Cheap Insurance - Ten Ways

Cheap insurance? Auto insurance, life insurance, health insurance, liability insurance - whatever type of insurance you need, you can buy it for less. Try the following:

1. Raise you deductible. Why have a $100 deductible if a $1000 deductible won't break you? It may hurt to pay the first thousand someday, but what if meanwhile you saved several thousand? High deductibles mean lower rates. Of course, get quotes with various deductibles, to be sure you're saving enough for the higher risk.

2. Lower your coverage. Insurance agents secretly admit that people usually get sued according to policy limits. You'll be sued for more if your limit is a million than if it's a hundred thousand. A judgement beyond the policy limits is a scary thought, but this can happen no matter what your limits are. If you don't have many assets or much money in the bank, consider lowering your coverage to save money. Get quotes first, of course, to see how much you'll save.

3. Lower the insurance company's risk. Using seatbelts, not smoking, and having alarm systems can mean cheap insurance. Ask your agent about any discounts that are available.

4. Use an independent agent. Why limit yourself to one insurance company? Independents can show you the cheapest policy regardless of which company it's from. Just check a rating service to see if the issuing company is financially solid, especially when buying life insurance.

5. Drop your insurance. The insurance companies will hate me for this one, but consider eliminating some coverages. You need liability coverage on your car, but collision coverage on a $2000 car doesn't make sense. Invest the money elsewhere, and take the $2000 loss once or twice in your life, or maybe never.

6. Buy stocks instead of insurance. If you and your wife both have good incomes, it probably makes more sense to invest your money than to buy life insurance. If loved ones have enough income or assets, life insurance premiums are usually wasted money.

7. Get rebates. Some states that allows "rebating". California law, for example, allows agents to rebate part of their commission to you. If you live in a non-rebating stae, find a California company online!

8. Get the legal minimums. If you have no assets to protect, ask for state-mandated minimums on auto liability policies. Most companies give you their higher, more expensive "company minimums" if you don't push the point.

9. Review your policies. It is common for parents to still pay for health insurance coverage on adult children long after they are working and have their own coverage. See what other unecessary coverages you may be paying for.

10. Get several quotes. For cheap insurance, compare quotes from several companies, and ask about different policy options. One more thing: take notes.

Health insurance buying tips

Dealing with small businesses

Small businesses that have difficulty finding good coverage directly from insurers, would like to contact their state department of health insurance to get knowledge about small business group health providers in their area. Another alternative for small businesses could be to join an effective association, which offers group benefits for their members. Companies need to be very careful to scrutinize the operations of such organizations to make sure that all funds are taken care appropriately.

Avoid certain policies

One needs to be careful for hospital indemnity policies and dread disease policies. Hospital indemnity pays you each day as long as you are in the hospital. Unfortunately, most do not provide sufficient policy coverage to even cover the typically daily cost of hospital stay. Dread diseases policies do cover specific illnesses but then tend to be more expensive than the likelihood of contracting one of these diseases will suggest.

Employee's options

During 2004, according to a survey only 14% of companies with fewer than 200 employees offered more one health insurance care option. However 56% of companies with 200 to 1000 employees offered multiple options, and around 76% of companies with 1000 and above. Offering more than one plan gives your employees the freedom to choose their own plan, which is best suited. There may be little additional cost to you, so it could really improve employee satisfactions and you can make sure your small business look bigger.

Understand the law

If in case you decide to create your own health care plan, you need to make sure to do enough research to understand the need you have to meet. There are many laws and regulations attached when selecting health insurance that govern health care, and many state also have their own regulations, too.

What You Need to Know About Small Business Health Insurance Quotes

As with all types of health insurance, it is highly advised to obtain several small business health insurance quotes. For the average small business owner, this process may seem a bit overwhelming. However, by utilizing the free services of online health insurance brokers, the process can be completed much more easily.

Indeed, perhaps the best place to start the process is on the Internet. Within a very short period of time, small business owners can access multiple quotes from several insurance companies, making comparison of different plans a lot easier.

Since small business group plans cover multiple individuals and families, the process for obtaining online health insurance quotes requires more information than quotes for individual plans; however, in terms of convenience and efficiency, nothing can compete with using the Internet for your small business health insurance needs.

Today, you can easily access dozens of online health insurance brokers. The broker that we highly recommend at our site has a staff of over 100 licensed agents that will work with you through the entire process � all at no cost to you.

Whether online or offline, the process of obtaining small business health insurance quotes is quite straightforward. First, you will need to provide some basic information such as your zip code, the date you want the plan to take effect, and the number of employees that require coverage, and company information such as the year in which it was created and line of business as designated by a Standard Industry Classification (SIC) code.

The next step in the process is to provide some employee information. This may vary from one site to another, but typically includes name, sex, and age, and employee dependent information.

The next step allows you to identify your plan requirements. Here you can specify deductibles, maternity benefits (or not), and add-ons such as dental and vision coverage. Of course, as you add benefits, you increase the cost of the policy.

