Devoted to the Insurance industry and all thing related

If you live in England and are looking for the best life or health insurance plans, coverage, and rates, one of the best resources to help you make your decision is OnlyInsurance.com. This site is a comparison website that allows you to compare insurance plans of about 87% of the insurance market. It helps you narrow down all the available choices in order for you to find the best plan for your needs.

On OnlyInsurance.com, you can compare life insurance between some of the major life insurance providers, including Standard Life, Norwich Union, Abby Life, BUPA, Provident, Aegon, and more. It also offers free life insurance articles and FAQs, as well as access to live insurance advisors via telephone.

The site’s comparison resources of health insurance is another one of its strong suits. You can evaluate health insurance from many providers and over 100 health plans, including Westfield Health, Standard Life, BUPA, BCWA, Patient Choice, and others. Again, you can access health insurance articles, FAQs, live insurance advisors, and also inquire about Dental Protection insurance plans.

Do you have children? Have you ever considered purchasing child life insurance? In the world of increasingly sophisticated and diverse insurance and financial vehicles, the Gerber Life Insurance Company is offering an excellent child life insurance plan called the Grow-Up Plan®. With this plan, Gerber Life offers affordable, industry-leading child life insurance that will help provide families with a more secure financial future.

The Grow-Up Plan is designed for children from 14 days old to 12 years old. It is a whole life policy with low premiums that builds cash value over time. Here are some of the main features of the Gerber child life plan:

• Low premiums with high coverage
• Coverage automatically doubles at age 21
• Cash value builds
• Availability of additional insurance guaranteed

You can start a child with a $5,000 - $35,000 whole life policy, which will double when the child reaches age 21, though the premium payments will remain the same. Thus, the child is essentially getting twice the coverage for the same low cost. This is a significant benefit. Also, after 20 years of consistently paying the plan premiums, you will have build up a cash value that is equal to or greater than 100% of the premiums you have paid.

If you’ve never thought of child life insurance, I suggest you strongly consider it. The Gerber Life child insurance Grow-Up Plan is one of the best available.

Sponsored Review

A recent article on Insurance News Net talked about a statewide Florida property insurance poll conducted by The Property Casualty Insurers Association of America (PCI) indicated that many Floridians are tired of the “quick fixes” and want more long-term solutions.  

According to the poll “homeowners insurance reform remains a top priority for Floridians and voters want the Legislature to revisit the changes made to the property insurance system in 2007.”  The apparent “quick fixes” applied in the past are not up to par according to the poll.  The CEO and president of PCI commented during a meeting about the poll “Any realistic long-term solution needs to include the private market.  The state and federal government can and should pay important roles, but government cannot solve the problem on its own.”

PCI has issued a list of recommendations to improve the property insurance climate in Florida, which in part include:

“Fostering a more robust catastrophe bond market; providing guaranteed low interest loans to policyholders who opt to purchase high deductible policies; providing financial assistance to low income consumers; changes in the federal tax code to allow insurers to build catastrophe reserves on a tax free basis, and the creation of a well-structured public/private partnership between insurers and the state and federal government to provide liquidity in the event of catastrophic loss.”

The former California Insurance Commissioner Chuck Quackenbush (who is now a Lee County, Fla. deputy sheriff) shot a man this past Tuesday.  The following description of the incident is from an article in the Los Angeles Times:

“Quackenbush was trying to handcuff Teodor Buda, 57, Tuesday afternoon when a scuffle ensued, said Tony Schall, spokesman for the Lee County Sheriff's Department. When Buda, who was suspected of battery and domestic violence, wrestled away Quackenbush's Taser and pointed it at him, Quackenbush shot Buda in the abdomen, Schall said.”

I had no idea that Quackenbush was now a deputy sheriff, that’s quite a cut in pay.  I guess down in Lee County Florida being a previous insurance commissioner who resigned because of corruption accusations (that turned out to be correct) makes no mind to them. 

A recent report released by the U.S. Government Accountability Office (GAO) paints a depressing financial picture for local and state government “employees, reties and poor people” in respect to health insurance.  According to a National Underwriter article about the report within the next fifteen years “GAO projections suggest that employee and retiree health coverage programs, Medicaid and other state health programs will start throwing state and local budgets out of balance.” 

The GAO calculated the astonishingly large amount of local governments (87,525) and all fifty states to come up with the numbers for total taxes and fees and grants and loans “from the federal government.” 

“The 50 state governments and 87,525 U.S. local governments collected a total of about $1.4 trillion in taxes and fees in 2006 and about $400 billion in grants, loans and loan guarantees from the federal government, GAO officials report.”

In the year 2007 I posted several hundred times on this blog while covering a wide array of topics.  With the start of the New Year I though I’d take a look back at some of the more popular posts based on visitor comments with a dash of my own personal interest in the story thrown in for good measure.  

See for yourself if any of these articles peek your interest and pass the links along to others who might benefit from them.  The comments count does not include my own comments.  Thanks for visiting my blog.


New Insurance Law Euthanizes Pit Bulls In Arkansas – 11 comments

Insurance Scam Review: Recent Insurance Fraud News – 6 comments

HealthyToys.org Offers Guide To Toxic Chemicals In Toys – 5 comments

Travel Insurance: Read The Fine Print Before Submitting A Claim - 5 comments

Mississippi Insurance Commissioner Approves 90% Rate Increase – 4 comments

 

Below are two of the most visited posts from 2007 regarding a very popular product, the iPhone.

Apple iPhone Insurance: Is The New iPhone Worth It Without Insurance Coverage? - 4 comments

Apple iPhone Insurance Revisited: Apple Warranty Only Option - 3 comments 

 

My favorite post of the year was unrelated to insurance.  I had a blast writing it and I hope you enjoy reading it.  

