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Auto Insurance Does Not Mean The Same Things To People In The Financial Profession

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It is amazing how much literature has been written about the car insurance business online. The main approach in use by the bulk of the writings is in the direction of selling car insurance, rather than offer it in the proper context of insurance product or ‘a product to protect your assets and wealth.’ That is why when searching for the phrase ‘auto insurance’ a large number of websites emerge with the ‘selling’ phrases like affordable auto insurance, or cheap auto insurance or low cost auto insurance.

In the early part of 2011 and according to Google AdWords there were 8,100; 74,000; 9,900 monthly searches for the above key phrases, respectively. On the other hand, there were only 110 searches for the phrase ‘reliable auto insurance’, 170 searches for ‘quality auto insurance’, and 8,100 for ‘top auto insurance companies.’ It is rather easy to conclude that most of the searches on line are about price, not quality of insurance.

A basic principle in marketing is to understand what people ‘want’ and design and package your product or service to meet what the folks want. Looking at those numbers we can tell that most people want cheap auto insurance. As a marketer, if you design any campaign without considering that analysis you may eventually flunk the marketing tests, close your website and go do something else.

So what’s the difference between auto insurance polices? From a ‘financial planning viewpoint’ car insurance comparison should never be based on price only, and perhaps most people agree that cheap insurance is not necessarily the best car insurance. But what most people do not know is that an insurance policy with the best rated company may also be one of the most problematic contract. An auto insurance policy should be compared in reference with three factors:

1. Price: of course the cheaper the better.

2. Company Rating: Non standard companies are more flexible than their standard or preferred counterparts with regard to past violations found on the MVR activities of the drivers and the credit score of the car insurance applicants. However, non standard companies are harsher than others in customer service and paying claims. Most of complains come from non standard insurance companies. While preferred companies do not hesitate to quickly pay for smaller claims suck as seven or eight thousand dollars claim, or even little more; all companies from top to bottom will try to examine the application to see if they have to or do not have to pay a $100,000 claim.

3. Liability Limits. This is the most ignored, least understood, but is the most important aspect of the policy which affect customers during time they need the insurance. It measures how much protection you have in the event you get sued. A professional financial advisor will never ever sell you an auto insurance policy at low limits if he/she has enough information that you and your spouse have enough wealth to be sued for in the event that you or a family household member cause a major auto accident and your car insurance pays the maximum on the policy which turns out not to be enough.

There are many insurance policies sold with superior insurance companies at the lowest liability limits mandated by the state. In the State of Illinois these limits are 20/40/15, which means that in the event you cause an accident that is your fault and you get sued by others, then your company will pay to others on your behalf no more than $20,000 for bodily injury for one person, no more than $40,000 for bodily injury for all other people in the accident, and a maximum of $15,000 for any and all property damage you case in that accident. If you are a business owner and you cause a major accident resulting in a unbeaten lawsuit of $300,000 and your insurance company maxed the payment on the policy and paid $20,000, the difference of $280,000 will have to come from your own money!

Financial Planners and Auto Insurance Marketers Are Not in Harmony

Financial planners are not in harmony with insurance marketers about the weight that needs to be placed on limits of liability in auto insurance. Marketers like to stress the aspects of price and company rating, while financial planners like to stress the importance of liability limits first, then company rating second, and perhaps price at a later stage.

Although financial planners and auto insurance marketers have the common goals of maximizing their earnings while providing their services, the scope of their operations is different. Auto insurance marketers make their money by selling as many polices as they can have. The marketer does his best to make as many sales as possible, hence making small amount of money on too many policies sold. Financial planners work differently as they try to make big money from each of the few number of customers they have. Selling an auto policy is not the primary concern of a financial planner, but for him or her auto insurance is one of the fundamental subjects of the financial planning process.

Car insurance agents look at auto insurance as a way to protect the car itself in the event of theft, fire or another loss, besides the fact that it’s the law. Financial planners look at auto insurance as an integral part of their clients risk management process. To the financial planner an auto policy is not to repair the car in the event of loss, but is mainly about protecting the assets and wealth of the insured, especially against potential lawsuits.

Some auto insurance marketers would even suggest to cut down on liability insurance as a way to save money. No sound financial planner will ever make such a suggestion. No way!

When does height matter?

