Tips for Easy Processing of Life Insurance Claims

A lot of people are investing in life insurance policies, so that it can help their loved ones financially in case of their death. Life insurance companies can easily collect their payments from you but claiming the insurance benefits can be hard if you do not have the necessary documents at hand. There are a lot of processes that the beneficiary has to go through before the claims can be received. Filing these paper documents is not easy if you do not know what to do.

There are also a lot of people who are processing their claims and insurance companies have to face all of these people's concerns. The amount of life insurance claims that will be received would also depend on the type of insurance that covers the beneficiary and the event that lead to these claims. In order for you to claim you benefits fast and easy, you will have to bear in mind these important reminders.

As the beneficiary, you should have the original documents related to the insurance policy. Make sure that you also have copies of those, in case they will be needed. Make sure that you have all the documents needed before processing the claims. This would also include your identification as the beneficiary who has the right to claim the benefits.

It is important that you get in contact with the insurance agent from whom the insurance policy was purchased. He or she will be able to give you the details and steps that you have to perform regarding claiming the benefits.

As the beneficiary, you should also be familiar with the insurance policy that you will be getting the claims. This information can be read in the policy documents and if you have questions you can also contact the insurance agent.

Consider also the length of time that you have to claim the benefit. There might be an unlimited time some insurance companies transfer the benefit to the state. This means that the process of claiming the benefit will be complicated. So better claim the benefit as soon as you have the documents needed such as a death certificate.

There are also different ways on how the money can reach you. You can either get it at lump sum or by installment. You can receive the claim after seven (7) days when the beneficiary has finished processing all the requirements.

Do not worry if you do not see any taxes taken from the amount you received. There would only be a tax of 55% in the excess of $1 million claim received.

Filing your claim can be hard and stressful at times, so make sure that you have copies of all documents needed. Make sure that you also know your insurance agent and the insurance company of the policy you purchased.

Check www.lifeinsurancequotes-online.org for available insurance that may fit your needs. It is also better if the beneficiaries have access to this information so that they can easily process the claims in cases such as death or accidents. Click here to get more information about life insurance claims.

Article Source: http://EzineArticles.com/?expert=Julius_Daviz_Galvez

Essential Details To Remember When Applying For Any Insurance Policy

If you care for your loved ones, then you should secure their future. This means anticipating contingencies and being prepared for them. One of the best ways you can do this is by securing the right coverage, especially in case of accidents. That's why it is highly encouraged to apply for the proper life, accident, and health insurance policies. This is especially true if you are the sole breadwinner of the family. You have to make sure that your kids will still have a bright future, no matter what happens. So how do you know what kind of insurance policy is right for you?

There are still lots of people who are skeptical about getting a proper coverage. There are many who are still without a decent policy, whether it is on their lives, health, or even on the vehicles they own. However, in these modern times, we have to realize that risks are growing each day as well. The more sophisticated society gets, the more risks we have to face. Hence, we have to make sure that the coverage we get will be able to answer to such risks. So the very first tip you apply for a policy is to assess the nature of the risks it covers.

For example, if the nature of your work is inherently hazardous, then you should take out an appropriate life insurance policy. Added to this, you should also have your health and accident coverage. If your job requires you to travel often, then secure travel insurance as well, unless your accident insurance gives more or less similar coverage. Next, check out the premiums that you have to pay. You have to expect that these policies will cost you. However, there are so many insurance companies out there that you can choose from.

Spend enough time assessing the various products of these companies and compare them. Go for the one that can give you the most comprehensive coverage at the price you can afford. Just be careful to properly understand the terms and conditions before signing anything. That brings us to our third tip which is to consult with an expert. Since we are not experts on this field, it's normal for us to entertain doubts. In order to clear up those doubts and secure the most suitable coverage, it's best to seek professional assistance. Consult with an experienced and reliable agent regarding your needs. That way, you will pay for the kind of coverage you want and deserve.

You can learn more about PPI and other forms of insurance by looking up online resources and reviews.

Article Source: http://EzineArticles.com/?expert=Merle_Bastilla

The Nature Of Risk And Life Insurance

Everyone knows that we get insurance to cover potential risks. Insurance premiums will of course be directly proportional to the level of risk that their attached policies are covering. This article explores the curious relationship between risk and insurance prices.

