Specialist Insurance , What Is it

Specialist Insurance , What Is it

In this article, we wanted to address specialist insurance, which applies to various types of coverage such as travel or automobile insurance.  To explain this type of insurance, we will begin with policies relating to travel and holiday.  If you were planning to take a trip overseas, whether for personal or business purposes, you could choose to secure a standard travel insurance policy.  With this, you would be protected if you were to become ill or injured while in a different country.

However, if you plan to travel but you are over the age of 65 or you have a pre-existing medical condition, instead of purchasing standard insurance for travel, you would need specialist insurance.  The coverage would be the same as a standard policy but a specialist insurance policy would be designed for someone that has unique or unusual circumstances.  Again, a person with a pre-existing illness or someone over 65 would need this type of coverage but other situations would include someone planning an extreme sports vacation, long-backpacking holiday, or being in another country for longer than one year.

Specialist insurance is designed for special circumstances, which would be for people or situations that the insurance companies deems somewhat risky.  With standard travel insurance, risk would be extremely low but based on certain factors of higher risk, specialist insurance coverage would be required.  Although the cost of this special type of insurance coverage may be a little higher because of the risk factor, considering the cost of not having insurance at all, it would be a small investment worth making.

Specialist insurance would also apply to medical coverage.  Again, if someone needed to purchase medical insurance but they were faced with unique circumstances, it would be difficult, if not impossible to be approved for a standard policy.  However, this person could choose to take out a special policy that would still provide them with excellent coverage but for a higher premium.  Specialist insurance is even available for vehicles, again because of riskier circumstances.

Just as with conventional insurance coverage, if you needed specialist insurance, you definitely want to shop around for the best policy and lowest premiums.  Often, coverage can vary from one insurer to another for insurance of this type so spending some to look at all your options would be important.  For instance, some insurance companies would require specialist insurance if you were going to be in a country for longer than six months whereas another insurance company’s criteria may be one year.

Even coverage for specialist insurance could change depending on the country you plan to visit and if you were going on business or pleasure.  Because there are so many factors involved, only a skilled and reputable agent or insurance company could provide you with firm answers.  Regardless, there are times when specialist insurance is necessary so if you do not fit in a traditional policy, at least talk to an insurance agency, or company to see if a special policy would be the right solution.

Specialist Auto Insurance For Teenagers

Specialist Auto Insurance For Teenagers

If you have a teenager getting ready to drive or one that just started driving, one of the most important decisions you could make is buying the right type of insurance.  Today, insurance companies offer specialty auto insurance designed just for the teenager driver.  Obviously as a parent, you dread every time your teenager gets behind the wheel but just as you had to learn, they too have to start somewhere.  In addition to proper driving and safety education, having specialty auto insurance provides a little bit of comfort.

The one thing you need to know is that shopping around for the best specialty auto insurance policy is imperative when it comes to a teenager driver.  The reason is that coverage of this type does not come cheap because teenagers in general have more accidents than adults do simply because of less experience.  Therefore, along with getting great coverage, it would be worth your time to shop around for the most affordable premium.

The good news is that specialty auto insurance for a teenage driver could be discounted if certain factors were in place.  For example, if you are divorced and your teenage son or daughter lives half of the time with you and half of the time with your ex-spouse, if you both maintain insurance through the same insurance company, you may not need to purchase a separate policy in that the teen would be covered by both parent’s policy.  The teen as an “uninsured driver” could be a biological, step, or adopted child.

In addition, when looking at specialty auto insurance for a teenage driver, most insurance companies will offer discounts for various things.  If your child maintains a certain GPA or above, chances are a reduction in price would be available.  If your teen has been driving for awhile and has never received a ticket or been in an accident, a discount might be offered.  You would need to check with the different companies from which you request a quote about the discounts offered for specialty auto insurance specific to your teen.

It is important to understand that even the most affordable specialty auto insurance policies are always going to be more expensive for boys than for girls.  The reason is that statistics show that boys have more accidents than girls do so to protect their investment, insurance companies charge more for male teenage drivers.  Typically, once the teenager reaches age 25, especially for males, the price of the specialty auto insurance policy would decrease substantially.

In addition, you must be 100% honest with the insurance company at all cost.  If you allowed your teenager to drive but not have him or her on the policy of the parent that owns the vehicle, if the company finds out they have right to cancel the policy or refuse to pay a claim if an accident happened.  Unfortunately, studies show that 14% of all drivers involved with a fatality are teenagers.  In other words, for every 100 accidents involving death, 14 involved a teenage driver.

In fact, recent reports from the National Highway Traffic Safety Administration show that teenage drivers of 16 and 17 years of age are three times more likely to have an accident than teenagers of 18 and 19 years of age.  Although no specialty auto insurance policy is going to stop an accident from happening, it would provide coverage for proper medical care and protect the teen and family from lawsuit if your teenager were the driver at fault in a serious accident.