How high your liability limits should be is the main issue that should prevail when you buy car insurance. You probably need only the minimum liability limits mandated by the states if /when(1) you shopped for higher limits and could not afford it, (2) your current assets or wealth is not big enough to expose you to further lawsuits in the event of at fault auto accident. (3) you are a high risk driver where no one else wants to insure you except at the minimum limits. But, if you have certain amounts of assets and wealth, or is expected to have sizable assets or wealth, then you need to worry about the height of your liability limits.

What about if you are not wealthy with plenty of assets? Even for people with little or no wealth, the height of liability limits should be much of a concern to them. This is due to the fact that liability insurance contains certain coverages to pay for your bodily injuries in the event that you get hit by a vehicle that is legally uninsured, or is insured but the insurance on that vehicle was not enough to cover your bodily injuries. According to the Insurance Research Council, approximately 15% to 17% all drivers in the United States are uninsured. Coverages for Uninsured Motorist (UM) and Underinsured Motorist (UIM) vary from states to states with regard to their mandatory status and limit amounts. In Illinois UM is mandatory at the limits of $20,000 for bodily injury per person and $40,000 for bodily injury per accident. Underinsured motorists coverage is not mandatory in Illinois but insurance companies must offer it to clients for policies issued with liability over the state limits. Clients can still reject to have higher uninsured/ underinsured motorists but it must be in writing. As you can see, your liability only policy provides coverage for your bodily injuries, and making sure that you have high limits on both liability, UM and UIM can have tremendous effect on your life.

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Finance

How Hard Is It To Migrate To A Foreign Country?

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Immigration reform appears all over the news these days. In Cali, The Dream Act approved this month. The measure of this law entitles some illegal immigrants to go to state colleges for free. Whether you support this or not, it cannot be refuted that each human is better off with education of some kind.

Is it good to allow illegal students to get a better education than natural born citizens? Before you even think about that question and go into different reasons, let’s think together and weigh different view points. It is horrible what many of these folks have to endure to live here, but is it right that we do whatever they ask at our own expense?

Mexicans are not the only immigrants who come to the US illegally. Other nations have lots of problems with their boundaries, as well. Some Americans have decided to flee as illegal immigrants to other nations, as well.

Nowadays, it takes more than just determination to make it into another country and set up a home. You probably already figured that out. For beginners, you need to decide what form of transportation you will be taking. Ships could be a little easier and safer when traveling. You must have your passport to board an aircraft. You must have a United States passport to go anyplace these days. You can easily get a United States passport; it just depends on your past.

Always seek the honest way first before you try to slip into a country. Even the Dalai Lama had problems traveling from Tibet to America because he got denied the process of receiving an application for China visas. Luckily, the Dalai Lama has been able to travel with the support of Amnesty International and a few other groups that support him and his people.

One of the most troublesome lands to enter now is New Zealand. It might be because it is so beautiful or maybe because of The Lord of the Rings’ popularity, the movie having been filmed there. So even if you have made preparations and own a United States passport, New Zealand will not let you stay for too long.

Maybe you should come up with another idea, as living in a foreign country can sometimes be somewhat tricky. If you still want to travel, be sure you have all your stuff, your documents, and a place to stay.

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Don’t Stay In Jail Before You Are Convicted

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What You Need To Know About Bail

Once you are charged with a crime, you can get arrested awaiting hearing. However, the arrest does not mean that you have to spend time in jail before you are actually convicted of the crime. You can still enjoy your freedom as you await your court date and this is something that is made possible through the bail. Bail is a simple agreement between you the defendant and the court for an amount of money to serve as assurance that you will actually return to the scheduled hearing in court.

The bail amount is usually a large amount and it is refunded when you actually show up for the hearing as agreed. In case you miss the date, you forfeit the amount paid and an arrest warrant is issued against you. Those unable to pay the bail amount have no choice but to remain in jail until their scheduled day in court. Trials can take months and it can be frustrating to have to say behind bars before you are convicted simply because you are unable to post bail.

How it works

If the bail set is too high for you or your family to afford, then you may need to work with a bail bond. A bail bond is quite like a personal loan. You will be needed to put a small percentage of the total amount required and then have a bail agent or bondsman provide the remaining amount. Collateral is usually required for the remaining amount to be given and this is what works as assurance. It could be property, house, car or even high priced jewelry. A bond company can be of assistance when it comes to the bonds and they prefer working with relatives and friends of the defendant because they would know where to find the accused in case they decide to disappear.

