When
you hear insurance, what exactly cross your mind? Do you think expense?
But do you know that insurance can an income to you? Shocked to hear
that? Don't be, an insurance policy that you take can help protect your
asset from loss believe it or not. Let's look at this scenario, you
bought a car for a Fifteen thousand dollars ($15,000.00) and insured it
with an embarrassing amount of Seven Hundred and Fifty dollars
($750.00)! However, it happened that robbers stole the car while packed
in you garage, then what do you do? Simple, call your insurance company
and report the claim, with full proof and documentation. I bet you if
you deal with the right insurance company, you'll be bought another car!
No strings attached, no hassles, no excuses. The looking at it well you
have another brand new car to replace the lost one. Get an INSURANCE
POLICY TODAY!
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How To Detect A Fake Third Party Motor Insurance Certificate - To drive a car on Nigerian road one of
the major requirements is for you to have a minimum of Third Party Motor
Insurance Certificate. This is enshrined in the Section 68 of the 2003
Insurance Act which states, “No person shall use or cause or permit any
other person to use a motor vehicle on a road unless a liability, which
he may thereby incur in respect of damage to the property of third
parties is insured with an insurer registered under this Act.”
But
besides the legal aspect of it, do you know that there is N1m property
damage cover and unlimited life cover to Third Parties on your Insurance
Certificate? It is a sad situation in Nigeria that people are
ignorantly or willfully (because of cost) purchasing fake certificates.
My people, the bible says, perish for lack of knowledge. According to
The police 90 per cent of Third Party Motor Insurance Certificates
presented to them on demand by motorists at checkpoints are fake!
Ordinarily
it is quite difficult to different between an authentic and a fake
certificate because of the quality of the finishing of some of the
certificates. But in 2012 the industry inaugurated the Nigerian
Insurance Industry Database (NIID) with the mission to wipe out fake
papers to give room for genuine ones to boom in the nation. This will
allow law enforcement agents and vehicle owners to verify the
authenticity of motor certificates within a minute! The Police now will
be able to detect with a certain electronic device in their possession
if your certificate is real or fake. Please do not be caught unawares,
read on to find out how to detect the fake one yourself before it is too
late.
Life Insurance is all about protecting your future
and that of your family/dependants. Life Insurance nowadays is more
fashionable because there are many products that involve benefits being
payable even before death. There are products for family, kid’s
education, capital accumulation, thrift savings plan and so on. No
matter the type of cover you choose, factors ranging from your needs to
your age and much more will determine your premium. This post is coming
with a purpose of enlightening you on how to purchase a cover that will
be of benefit to you.
How To Choose A Life Insurance Plan
1. DETERMINE YOUR NEED
Before
you fill the proposal form or issue your cheque, the first thing to do
it to determine exactly what your need is. How to do this is to look
within. Answer basic questions like: Are you single or married? Do you have kids and how many? What are your running expenses? Can you afford to keep paying the premium? It
is essential to answer these questions because life insurance involves
premium payment which is periodical. You are to estimate your living
expenses and add the insurance premium and see how it goes. It is
important because once you start should be able to sustain your payment
without which you will not be able to reap your full benefit. Also
answering these questions will go a long way to help in this next step
below.
2. MAKE YOUR CHOICE
There are different life
insurance covers available you can choose from. Here are the basic
plans: Term assurance, whole life assurance and endowment plan.
Term Assurance: provides cover for a specific period and will only
pay out if the life assured dies during the period. It is the most basic
of all life assurance policies. However, if the assured survives, no
payment is made and the policy expires. There are different types of
term assurance:
Level Term Assurance Renewable Term Assurance Convertible Term Assurance Increasing Term Assurance Decreasing Term Assurance Family Income Policy Increasing Family Income Policy Unit-Linked Term Assurance
Whole Life Assurance: is a very simple policy which pays out
whenever the life assured dies. This is different from Term Assurance
because it is a permanent policy, hence it does not expire. It is more
expensive. Whole life is a substantive policy and can be used as
security for loans. There are different types of Whole Life Cover:
Non-profit Whole Life Policy With-profit Whole Life Policy Low-Cost Whole Life Policy Single Premium Unit-Linked Whole Life Policy Regular Premium Unit-Linked Whole Life Policy
Endowment Plan: Allows the sum assured to be payable on a fixed date
– the maturity date – or on the life of assured’s earlier death. What
this mean is that if the assured did not die, the payout will go to him
but if he does, it goes to his beneficiaries. Endowment policies are
substantive policies because there will be payout at a point in the
future and can be used as a security for loans. The following are the
types of endowment policies:
US Insurance Companies and Life Insurance Quotes - The US is one of those countries in the world which boast a major number of life insurance companies. The various companies offer different life insurance quotes to its customers. One must know which policy he needs to cover all his expenses and then go for it.
US Insurance Companies and Its Policies
The popularity of US life insurance policies have grown radically over the past few years. It observed 12% annual growth from the year 2002 to 2004, whereas only 3% growth in its assets was observed by the industry between the year 2000 and 2002.
Out of these, Aviva plc is the fifth-largest insurance group in the world and second-largest insurance group in Canada. AXA is a French insurance group of companies engaged in life, health and other insurances. It ranks as the 15th biggest company in the world. Allianz is one of the largest financial services providers in the world, whose core business focuses around insurance. Besides, there is New York Insurance Company (NYLIC), which is the largest mutual life-insurance company in the United States. It is also considered as the largest life insurers in the world. All these insurance companies and many others as well offer various insurance quotes, which not only cover the insurer's life, but also provide security against any loss of income and such accidents.
What type of financial state would your loved ones be left in if you were to die? While not pleasant, at some point this question becomes necessary to think about. If you don't currently possess a life insurance policy you may want to think about investing in one for the well being of those you care about. In the case that you do have a sufficient coverage it could be beneficial to consult with your local insurance agent about whether or not the payout would be adequate for your needs. Our Insurance Agency in Lincoln, Nebraska often answers questions about life and other types of insurance. Your local insurance agent will answer any questions you have.
As in the case of any other brand of insurance, a life policy is a contract between the insurer and the policy owner (policy holder). A benefit is paid to the beneficiary or beneficiaries which are designated by the policy owner. The benefit is paid out when and if an insured event occurs which is covered by the policy; usually death, accidental death, and sickness. Often specific exclusions are included in the policy to limit the liability of the insurer. These tend to include suicide (usually not covered for the first two years of the policy), war, fraud, riot and civil commotion.
Within the life category there are a variety of policies that may suit you. There is: temporary (term) life insurance, accidental death, and permanent life including whole life coverage, universal life coverage, limited-pay life, an endowment policy. Term life covers a specified term of years for a specified premium. Accidental death insurance is often referred to as accidental death and dismemberment insurance. These policies are typically less expensive because they only cover accidents.
Giving your local insurance agent a call is the best way to determine if you need life insurance, or if the life policy you already own is adequate. While you could contact any of the 1-800 agent numbers that are frequently advertised; they won't be able to sit down and talk with you about your life like your local insurance agent will. Depending on the type of policy you already possess or decide to get, your financial well being and the financial well being of those you love may be on the line. This makes your life coverage something important to think about.
By consulting with your local insurance agent you may find they can provide you with multiple policies at a price discount. This saves you money you can invest and further save for yourself or those you care about. After all, life insurance [http://www.insuranceagentlincoln.com/insurance-coverage/life-insurance.html] not only insures your life; it insures the quality of life for those that survive you.