Renters Insurance

Renters Insurance

If you rent a home, condominium, duplex, apartment, or live in a residence hall or dorm, you would be eligible for and should consider buying renters insurance.  The great thing about this type of insurance when renting is that premiums are often as low as $30 a month.  Without doubt, choosing to buy renters insurance for apartment living is one of the wisest decisions you could ever make.  After all, you want to do everything possible to protect your life’s possessions.

Just make sure that you choose any renter’s insurance policy for apartment living from a reputable company.  Usually, these companies have been in the business for a long time and understand specific needs of a renter.  Because of this, they can offer guidance to help you choose the best policy for your needs.  Additionally, with so many different insurance companies now offering renter’s insurance, pricing is competitively.

Remember, as you begin looking around at policies for renter’s insurance for apartment living, you can get a free quote from a local company or through an online resource.  If looking online, you would need to complete a brief application and provide your contact information.  From there, a representative of the insurance company would review your information and then contact you to discuss your various options.

To make sure you get a solid quote for renter’s insurance for apartment living, you would need to take an inventory of your personal belongings.  In fact, many insurance companies have actual forms that make this process quicker and easier.  You need to consider clothing, appliances, dishes, Christmas items, sporting equipment, electronics, and literally everything you own.  Of course, along with items in the house, be sure to include hand tools, gardening items, and other things from outdoors too.

Typically, you have two primary options with renter’s insurance for apartment living.  First, you could keep your premium at its lowest by choosing a set amount of coverage, which would be based on the items you have.  However, the second option of replacement coverage is the way to go.  A policy such as this is only a few dollars more and in return, if something were to be damaged or stolen, instead of being refunded with the dollar amount you paid as in the first option, you would be paid the dollar amount of what it would cost to purchase that same item today.

Now, just as with homeowner’s insurance, most policies for renter’s insurance specific to apartment living does not cover certain items.  For instance, the policy would not include jewelry, firearms, antiques, or artwork.  However, you can add an additional policy onto the renter’s insurance policy if you want the more expensive items covered.  An additional policy for any of the items listed is also very affordable.

The one thing to remember is that while all of your personal belongings would be protected in case of fire, burglary, flood, and other damage based on the terms of the policy, the one thing the policy would not cover is the apartment itself.  The structure’s protection is the responsibility of the owner and by law, insurance is a requirement.  Therefore, all you need to worry about is you and your personal possessions, choosing a great but affordable renter’s insurance policy for apartment living.

Reinsurance, General Insurance

Reinsurance, General Insurance

Reinsurance provides financial cover to insurance companies in case of substantial losses suffered by them. Through reinsurance, insurance companies can spread and share the risk of losses with another company. This general insurance policy is especially useful when insurance companies face the risk of paying numerous claims simultaneously, for example when a natural disaster strikes. In such situations, there is a high risk of insurance companies going bankrupt.
Reinsurance: Types

Reinsurance policies are of several types:

      1. Proportional: In this type of insurance, reinsurers receive a specific share of risks and premiums on each policy that an insurer underwrites.

      2. Non-proportional (Excess of Loss): In this type of insurance, an insurer takes on all the losses till a specific limit (retention) is reached. After that level, the reinsurer takes on all the losses.

      3. Risk-attaching basis: In this type, a reinsurer accepts only those claims that were made for policies bought before the reinsurance policy started.

      4. Claims-made basis: This policy covers all claims reported to an insurer within the policy period, irrespective of when the event causing the loss occurred.

      5. Loss-occurring basis: This is a type of reinsurance policy, wherein all claims occurring during the period of a contract, regardless of the time when the policy was bought, are covered. Losses due to any claims made after the expiry of a contract are not covered.

There are Several Types of Proportional Reinsurance Policies:

      1. Quota share: Through this insurance, an insurer cedes a specific percentage of losses and premiums. For example, an insurance company can purchase a 50% quota share treaty and share half of all premiums and losses with the reinsurer.

      2. Surplus reinsurance: Through this insurance, an insurance company cedes those insurances where risks are higher than a specified amount.

Following are the Types of Non-Proportional Reinsurance Policies:

      1. Per risk: In this type, an insurance company might insure a policy with a specific limit and then buy per risk reinsurance to cover losses of more than a limit within the policy. For example, a company might reinsure policies with limits up to $5 million and then buy a reinsurance policy of $3 million in excess of $2 million. This way if it receives a claim of $4 million, it can recover $2 million from its reinsurer.

      2. Per occurrence: Also called catastrophe excess of loss, this policy has insurance policy limits less than the reinsurance retention.

Property Insurance, Types of Property Insurance

Property Insurance, Types of Property Insurance

Property insurance provides coverage for insured property and compensates for loss associated with fire, theft, vandalism or natural calamities. The contents within the property are also covered by property insurance. Property insurance includes many forms of insurance, including:
# Fire Insurance
# Flood Insurance
# Earthquake Insurance
# Boiler Insurance
# Home Insurance
How to Acquire Property Insurance?