Different insurance products may have different interpretations of how risky certain things are. You would expect an eighty year old to pay lower car insurance premiums than a twenty one year old but, the same twenty one year old will come up on top every time when it comes to life insurance. It can therefore be said that different insurance products will have their own interpretations of risk

I'm going to take a risk of sounding patronising: do we really know what risk is? When you take a second or two to think, this question is actually far more expansive than it seems. Risk is actually derived from the Italian word 'rischio' meaning a source of peril.

Taking a look at my Oxford English Dictionary I get no fewer than six distinct meanings. When accounting for the life insurance industry jargon we get a seventh meaning referring to 'the risk' which in this context means whoever is being insured rather than an event that might cause loss or damage.

As a life insurance specialist two key element of what risk is have emerged to me, there must be an element of uncertainty, and there must be a potential for loss.

This is, however, seemingly too simplistic for the insurance industry to use. When calculating life insurance policy costs we also need to encompass a third ingredient which is a measurement that allows risk to be distinguished from uncertainty.

The probabilities of certain events happening, such as death or injury need to be calculated. This process involves using complex financial models based on past statistical data. While pricing factors such as age and sex are beyond your control there are some steps that can be taken to save some money. Smokers will always get a lousy deal when it comes to life insurance, so quitting can save you a packet. Insurance firms will class you as a smoker if you have consumed a cigarette in the last twelve months. If you're classed as overweight you'll also take a hit to the pocket. So cutting down on those excess pounds is a great idea.

Hopefully I have demonstrated how insurance and risk are intertwined and in order to understand the price of life insurance we must first define just what risk is.

Bryan Collins is a life cover specialist, specializing in Endowment Mortgage Insurance and Endowment Insurance

Article Source: http://EzineArticles.com/?expert=Bryan_I_Collins

The Importance of Life Insurance for Women

It is a common sight these days that most women are breadwinners of their families. In the past, women rarely get insurance because they do not know their financial value nor are they paid for doing jobs at home. Nowadays, insurance companies are encouraging women to buy insurance in order for them to secure not only their own life but also of their family members as well.

There are different kinds of life insurance for women. Each kind has its own advantages and you can choose which one is suitable for your needs. Some of these insurance policies which are commonly purchased by both men and women are term life policy and whole life policy. Here are some thoughts for you to ponder on why you should buy an insurance policy.

Women play a huge role in the society. Not only do they help mold the children to become productive members of the society but they also perform their household duties without asking for something in return. A mother's yearly salary is estimated to be $115,000. Many do not know about this, but a mother's job includes being a CEO, a tutor, driver, chef, and a whole lot more. Imagine the loss that the family will experience without a mother to perform all of these jobs. Definitely a mother is someone who is very important and it is strongly encouraged that her life should be covered by insurance.

There are women who are the breadwinners of their families. Purchasing insurance is one way of preparing for whatever accident that may happen in the future. In case of death of the breadwinner, the family is surely to suffer from financial difficulties. An insurance policy would somehow cover the financial loss for a certain period of time depending on the insurance cover chosen by the one paying for it.

There is no assurance that you will always have what you are experiencing currently. There have been a lot of uncertainties when it comes to the current economy as well. In cases where you get an accident or lose a job, the insurance can help you financially while you are in a crisis.

For women who live alone or have no relatives to turn to when they die, they can purchase a death insurance policy. The insurance company will cover burial expenses and other expenses that are left unpaid such as hospital bills and home utilities.

There are different insurance quotes for women. The earlier you purchase an insurance policy, the longer time you have to pay for it. This means that you only have to pay for lower amount each month for a number of years. There are also different factors that determine the insurance quotes for women. Some factors that are taken into consideration include age, annual salary and health condition, whether you have any vices such as drinking and smoking.

It would be best to purchase an insurance policy of your choice while you are still younger. For more detailed information about life insurance for women, you can visit this website. Learn and know more about the different types of insurance available at www.lifeinsurancequotes-online.org. Secure your life and your family as well by getting insurance.

