Apps For PC Turkish-English dictionary

This software will hepl you to solve some unpredictable thing in your PC, have main function like Turkish-English dictionary

Software official website : http://www.freewarepocketpc.net/get-turkish-english-dictionary.html
Software Download link: Click here to download
Submitted by : Mendez Moyer
Contact : Send submitter email
Website: http://freewaregroup.com/

Cheapest Freeware Vspainter LE

Basically this software have main function like advanced drawing tools using the last technologies of your portable windows mobile equipped with a stylus !

I forgoten to copy paste reviwew from the software founder : Made by: Virtual Spaghetti

Vspainter has advanced drawing tools using the last technologies of your portable windows mobile equipped with a stylet. Draw, modify, and publish your creations easily using many creation tools. A good complement tool for your professional PC/Mac desktop software.

Vspainter is also able to create, store and view simultaneous creations.

* New Screen Distorsion – Manipulate your picture.
* Axis Tools – Duplicate quickly with the symetric X/Y tool or flip the screen in horizontal and vertical.
* Stamp Tools – Clone a part on the current page or in a other work pages.
* Colors Tools – Select or Manipulate colors.
* Multi pages workspace – Switch quickly between your creations.
* Finger Tools – Realistic and very usefull tools.
* Load and Save and manipulate your creation in JPEG Format.
* Zoom Windows – Create detailed artworks Zoom by 2x, 4x or 8x.
* Advanced Drawing tools – Use the advantage of the stylet. Draw anytime, anywhere.
* Full Screen Mode and Historical Undo.
* Devices Compatibilities – Windows Mobile 5.0 / 6.0, Phone Edition and Squared Screen Support.
* Advanced brush Tools – Draw using many different brush including Line, Circle anq square.
* Special Effect Brush Tools – Use special Brush Effect ( lightning, cloud, etc )
* and many others features.


The program groups applications in the Start menu by categories, making them easy to access. Also, you can access menu items more quickly because you will only need to click the folder with the name of a program to run it.


Software Official Website : http://www.freewarepocketpc.net/get-vspainter-le-v1-7.html
Software Download link: Click here to download
Submitted by : Reese Goodman
Contact : Send submitter email
Website: http://freewaregroup.com/

6 Tips on How to Shop for the Cheapest Travel Insurance

While you spend most of your travel budget on plane tickets, hotel accommodation, restaurant bills, car rentals, and souvenirs you can bring home, you should not disregard the importance of your own protection. This is the reason why you need to buy travel insurance.
But the common misconception that travel insurance is expensive and that you are more likely to survive the trip in one piece has caused much disregard on buying insurance. Because in as much as you would want your trip to be a little under your targeted total expenses, you will completely neglect buying travel insurance. And when you do this, you might be at risk of spending more because you will never know when accidents may strike prior and especially during the trip. That is why, you should allocate a portion of your travel budget to travel insurance.

Now you may ask, "If I have to spend so much on other things, how can I get cheap travel insurance that would not cost too much?"
Shopping for cheap travel insurance can indeed affect your whole budget for the trip but with these 6 following tips, you can have the cheapest travel insurance that covers everything you need.

1. As much as possible, do not buy from travel agents. While they may provide the fastest and easiest way to get you covered, they can offer high insurance cost since they earn commission. They also may not give you discounts and could dictate the coverage of the insurance. In addition, some travel companies offer trips with "free" insurance- but actually not free. The cost of the insurance is included in the total price.
2. Instead, buy cheap travel insurance directly from insurance brokers or insurance companies. They often charge insurance at half the price compared to travel agents and could offer the cheapest travel insurance.
3. Check on several cheap travel insurance companies and select one that you think can give you the best coverage. Select your coverage, consider your destination, duration, type of activities you will perform during the trip, and the probable risk. From these, you can decide if you will get emergency medical expenses, emergency evacuation, personal property coverage (lost, delayed, or damage luggage), document coverage, trip cancellation, and others.
For example, if you go to a place where you will spend most of your time doing outdoor activities, which you think would give you better chances of encountering accidents, you can get emergency medical expenses coverage. Or, if you go to a place where there is a risk of the trip being cancelled because of local crisis, you might opt to get trip cancellation or travel interruption coverage. Furthermore, if you are not sure about the status of your air provider, you can opt to buy for bankruptcy protection. The key is, you should know how to prioritise your need according to your situation.
4. If you go on trips more than once a year, it is advisable to get annual travel insurance. You can save more on this than buying travel insurance on every trip.
5. If you have home insurance, you should first check if they have any provisions for out of the country trips. In this way, you can get the "avoid redundancy" and get the cheapest travel insurance possible.
6. Finally, never hesitate to ask for discounts. There are several insurance companies who are willing to slash a portion of their travel insurance price.
All these tips can help you get the cheapest travel insurance possible. Happy shopping!