Property insurance can be acquired in two main ways:

Open Perils: This type of insurance covers all the losses that are not specifically excluded in the policy. The insurance company compensates for damage to property due to flood, earthquake, war or terrorism, as well as nuclear incidents.

Named Perils: This type of policy provides coverage for damage-causing events that are specifically listed in the policy documents. This means that if the mentioned causes of loss are fire and burglary, one cannot claim for damage caused by an earthquake.

Why do you Need Property Insurance?

Property insurance safeguards your financial future if certain damages occur to your property or a third party files a negligence suit for damages suffered on your property. Property insurance will reimburse you for damages due to fire, theft and unforeseen calamities, as well as situations that are specified in your policy. This policy will also compensate for accommodation and restaurant meals while your home is being repaired.

Property insurance also includes protection for personal liability in situations where someone, such as tenant or your neighbor, is injured while visiting your home or property. This kind of situation is extremely perilous because the visitor might sue you for negligence and you could end up paying a hefty sum in compensation. Property insurance also provides cover for unintentional damage to someone else’s property.
How to Choose the Right Property Insurance Policy

You can protect your property against the most likely causes of loss by choosing the right property insurance cover. If you have personal belongings, such as jewellery, artwork or computers, and you can afford the loss of these items, then choose a lower level of coverage for your belongings.

Raising your deductible will also lead to lower premiums. A deductible is a small share of the total claim that you will have to pay when you claim for the damage, while the rest is paid by the insurer.

Personal Insurance for Homeowner’s Coverage

Personal Insurance for Homeowner’s Coverage

Most people think of health coverage when they hear of personal insurance, which is one option but personal insurance would also apply to mortgage coverage.  More commonly known as Personal Mortgage Insurance or PMI, this type of policy is a requirement anytime a person purchases a home with a down payment of 20% of the purchase price or less.  The primary objective for this type of personal insurance is to provide lenders with protection in case the buyer cannot meet the financial responsibilities, thus resulting in foreclosure.

Now, for personal insurance specific to the mortgage, as the down payment decreases, the cost of the PMI would also decrease.  As an example, the amount you pay for personal mortgage insurance on a 15% down payment would be less than that of a 10% down payment.  Typically, the PMI would be included in the monthly mortgage payment so you would not be making an additional payment each month.

One important thing to remember with personal insurance for your mortgage is that over time as you build up equity in the home to the point of being equal to 20% of the home’s value, the PMI should be cancelled.  For this, you would need to contact the mortgage company and make the request, although some mortgage companies will cancel the PMI on their own.  Regardless, having this type of personal insurance stopped would automatically lower the cost of the monthly mortgage payment.

In addition, there would be some stipulations involved for having the personal insurance in the form of the PMI cancelled.  For instance, you would need to be up-to-date on payments, the appraisal would be required to verify the equity equals the 20% or more, and you would be charged a fee for this being done.  In addition, the PMI could be cancelled if you were to refinance your mortgage loan.  If you were to go with an FHA loan, you would be required to maintain mortgage insurance, which is different from personal insurance such as the PMI.

Unfortunately, not all lenders are eager to let cancel the PMI.  In fact, some lenders will actually work hard to stop the PMI from being cancelled, which can make the process challenging and long.  Because of this, some homeowners find it easier to keep the personal insurance going and recouping the equity when the home is sold.  While this is certainly one option, it also means the monthly payment would be higher each month than necessary.

In most cases, personal insurance in the form of PMI would be required but there are a few situations when this would not be needed.  For instance, if the home were purchased with an FHA loan, then the PMI is not a requirement.  Another situation when the PMI would not be required would be purchasing a home with a VA loan.  Of course, if you have questions about personal insurance for your mortgage, you want to talk to the lender to get answers needed.

In most cases, PMI is a part of the home buying process, again providing lenders with some degree of financial security.  However, once you have enough equity in the home, you want to lower your monthly mortgage payments, and your mortgage payments are current, you might do the math to see if it would be worth working toward having this kind of personal insurance cancelled or simply leaving it in place.

