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Wednesday, September 7, 2011

Compare Life Insurance Prices Today

Research published this week has revealed that nearly a quarter of Brits have never switched any of the most common financial products sold. As a nation we are reluctant to keep on top of our personal finances, but one financial product you should not fail to ignore is life insurance.

Many people ask themselves the question – do I need life insurance? The short answer is, you do. If you own a house or have children, life insurance is not just a practical step to take, it is a necessity. Not bought life insurance before and looking to save cash by comparing the market?

Follow these top tips on finding the best life insurance cover for your specific needs now.

Life insurance covers a person’s financial obligations after their death, so their family or dependents are looked after when they are unable to do so.

The amount of money the family will receive depends on the policy and what the policy holder opted for when choosing the insurance cover. This is why finding the right level of life insurance for your needs is so important.

Life insurance policies vary widely; some may guarantee a pay-out, whilst others expire after a certain period of time. Some life insurance policies simply offer basic life cover, while others are extensive and cover periods of critical illness. Think about what you will need before making a search for life insurance policies online.

An online form will take minutes to fill in online, but it could leave you with years of peace of mind that your family are taken care of should you pass away unexpectedly.

Whatever policy you choose it’s important that you think about your family’s needs.

Please bear in mind that the majority of life insurance providers will conduct a health test before giving you a quote; this is to determine when you are likely to claim on the insurance in the future.  Therefore, the healthier you are, and usually the younger you are, the cheaper your premiums will be.

Also, if you are taking out a mortgage, the cost of your life insurance will reflect the size of your mortgage, as a large mortgage will mean the insurance company would have to pay out more should you be unable to do so.

The way your family will receive the payout is also something to consider.  With an insurance policy on your mortgage they will typically receive a lump sum to cover the mortgage.   However, with most policies as your mortgage gets smaller throughout the term, so should your mortgage protection insurance premiums.
by moneyexpert.com

Friday, September 2, 2011

How Do Life Insurance Companies Earn?

Life insurance companies are those insurance companies that provide you a value for your life. In other words whatever the person decides the amount as per the terms of your insurance; he will pay it in equal installments over certain period of time. After that person’s death, the whole amount is credited to the deceased’s family account. Many people use it nowadays as a cushion for their family after they pass away.

However have you wondered how do these life insurance companies earn? These companies charge around $30 per month in offering a person 10 year $1mn insurance. On the face of logic, this really seems impossible for the companies, but in reality they do somehow manage to earn that much money. This is because these life insurance companies look for long term investors in stock markets, real estate, bonds & other liquidity market products to earn big profits real time.

All of the life insurance companies rely on their good liquidity position as their major driving factor of higher profit margins and big gains. Insurance companies play a risk and benefit game due to which both factors have to be considered else their poor liquidity position would cause a major collapse to the company.

Long term bonds, stock market shares, mutual funds and real estate shares earn high in real terms for these companies to provide them with enough funds avoiding bankruptcy. As a result what these life insurance companies provide the end user is the main portion of their income which they earn over the long term investments. Since the financial crisis of 2008, many of the insurance companies and banks of the US have collapsed and gone bankrupt, while there are still some big names that were able to withstand such a high crisis. These companies are Allied Insurance, Assurant, CAN Financial, & Hartford etc. These are strong companies suiting all types of your insurance needs.

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