The bond types

Bail bonds come in different types and they include surety bond which is secured by the insurance company for the financial backing needed, property bond where the defendant’s house is put down as collateral for the release awaiting appearance in court; it can be sold in case the defendant fails to show up for a court date. You may also get some immunity from jail if the judge decides your crime is low level and there is no flight risk involved.

Your criminal defense attorney can help you with securing bail or bail bond once you have been arrested. It is always a good idea to contact a criminal lawyer as soon as you are arrested so they can help you out with every stage of the process including the bail and trials. You may be in luck to get free initial consultations and later enjoy flat rates for all services that your attorney will be offering to ensure that you have the most pleasant experience dealing with the charges against you. Choose an attorney, you can trust with transparency, especially as far as the charges are concerned.

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BellSouth Reverse Look Up Phone Number

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Reverse lookup of a BellSouth phone number means you want to find out the identity of the registered owner of a phone number. Reverse lookups are needed when somehow you have a number, but have no clue about whose number it is. The reason could be one of many – maybe you are getting an anonymous prank call, maybe you just forgot whose number you have with you, or just want to track someone down. Once you know it is a BellSouth number, you can easily track down that number using a BellSouth reverse lookup phone number directory.

Reverse Lookup Directories

The reverse lookup directory is not maintained by BellSouth itself, and neither is it the service provider to the consumer. Instead, there are companies which specialize in reverse searches. They have an arrangement with BellSouth and other cell phone companies. This is a business arrangement, and BellSouth charges the reverse directory company a small fee every time it accesses BellSouth’s consumer records. In turn you too have to pay a small fee if you want to reverse look up a number.

Free Methods to trace a Phone Number

There are free methods available to look up the owner of a number. The simplest method is a free method too. Just enter the number you want looked up in a search engine, and check the results. Many people share their number on pages such as classifieds or personal websites, and search engines crawl them when they traverse the internet. If you are lucky, your search results may include one of these pages. But chances are slim that you will get the desired results because not everyone shares their information online. In which case, you can try free services like whitepages.com to find the information.

Paying for Reverse Lookup

If the free methods have failed to give you results, you may need to pay for the reverse lookup phone number services, which will do a lookup for you. As mentioned, the reverse lookup directories take a small fee for the service. The fee is about $15 for a one-time lookup, and about $40 for an annual subscription, which allows you unlimited searches for a year. The results of the lookup will be shared with you instantly, and will include the name of the owner, his/her address, and other information if it is present in the BellSouth database.

The reverse lookup directories allow you a preliminary search so that you can see that the number you are interested in is present in the database. It is advisable to use this preliminary service before you choose a directory. The directories also offer a 100% money back guarantee, which means the risks of getting a raw deal for you are pretty much zero. The offer is valid for 60 days, which is the period in which you should do your search.

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Finance

The Basics of Getting Life Insurance Over 50

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If you are over the age of 50, then you ought to know that it has become increasingly easy to invest in life insurance over 50. Life expectancy has increased and this has led to a decrease in the cost of these policies for the elderly. Though this is the case, there are a couple of things that every senior needs to keep in mind for the purpose of ensuring that the policy they settle down with is the best. Some of these factors are as highlighted below.

• Compare Policies

There are different types of policies that are specially designed for seniors within this age group. For this reason, it is advisable to take time and compare different types of polices. The most basic and important thing about carrying this out is the existence of different types of rates for polices that have varying features. If you don’t understand the some of the aspects that make one policy ideal over another, it is advisable to seek professional help in order to end up with the best possible policy.

• Determining the Right Term

When buying this type of policy, it is also advisable to consider the duration within which the policy is going to be in effect. For instance, seniors with mortgage that lasts ten years and with children who will be out of their homes and living alone should consider getting a policy that lasts ten years. However, if you are dealing with some other financial obligations, it is advisable to settle for longer policies.

• Payment Options

There are different types of payment options for individuals over the age of 50. There are companies that provide per monthly payments, yearly or quarterly payments. Yearly payment options require you pay a large amount of money at once and while this is the case, there are companies that offer significant discounts making it easy to save.