Motorcycle Insurance, Bike Insurance, Motorbike (Motor Bike) Insurance

Motorcycle Insurance, Bike Insurance, Motorbike (Motor Bike) Insurance

Research shows the importance of bike insurance since motorbike riders account for 20% of all serious road accidents. Bike insurance is mandatory by law in most countries. However, the minimum limit can vary from country to country.
Types of Bike Insurance

An individual can choose from three types of bike insurance. The most general motorcycle insurance policy offers only third party insurance and covers damage caused by the insured motorbike to another person. The second type of motorbike insurance is theft and third party insurance. This type of insurance offers the benefits of third party insurance and financial loss in case of bike theft. Comprehensive bike insurance covers most of the financial expenses incurred due to an accident or theft.
Benefits of Comprehensive Bike Insurance

Comprehensive motorbike insurance has an extended cover which includes:
# Repayment of the bike's market value, in case of theft or complete damage.
# Entire cost of repair if the bike is damaged in an accident.
# Lifetime guarantee on repairs and parts from authorized centers of the manufacturing company.
# Accessories and modifications can also be covered to a certain limit.
# Greater third party cover to shield the policyholder against all financial liability.
# Motorbike gear, such as helmet, leather jacket, boots and music player, can also be included in the cover exclusively.
# Cost benefits to trained riders carrying declaration certificates.

In European countries, a comprehensive cover includes riding throughout the EU nations at no extra cost. Postal code, age and cost of the bike, biker's experience, mileage, driving record affects the bike insurance premium.

Insurance for Custom Made Motorbikes

Choosing an insurance policy for custom-made bikes can be a tough task. Custom-made bikes have expensive parts and accessories, which most insurance companies do not consider part of the insurance cover. Most custom-made bikes are used for adventure sports, such as off-road riding, tours, racing and stunt performances. Hence, they are highly prone to accidents or mishaps. An individual needs to search on the internet or refer to the local vehicle authority to get more information about the insurance companies that offer custom-made motorbike insurance.

To safeguard one's own motorbike and third party property, a bike insurance policy is a must for all motorcycle owners.

Mortgage Insurance

Mortgage Insurance

What is Mortgage Insurance?

Simply insurance that protects the lender if in any case the homebuyer does not make their respective mortgage payments is called as mortgage insurance. It can be defined as a financial guaranty that protects the lenders against the loss. In any case if the borrower is found to be defaulted and the lender takes the title of the property then the mortgage insurer reduces the loss to the lender. More over in case of mortgage insurance, the insurer haves some risk by lending money.

Payment Structure In Mortgage Insurance:

In case of the mortgage insurances, an initial premium is collected at closing and depending on the premium plan; a monthly amount may be included in the house payment made to the lender. The general types of the premium plans in case of the mortgage insurances are as follows:

For the Annuals the borrower pays the first year premiums at a closing.

In case of the monthly premiums, the cost burden is more than the traditional mortgage insurance plans. In Singles borrower pays the one time single premium.

Private Mortgage Insurance (PMI)

The private mortgage insurance deals only when down payment on a home is less than 20% of the sale price. This enables for getting a mortgage with lower down payment as the lender is protected from the default on the loan.

The rates on the private mortgages vary depending upon the size of down payment and the loan. Mortgage insurance premiums are generally tax deductible.

Mortgage Insurance Companies Of America (MICA)

Six Private Mortgage Insurers comprise MICA'S membership, which are as follows;

    * Genworth Financial, Inc.
    * Mortgage Guaranty Insurance Corp.
    * PMI Mortgage Insurance Company.
    * Republic Mortgage Insurance Company
    * Triad Guaranty Insurance Corporation.
    * United Guaranty Corporation.

Medical Insurance Coverages and Policies

Medical Insurance Coverages and Policies

Medical insurance has always been important to people and for those who have been able to afford coverage this type of insurance provides peace of mind.  Unfortunately, millions of people in this country have had to do without medical insurance.  For some, the problem has been losing a job and the coverage that went with it or being employed but not having the finances to afford insurance.

Two weeks ago, President Obama signed into law a new healthcare reform bill passed by Democrats in Congress that requires all Americans to have some type of medical insurance.  Obviously, people need coverage but the challenge is for those who cannot afford it, how would the policy be paid for.  Understanding this complex obstacle, the government is working hard to create more jobs so people will have the healthcare needed.

To protect yourself in case of illness or injury, but also to meet the demands of the new law while not being penalized, you need to start thinking about medical insurance.  You want to spend time looking at different types of policies, as well as monthly premiums.  One place to start would be with local insurance companies, which is a great option but if you want to have more possible choices, you might also look online.

Today, literally hundreds and hundreds of insurance companies from all across the United States and other countries sell policies online.  In fact, for medical insurance, online businesses are very competitive.  For you, this is a serious advantage because you would be able to request quotes from as many of these companies you want and then take your time without feeling pressured to review the details and pricing.

You may want to choose a medical insurance policy that offers the bare necessities.  In this case, the policy would provide doctor’s office care and emergency hospital care.  However, for a more in-depth policy, you would need to consider services that go beyond the standard coverage.  For instance, if you were concerned about being hospitalized, then you need to consider a policy that would offer coverage for an extended stay.