At this point, you have essentially finished the application process and will soon be able to evaluate several small business health insurance quotes. Whether online or offline, the time period can vary, but it shouldn't take more than one or two business days for an agent to get back to you.

Once you have your small business health insurance quotes, you can begin comparing the various plans by costs, deductible, and other features. This information is necessary if you want to obtain a good understanding of your small business health insurance choices and how they may, or may not, fit in with your budget.

The 5 Basic Forms Of Life Insurance

If you're like I used to be, you can get confused with all the different life insurance policies. Trying to understand what is what can be difficult at times. Here's an easy to understand look at the 5 different types of life insurance and what they are.

Annual Renewable Term Policy

Without a doubt, this is the most typical form of life insurance sold. With its level death benefit it is generally used to satisfy any outstanding bills and debts in the unfortunate event of your passing away. This life policy is relatively inexpensive for younger people. As you get older the more expensive the policy costs. Annual renewable term life is the purest form of life insurance available.

Decreasing Term Life Policy

A decreasing term life policy decreases each year that the policy is in force. Why would you need a policy like this? It's mainly used to pay off a mortgage in the event of your death. Every other type of life insurance other than decreasing term has a level death benefit.

5-Year and 10-Year Term Life Policies

5-year, or 10-year term life policies are for people who need level protection for a set number of years only. They are generally very inexpensive and are non-renewable.

15-Year and 20, 25, and 30-Year Term Life Policies

More of these term policies combined are sold than any other type of term life insurance. You can choose the length of term life coverage you need and pay a set level premium for that number of years.

These policies work very well with families with children. For example: you have a child that is 5 years old and you want to be sure that your spouse and child are taken care of in the event of your death. Your family will need to have sufficient cash on hand to not only meet the day to day needs of life, but to also have enough for your child's education. This can be a substantial amount of money.

A 15 or 20-year term life policy would fill this need perfectly. The premiums for this type of policy are also very affordable.

Whole Life Policies

This category also includes universal life, variable universal life, and variable whole life insurance policies. These life insurance policies will cost you much more per month with their premiums, but they also help you accumulate cash over a longer period of time. You can think of these types of policies as life insurance with a savings account attached.

Premiums on whole life are set at the time you purchase the policy. Your age and health will determine the amount of your premium. As you pay your premiums you're also building cash value in your policy. Although the returns are not as high as you can get with other investments, you also have the life insurance benefit in the event of your death.

Variable life, and variable universal life policies, can give you an even higher rate of return due to their returns being based on various investments.

Blue Cross Blue Shield Health Insurance

Blue Cross Blue Shield health insurance plans can be custom made to accomplish the requirements of every person, together with individual, family and group.There are also supplementary plans for seniors to complement medical care coverage as medical care doesn't cover the whole thing and seniors have to compensate prescription medications.It is fine to be familiar with all Blue Cross Blue Shield health insurance plans cover some prescription coverage for formulary and non-formulary medications. These insurance plans also suggest alternative to buy a three-month supply at a reduction price. There are lots of different plans existing that vary in deductibles, co-pays, and out-of-pocket-expenses. Maximum lifetime benefits could also be different. There are many options rely on your plan if is a Health Maintenance Organization, Preferred Provider Organization or Point of Service plan.

Blue Cross-and Blue Shield Health Insurance Plans (BCBS) is a symbol of protection and tranquility of mind all over the United States for more than 70 years. Nowadays, BCBS is the world's largest family of health benefits companies jointly caring for 84.7 million - or above one in four Americans. If all BCBS members held hands, they may possibly circle the Earth three and one-half times.

The Blue System is a federation of 42 independent, locally operated plans combined all the way through membership in the Blue Cross and Blue Shield health insurance Association (BCBSA). The Blue Cross health insurance association and its Member Plans are devoted to bringing significant alterations and moves ahead to the U.S. health care financing and delivery system.

Blue Cross Blue Shield health insurance plans put forward health insurance coverage in all 50 states, the District of Columbia and Puerto Rico. The Blues wrap all fragment of the population, together with large employer coverage, small businesses coverage, in addition to individual health coverage for covering families with no access to group health insurance.More than 80 percent of U.S. hospitals and almost 90 percent of U.S. physicians believe Blue Cross and Blue Shield health insurance cards. More than three-quarters of Fortune 100 companies and half of all Fortune 500 companies suggest Blue Cross and Blue Shield health insurance coverage to their employees. Famous Blue corporate customers include AT&T, Boeing, United Airlines and Wal-Mart. The Blue Cross and Blue Shield Health Insurance Association national performance pilot take on 18 established evidence-based measurements. Some of the actions are amazingly simple; such as confirm that a heart attack patient be given aspirin upon arrival at the hospital, or that a pneumonia patient gets counsel on refrain from smoking.

Insurance Costs and how to reduce them

If you are thinking of cutting down your insurance costs then you will definitely have to put in some efforts. You will have to explore all the possible options and resources if you want to save money on insurance. Here are some ways of cutting costs and saving money:

1. Get as many quotes as possible from several insurance companies or agents. This will help you to decide which company will be the most economically viable for you. This is the best way to cut down the cost, because there are many companies competing with each other for your money, so take advantage of this competition to get the best insurance provider.