What Is Travel Insurance?

Travel insurance is almost a necessity for anyone who does a lot of traveling. Even though it can be great for infrequent travelers (depending on where you're going), it really shines for the road warriors.

So what is the definition of travel insurance, exactly? Basically it's a way to make sure that if you pay for a bunch of things related to travel (such as a plane ticket, baggage fees, etc.) and then for some reason you have to cancel, your insurance will refund you part of the money you lost.


To be honest though, that's just one type of insurance you can purchase. That one I just discussed is called trip cancellation and interruption insurance. You can also purchase other kinds such as flight insurance (which tends to not be worth the high cost).

Another form of travel insurance is travel health insurance. This really shines if you are traveling overseas. In the case of some kind of accident while you're in another country, this insurance will help take care of the medical bills you incur in that country.

Yet another type of insurance is baggage insurance. Taking lots of expensive things (such as nice suits or dresses) in your baggage? Then this can be a great choice. But if you don't have anything too expensive in your bag (keep jewelry on you during the flight), then baggage insurance usually isn't necessary.

With so many types of insurance to choose from, it can be confusing to decide which one you should take (if any of them), and how much coverage you should get.

The best way to make this decision is to weigh up the positives and negatives of the policy. To make things easier, we'll discuss all types of travel insurance rolled into one, rather than evaluating each type of policy.

One of the main disadvantages of this form of insurance is the cost. Like most policies, you will probably never have to use this insurance, so why pay for it? After all that's like paying to get your car repaired without it actually getting repaired, right?

Depending on how much you fly, these costs can add up fast. Just like auto insurance goes up the more you drive, travel insurance can increase the more you fly. They have to do this to cover your increased risk of having a trip get canceled or having a medical issue at your destination.

Another factor to consider is just the stress. Is it really worth sifting through all these insurance policies and plans to decide which one is best for you? If you stress out about little things easily, then you may want to try a different path. Nobody likes dealing with insurance companies, and adding more stress to your life isn't a good thing.

Plus we all know that salespeople can be a little scammy sometimes. They might push you to have this expensive, premium policy that you really don't need! Watch out for this if someone is pushing you to get baggage insurance and it's REALLY obvious that your bag isn't worth nearly as much as he's pushing you to believe!

That said, there are a lot of reasons why travel insurance can be a good thing. Again, those who travel often will benefit the most from these policies, but other people can definitely benefit as well.

For one thing, insurance actually helps a lot of people sleep better at night. They know that since they're insured, they don't have to worry about losing a bunch of money on their travel plans. Whether a snow storm cancels the flight, they get sick while on that business trip to China, or their baggage with $500 suits gets lost somewhere- they know they're covered.

Another example of the advantage is that in the long run, the finances might work out better for you. Although usually we end up paying much more for insurance than we'll ever need, you'll be glad you have it when that hospital bill overseas is $5,000 and your insurance can pay 95% of it!

Finally, some people don't get too stressed out when going through different policies. They might even find it interesting and exhilarating to get the best deal on the market by shopping around from policy to policy!

Is travel insurance for everyone? No, not really. Many people don't like the extra hassle, and just don't think the benefits are that great. But if you're considering getting travel insurance for an overseas trip or long string of trips- do it!

Travel And Holiday Insurance

Why in the world would anyone need travel insurance? There are a number of reasons why you might want to purchase this type of insurance, especially if you travel frequently. Let's say you're traveling half way across the country and you lose your luggage. No one can seem to find it, and it doesn't look like you're ever going to get it back. What if you had $10,000 worth of precious jewelry in your luggage?
This is exactly the type of reason why you would want travel insurance. Because you just never know when something valuable of yours could get lost or stolen while you are on vacation. Travel insurance provides you with a means to get those items back. Well, you might not get the items back, but at least you would be reimbursed for the value of your possessions.

Travel insurance covers a number of different things that are associated with vacationing, every day business trips, or other travel reasons. One thing that is covered, which we previously discussed, is personal belongings such as luggage.
Another coverage that is provided with this type of insurance is coverage for your trip expenses in the even that your trip is cancelled for non-weather related reasons. For example, the company unlawfully sold you a unusable ticket, or something to that nature.
You would also be covered in the event of a medical emergency. Your travel insurance would cover medical expenses that you incurred, including helicopter evacuations, as a result of the accident that you were involved in.
You, or your family, would also be covered if you happened do die accidentally while traveling.
So you see, there are a number of reasons why anyone would want to purchase travel insurance. The next time you plan on going on vacation or a business trip, make sure you are covered.