Article Source: http://EzineArticles.com/?expert=Julius_Daviz_Galvez

Term Insurance: Ensuring a Safe Future

With the increasing risks, people want to safeguard their future, as well as the future of their near and dear one's. There are different companies who provide various types of offers to the people. There are insurances like life insurance, car insurance, child insurance etc. Term Insurance is one such insurance which is quite effective now-a-days. Some insurance is a life long. But in case of Term Insurance it covers a certain period of time.

This policy is a particular genre of policy over a certain range of time. The time period may be 5, 10, 15, 20 years or more. These are known as "level term" policies. If the specified time period is over the premium rates might not be valid anymore. The client must use some different modes of payment conditions. If the person expired within the stipulated time then the beneficiary will undoubtedly get the death benefit. A classic example is that if insurance is for a one year term, then if the person dies within the year the beneficiary can avail the full death benefit. If the person dies after one year, then the death benefit cannot be availed. There is absolute zero cash value in case of term policy.

There are many advantages of a term insurance policy. There is no cash value in case of Term policy. The term policy is less expensive compared to the permanent Life Insurances that exist in the market. Term Insurance is quite useful for people who have dependents to care about. As the premium is quite low so people can invest in other fields too. Term policy provides tax breaks. After the death of the person, the amount will act as an asset to the family. The people can easily pay the premiums even during career breaks. Term insurance plans are quite helpful both for single income as well as double income families too. In case of double income families, it helps to meet the investment goals, and in case of single income families, it helps the earning member to support the previous, as well as the next generation. As income rises every year, so it becomes quite easy to pay the premiums. Still there are certain disadvantages too. If the person believes that the defendant might not take care of the needs of the family after the death, then this policy becomes useless.

Different agents of different companies are available. We can buy the policies from them. But as the commission is quite less, so the agents are not keen to sell the policies to the people. Information regarding Term Insurance policies can be obtained from the internet. The companies provide many lucrative death beneficiary schemes. Furthermore, this may be beneficial to think about several simple items regarding recommendations coming from different organizations offering identical or perhaps related term plans.

Term life is undoubtedly a straightforward insurance coverage choice that's appropriate if you're seeking to guarantee your lifetime from minimal price associated with premium rates.

Article Source: http://EzineArticles.com/?expert=Dnesh_Khandelwal

Life Insurance Coverage and It's Advantages

Life Insurance has become one of the necessities for a person who wishes to give his family a safe and secure life even after their soul rests in peace. The insurance policy is a commitment made by an insurance company to pay to its nominee a specific amount if the policy purchaser dies during the term of the policy. You make sure that your family is left with a lump sum of money for financial protection.

To satisfy the actual needs of individuals from various walks of life you'll find distinct life insurance plans.

Term Insurance is with extremely low premium rates. This plan comes with a limited period which means this policy can be used only for a nominal period and after the maturity times you lose eligibility for any profits or allowances. In case if an insurance holder dies during the coverage period, the nominee gets a specific lump sum amount. This policy can be taken for 5, 10, 15, 20 0r 30 years.

Endowment Insurance Plans are for best saving plans which provide a specific amount at the end of specific term or maybe with the demise of the insurance holder. Even after the end of the plans the client will get supplementary advantages such as bonuses and profits. Usually this plan is available for 10, 15 and 20 years or up to a certain age limit.

Pension Plans are for you if you desire to lead a happy and respectful retirement life, a decent pension plan is a must. Pension plans help to provide better retirement days by securing amount while you are earning. Here, the policyholder can pay any large total sum or premiums for certain years to acquire an annuity throughout old age.

"With Money-Back Plan" you can enjoy insurance coverage along with savings. "In this policy all through the term" you are benefited along with fair dividends along with the final lump sum return.

The eligibility to apply for the life insurance policy is to attend the age of maturity. They can make a valid contract with any of the insurance providing company and can protect those with whom they have an insurable interest. One can also take policies on the life of one's spouse or children, on certain terms and conditions. Policyholder's state of health, the supporter's income and other significant aspects are being checked by the insurer before any approval. For working women who earn an income can also apply for the policy with the above conditions. In other cases, there is an obstruction clause that only female up to the age of 30 years, and if she does not have an income attracting Income Tax can apply for life insurance policies.

