By Martin Smith
When you go shopping for a cellular phone it's nice to think that you are getting value for money. We know that we are getting the $400 phone for only $50 but we are signing a contract for one year or possibly two years in order to get this. The phone is actually subsidized by the service provider so over the period of the contract you are actually paying full price between your monthly charge and your phone calls.
Now when you were in your local store they will try to add some extras onto this for you. It may simply be a car charger or they may offer insurance for your cell phone. The idea behind ensuring your phone is to help pay the cost of replacing it if you happen to lose it or it breaks. Overall the cost of insuring is actually quite reasonable and may only be a couple of dollars per month's for the term of the plan. The majority of people that decide to go for this may never actually benefit but this is a great way for the cell phone providers to make extra money.
Like all types of insurance you need to check the terms and conditions of this before you decide to sign any type of contract. Lots of people assume that once they have their phone ensured that they are covert for all types of damage that may occur. The vast majority of these can be left disappointed.
If you have damaged your phone it may need to be prepared this cost will be covered as you have insured but there may be a deductible of $50 that could apply. This basically means that for any repair the first $50 would not be covert so if the cost is $100 you have to pay $50 up front and the insured cover will cover the rest. This is standard practice in home insurance that I have seen before so you need to have an understanding if this applies to your cellular phone also.
Some people of course are particularly hard on their phones and have had the misfortune of losing its, getting it stolen or easily damaged. For these type of people may be insurance is a benefit is however you do not have any of these problems or have had these things happened in the past you need to make sure that insurance is actually right for you. In some retail stores they can be very pushy in trying to sell this to you as an extra you're not obliged to take this or sign any contract. You need to make sure it is right for you and benefits you before any decisions are made.
Martin Smith is a writer providing advice on Android Cell Phone if you have time drop by his site for some tips and information.
Article Source: http://EzineArticles.com/?expert=Martin_Smith
Saturday, May 2, 2009
Do You Really Need to Insure Your Cell Phone?
Posted by Jacob at 8:03 AM 0 comments
Wednesday, August 1, 2007
Insurance - Necessary For Peace of Mind
Insurance is a policy where you invest a certain amount, that you do not get back, that will pay you in the event of a predetermined event.
Insurance Glossary of Terms:
Assured - Those insured under the terms of an insurance policy.
Benefit - The money paid to the policyholder when a claim is made.
Bid Price - The selling price or cash-in value of your unit holdings.
Bonus - Relates to a with-profits policy. The amount of money added to the benefit payable under the policy. The amount is dependent upon the profits made by the insurance company. Added bonuses cannot be taken away.
Convertible Term Assurance - A term insurance policy which gives you the option to convert your current policy to a whole-life or endowment insurance policy, without having to take further medical examinations.
Critical Illness Insurance - A policy that pays out a lump sum on the diagnosis of life threatening illnesses indicated in the terms of the plan.
Decreasing Term - A form of term life insurance where the death benefit decreases each year as per your policy. Premiums remain level. This type of certificate is frequently sold as mortgage insurance. There is no surrender value for this policy.
Endowment Insurance - An insurance policy that pays a stated amount at the end of a specified period or upon the death of the insured if it occurs within that period.
Family Income Benefit - Term assurance which pays money to the life assured’s dependants for a set period, rather than paying a lump sum.
Guaranteed Bond - A bond in which principal and interest are guaranteed by an entity other than the issuer. Guaranteed Bonds can be income or growth.
Increasing Term - The cover and the amount you pay into the policy are increased by a specific percentage each year calculated on the original sum insured. Designed as a way to increase your life cover as your earnings increase.
Investment Bond - Combines investment with some life cover. The payments you make into an insurance policy or investment bond, usually a lump sum, are invested in the insurance company's with-profits or unit-linked funds (Life Funds). Different types of bonds include the guaranteed bond and unit-linked single premium bond. Not to be confused with a company or government bond, an investment that offers a fixed rate of interest and an area where your chosen Life Funds may be invested.
Life Fund - This usually refers to Unit linked Investment Funds. These are funds run by Life Assurance or Pension Companies. Such funds are used for individuals holding life assurance policies to invest in. The assets held within the fund are divided into a number of units. When an investor contributes to a Life Fund, units are allocated to investors in proportion to their investment.