On the other hand, if you wanted to purchase a policy for medical insurance but you also needed coverage for both dental and vision, then it would be important to look at these policies and prices too.  Many of the online insurance companies sell all types of coverage, meaning you could buy medical coverage, as well as prescription, dental, and vision coverage from the same company

The great thing about online insurance companies is that they often create special networks of doctors, dentists, optometrists, and others, meaning you would have access to a greater number of healthcare professionals.  Because of this, the opportunity for finding the exact policy needed but one that would fit your current financial situation is great.

In fact, if you were provided with a quote from one company but you liked a policy a little more from another company, you might ask if they can meet the price of the first insurance provider.  Often, they will do everything possible to get your business so negotiations for medical insurance are never out of the question.

Life Insurance

Life Insurance

Life insurance is a kind of agreement made between a living person and an insurance company. In a life insurance policy, the insured person must pay a regular fee (called a premium) to the insurance company. In return, the insurance company will pay a pre-determined sum to the insured's family upon his or her death. Most life insurance policies cover both natural deaths and accidental deaths.

There are many kinds of life insurance policies on the market. Some of them are:

Temporary Life Insurance: Temporary life insurance policies offers life insurance coverage for a limited period of time. Temporary life insurance premiums buy protection for nothing else but death. If the insured outlives the policy, nothing is paid.

Permanent Life Insurance: Permanent life insurance is a kind of insurance that stays valid until the policy gains maturity or the policy holder fails to pay the premium within due date. Permanent life insurance can be of three types: Whole life, universal life and endowment.

Accidental Death Life Insurance:Accidental death life insurance is a limited policy which covers the life insurance policy holder at the time of his death due to an accident. This type also makes settlements, or payouts, in the event of loss of fingers, eyes, hearing, legs, arms, or other body parts, due to an accident.

Anybody who has dependents (children or a spouse that relies on this person's income) should invest in life insurance. In the event of his or her death, the insurance settlement will cover the lost income resulted in that person's death.

To know more about life insurance one can browse through the following topics:

Life insurance policies cover losses that arise from the loss of one's life or other accidents. Find various life insurance policies here.

Life insurance companies sell life insurance products, protecting against loss of income in the event of death.

Life insurance rates are the premiums paid by the insured parties. They can be broadly categorized into the preffered category, preferred plus category and standard category.

Get detailed on the various life insurance categories before you purchase your life insurance policy.

Insurance Plan, The History, The Concept , The Premiums

Insurance Plan, The History, The Concept , The Premiums

The insurance plan was developed for modern day laws and as a means of providing individuals and businesses with protection against risks.  Prior to insurance being offered, as a service and product, when people ran into problems the community would come together to make repairs.  For instance, before insurance was formally offered, if a neighbor’s home were to burn down, other neighbors, family members, and friends would gather all the necessary materials and tools, and together rebuild the home.  However, as population grew this small community in most parts of the world changes.

Interestingly, the insurance plan that we know of today was actually based on ancient traditions of the Babylonian and Chinese traders.  Historians tell us that during the second and third millennia BC, merchants in China would have to travel over horrific rapids of the rivers as a means of distributing the things they made.  To accomplish this, the wares were moved using several vessels because it was common for one to capsize.

By 1750 BC, the Babylonians created a unique system whereby a merchant would be provided with a loan to pay for the shipment of wares.  Then for an additional amount of money, the lender guaranteed if the shipment of goods were stolen, the loan would be cancelled.  In a crude sort of way, this system was the beginning of the insurance plan that would evolve over the years to what we know insurance coverage of today to be.

Then for the individual insurance plan, one that was not connected to loans, this was invented during the 14th century in Genoa.  At that time, the insurance was backed with land.  By the 15t century, an insurance plan for maritime coverage was offered although it came with risks and premiums varied dramatically.  In this case, this new type of insurance plan made it possible for insurance to be separated from an investment, which proved highly beneficial.

Then in 1628, a very rich man from London took out two types of insurance plan, one being for maritime coverage, and the other insurance plan for life protection.  With London becoming an increasingly important part of the world for trade, a man named Edward Lloyd who owned and operated a coffee house became a viable part of the city, providing people with shipping news and offering a place for merchants, ship captains, and ship owners to gather.  There, men could take out an insurance plan of sorts with one another and this venture became known as Lloyd’s of London, which today still provides the same service for the insurance plan.

The insurance plan that we are all accustomed to in today’s world, which includes policies for home, both owning and renting, automobiles, life, health, marine, dental, vision, and more.  The modern insurance plan actually has a link to the 1666 Great Fire of London, which destroyed more than 13,000 homes.  Realizing something had to be done, a man by the name of Nicholas Barbon opened an insurance office, and just 14 years after this horrific fire, the first fire insurance company in London was formed to provide protection for frame and brick structures.

Then for the health insurance plan, this concept was brought up by Hugh, who was the Elder of the famous Peter Chamberlen family in 1694.  While health insurance remained the primary type of insurance protection for many years, by the latter part of the 19th century, accident insurance was created.  At that time, the accident insurance plan was similar to disability insurance used today.  By 1732, the first insurance company in the US underwrote fire insurance in Charles Town, South Carolina, today known as Charleston.