While taking a policy, you should ensure that you go through all the terms and conditions carefully, and all questions in the application form are correctly filled. Any parody, non-disclosure or deception in any document may lead to risk and your policy could be considered null and void.

There are several life insurance companies in the market, getting the right insurance policy at the right time is extremely critical. A comparison between different life insurance products and getting a quote, all at one place would be of significant help.

Article Source: http://EzineArticles.com/?expert=Dnesh_Khandelwal

Americans With Pre-Existing Health Conditions Don't Have Life Insurance

According to a new report from Genworth Financial, a large number of Americans with common, pre-existing conditions don't have life insurance. It is believed that the lack of insurance coverage is due to an inaccurate belief that because of their health issues insurance would be expensive, as well as their doubts over their insurability.

The study found that between 39% and 54% of Americans between the ages of 18 and 64 with common, self-reported pre-existing conditions hold no life insurance.

Some of the common and pre-existing health conditions that the respondents reported to be suffering from included, anxiety, asthma, depression, high cholesterol, hypertension, sleep apnea and weight issues.

In addition, over 118 million adults in the U.S. age 18 and above don't have life insurance coverage, which more than half the adult population (52%).

While many Americans are concerned that their health issues will drive up the cost of life insurance and make it unaffordable, this is not the case.

"We need to redefine the word 'healthy' in the context of insurance eligibility," says Janet Deskins, Genworth senior vice president for product development. "For adults with conditions such as anxiety, asthma, depression, high cholesterol and sleep apnea, life insurance can still be an affordable part of their overall financial plan, especially if they are actively taking steps to manage their condition."

The Genworth study also revealed that:

2012: Entire U.S. Adult Population 18+ (226 million)

    52% are uninsured; approximately 118 Million
    For those with Insurance, $152K is the average coverage amount

2011: Entire U.S. Adult Population 18+ (223 million)

    51% are uninsured; approximately 114 million
    For those with insurance, $155K is the average coverage amount

Within each of the populations identifying with the health conditions below*, a sizable portion is uninsured:

    Anxiety: 15 million total, 8 million (53%) with no insurance
    Asthma: 13 million total, 7 million (54%) with no insurance
    Depression: 17 million total, 9 million (53%) with no insurance
    High cholesterol: 26 million total, 10 million (39%) with no insurance
    Hypertension: 25 million total, 10 million (40%) with no insurance
    Overweight: 24 million total, 11 million (44%) with no insurance
    Sleep apnea: 12 million total, 5 million (42%) with no insurance

Be sure you take steps in getting yourself covered to ensure you are protected and have a financial plan for your future. Take our insurance quiz below to find out how much you know.

*Mid-point averages were used in coverage amount calculations.

Take our life insurance quiz and see how prepared you are at https://www.naalife.com/life-insurance-quiz.php.

Article Source: http://EzineArticles.com/?expert=Greg_Brunick

Step By Step Guide On How To Obtain Life Insurance

One of the primary motives why people acquire a insurance policy is the assurance that their dependents will get a prearranged sum of money in the event of their death. Getting a policy is crucial especially if you are the main source of income in your household or family. Apparently, the demise of the breadwinner signifies the loss of income for the family. As they say, life insurance is something that you need to obtain, but hopefully never have to use.

Guide on how to purchase a life insurance:

1. Determine the kind of policy that suits your needs

Term and whole life plan are the common types of policies that you will encounter as you begin shopping for a policy. Term life insurance expires for a definite period of time, such as 10 or 20 years. Conversely, whole life plan covers the policy holder until death. Your choice of policy should be hinge on your personal needs. You may prefer whole life plan or merely need a life plan for 20 to 30 years while rearing children.

2. Search out for free life insurance quotes

Internet has helped buyers get free online quotes without difficulty, but it is still advisable that you seek for the opinion of proficient insurance agents in your community. They can help you understand life plan even more, present you a wide range of options and provide you answer to your queries about certain policies that you cannot access from online quotes. Moreover, try to check with your human resources department at your job to recognize the life insurance options offered there.

3. Fill out the application form

Once you have made up your mind on which policy or insurer you want to choose, you can now start applying for a life plan. This necessitates a preliminary application that will also include few questions concerning your present and past health condition. Insurers make use of the information supplied on the form to help them in creating a policy.

