Assigned risk plans are probably best know in the auto insurance market because they exist in every state. An assigned risk plan allows drivers to obtain auto insurance if they are unable to buy it in what is called the regular, or voluntary, market. Generally when you can’t acquire insurance in the voluntary market, you’re known as a high risk driver. That’s when assigned risk comes in.
Most people getting a life insurance quote for the first time are surprised they have to answer medical questions. They think all they have to do is call an agent and give them the premium and they will have a policy. It doesn’t work that way. The agent must take an application and ask you about your medical history. This means everything you may have encountered medical wise during your lifetime. Read More…
Far too many homeowners are under the erroneous belief their homeowner insurance covers flooding. This simply isn’t true. If you live in an area prone to hurricanes, tropical type storms, heavy rains and other watery weather conditions, flood insurance would be a wise investment. Buying Flood Insuarnce…
Insurance is a field that confuses people. Just the terms alone can send a person into a tail spin in a matter of minutes. In its rawest form, insurance is a method both businesses and individuals use to reduce the financial impact of a risk occurring. In other words, if you think you will be in an auto accident for example, you will purchase auto insurance. Read More…
Life Insurance Is Family Insurance. Too many people don’t think of life insurance in its proper perspective. It is really family insurance. It is the responsibility of the parents to provide for the children and life insurance is the vehicle that gives them the best chance to have tax free dollars with which to start their life’s journey. Read More…
When people first encounter an insurance company they almost always come in contact with an entity called an agent. According to the definition of agent in any glossary, an agent is someone who represents a company’s product, a middle man if you will. In this case the agent represents an insurance carrier. Read More…
Accelerated death benefits may sound like a newly created government program but in fact it is nothing more than a life insurance policy option. This option kicks in when a person becomes terminally ill, needs extreme medical care or must move into a nursing facility. The policy proceeds are paid to insured individuals over their lifetimes. Read More…
The FDIC protects depositors of insured banks located in the United States against the loss of their deposits if an insured bank fails. If you have deposits in a U.S. bank and whether or not you are a U.S. citizen, your deposits are insured by the FDIC. Since the FDIC began operation in 1934, no depositor has ever lost a penny of FDIC-insured deposits. Read More…