insurance)

Generally recognized as "hospital insurance", Part A covers services related with inpatient hospital care (i.e., the costs related to an overnight stay in a hospital, skilled nursing facility is provided, or psychiatric hospital, such as charges for the hospital room, meals, and other nursing services). Part A also covers hospice care and other home health care.

Medicare Part B (medical insurance)

Generally recognized as "medical insurance", Part B covers few medical cares. Physician care, whether it was received as you were an inpatient at a hospital, at any doctor's office, or could be an outpatient at a hospital or any other health care facility; is covered under Part B. Other coverages are laboratory tests, and other physical therapy or therapy services, and good ambulance service.

Medicare Part C (Medicare+Choice)

The 1997 Balanced Budget Act extended the types of private health insurance plans, which might provide Medicare benefits to carry medical savings accounts, managed care plans, and other private fee-for-service plans. The new Medicare Part C health care plans are in addition to the fee-for-service options accessible under Medicare Parts A and B.

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Sam Rosy is an expert in analyzing the insurance types especially in California and has produced lot of articles regarding
the insurance types and its application. To read Rosy articles on insurance and for further details on Health Insurance California and quotes view the site http://www.goodhealthquotes.com. To Contact Sam Rosy its samrosy@gmail.com.

Disability Insurance - Things to Remember

2007-03-22T18:29:00.000-07:00

By Joann Grant

Insurance, needless to say, is a very well known word in the whole world. Not only Life insurance, Vehicle insurance, Building insurance, people today go for even body parts insurance, say eyes or voice insurance. And talking about Disability Insurance, it is definitely one of the much sought after types of insurance.

This insurance, justifying its name, helps the policyholder to take care of his or her necessities when the person fails to attend work due to illness or injury. Some surveys show that one in three people becomes disabled at the age of 35; they get disabled minimum for three months before attaining the age of 65; and one in ten may face permanent disability. This type of coverage will, undoubtedly, solve some of your financial problems such as medical and rehabilitation expenses.

Generally, disability insurance is available in two kinds: short term disability insurance and long term disability insurance. Long-term insurance covers periods more than six months till the time of retirement. No insurance company will offer coverage of 100% of your income fearing that you will not go back to work even after becoming fully fit. Short-term disability insurance covers 40% to 60% of the policyholder’s actual income while long-term insurance will offer 75% to 80% on a tax-free basis. Therefore, it is wise to get as much coverage as possible.

Either, people can go for disability insurance issued by the government or get it as insurance package provided by their employers. Mostly, the insurance coverage provided by the employer ends at the time of termination of one’s job. Several US States are able to manage public disability insurance coverage policy financed by payroll taxes. Again, you have to look into several important factors while choosing a disability insurance policy. Such factors as total disability and renewability have to be considered carefully.

Choose the policy that provides the clause that the insurance company cannot cancel or raise your premiums so that you will not be forced to cancel it. Better look for a non-cancelable policy or guaranteed renewable policy. With this policy you will not be singled out and the raise in premiums could be done only with the consent of the whole class of insured people. Conditionally renewable policies are also welcome.

Other policies needed to be taken into consideration are residual insurance - for hardworking lot falling ill or getting injured; presumptive insurance - protecting severely affected ones; and recurring insurance - for helping people who, after recovery, become disabled again.

Also, elimination as well as benefit periods and policy exclusions ought to be keenly studied. To promote disability insurance, various optional riders such as cost of living, are available. The additional clauses also comprise automatic increase rider, social-insurance-substitute-rider and residual-disability insurance. So, know everything about the policy before going for it. An informed choice is always a better choice.

To get more information visit disability aids, disability civil rights & http://www.about-disability.com/disability-insurance/

Identiy Theft Insurance

2007-03-08T10:07:00.000-08:00

What is identity theft insurance and do I need it? Identity theft insurance is designed to help consumers cover the costs stemming from repairing the damage left by criminals who rob an individual's personal details to launch spending sprees.

Consumers aren't liable for purchases made by thieves. The insurance would pay for the costs associated with cleaning up the mess left by identity theft, such as clearing up false credit card charges and fixing credit ratings. Such costs would include long-distance phone calls, notary charges, copies, lost wages from taking time off from work to clear your name, and hiring a lawyer to help resolve the problem.

All the major underwriters of homeowners' insurance offer products or are in the process of rolling out such offerings, according to John Spagnuolo, spokesman for the Insurance Information Institute, an industry trade group. He said premiums for an individual policy average between $25 and $50 a year for coverage of roughly $15,000 to $20,000.

Some consumer advocates aren't fans of identity theft policies, saying individuals would benefit more from taking steps to protect themselves such as regularly checking their credit reports. Twenty-six states have adopted laws that allow consumers to freeze access to their credit reports, letting them control who can see their credit information. This prevents crooks from opening fraudulent accounts using stolen information, according to Consumers Union.

Gail Hillebrand, a senior attorney at Consumers Union, said under the credit freeze laws consumers get a special pin number that is necessary to give creditors access to credit reports. To see which states have such laws and how to implement a freeze, go to http://www.FinancialPrivacyNow.org.

What Factors Determine Term Life Insurance Rates?

2007-03-02T15:47:00.000-08:00

by: Peter Crump

Term life insurance policies provide a limited coverage period, which is determined by the policy owner. Term life insurance rates are actually the cheapest form of life insurance, but there are different rates for different people. This is because once the term of the policy is up you don’t receive any payout from the policy. If you take out life insurance at a young age, you will get much better term life insurance rates than if you wait until you are older.

The total cost of your term life insurance rates can be tricky. Some term life insurance policies appear to cost more, but may, in fact, be cheaper when you look at the total cost of the term life insurance policy. For example, annual renewable policies increase your premiums every year and thus may appear to be more expensive than level term policies where the premiums never increase (although the initial premiums for a level term policy will be higher). But, in fact, level premium policies may involve higher costs over the policy's full term, and become particularly expensive when you try to renew your policy at the end of the term. This is why you do have to compare term life insurance quotes.

Some of the factors that influence your term life insurance rates are:
· Whether or not you smoke. Tobacco users are twice as likely to die as non tobacco users while they are insured. Life insurance companies take this into account when they set their premium and cash benefits levels. You can save from 20% to 30% on premiums by quitting smoking.

· Medical Record. If you have a terminal illness, it is unlikely that any life insurance company will issue a policy. In the case of heart disease, you will get a policy but your rates will be high

· Occupation. if you work in a dangerous occupation, such as working on a ship that carries gas, this will put you into a higher bracket when it comes to getting rates for term insurance. You will have to shop around to compare term life insurance quotes if you are in this category.

Term life insurance rates vary a lot, and you can do something about your premiums by taking some decisions to become more healthy, like giving up smoking.

About the author:
For a website totally devoted to Life Insurance visit Peter's Website Life Insurance Answers at http://www.life-insurance-answers.com/and find out about Life Insurance as well as Cheap Life Insurance at http://www.life-insurance-answers.com/cheap-life-insurance.html and more, including Online Life Insurance, Term Life Insurance and Life Insurance Agents.