4. Go through a medical exam

Most reputable insurers compel applicants to undergo a medical exam completed before they approve your application. Normally, this test should be paid by the insurance company, which utilizes it to confirm the information on your health history.

5. Understand the premium and coverage before buying it

After taking you medical exam, the insurer will design a policy for you that stipulate your coverage and indicates how much premium will be charged to you. You should get through the policy documents right before you sign it to verify if it suits your needs at a price you can afford.

6. Sign the policy and pay the premium

Lastly, sign the policy papers to obtain insurance coverage and pay the premium. Once you have completed these steps, you already have a life plan that will protect your dependents in case you die.

Mei Mayore is a dedicated life insurance agent who is keen to provide people fast and risk free life insurance quotes. Learn more things on how to achieve maximum savings and claim strategies by visiting Life Insurance Quotes Canada.

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Comparing Different Types Of Life Insurance: Whole Life Versus Term

No matter how well you manage your activities throughout your professional adult life and ensure that you and your family observe proper health practices to maintain youth and vitality, you can never completely avoid the risks of unfortunate incidents that can change your circumstances in an instant. You may be relatively young and make it a point to observe a healthy diet and get enough exercise to stay in your peak physical condition, but this would not be enough to guarantee a long, problem-free life; illnesses can still develop and accidents can happen when you least expect it.

Aside from keeping yourself physically healthy and vibrant in the hopes of living as many years as you possibly can with your loved ones beside you, preparing for the future security of your family should also include the task of properly setting up your finances. The most common and secure way to accomplish this is to purchase life insurance. Whole life insurance and term life insurance are two of the more popular options for securing your family's finances after you have passed away; it's best to know the difference between the two before making your selection so you can sign up for a policy that best fits your specific financial goals and needs.

Whole life insurance is a policy that, as the name suggests, remains effective throughout the insured's whole life. Life insurance plans under this category have fixed premiums that are typically much higher than those required by term life insurance policies. Whole life insurance has a cash value-something that is not present in term life insurance. Having a cash value means that it can be used to accumulate tax-deferred savings. In addition, whole life policies can also be a tool that can help you preserve the wealth that you plan to leave behind for your family or specific beneficiaries.

Term life plan, on the other hand, is generally a more affordable policy compared to whole life. It can protect your finances for about 10 or 20 years (the typical period options for this plan). After the indicated period, you can choose to continue receiving financial coverage, but the premiums will be significantly increased. The money your family will receive from your term life plan can be used to continue paying general expenses after your death (such as a mortgage or your children's education). The funds can serve as your beneficiaries' financial solution to the years of potential income that you have lost with the event of your death.

Before taking out an insurance policy, it is recommended that you do sufficient research on the type of coverage that would provide your family with the best benefits. It is also important to gather enough information about a few of your preferred insurance providers before deciding on signing a contract with a single one. You can arrange for a meeting with an agent who can thoroughly explain their policies; you can also request a whole life insurance online quote so you can get a clearer picture of how much the coverage will cost. Making secure financial arrangements is the best way to safeguard your family's financial future no matter what events take place.

It is important to secure the future of your family by having a life insurance. This can help you secure your finances at whatever events that may happen. Choose the life insurance that will suit your funds and your plans, get it from a renowned company that will surely provide you the best coverage for your family.

Article Source: http://EzineArticles.com/?expert=Tyrone_I_Fedler

Understand The Suicide Clause In A Life Insurance Policy

A policy holder who feels like he is down in the dumps would be tempted to take his own life only to leave his loved ones a considerable amount of money from a life insurance policy. Suicide of a family member is one of the most disheartening situations any family can encounter. This incident could also complicate the process of claiming the life insurance benefits. But the question whether an insurance company will grant the insurance benefits to the recipients will be hinge on clauses in the policy. There are instances when a policy's suicide clause holds back the redemption of the benefits. Sometimes the policy holder does not easily recognize this clause concerning suicide because some policies use languages like "intentional self-destruction" or "death by one's own hand" to describe the act.