Golden State Warriors Topple A Giant - 2 comments

With the beginning of a brand new year the smell of steadfast resolutions is wafting through the air.  Many of us endeavor to lose ten or twenty pounds by utilizing a variety of diet and exercise routines while others have lofty financial or business goals for the New Year.  With the thought of a clean slate and fresh perspective firmly in my grasp I’ve decided to throw my hat into the ring with some important New Years insurance resolutions.

Whether you are a homeowner, single, married or living in an apartment the following ten suggestions will help you start your finances off on the right foot.

1. Pull out your life insurance policy, dust it off and look to see how much coverage you actually have.  If you have not looked at your policy in some time you may be surprised to find out actually how much coverage you do have.
2. Increase or decrease your life insurance coverage depending on recent changes (marriage, divorce, children, new home, debt etc.) to your financial situation.  You should of course speak with a trusted insurance agent that will analyze your specific situation to see if you need more or less coverage.
   
3. Learn about renters insurance if you are currently renting.  The cost is minimal and the coverage usually extends to property in your car while it is parked at home.  This small investment could protect some of your more expensive items in the home.
4. Make an appointment with your homeowners’ insurance agent to discuss your coverage.  Be prepared for the New Year by ensuring you have adequate coverage and find out about appropriate additional coverage (fire, earthquake, wind, flood and landslide insurance to name a few) for your situation.
   
5. If you are currently paying Private Mortgage Insurance (PMI) then find out when and if you can drop the coverage.  You may be unnecessarily paying PMI coverage instead of redirecting that money to a better purpose.
6. Find out the maximum annual guidelines for your Variable or Universal life insurance policy and if you are not currently maxing it out do your best to contribute more.  Every extra dollar you contribute will go towards either the sub accounts you have chosen or the separate universal life account.
7. Contact your human resources department and find out the exact amount and kinds of insurance coverage you have.  Companies vary but many offer not just life but disability as well.  Write down the coverage and keep it with your other important financial information.
8. Speak with you auto insurance representative about lowering your rates.  Compare your current premiums with other companies and see if you can receive a better deal.  That extra one hundred or more dollars saved in a year can be squirreled away for other purposes.
9. Consider purchasing Long Term Care (LTC) insurance.  This type of insurance is often considered frivolous or unnecessary but if you are not on a path towards saving enough money for retirement it could be a solid back up plan.  I highly recommend speaking with an agent that has many years of experience in the LTC market as this type of product is very different from many other personal insurance products.
   
10. Write down all of the insurance coverage you have on one piece of paper and put it in a file.  List the coverage amounts and premiums you are paying.  Make sure and update the list as you add or drop certain insurance coverage.  Let your family know where the information is so they can access it if needed.  This will come in handy for not just personal convenience but also in case the coverage is ever needed.

With a little planning, preparation and organization you can establish a firm foundation for the future. 

Happy New Year and I wish you the best for your varied resolutions.

A new website has launched devoted to testing the quantities of toxic chemicals in toys and posting the results online.  Healthy Toys is a “project of the Ecology Center” and is also supported by numerous states, state organizations and non-profit organizations.  The site lists results of tested toys by toy name, brand and type of toy.

I wrote a post in September of this year about some toy recalls and how businesses can purchase recall insurance.  Considering that Mattel Inc. (MAT) “recalled more than 21 million toys”, according to a LA Times article, I’m sure many businesses are purchasing some recall insurance or increasing their current coverage.   

With the Healthy Toys site now available consumers can have a chance to know what toys are returning negative results and in turn better protect their children.  You can also submit a toy you own for testing if it’s not currently within the Healthy Toys database.

It seems to me that our desire for cheaper products has come full circle.  The rules and regulations in other countries that produce the millions of toys consumed in the United States are turning out to be quite different.  This is an issue that is not going to go away anytime soon and will affect many other products aside from toys.

Would you rather spend more money on a toy for your child knowing that the manufacturing process for that toy was safer or spend less money but take a risk with the safety of that toy?  

The recent tragic murder of Washington Redskins safety Sean Taylor has affected many people, least of all Taylor’s family.  According to an ESPN article Taylor had a $600,000 life insurance policy that named his sister as the beneficiary.  

Taylor was not married but he did have a girlfriend and a one-year-old child.  His child will receive “a widow/children’s death benefit that pays $9,000 per month for the first 48 months, then $3,600 per month until the child is 19 years old (or 23 years old if in college).”  I’m impressed with that child benefit, it should help tremendously to raise his child.

In addition Taylor’s family will receive the following benefits:

“Dependent medical insurance through the first game of 2008 through the ‘active player policy.’ and then five further years of coverage under the ‘continuing veteran policy’; $100,000 in a health reimbursement account for dependent health care after the expiration of the ‘continued veteran’ coverage; $103,560 in a 401(k) plan.”

The second wealthiest person in the world, Warren E. Buffett was on a rather lengthy “list of 30 witnesses federal prosecutors filed today with the U.S. District Court, in New Haven, Conn. according to a National Underwriter article.  The fraud case involves General Reinsurance, which is a subsidiary of Buffett’s company Berkshire Hathaway.

This case is rather serious and involves quite a few past and current employees of Gen Re., American International Group (AIG) Merrill Lynch (MER), Bear Stearns & Co. (BSC) and Morgan Stanley.  According to the article the five defendants “are accused in a 13 count indictment of conspiracy, securities fraud, false statements to the Securities & Exchange Commission, wire fraud and mail fraud.” 

The details include “accusations that they engaged in a scheme involving bogus finite reinsurance arrangements designed to improve AIG’s financial picture to impress securities analysts and sustain its stock performance.”  

Let’s see how much press this case gets because of Buffett being called as a witness.