Over the years, many other types of insurance plan options would be developed and the coverage would change.  Sadly, in the 20th century, organized crime used insurance for extortion, generating tax free income while controlling businesses.  However, it was after the Social Security Act was passed by the federal government that the overall concept of the insurance plan changed.  At that time, policy types grew, requirements became more structured, and premiums more affordable.

Regardless of the insurance plan a person purchases, they end up with a legally binding agreement with the insurer that if damage or loss were experienced specific to the type of protection, the policy would pay.  In exchange, consumers pay a premium each month for the insurance plan, which provides not only protection but also peace of mind.

Insurance Marketing Strategies

Insurance Marketing Strategies

Insurance marketing is basically just the marketing of insurance products. Marketing of this sort is an important tool when it comes to the business of insurance. The marketing of insurance readily happens in the life insurance department as well as the non-life insurance department.  

What type of advertising and marketing is most suitable for your insurance business? This is not a one size fits all deal. You must consider how much of a budget you have and work from there. You also need to know what your target market is. For example, are you going to sell one type of insurance such as life insurance or a variety, such as health insurance, auto insurance and house insurance? What is the demographic you are aiming for? The more you know the better able you will be to figure out what type of insurance marketing you should do to grow your business.

Online advertising is one marketing tool that is worth the money. As the Internet takes on more power and influence all of the time, having a web presence will put you on the cyber map and get you noticed. It has been found through studies that 75 percent of all households have access to a computer and Internet resources. Find out what you need to do in order to get online before that percentage gets any higher!

Block line advertising in trade journals, industry publications and periodicals is the way to go. This is because industry professionals read these publications to keep in the know. You are an industry professional so you need to get your business in one or more of these publications as well.

Television ads and print ads are excellent forms of insurance marketing. However the downside is that both can be very expensive. You may go way beyond your advertising budget if you decide to use either one of these methods. However if you can afford it then your best course of action is to either consult with an external advertising agency or hire one to help you develop a campaign that is conducive to what you need most. Your goal of course is to gain exposure and to increase your sales.

If you decide that print ads would suit your style and your budget just fine then colored ads are the most expensive to produce but can be very appealing to the eye. You can also choose a “reverse type” for your advertisements. Think back to what black and white television looked like. The ad would have white lettering on a stark black background. The black background sets off the lettering and gives it that catchy effect.

Insurance Leads, Where to Find Them

Insurance Leads, Where to Find Them

Have you ever wondered how insurance companies and agencies get leads?  It seems that professionals in the insurance industry know where to look for new customers, people actually interested in purchasing a policy.  In this article, we wanted to show you where insurance leads come from to help companies and agencies build a stronger, more profitable customer base.

Many insurance leads come from word of mouth.  If a policyholder were happy with the service and insurance coverage from a specific insurance company or agency, anytime a friend, family member, neighbor, or co-worker wants to know where they too can get good coverage, the policyholder would provide a referral.  Because insurance leads in the form of work of mouth are so powerful, this is incentive for agents and brokers to do an amazing job so current policyholders want to tell other people about the great support they receive.

Insurance leads also come from marketing firms or data collectors that have the job of finding and then selling leads.  Typically, these leads come from people that conduct searches online.  For instance, if someone were shopping for anything online, whether pet food, clothing, automobile parts, etc, they could easily visit a site that at the bottom of the page in very small print is an “opt out” option.  This usually a very small box that the person would need to check to avoid his or her name and email address from being sold or shared.  Data collectors will pull information together for people who failed to “opt out”, sort it by the type of search the person performed, and then sell or share it.


Now, along with an “opt out” option, there is also an “opt in” option.  In this case, if someone were looking at different types of insurance online and they found a website that offered great information, the person might choose to check the box or provide contact information to receive a weekly newsletter or special offers.  Usually, obtaining insurance leads from an “opt in” option would be more targeted although some data collection companies will still pull information from all searches, again sorting and selling or sharing.

Of course, insurance leads can also come from traditional marketing campaigns.  This would include television or radio advertising, magazine advertisement, fliers, mail out brochures, and so on.  However, a more effective means of coming up with insurance leads would be with email newsletters, articles, blogs, eBooks, and now, the new technology of mobile advertising, which includes ads sent to a targeted group of people via a mobile device.

Even setting up a professional website that includes surveys or questionnaires would be a method for securing insurance leads.  The challenge is that for every 100 potential customers, an insurance company or agency may sell one policy.  In other words, while insurance leads are a part of the business, it takes a lot of hard work and dedication to build a strong customer base and even more hard work and dedication to maintain every new customer.