Forms

A suicide clause is just one of the clauses or stipulations that you can find most life insurance policies, while the stipulations may also differ to some extent depending on the state or country. Some insurers include a free look provision that offers the policy owner a considerable period of time to review a policy after it was issued to for the buyer to decide whether he wants to purchase the policy. Incontestability clause prevents the policyholder from annulling the policy after it takes in effect for a definite period of time, except if the policyholder cease from paying the premium.

Purpose

A suicide clause states that policy benefits will not be granted to policyholder's beneficiaries if he ends his own life within a specific term following the inception of the policy. In circumstances a policyholder passes away within that period covered by the suicide clause, the insurer usually investigate the claim strictly to guarantee that the demise of the policy holder was not a case of suicide.

Benefits

A suicide clause guards an insurer against a circumstance where a policy holder commits suicide with the objective to give his recipients a considerable sum of money from life insurance claims. Considering the fact that contemporary life insurance policies can easily build up a face value of $100,000 or more, the clause can protect the insurer from disbursing such a significant amount of money.

Insurers are not the only one who benefit from suicide clause, even the desperate and emotionally distressed policy holders gains from this clause. For example, if a desperate policy holder learns that their beneficiaries might not get any benefits from their insurance plan if they commit suicide, the person may reconsider his attempt to commit suicide.

Time Frame

A suicide clause usually covers the first two years that the life plan has been in effect. In case the suicide transpired within that period, the insurer will just hand back to the policyholder's recipients any premiums that have been given to that point. If suicide happened subsequent to the clause period, the life insurance company cannot refuse coverage.

Mei Mayore is a dedicated life insurance agent who is keen to provide people fast and risk free life insurance quotes. Learn more things on how to achieve maximum savings and claim strategies by visiting Life Insurance Quotes Canada.

Article Source: http://EzineArticles.com/?expert=Mei_Mayore



A policy holder who feels like he is down in the dumps would be tempted to take his own life only to leave his loved ones a considerable amount of money from a life insurance policy. Suicide of a family member is one of the most disheartening situations any family can encounter. This incident could also complicate the process of claiming the life insurance benefits. But the question whether an insurance company will grant the insurance benefits to the recipients will be hinge on clauses in the policy. There are instances when a policy's suicide clause holds back the redemption of the benefits. Sometimes the policy holder does not easily recognize this clause concerning suicide because some policies use languages like "intentional self-destruction" or "death by one's own hand" to describe the act.

Forms

A suicide clause is just one of the clauses or stipulations that you can find most life insurance policies, while the stipulations may also differ to some extent depending on the state or country. Some insurers include a free look provision that offers the policy owner a considerable period of time to review a policy after it was issued to for the buyer to decide whether he wants to purchase the policy. Incontestability clause prevents the policyholder from annulling the policy after it takes in effect for a definite period of time, except if the policyholder cease from paying the premium.

Purpose

A suicide clause states that policy benefits will not be granted to policyholder's beneficiaries if he ends his own life within a specific term following the inception of the policy. In circumstances a policyholder passes away within that period covered by the suicide clause, the insurer usually investigate the claim strictly to guarantee that the demise of the policy holder was not a case of suicide.

Benefits

A suicide clause guards an insurer against a circumstance where a policy holder commits suicide with the objective to give his recipients a considerable sum of money from life insurance claims. Considering the fact that contemporary life insurance policies can easily build up a face value of $100,000 or more, the clause can protect the insurer from disbursing such a significant amount of money.

Insurers are not the only one who benefit from suicide clause, even the desperate and emotionally distressed policy holders gains from this clause. For example, if a desperate policy holder learns that their beneficiaries might not get any benefits from their insurance plan if they commit suicide, the person may reconsider his attempt to commit suicide.

Time Frame

A suicide clause usually covers the first two years that the life plan has been in effect. In case the suicide transpired within that period, the insurer will just hand back to the policyholder's recipients any premiums that have been given to that point. If suicide happened subsequent to the clause period, the life insurance company cannot refuse coverage.

Mei Mayore is a dedicated life insurance agent who is keen to provide people fast and risk free life insurance quotes. Learn more things on how to achieve maximum savings and claim strategies by visiting Life Insurance Quotes Canada.

Article Source: http://EzineArticles.com/?expert=Mei_Mayore

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