2. It is advisable to get your car, home or health insured from one insurance company. If you opt for different companies to meet your various insurance needs, it will prove to be very expensive. By selecting a single company, chances are that you will get special discounts along with lower premium rates.
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3. Try to avoid double coverage when you get your car or home insured. If you are living on rent, you need not get the house insured, as the property owner would cover that.

4. Before purchasing any insurance policy you are advised to assess your need for that policy. You can cut down the insurance policy cost if your needs are minimal. For instance, you can take a simple life insurance policy if you have no family dependent on you, and there are enough resources with you to take care of any personal or business debt after your death. So, choose a suitable policy, keeping an eye on your needs.

5. Look out for the various discount offers insurance companies provide. If you want a life insurance policy, you can take advantage of discounts that are given to people with good health. If you are healthy and do not smoke, you will be preferred for discounts on life insurance policies. Make use of various safety measures in your house because you may get discounts on home insurance.

6. You can cut down the cost of insurance by reducing the money that is spent in processing the insurance. For example, you can make annual payments, which will decrease the administrative costs.

7. Make use of professional discounts that are offered by various professional associations.

8. You can also cut down insurance costs by paying your bills in time and maintaining a good credit record. For example, insurance companies set the price of a home insurance policy depending on the kind of credit record their clients hold.

Remember, that when you purchase insurance policies for your automobile or home, you are making a kind of investment. This should not be considered as a waste of money and resources, since this investment will protect your other investments too. Any ill-fated event can take place in your life in an unexpected manner so be ready to face it with an insurance policy. Look around for an insurance company that not only provides a good policy, but is easy on your wallet as well.

Interesting Facts You May Not Know About Group Health Insurance Coverage

In an atmosphere of ever-growing health care and health insurance costs, group health insurance coverage is becoming critical for many employees. In fact, surveys consistently show that employees value health insurance benefits above all others.

Studies have shown that a solid majority (over 60%) of Americans receive their health insurance benefits through group health insurance coverage through their employer (or their spouse's employer). Of course, from the employee's point of view, this is the least expensive option for securing health insurance. Nevertheless, whether you are a business owner or employee, what follows is a discussion of some interesting aspects of the group health insurance market.

There are two main reasons that employers offer group health insurance coverage. The first is to attract talented employees. The second reason is related to the first: To reduce employee turnover. It's not uncommon for employees to become "dependent" on their health insurance. That is, an employee who may otherwise leave their job to become self-employed may not do so because of health reasons. That is, he or she may not be eligible under an individual policy due to a preexisting condition. Preexisting conditions are typically not covered under individual health insurance plans.

The primary difference between individual and group health insurance is that group plans are "guaranteed issue", while individual plans are not. "Guaranteed issue" means that an insurance company cannot deny coverage due to any preexisting medical conditions.

Some individual health insurance plans are issued to individuals with preexisting conditions, but usually only with what is called an "exclusionary rider." This "exclusionary rider" will exclude coverage for treatment related to the preexisting condition. It's interesting to note that in California, insurance companies are not allowed to practice this policy. As you might expect, the result is a much higher rate of declined applications for individuals, since insurance companies choose simply not to issue coverage for individuals with preexisting medical conditions.

For group health insurance coverage, premium cost sharing between employer and employee has pretty much become a common feature in today's labor market. In the vast majority of cases, insurance companies require employees to pay a minimum of 50% of the premiums, although many choose to pay a higher percentage. In general, the larger the company, the greater the percentage paid by the company. Not all insurance companies require coverage for dependents, although again many businesses elect to offer this coverage as well.

There are tax incentives available to both employer and employee for qualifying group health insurance plans. Employers can typically deduct 100% of the premium costs, while employees can pay their portion of the monthly premiums with pretax dollars. Both practices can result in significant savings over the course of a year.

Lastly, group health insurance coverage is available as either an indemnity (fee-for-service) plan or managed care plan (HMO, PPO, or POS). Indemnity plans are the oldest, as well as the most expensive, type of health insurance. As a result of their high costs, indemnity plans have all but disappeared from the landscape, and been replaced by managed health care plans.

Managed group health insurance plans come in various forms: Health Maintenance Organization (HMO), Preferred Provider Organization (PPO), or Point of Service (POS) plans. The HMO was the first alternative to traditional insurance (indemnity) and became popular for its ability to reduce costs for both employer and employee by creating networks of doctors and hospitals and thereby being able to apply cost saving measures.

The PPO plans have in recent years become the most popular type of group health insurance. PPO's (as well as POS plans) combine many of the freedoms enjoyed with indemnity plans while still being able to implement many of the cost saving features of an HMO.

The struggle to offer employees affordable group health insurance coverage is an ongoing process for most employers in today's health insurance market. Part of the process is education, from the standpoint of both the employee and employer. It's important to understand that retaining affordable and quality group health insurance is vital to both sides of the labor market � employer and employee. Indeed, when done properly, this can be a win-win situation for all concerned.