Maturity - An agreed date when an endowment policy ends and the proceeds, including any bonuses, are payable.
Mutual - A life insurance company that is owned by its with-profits policyholders.
Offer Price - The price at which fund units are bought.
Premium - The amount of money paid into an insurance policy.
Proprietary - A life insurance company that issues its profits to its shareholders.
Qualifying Policy - A life assurance based savings plan that has to be written for a minimum of 10 years and must fulfill certain qualifying policy criteria to ensure the final payout is tax free.
Renewable Term - Term Insurance that may be renewed for another term without evidence of insurability.
Single Premium Policy - Where a single lump sum is paid for an insurance policy.
Sum Insured - The amount of money that is guaranteed to be paid under an insurance policy, before any bonuses are added.
Surrender Value - Not applicable to all life insurance policies. The amount that an insurance policyholder is entitled to receive when he or she discontinues coverage
Term Insurance - Provides policyholder with protection only. Life insurance payable to a beneficiary only when an insured dies within a specified number of years (the term). If you live beyond the term you do not receive any payment. This is thought to be the cheapest type of insurance.
Terminal Bonus - This is an extra bonus determined when a death or maturity claim is paid. Terminal bonus is often only paid if the policy has been in-force for a minimum number of years at claim time. The amount is dependent upon the profits made by the insurance company.
Unitised With Profits Fund - Also known as a Unit-Linked With Profits Fund. A type of Life Fund that can invest in shares, property, fixed interest securities and cash. When you invest in this fund through an insurance policy, you buy 'units'. When an annual bonus is declared, you can either receive more units or it is added to the unit price on a daily basis. Due to the addition of bonuses the unit price does not reflect the value of the underlying investments.
Unit-Linked - Also called Unitised. If your insurance policy is unit-linked, some of your money is used to purchase 'units' in a fund. The value of your policy at maturity is dependent upon the growth of the fund in which the policy is invested. Generally refers to policies that offer protection and saving such as endowment insurance, whole life insurance and investment bonds.
Unit-Linked Single Premium Bond - A single lump sum life insurance policy where your investment is spread over a number of Life Funds.
Whole Life Insurance - Whole life insurance provides a death benefit for the policyholder as it builds up cash value. The policy remains in force for the lifetime of the insured, as long as premiums are paid according to the policy agreement. You can choose insurance that pays out on death a guaranteed sum only, the sum plus any bonuses that have been added, or the sum plus any additional value from the growth of the funds invested in.
Without Profits - When a policy reaches maturity or the policyholder dies, the amount paid out is the basic guaranteed sum only. You would not be entitled to any bonuses.
With Profits - Relates to insurance policies that combine investment with protection. This type of policy is entitled to a share of the profits made by the insurance company. Premiums are invested in the with profit fund, reverse bonuses are applied usually on an annual basis which reflect the investment growth of the fund assets. On death and/or maturity a further terminal bonus might be applied to the fund value.
With Profits Bond - An insurance policy where your lump sum is in most cases invested in a Unitised With Profits Fund (which is listed under the Life Funds section).
Excess - Most claims are subject to an excess which is stipulated in your policy. If you opt for a higher excess, your monthly premiums will be less. In an average policy the excess is usually between 750.00 and 1000.00 If you make your excess 2000.00, you will also protect your no-claim bonus, by not claiming for small amounts during the year, which will result in your premiums being lowered the following year.
Market Value - The replacement value of goods, increases all the time. The only exception is Motor Vehicles. Make sure you car is only insured at the market value. A car you bought 5 years ago will not have the same market value today. So check with your broker or insurance company that you are only paying for the market value and that it is reduced on an annual basis.
What is Life Insurance?
Life insurance protects you and your family from economic hardship as a result of death. It is an insurance company’s obligation to pay the recipient of your choice a pre-determined amount of money when you die in exchange for timely payment of premiums while you are living.
The Different Types of Life Insurance Explained:
There are numerous companies existing today that offer life insurance policies. Though the crux of the policy (to ensure a safe and sound life of an individual's survivors as well as to the individual) does not alter yet companies try to differ with each other by making different classifications or bifurcations.
