Monday 11 November 2013

Long Term Care Insurance Policy Benefits

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Comparing Hybrid Life Insurance Policies Combining Long Term Care Benefits Is Essential Says American Association for Long Term Care Insurance Report.

LOS ANGELES, CA--(Marketwired - Nov 11, 2013) - Life insurance policies that offer long term care insurance benefits are gaining popularity but your future payouts can vary significantly according to a new analysis.

"Interest in hybrid life insurance policies that provide a death benefit to your heirs plus long term care benefits to you if you need them is growing," explains Jesse Slome, director of the American Association for Long-Term Care Insurance (AALTCI). "The guarantee that you'll use the coverage is an attractive proposition but your future payouts, the policy guarantee provisions and even the qualification processes can vary widely, something few consumers are aware of."

Traditionally, these combination life insurance policies, also referred to as hybrid long-term care insurance, have required a one-time premium payment of $75,000 to $100,000 or more. "Insurance companies are introducing lower-cost options that permit annual or multiple payments," Slome notes. "We expect sales of combination long-term care products to grow over the next five years as more life insurance companies add a long-term care (LTC) benefit option to new or existing policies."

47% Less Long Term Care Cash; 17% More Death Benefit
Someone buying a combination LTC policy at age 60 will likely live and start needing long term care at age 85, Slome suggests. "Our analysis found that one combination policy will pay a maximum monthly long term care benefit of $10,846 at age 85 while another will only pay $5,731, some 47 percent less," Slome reports. "If you die at age 85, the first policy pays a death benefit of $128,057 while the second pays 17 percent more ($150,374). If you are about to pay $100,000, it certainly is worth doing some comparison shopping."

One of the features consumers find attractive with combination LTC policies is the guaranteed return of premium. "The money back option is a big selling point," Slome says. "Again, the contractual language governs how this works. Deposit $100,000 with one company and you can get it back but only for 15 years after which the payback declines to $80,000 in year 16. Another won't pay back the full $100,000 until the fifth year."

Not everyone will qualify for a combination life plus long-term care policy and some insurers now have age limits. "There are still health standards to meet," Slome shares. "A phone call typically suffices with one company while another requires para-med exams plus contact with your doctors. Ask what you can expect before starting the application process."

Financial advisors are increasingly offering combination long-term care insurance policies as an alternative to traditional long-term care insurance. "An experienced long-term care insurance specialist will typically be knowledgeable in both and will have access to combo products from multiple insurers, but you need to ask," Slome advises.

The Association suggests three questions to determine expertise in the field. Do you offer both traditional long-term care insurance and combination long-term care policies? How many years have you focused on long-term care planning? How many long-term care insurers are you appointed with?

To learn more about combination long term care insurance policies or to request policy comparisons call the American Association for Long-Term Care Insurance at (818) 597-3227.

Contact:
American Association for Long-Term Care Insurance
(818) 597-3227

Thursday 7 November 2013

Save upto 75% on Car Insurance, Real Rates, Save Real Money

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Insurance Step works with the top insurance companies across the nation. No matter what type of car you drive, Insurance Step will help you save hundreds of dollars per year.

Avg. Premium:

        Liablity                      $442
        Collision                   $350
        Comprehensive       $102
        Total                         $754


Minimum Coverage:

                        Liablity                       $15k
                        Collision                    $30k
                        Comprehensive        $5k

We have two options to save you money. Our form takes about a minute to fill out and connects you directly with insurance companies and insurance agents. They will call or email you and offer you discounts that are applicable to your situation. We also offer a self-service model, where you can get direct quotes on insurance company websites and usually buy your policy online. Where possible, we only show you relevant results based on your state, the type of insurance you are looking for, and any other parameters you have told us, such as whether or not you own a home. Our goal is to save you time by showing you only the most relevant offers.

Auto Insurance Shopping Tips: The Right Policy for the Lowest Rate

While we always recommend that you speak to a licensed insurance agent, here are some simple tips that can help you save money and get the right policy: Shop around. This is always the most important tip. Every insurance company has its own pricing algorithms that consider a wide variety of factors such as age, credit, and driving record. No company is the cheapest or most expensive for all drivers. The only way you can know for sure what a company’s rate is for your situation is to get a quote from that company or from one of its appointed agents.