Finally, networking is a great way of getting insurance leads.  In this case, affiliate programs or networking systems would be established among professionals in the insurance industry.  If an insurance company only sells policies for health but they have a client that needs life insurance, they would recommend a specific insurance company they had partnered with and vice versa.

Insurance Guide To Long Term Coverage

Insurance Guide To Long Term Coverage

In a perfect world, no one would ever get sick or experience injury but unfortunately, we do not live in a perfect world.  The reality is that people become ill and experience injury every day all over the country.  For this, many people maintain health insurance, which helps with the cost of good medical care.  However, most people focus only at the present and not the future.  In this insurance guide, we wanted to provide information about the importance of long-term care coverage.

One of the most important things a person can do is plan.  Even if long-term coverage were never used, it would certainly provide peace of mind knowing that if needed, an insurance policy would be in place to help.  The first recommendation in this insurance guide is to find a company or insurance agent you feel comfortable working with and then together, look at different opportunities specific to long-term care coverage.  That way, you would be able to look at the best coverage available but without spending a fortune.


As you will discover with this insurance guide is that long-term insurance provides a number of benefits.  Two of the most important include security of not losing assets that took a lifetime to build, protection for you, but also your family members against outrageous costs specific to illness and/or injury, and having some independence and control over your future.  Knowing that you have excellent coverage long-term provides a sense of peace that is worth its weight in gold.

Too often, people will think only of the present, which means they miss a great opportunity of having protection on a long-term basis.  Again, working with a qualified insurance agent or company, you would be able to choose coverage that is perfect for your needs.  Most people that look into long-term care coverage are amazed at what a policy such as this has to offer, how affordable premiums are, and how it can create a sense of well-being just knowing the policy is available if ever needed.

Another important thing to consider with this insurance guide is that the last thing you want is to become seriously ill or injured only to find you have no way to get the level of care needed or recoup costs.  Most people maintain insurance through an employer or a self-paid insurance policy, and even for individuals with Medicare, the coverage would simply not be what you ultimately need long-term.

Consider Medicaid and Medicare coverage that some baby boomers use.  While having this type of governmental healthcare insurance is certainly better than no insurance at all and even with coverage improving thanks to the new healthcare reform bill, it is not enough.  Even if you have insurance through an employer, chances are the amount of payout has a cap.  How many times have you heard of a small child covered on a parent’s policy that is hit with a major illness such as cancer only to discover long-term, the policy will not provide the coverage needed.

We want to stress in this insurance guide that for a situation such as this, if the family had purchased a long-term policy for healthcare, expenses beyond what would be covered by the company’s insurance policy would be covered.  Obviously, this would be huge.  In addition to the child getting proper care over a very long time, the entire family would feel less stress, making it easier to deal with the illness.  Finally, we want to encourage everyone to consider policies specific to long-term care coverage.

Find out how to Ask the right questions and lower your premium.

Insurance Companies

Insurance Companies

Insurance companies make up a major part of the financial services worldwide, and a huge part of insurance worldwide. Adoption of financial market reforms by almost all the countries worldwide has given birth to a more competitive environment in this sector than in the past.

Despite the financial shakeout which began in September 2008, insurance companies are still forging ahead. While many people have lost their homes and jobs, insurance is one product many people cannot live without. Whether by law or by necessity, people still have car, health, life and other types of insurance in effect. Most insurance companies remain financially robust, with some exceptions.

Furthermore, with more people owning vehicles, homes, and more people earning greater amounts worldwide, the need to have them insured has emerged, creating an entirely new segment for the top insurance companies of the world. This is particularly true in emerging markets such as India and China where this phenomenal grotwh has occured.

Note that the housing slump and automotive meltdown in the US have put a considerable damper on adoption of new policies there, and in Europe, but again, India and China remain strong. The big insurers in this sector, including the top insurance companies of the world have stepped forward with their strategies to adapt to the changing global landscape and markets.

In this section we cover leading insurance companies, their financial positions, and international operations. Apart from each company's performance, we cover the countries' participation in the insurance business such as the total number of insurers in each country and the total amount of premiums, including life premiums and non-life premiums.

Insurance Brokers, Insurance Broker

Insurance Brokers, Insurance Broker

Insurance brokers are people who possess specialized knowledge in the field of finance. They play an important intermediary role between the customer and the insurance company. They are also known as insurance agents. An insurance broker can be either of the following:
# An individual
# A commercial business entity

Insurance Brokers: Well Informed and Unbiased

Insurance brokers or agents have a thorough knowledge and extensive experience in the insurance sector and are quite conversant with the contingent risks of life and their possible risk-management. They actually broker the insurance deal between the insurance company and the consumer and in lieu for this, extract a commission.

Insurance brokers are basically financial planners who acquire suitable insurance schemes in accordance with the needs of the insurance clients. Insurance brokers are not tied to any specific insurance companies but to multiple ones. So, there is little chance of them favoring insurances of any specific company/companies. An insurance broker is expected to perform extensive research while choosing the right insurance scheme/policy for the client’s requirements without any prior biases.