Broadly the life insurance is divided into two parts;
1. Term Life Insurance Policy- Anyone can opt for a term life insurance. This type of policy is basically meant to cover a person's short term requirements. For instance if the policyholder unfortunately meets with a grave accident, he can claim for the insurance amount. But it also compensates the bereaved in the case of death of a family member. All in all it is a policy that helps in covering potential need for life insurance in the short run.
Term life insurance is usually a renewable and convertible program. It ranges from one to hundred years. If it is a one year program then the cost of its coverage increases after every one year till the time it expires. Generally the expiry is at the age of 75. While if the policy is term to the age of 100 along with cash value it subsequently becomes a part of the insurance for 'whole life'. Quite often it is noticed that it is cheaper to buy a whole life insurance policy than a non-cash one in value Term 100 policy.
2. Permanent Life Insurance- this is life insurance for the entire life of the individual. The value of this policy increases throughout the time one participates in the program. Terms such as Par and Non-Par are widely used in this context. Par whole life coverage generates dividends that are a partial return of the premium paid for coverage and investment growth. The amount of dividends keeps on changing from annually. On the other hand the non-par whole life insurance policies offer no dividends. The future cash values in these cases are not projected but assured or guaranteed.
What Is Health Insurance?
Health insurance is simply protection of the person or group insured against financial loss from illness or injury. Can you live without it? Probably. Should you? The answer depends upon whom you ask. Like other forms of insurance, you don't need health insurance until you NEED it. Automobile insurance doesn't help until you get into a car accident. Life insurance isn't of value until you die. And health insurance doesn't do you any good until you need medical assistance.
What Is Car Insurance?
Owning and driving a car means taking on many risks to yourself and others. When a traffic accident happens, damage, injuries, loss or all of these factors may be inflicted upon you and others. Damage and loss of your property may also occur. Fire, theft, vandalism and natural disasters are other possible risks.
Car Insurance protects motorists and drivers against liability in the event of accidents they may cause. It can also provide cover for the motorist's own vehicle. Car insurance is a contract between you and the insurer, specifying each party's rights and obligations. Essentially the car insurance company promises to provide specific coverage for you in return for your payment of the car insurance premium.
Car insurance is what safeguards you against loss due to traffic accidents, thefts or other reasons. Taking out car insurance is very important as insurance is what secures you from economic loss or damages. In case you do not have car insurance and you are involved in an accident, in spite of who is at fault, you will be paying the compensation concerned with damages. Car insurance is designed to protect yourself and others against these risks.
There are two main types of car insurance policies available:
Third Party - Third party insurance covers the insured when driving on private property as well as on public roads. This policy offers protection against legal liabilities as well as covering third party claims.
Comprehensive - Comprehensive insurance cover is the most popular form of cover, the most important addition being accidental damage cover, where policyholders can get their own vehicle repaired in case of damage. For people who want to be covered against as many risks as possible, then comprehensive policies is the solution.
What is Home Insurance?
Home Insurance is designed to provide you with financial protection against any damage and possible risks that your property and possessions within it may face against unforeseen events and circumstances.
Home insurance is commonly taken to describe both buildings insurance, which insures the fabric of your property, and contents insurance, which covers your belongings. Basically it is a contract you make with an insurance company. You have to pay a premium and in return the insurance company will pay for financial losses that are related to your property or your home during the period of the contract.
Home insurance, also known as Household insurance or Buildings and Contents insurance, provides protection against loss or damage of your property. Protecting this investment against fire, flood, theft and other risks is essential to ensure that you have the necessary financial assistance available, so that you can carry on with life.
Insurance Claims:
When you are involved in an accident insurance claims may not be the first thoughts on your mind. However, there are some procedures you should follow in order to preserve your right to file an insurance claim. This may be anything from hail damage to a stolen vehicle and does not refer solely to car accidents. The first thing you want to do is prevention.
Most insurance claims can be prevented even before the incident occurs. For instance, to prevent auto accident's be cautious and think about taking a defensive driving course. To prevent stolen vehicle insurance claims, keep you vehicle locked up and parked in a secure place. To prevent damage from the forces of nature do not travel in bad weather and keep your car in a covered parkway. There are many ways to prevent yourself from incurring loss.
Most ideas are just common sense. However, for more information contact your insurance agent for ideas on prevention. Next, you will want to remain calm. When disaster strikes people react. That is our nature. However, sometimes people's reactions can make things worse on their insurance claims. If you're in a car accident this might mean taking the blame, leaving the scene of an accident, or putting your self in danger. If you're car is stolen you may act on your reaction by accusing innocent persons.