Decide what coverage you really need. For example, will you really need a rental car if you get into an accident or does your local body shop provide one free? Do you really want comprehensive coverage for your older vehicle? Do you have significant assets to protect that require high liability limits?

Think carefully about your deductibles. If you drive cautiously and are not likely to have an accident, you might choose to pay a higher deductible and save money on your monthly premiums. On the other hand, if you must have your car for work and you can’t save up enough money to pay off a high deductible, you may be better off to pay higher premiums for a lower deductible. Think through the scenarios to make sure the insurance you are buying will work for your situation. Please contact for insurance policy: http://insurancestep.com


For more news check out: http://tahirzaheer.blogspot.com/

Saturday 26 October 2013

American Health and Life Insurance, Sears Life Insurance and Triton Insurance Companies

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A.M. Best Co. has affirmed the financial strength ratings (FSR) of A- (Excellent) and issuer credit ratings (ICR) a- of American Health and Life Insurance Company (AHLIC) and Sears Life Insurance Company (Sears Life). Concurrently, A.M. Best has affirmed the FSR of A (Excellent) and ICR of a of Triton Insurance Company (Triton). The outlook for all ratings is stable. These companies are ultimately owned by Citigroup Inc. [NYSE: C]. All companies are domiciled in Fort Worth, TX.
AHLIC’s ratings reflect its stabilizing premium trends and favorable capitalization, partially offset by its continued exposure to downturns in the financial products marketplace and A.M. Best’s view that the company has a reduced strategic value to its ultimate parent. Despite a one-time 2010 net premium increase resulting from a reinsurance transaction with a former affiliated company, National Benefit Life Insurance Company, A.M. Best notes that AHLIC’s top line premium growth has remained flat over the past year, triggered by lower average loan volumes in 2011 and 2012 from OneMain Financial and CitiFinancial Canada, Citigroup Inc.’s consumer finance business. However, AHLIC has seen an improvement in its average loan values in 2013. Although there has been a decrease in AHLIC’s capital and surplus average balance over the past three years, it is primarily due to large dividend payments to Citigroup Inc., with the objective to right size its capital balance and maintain above average risk-based capital ratios. AHLIC is included in Citi Holdings, which are businesses and portfolios of assets that Citigroup Inc. has determined are not central to its core business. Despite recent shareholder dividend payments, AHLIC maintains strong risk-adjusted capitalization ratios, consistently positive statutory operating results and continued sales of its core credit products and other specialty products.

The ratings of Sears Life acknowledge its strong risk-adjusted capitalization and continuing operating profitability. These positive rating factors are offset by Sears Life’s nominal business position within Citi Assurance Services, Inc. (CAS) and its anticipated future declining trends in life/health premium activities and earnings.

The ratings of Triton, CAS’ property/casualty operation, recognize its historically strong operating performance and superior risk-adjusted, albeit declining, capitalization, which is largely due to its significant dividend payments to Citigroup Inc. These positive rating factors are reflective of Triton’s management’s expertise in consumer finance oriented products and the company’s conservative underwriting leverage.

Partially offsetting these positive rating factors are Triton’s distribution dependence on OneMain Financial and CitiFinancial Canada and the underwriting sensitivity of its involuntary unemployment insurance business regarding initial unemployment claims filed in the United States and Canada. This is evidenced by Triton’s substantially lower underwriting profitability in 2008 and 2009, and its rebound in underwriting profitability in more recent years.

While the companies are well positioned at their current rating levels, there could be negative pressure on the ratings and/or outlook should operating performance or risk-based capital measures materially deteriorate or any material change should occur in the rating of Citigroup Inc.

The methodology used in determining these ratings is Best’s Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best’s rating process and contains the different rating criteria employed in the rating process.


For more news: http://tahirzaheer.blogspot.com/


Tuesday 22 October 2013

12.4% Drop in Car Insurance Premiums

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Car Insurance Premiums have dropped at a record rate of 12% year-on-year amid a tougher crack down to combat bogus motor accident claims which add to the costs of everyone's policies.  The typical quote for annual comprehensive car insurance cover was £568 in October, marking a 4.5% drop on July and a 12.4% drop on a year ago, according to the latest AA Insurance premium index, which takes the average of the five cheapest quotes on the market.