Insurance Brokers: Serving a Large Client Base

The job of an insurance broker varies from firm-to-firm because in such cases, size does matter. In large business entities, they have a wide range of client base along with their wide range of requirements. However, it is impossible for a single broker to meet all these need. So, each broker in a big business house has categorical specializations according to the needs of the clients.

Insurance brokers in small business entities who have comparatively less businesses and a small number of clients are required to do all the associated work themselves.
Insurance Brokers: A Brief Job Description

Generally, an insurance broker is involved with the following work:

# Acquisition of clients in need of insurance - Even if people don't have the demand for insurance in a specific field, brokers generate this demand through advertisements and other methods. This is known as business development.

# Giving proper and adequate service to the client to maintain an ongoing relationship between the insurance company and the client - This is commonly known as servicing of client.

# Constantly remaining in touch with the clients and catering to their problems by gathering proper information and assessing their risk profile and requirements.

# Renewing the policies of the existing clients in a hassle-free manner and with appropriate judgment and guidance.

# Giving proper advice to clients in a customized way by gauging their risk profile coupled with extensive research.

# Keeping abreast with new policies and schemes of the insurance companies so that they can choose the right policy for their client’s personal needs.

# Collecting regular premiums paid by the clients.

Insurance Agency, Choosing The Right One

Insurance Agency, Choosing The Right One

In life, there are many necessities, insurance being one.  Regardless if you need health insurance, car insurance, life insurance, or some other type of coverage, one of the most important decisions you will make is choosing the right insurance agency.  After all, the cost of healthcare and insurance has increased over the years so it requires spending a little more time and effort to find the one agency that is going to work hard on your behalf not just for the type of coverage but also the price of the coverage.

When looking for the right insurance agency, you could start with those found locally but we strongly recommend you also consider scouring the internet.  With the online market flooded with insurance companies, most are highly competitive.  This means they are all vying for your business and therefore, willing to work their magic to provide you with an exceptional policy but also a policy that you can afford.

As a consumer, you have the right and responsibility to go through a number of steps when choosing an insurance agency.  For starters, you should know the financial history of the insurance agency being considered.  Of all the different factors that you would look at when searching for an insurance agency, the company’s financial situation is probably at the top of the list.

If the agency has a history of solid financial performance and proper management, then you could feel confident that every other aspect of the business would be operated to high standards.  This information would show you if any claims had been filed and if so, the amount settled for, how often claims are filed, and an independent rating specific to the insurance industry.

It would also be important to look at the financial underwriting for any insurance agency you might go with.  This information relates to an assessment of the extent in which a person should be insured in terms of money.  For instance, when looking at life insurance coverage, you want to have the amount of coverage that would allow you to live in retirement years as you do now.

Therefore, you should purchase as much insurance as possible, preferable up to 15 times your annual salary.  For the best coverage but also the lowest premium, staying with the same insurance agency throughout the course of the policy would be best.  Keep in mind that some agencies and companies will have a cap as to how much insurance you can purchase so this would be something to determine before locking into a policy.

Finally, any insurance agency being considered should have highly trained and qualified agents.  After all, the job of the insurance agent is to act as the liaison between you and the actual insurance company.  You want an agent that you trust, a person you know is working hard on your behalf.  This individual would stay current on industry standards, rules, and regulations.  A good insurance agent would have the ability to guide you through the process of choosing policies and then be there for you to answer questions or solve problems after the policy has been purchased.

World Insurance Companies

World Insurance Companies

The top insurance companies of the world make up a major part of the financial services worldwide, and a huge part of insurance worldwide. Adoption of financial market reforms by almost all the countries worldwide has given birth to a more competitive environment in this sector than in the past.

Despite the financial shakeout which began in September 2008, insurance companies are still forging ahead. While many people have lost their homes and jobs, insurance is one product many people cannot live without. Whether by law or by necessity, people still have car, health, life and other types of insurance in effect. Most of the top insurance companies of the world remain financially robust, with some exceptions.

Furthermore, with more people owning vehicles, homes, and more people earning greater amounts worldwide, the need to have them insured has emerged, creating an entirely new segment for the top insurance companies of the world. This is particularly true in emerging markets such as India and China where this phenomenal grotwh has occured.

Note that the housing slump and automotive meltdown in the US have put a considerable damper on adoption of new policies there, and in Europe, but again, India and China remain strong. The big insurers in this sector, including the top insurance companies of the world have stepped forward with their strategies to adapt to the changing global landscape and markets.

In this section we cover the top insurance companies of the world, their financial positions, and international operations. Apart from each company's performance, we cover the countries' participation in the insurance business such as the total number of insurers in each country and the total amount of premiums, including life premiums and non-life premiums.