There are a number of problems that can arise when people over react that is why it is essential to your insurance claim for you to remain calm. Now, the next thing you need to be aware of is time. You see, time is not on your side when filing an insurance claim. The longer you wait the less your chances are of recovering your loss. Most insurance companies will not even consider a claim if it was turned in a certain amount of time after the incident. It is also harder to prove the longer you go before submitting an insurance claim. Finally, you will want to follow procedures and document everything. Insurance companies are hit with frauds all the time.
Filing An Insurance Claim:
Everything seemed pretty simple when you purchased that insurance policy. If you have a loss, just tell the insurance company about it and you will get paid - Right? Well.... it may not be quite that easy. There are some basic steps you should follow to make sure your insurance claim is paid quickly and fully.
Prepare - in advance. The single most important thing that will make your life easier in the event of a loss is to be well prepared in advance. Do you have offsite copies of your computer files? What about paper files? If this is some kind of property loss, you will need to document the value. If you have to try to reconstruct records that were destroyed, it will delay your insurance payment and make it much harder for you to prove the value of your loss.
Estimate your loss. While it may not be possible to know the full extent of the loss, develop an estimate. If it is close to or below your deductible, you are probably better off not filing the insurance claim. Your rates will be based in part on your claims history so there is no advantage to you in filing a claim you will end up paying for out of your own pocket. Be careful, however, as most insurance policies require you to report a loss within a certain timeframe, usually 2 - 4 weeks.
Call your agent. Many insurance companies ask that you report your claim directly to the claims department. This is more efficient for them but not necessarily better for you. Your insurance agent may represent the company but his income depends on keeping his customers happy. Independent agents, in particular, are small business owners and owe their primary loyalty to their business. If you're a small business owner, your insurance agent understands that his business depends on keeping his customers happy.
Keep in touch with the adjuster. Ultimately the insurance company will assign an adjuster to work with you to estimate and pay the loss. Work closely with the adjuster and respond quickly and completely to his requests for information. The easier you make his job, the quicker you will get paid.
Consider an independent adjuster. If your loss is large and complex, it may pay you to hire an independent adjuster to work on your behalf. If you do decide to take this step, make sure you hire an adjuster who has experience with your type of business loss. Insurance settlement:
SBI Life Insurance products:
SBI Life Insurance is a joint venture between the State Bank of India and Cardif SA of France. SBI Life Insurance is registered with an authorized capital of Rs 1000 crore and a paid up capital of Rs 500 crores. SBI owns 74% of the total capital and Cardif the remaining 26%.
State Bank of India enjoys the largest banking franchise in India. Along with its 7 Associate Banks, SBI Group has the unrivalled strength of over 14,500 branches across the country, arguably the largest in the world. Cardif is a wholly owned subsidiary of BNP Paribas, which is the Euro Zone’s leading Bank. BNP Paribas is one of the oldest foreign banks with a presence in India dating back to 1860. Cardif is ranked 2nd worldwide in creditor’s insurance offering protection to over 35 million policyholders and net income in excess of Euro 1 billion. Cardif has also been a pioneer in the art of selling insurance products through commercial banks in France and in 35 more countries.
Reliance Life Insurance products:
Reliance Life Insurance Company Limited is a part of Reliance Capital Ltd. of the Reliance - Anil Dhirubhai Ambani Group. Reliance Capital is one of India’s leading private sector financial services companies, and ranks among the top 3 private sector financial services and banking companies, in terms of net worth. Reliance Capital has interests in asset management and mutual funds, stock broking, life and general insurance, proprietary investments, private equity and other activities in financial services.
Reliance Capital Limited (RCL) is a Non-Banking Financial Company (NBFC) registered with the Reserve Bank of India under section 45-IA of the Reserve Bank of India Act, 1934.
Reliance Capital sees immense potential in the rapidly growing financial services sector in India and aims to become a dominant player in this industry and offer fully integrated financial services.