This is the biggest annual slide that the AA has on its records, which go back to 1994, and marks a sharp turnaround for motorists following a period of strong increases, with premiums rising by more than 40% just two years ago.  People aged in their early 20s to late 30s have typically seen the biggest drops in their insurance premiums over the last year, with falls recorded across all age groups, AA Insurance said. Drivers in Scotland have seen the biggest fall in their premiums over the last quarter, with a 5.5% drop taking costs to £424 on average. Scotland remains the cheapest place to insure a car in the UK.

East Anglia has seen the smallest drop over the last three months, with a 1.4% fall taking average premiums to £538. The North West has the highest average premiums at £899 typically, although this marks a 5.1% drop compared with the previous quarter. The findings come as Justice Secretary Chris Grayling unveiled tougher action to combat whiplash injury fraud. New independent medical panels will be introduced under the plans, which will make it harder for people to exaggerate or make up injury claims. Insurers estimate bogus whiplash claims typically add an extra £90 to a driver's policy.

There have also been recent signs of stronger action to break up criminal gangs who take part in scams such as "crash for cash", when a driver deliberately slams on their brakes so that the unsuspecting motorist behind hits them. A newer variation of this is called "flash for cash", where a fraudster flashes their car headlights to give the impression they are going to allow another driver to pull out into the road and then deliberately rams into the other vehicle.

Simon Douglas, director of AA Insurance, said that the car insurance market has become more competitive as insurers reduce their rates based on the savings they anticipate making. He said: "The insurance industry is working hard with enforcement agencies to bring those attempting to make a fraudulent injury claim to book. "Indeed, there have been some recent widely-publicised arrests of criminal gangs deliberately causing crashes through 'crash for cash' and its new variation, 'flash for cash' scams in order to cash in on insurers by making false whiplash injury claims against innocent motorists. "Honest motorists have been putting up with their premiums being affected by false or exaggerated injury claims for far too long." Drivers aged between 23 and 29 years old have seen the biggest decline in their premiums over the last year, with a typical 15.5% annual drop taking the size of a policy to around £704. Those in the 30 to 39-year-old age group saw the second biggest annual fall at 13.6%, pushing the cost of a typical premium to £492. Motorists aged between 17 and 22 years old have seen the smallest year-on-year drop, with a 4.6% fall taking the average premium to £1,198. Young drivers' premiums are particularly high because of their high accident rate. One fifth of teenage drivers makes a claim within the first six months of driving, AA Insurance said.

Although young men tend to be the cause of many accidents, European "gender equality" rules which came into force last December mean that insurers are no longer allowed to take someone's sex into account when calculating how much they should pay for their car insurance. This means that young women renewing their policies after their first year's driving can expect to see premium increases which will "more than cancel out their first year's no-claim bonus," the study warned.


For more news check out: http://tahirzaheer.blogspot.com/

Saturday 19 October 2013

Upto 75% Save Money On Auto Insurance

Insurance Step works with the top insurance companies across the nation. No matter what type of car you drive, Insurance Step will help you save hundreds of dollars per year.

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We have two options to save you money. Our form takes about a minute to fill out and connects you directly with insurance companies and insurance agents. They will call or email you and offer you discounts that are applicable to your situation. We also offer a self-service model, where you can get direct quotes on insurance company websites and usually buy your policy online. Where possible, we only show you relevant results based on your state, the type of insurance you are looking for, and any other parameters you have told us, such as whether or not you own a home. Our goal is to save you time by showing you only the most relevant offers.

While we always recommend that you speak to a licensed insurance agent, here are some simple tips that can help you save money and get the right policy: Shop around. This is always the most important tip. Every insurance company has its own pricing algorithms that consider a wide variety of factors such as age, credit, and driving record. No company is the cheapest or most expensive for all drivers. The only way you can know for sure what a companyâ??s rate is for your situation is to get a quote from that company or from one of its appointed agents.

Decide what coverage you really need. For example, will you really need a rental car if you get into an accident or does your local body shop provide one free? Do you really want comprehensive coverage for your older vehicle? Do you have significant assets to protect that require high liability limits?

Think carefully about your deductibles. If you drive cautiously and are not likely to have an accident, you might choose to pay a higher deductible and save money on your monthly premiums. On the other hand, if you must have your car for work and you canâ??t save up enough money to pay off a high deductible, you may be better off to pay higher premiums for a lower deductible. Think through the scenarios to make sure the insurance you are buying will work for your situation.

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