• Financial Rating of the Company

The financial rating of the company you intend to get the coverage from is also important and should not be overlooked. This is because it is important to ensure that they are in a position to the benefits in the event of your death. For this reason, make sure that the company has an ‘A’ Rating before committing yourself to use the services they have on offer.

Life insurance over 50 is important and yet, it is one of the most elusive packages. If the insurance company suspects that you pose a higher risk, the charges will also go up. For this reason, the process of applying for this type of coverage should be approached with care.

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Accidents in the Workplace – How to Protect Yourself After the Accident

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People tend to get a false sense of security that they will always be safe at work. But each year there are many people who fall victim to accidents at their workplace. Many of these accidents should never have taken place and are directly the fault of someone else’s negligence.  Most people believe that if an accident occurs at work the only legal claim they can make is within the workman’s compensation system. That is not true.

Often work site injuries occur at a construction site and are caused by a sub contractor of the general contractor or the owner of the property.  This type of accident is not limited to the workman’s compensation legal system. If a contractor other than your employer causes the accident, you can bring a claim with that contractor’s insurance company.

Even though there are a number of public agencies and regulations available to try to insure your health, accidents do happen – especially when there are people around.

It is your employer’s duty to provide as much of a risk free environment as possible, but again, even the most attentive employer, with all the risk management policies and practices available, cannot ensure your safety all the time.

If you become injured at work, first notify someone immediately and get yourself or have someone to take you to a doctor or emergency room. Be sure you know in advance where your nearest, authorized medical treatment facility is.

Once you are out of immediate danger, be sure to notify your direct supervisor, or whomever you are supposed to report to.

Whether or not you believe the accident was caused by someone’s negligence or not, it would be a good idea to speak with a personal injury lawyer. When selecting a personal injury attorney be sure it is someone who actually specializes in person injury cases. Some attorneys try to be all things to all people – remember the old saying, “jack of all trades, master of none.” Personal injury is a highly specialized field, and your case deserves to be handled by a lawyer with the right experience.  The personal injury attorney’s reputation  and credibility within the legal community and within the insurance community is very important to obtaining a fair and satisfactory settlement of your claim.

Once you have found a competent personal injury attorney, tell the attorney everything that happened to you and he or she will tell you whether or not they believe you have a justifiable case or not, and how to proceed with your personal injury claim.

It is important that you speak with an attorney before you speak with any counsel representing your employer, so that your attorney can  give you the proper advice to help you to know what to say and to avoid saying something that could jeopardize your case.

You should understand that if you were the victim of an accident at work, you may be entitled to compensation. There are laws to protect you and you have every right to pursue a claim if you have been physically or emotionally injured in the workplace. 

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Budget Car Insurance – How to Save Some Money

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Before you proceed to obtain car insurance, you may need to consider how much you have on car insurance budget. In the present economic meltdown, I am sure you will not mind saving a couple of dollars on car insurance.

The first place to really start is getting quotes from all the insurance companies in your area. The quotes can be compared to find out which insurance company really charges the lowest. This is where people get pissed off thinking how stressful it will be to call up every insurance company in their area. Well, you do not have to do all that anymore. Right in the comfort of your room, using the internet, you can call up car insurance quotes for all the companies in your area within minutes.

This will really help you in making budgets for your car insurance. You really do not just have to settle for any quote, you will only settle for the cheapest quote and most interestingly, you may be surprised that the difference between the quotes may be as high as $800 to $1000.

Are you getting excited? Wait a bit, you can still lessen the quotes you get from an insurance company much more by putting some things in place.

1. Keep your driving history clean: If you keep your driving history clean, you are telling the insurance company that you are less likely to be involved in any kind of auto crash and the reward is a lower quote, much lower than someone who doesn’t have a clean driving history.

2. Don’t drive cars that are too expensive: Expensive cars are expensive to repair when damaged and much more expensive to replace when stolen. This is why insurance companies will not give lower quotes on expensive cars. The only way to avoid getting hooked is finding out how much insurance is paid on the cars of your choice before purchasing such cars.

By the time you get all the above in place, I am sure you would have cut low on your budget for car insurance, much more than you would ever imagine. If you are ready, all you need is your zip code and the most competitive quotes will be displayed on your screen.

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