1. Savings (Endowment) Plan
2. Retirement Plan
3. Unit Linked Plan
4. Risk / Protection Plan
5. Risk (Protection) Plan
6. Pensions Plan
BAJAJ ALLIANZ Life Insurance products:
Invest in Bajaj Allianz Life "Capital Unit Gain" policy-a regular-premium unit-linked policy, which offers potentially higher returns that systematically enable you to meet your long-term financial objectives. For policy to stay in force, policy holder needs to pay premium for minimum 3 years. Rs.12,000 Minimum Premium to be paid for 3 years. Four Lacs (4,00,000) Sum assured in case of Natural Death for Age group (0-45 years). Three lacs (3,00,000) Sum assured in case of Natural Death for Age group (46-50 years). Accidental death benefit Four lacs (4,00,000) for Age group (18-45 years). Accidental death benefit Three lacs 3,00,000) for Age group (46-50 years). Here, you will get a great oppurtunity to work as an "Insurance Advisor" & earn a maximum of Rs.1,30,000 weekly through your contacts. No written test or interview required to promote this insurance product. With the help of our Sponsor name, one can do easy online joining by reaching their website Click Here to Apply Online
Select package: RMPECPLCUGPlan-Capital Unit Gain Plan,
Our Sponsor user name: JACOB69,
Track ID: RMPJACOB69041105
Insurance Glossary of Terms:
Assured - Those insured under the terms of an insurance policy.
Benefit - The money paid to the policyholder when a claim is made.
Bid Price - The selling price or cash-in value of your unit holdings.
Bonus - Relates to a with-profits policy. The amount of money added to the benefit payable under the policy. The amount is dependent upon the profits made by the insurance company. Added bonuses cannot be taken away.
Convertible Term Assurance - A term insurance policy which gives you the option to convert your current policy to a whole-life or endowment insurance policy, without having to take further medical examinations.
Critical Illness Insurance - A policy that pays out a lump sum on the diagnosis of life threatening illnesses indicated in the terms of the plan.
Decreasing Term - A form of term life insurance where the death benefit decreases each year as per your policy. Premiums remain level. This type of certificate is frequently sold as mortgage insurance. There is no surrender value for this policy.
Endowment Insurance - An insurance policy that pays a stated amount at the end of a specified period or upon the death of the insured if it occurs within that period.
Family Income Benefit - Term assurance which pays money to the life assured’s dependants for a set period, rather than paying a lump sum.
Guaranteed Bond - A bond in which principal and interest are guaranteed by an entity other than the issuer. Guaranteed Bonds can be income or growth.
Increasing Term - The cover and the amount you pay into the policy are increased by a specific percentage each year calculated on the original sum insured. Designed as a way to increase your life cover as your earnings increase.
Investment Bond - Combines investment with some life cover. The payments you make into an insurance policy or investment bond, usually a lump sum, are invested in the insurance company's with-profits or unit-linked funds (Life Funds). Different types of bonds include the guaranteed bond and unit-linked single premium bond. Not to be confused with a company or government bond, an investment that offers a fixed rate of interest and an area where your chosen Life Funds may be invested.
Life Fund - This usually refers to Unit linked Investment Funds. These are funds run by Life Assurance or Pension Companies. Such funds are used for individuals holding life assurance policies to invest in. The assets held within the fund are divided into a number of units. When an investor contributes to a Life Fund, units are allocated to investors in proportion to their investment.
Maturity - An agreed date when an endowment policy ends and the proceeds, including any bonuses, are payable.
Mutual - A life insurance company that is owned by its with-profits policyholders.
Offer Price - The price at which fund units are bought.
Premium - The amount of money paid into an insurance policy.
Proprietary - A life insurance company that issues its profits to its shareholders.
Qualifying Policy - A life assurance based savings plan that has to be written for a minimum of 10 years and must fulfill certain qualifying policy criteria to ensure the final payout is tax free.
Renewable Term - Term Insurance that may be renewed for another term without evidence of insurability.
Single Premium Policy - Where a single lump sum is paid for an insurance policy.
Sum Insured - The amount of money that is guaranteed to be paid under an insurance policy, before any bonuses are added.
Surrender Value - Not applicable to all life insurance policies. The amount that an insurance policyholder is entitled to receive when he or she discontinues coverage
Term Insurance - Provides policyholder with protection only. Life insurance payable to a beneficiary only when an insured dies within a specified number of years (the term). If you live beyond the term you do not receive any payment. This is thought to be the cheapest type of insurance.
Terminal Bonus - This is an extra bonus determined when a death or maturity claim is paid. Terminal bonus is often only paid if the policy has been in-force for a minimum number of years at claim time. The amount is dependent upon the profits made by the insurance company.
Unitised With Profits Fund - Also known as a Unit-Linked With Profits Fund. A type of Life Fund that can invest in shares, property, fixed interest securities and cash. When you invest in this fund through an insurance policy, you buy 'units'. When an annual bonus is declared, you can either receive more units or it is added to the unit price on a daily basis. Due to the addition of bonuses the unit price does not reflect the value of the underlying investments.
Unit-Linked - Also called Unitised. If your insurance policy is unit-linked, some of your money is used to purchase 'units' in a fund. The value of your policy at maturity is dependent upon the growth of the fund in which the policy is invested. Generally refers to policies that offer protection and saving such as endowment insurance, whole life insurance and investment bonds.
Unit-Linked Single Premium Bond - A single lump sum life insurance policy where your investment is spread over a number of Life Funds.
Whole Life Insurance - Whole life insurance provides a death benefit for the policyholder as it builds up cash value. The policy remains in force for the lifetime of the insured, as long as premiums are paid according to the policy agreement. You can choose insurance that pays out on death a guaranteed sum only, the sum plus any bonuses that have been added, or the sum plus any additional value from the growth of the funds invested in.
Without Profits - When a policy reaches maturity or the policyholder dies, the amount paid out is the basic guaranteed sum only. You would not be entitled to any bonuses.
With Profits - Relates to insurance policies that combine investment with protection. This type of policy is entitled to a share of the profits made by the insurance company. Premiums are invested in the with profit fund, reverse bonuses are applied usually on an annual basis which reflect the investment growth of the fund assets. On death and/or maturity a further terminal bonus might be applied to the fund value.
With Profits Bond - An insurance policy where your lump sum is in most cases invested in a Unitised With Profits Fund (which is listed under the Life Funds section).
Excess - Most claims are subject to an excess which is stipulated in your policy. If you opt for a higher excess, your monthly premiums will be less. In an average policy the excess is usually between 750.00 and 1000.00 If you make your excess 2000.00, you will also protect your no-claim bonus, by not claiming for small amounts during the year, which will result in your premiums being lowered the following year.
Market Value - The replacement value of goods, increases all the time. The only exception is Motor Vehicles. Make sure you car is only insured at the market value. A car you bought 5 years ago will not have the same market value today. So check with your broker or insurance company that you are only paying for the market value and that it is reduced on an annual basis.
What is Life Insurance?
Life insurance protects you and your family from economic hardship as a result of death. It is an insurance company’s obligation to pay the recipient of your choice a pre-determined amount of money when you die in exchange for timely payment of premiums while you are living.
The Different Types of Life Insurance Explained:
There are numerous companies existing today that offer life insurance policies. Though the crux of the policy (to ensure a safe and sound life of an individual's survivors as well as to the individual) does not alter yet companies try to differ with each other by making different classifications or bifurcations.
Broadly the life insurance is divided into two parts;
1. Term Life Insurance Policy- Anyone can opt for a term life insurance. This type of policy is basically meant to cover a person's short term requirements. For instance if the policyholder unfortunately meets with a grave accident, he can claim for the insurance amount. But it also compensates the bereaved in the case of death of a family member. All in all it is a policy that helps in covering potential need for life insurance in the short run.
Term life insurance is usually a renewable and convertible program. It ranges from one to hundred years. If it is a one year program then the cost of its coverage increases after every one year till the time it expires. Generally the expiry is at the age of 75. While if the policy is term to the age of 100 along with cash value it subsequently becomes a part of the insurance for 'whole life'. Quite often it is noticed that it is cheaper to buy a whole life insurance policy than a non-cash one in value Term 100 policy.
2. Permanent Life Insurance- this is life insurance for the entire life of the individual. The value of this policy increases throughout the time one participates in the program. Terms such as Par and Non-Par are widely used in this context. Par whole life coverage generates dividends that are a partial return of the premium paid for coverage and investment growth. The amount of dividends keeps on changing from annually. On the other hand the non-par whole life insurance policies offer no dividends. The future cash values in these cases are not projected but assured or guaranteed.
What Is Health Insurance?
Health insurance is simply protection of the person or group insured against financial loss from illness or injury. Can you live without it? Probably. Should you? The answer depends upon whom you ask. Like other forms of insurance, you don't need health insurance until you NEED it. Automobile insurance doesn't help until you get into a car accident. Life insurance isn't of value until you die. And health insurance doesn't do you any good until you need medical assistance.
What Is Car Insurance?
Owning and driving a car means taking on many risks to yourself and others. When a traffic accident happens, damage, injuries, loss or all of these factors may be inflicted upon you and others. Damage and loss of your property may also occur. Fire, theft, vandalism and natural disasters are other possible risks.
Car Insurance protects motorists and drivers against liability in the event of accidents they may cause. It can also provide cover for the motorist's own vehicle. Car insurance is a contract between you and the insurer, specifying each party's rights and obligations. Essentially the car insurance company promises to provide specific coverage for you in return for your payment of the car insurance premium.
Car insurance is what safeguards you against loss due to traffic accidents, thefts or other reasons. Taking out car insurance is very important as insurance is what secures you from economic loss or damages. In case you do not have car insurance and you are involved in an accident, in spite of who is at fault, you will be paying the compensation concerned with damages. Car insurance is designed to protect yourself and others against these risks.
There are two main types of car insurance policies available:
Third Party - Third party insurance covers the insured when driving on private property as well as on public roads. This policy offers protection against legal liabilities as well as covering third party claims.
Comprehensive - Comprehensive insurance cover is the most popular form of cover, the most important addition being accidental damage cover, where policyholders can get their own vehicle repaired in case of damage. For people who want to be covered against as many risks as possible, then comprehensive policies is the solution.
What is Home Insurance?
Home Insurance is designed to provide you with financial protection against any damage and possible risks that your property and possessions within it may face against unforeseen events and circumstances.
Home insurance is commonly taken to describe both buildings insurance, which insures the fabric of your property, and contents insurance, which covers your belongings. Basically it is a contract you make with an insurance company. You have to pay a premium and in return the insurance company will pay for financial losses that are related to your property or your home during the period of the contract.
Home insurance, also known as Household insurance or Buildings and Contents insurance, provides protection against loss or damage of your property. Protecting this investment against fire, flood, theft and other risks is essential to ensure that you have the necessary financial assistance available, so that you can carry on with life.
Insurance Claims:
When you are involved in an accident insurance claims may not be the first thoughts on your mind. However, there are some procedures you should follow in order to preserve your right to file an insurance claim. This may be anything from hail damage to a stolen vehicle and does not refer solely to car accidents. The first thing you want to do is prevention.
Most insurance claims can be prevented even before the incident occurs. For instance, to prevent auto accident's be cautious and think about taking a defensive driving course. To prevent stolen vehicle insurance claims, keep you vehicle locked up and parked in a secure place. To prevent damage from the forces of nature do not travel in bad weather and keep your car in a covered parkway. There are many ways to prevent yourself from incurring loss.
Most ideas are just common sense. However, for more information contact your insurance agent for ideas on prevention. Next, you will want to remain calm. When disaster strikes people react. That is our nature. However, sometimes people's reactions can make things worse on their insurance claims. If you're in a car accident this might mean taking the blame, leaving the scene of an accident, or putting your self in danger. If you're car is stolen you may act on your reaction by accusing innocent persons.
There are a number of problems that can arise when people over react that is why it is essential to your insurance claim for you to remain calm. Now, the next thing you need to be aware of is time. You see, time is not on your side when filing an insurance claim. The longer you wait the less your chances are of recovering your loss. Most insurance companies will not even consider a claim if it was turned in a certain amount of time after the incident. It is also harder to prove the longer you go before submitting an insurance claim. Finally, you will want to follow procedures and document everything. Insurance companies are hit with frauds all the time.
Filing An Insurance Claim:
Everything seemed pretty simple when you purchased that insurance policy. If you have a loss, just tell the insurance company about it and you will get paid - Right? Well.... it may not be quite that easy. There are some basic steps you should follow to make sure your insurance claim is paid quickly and fully.
Prepare - in advance. The single most important thing that will make your life easier in the event of a loss is to be well prepared in advance. Do you have offsite copies of your computer files? What about paper files? If this is some kind of property loss, you will need to document the value. If you have to try to reconstruct records that were destroyed, it will delay your insurance payment and make it much harder for you to prove the value of your loss.
Estimate your loss. While it may not be possible to know the full extent of the loss, develop an estimate. If it is close to or below your deductible, you are probably better off not filing the insurance claim. Your rates will be based in part on your claims history so there is no advantage to you in filing a claim you will end up paying for out of your own pocket. Be careful, however, as most insurance policies require you to report a loss within a certain timeframe, usually 2 - 4 weeks.
Call your agent. Many insurance companies ask that you report your claim directly to the claims department. This is more efficient for them but not necessarily better for you. Your insurance agent may represent the company but his income depends on keeping his customers happy. Independent agents, in particular, are small business owners and owe their primary loyalty to their business. If you're a small business owner, your insurance agent understands that his business depends on keeping his customers happy.
Keep in touch with the adjuster. Ultimately the insurance company will assign an adjuster to work with you to estimate and pay the loss. Work closely with the adjuster and respond quickly and completely to his requests for information. The easier you make his job, the quicker you will get paid.
Consider an independent adjuster. If your loss is large and complex, it may pay you to hire an independent adjuster to work on your behalf. If you do decide to take this step, make sure you hire an adjuster who has experience with your type of business loss. Insurance settlement:
SBI Life Insurance products:
SBI Life Insurance is a joint venture between the State Bank of India and Cardif SA of France. SBI Life Insurance is registered with an authorized capital of Rs 1000 crore and a paid up capital of Rs 500 crores. SBI owns 74% of the total capital and Cardif the remaining 26%.
State Bank of India enjoys the largest banking franchise in India. Along with its 7 Associate Banks, SBI Group has the unrivalled strength of over 14,500 branches across the country, arguably the largest in the world. Cardif is a wholly owned subsidiary of BNP Paribas, which is the Euro Zone’s leading Bank. BNP Paribas is one of the oldest foreign banks with a presence in India dating back to 1860. Cardif is ranked 2nd worldwide in creditor’s insurance offering protection to over 35 million policyholders and net income in excess of Euro 1 billion. Cardif has also been a pioneer in the art of selling insurance products through commercial banks in France and in 35 more countries.
Reliance Life Insurance products:
Reliance Life Insurance Company Limited is a part of Reliance Capital Ltd. of the Reliance - Anil Dhirubhai Ambani Group. Reliance Capital is one of India’s leading private sector financial services companies, and ranks among the top 3 private sector financial services and banking companies, in terms of net worth. Reliance Capital has interests in asset management and mutual funds, stock broking, life and general insurance, proprietary investments, private equity and other activities in financial services.
Reliance Capital Limited (RCL) is a Non-Banking Financial Company (NBFC) registered with the Reserve Bank of India under section 45-IA of the Reserve Bank of India Act, 1934.
Reliance Capital sees immense potential in the rapidly growing financial services sector in India and aims to become a dominant player in this industry and offer fully integrated financial services.
1. Savings (Endowment) Plan
2. Retirement Plan
3. Unit Linked Plan
4. Risk / Protection Plan
5. Risk (Protection) Plan
6. Pensions Plan
BAJAJ ALLIANZ Life Insurance products:
Invest in Bajaj Allianz Life "Capital Unit Gain" policy-a regular-premium unit-linked policy, which offers potentially higher returns that systematically enable you to meet your long-term financial objectives. For policy to stay in force, policy holder needs to pay premium for minimum 3 years. Rs.12,000 Minimum Premium to be paid for 3 years. Four Lacs (4,00,000) Sum assured in case of Natural Death for Age group (0-45 years). Three lacs (3,00,000) Sum assured in case of Natural Death for Age group (46-50 years). Accidental death benefit Four lacs (4,00,000) for Age group (18-45 years). Accidental death benefit Three lacs 3,00,000) for Age group (46-50 years). Here, you will get a great oppurtunity to work as an "Insurance Advisor" & earn a maximum of Rs.1,30,000 weekly through your contacts. No written test or interview required to promote this insurance product. With the help of our Sponsor name, one can do easy online joining by reaching their website Click Here to Apply Online
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Posted by Jacob at 4:10 AM 0 comments
Labels: accident, age, care, claim, cover, coverage, fund, health, health insurance, insurance, insurance claim, insurance policy, life, life insurance, policy, premium
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