Program Today AgileNotes Touch 3.0 FREEWARE

No virus and no malware included, have main function for An advanced notes editor for Windows Mobile.
Hope you can read complete review from the web publisher :
Developer: AgilityLab
Support Email: agilenotes@gmail.com
Web Site: http://www.agilitylab.com/
v3.02
Full-functional AgileNotes Touch is FREEWARE now!
AgileNotes Touch 3.0 is an advanced notes editor for Windows Mobile.
Main features are:

* Finger oriented touch user interface
* Text format tools (style and color) with current word autoselection
* PWI, RTF and TXT files support
* Embedded file manager with basic file operations support
* VGA/WVGA and QVGA/WQVGA support
* WM5 (*), WM 6, WM 6.1 support

 Software Official Website : http://www.freewarepocketpc.net/get-agilenotes-3-0-touch.html
Software Download link: Click here to download
Submitted by : Hartman Kramer
Contact : Send submitter email
Website: http://freewaregroup.com/

Downloader Download PocketRoller

If you get some problem and want to take a minutes for download this software, i found this software a few minutes ago, and hope it usefull for you … A fun fast way to roll a die!
Here is complete description from software development : Developer: Christopher Chase

Support Email: cpchase@gmail.com
A fun fast way to roll a die!
  
Software Official Website : http://www.freewarepocketpc.net/get-pocketroller.html
Software Download link: Click here to download
Submitted by : Ortega Rowland
Contact : Send submitter email
Website: http://freewaregroup.com/

How to Assess Risk

Most jobs come with some element of risk, that’s why it is vital that you have adequate home business insurance to protect your interests whether you work for someone else or you run your own home business. Employers need to take five steps to ensure that an adequate risk assessment has been carried out.

• Identify hazards
• Think about who could be harmed and how
• Assess risks, taking appropriate action to remove or reduce them as much as possible
• Record your findings
• Check risks periodically and take additional action if needed

Identify Hazards

An employer is required to look at and think about what might cause harm to their homeworkers (or others) that might arise as a result of them working from home. It might become necessary for an employer to visit their homeworkers in order to carry out a risk assessment, but homeworkers might also be able to assist by identifying hazards on their employer’s behalf. Small or less-likely hazards are no less important than larger/more pressing ones and should not be ignored when assessing risk. This might mean that issues regarding protecting children from harm must be considered and acted upon even when they might seem more remote than a more immediate danger (for instance, potentially harmful substances and materials should always be kept out of their reach).

Who Could Be Harmed and How

Employers need to consider who might be harmed by a homeworker’s work and how. This isn’t just limited to the homeworker and the direct risks they face whilst working, but also the risks posed to all members of the homeworker’s household and visitors to the home at all times when their work might present a hazard.

Assess Risks, Take Appropriate Action

Should the employer discover a risk that they feel could be dangerous to the health and safety of a homeworker (or to anyone else in the home), then they have to think about what can be done to mitigate the risk or remove completely where possible. The action that will need to be taken will depend on the scope of the risk involved and the likelihood of an incident occurring based on who is likely to frequent the house. This can be demonstrated by understanding that the likelihood of a child getting hold of dangerous chemicals and swallowing them is much higher if there are actually children in the house; if there are no children in the house and none ever visit, the need to prevent children being able to reach dangerous chemicals is far less pressing. If there is no risk, the employer needs take no action.

Record Your Findings

If you have five employees or more, you are required by law to keep records of the more significant findings of your risk assessments. You also need to make a note of any steps you have taken, informing the homeworkers and any others who might be affected by the steps (and any work undertaken to implement them).

Check Risks Periodically and Take Additional Action

It is important to keep up to date with risk assessments after reasonable intervals, also undertaking a new assessment whenever the homeworker’s circumstances or job requirements change. The homeworker should be aware that their home insurance policy might be invalidated if they are doing anything other than light clerical or administrative work from home.

Whole Life Insurance Choices

What is whole life insurance?
A whole life insurance policy covers you for your entire life, not just for a specific period such as term insurance. Your death benefit and premium in most cases will remain the same. Whole life insurance also builds cash value, which is a return on a portion of your premiums that the insurance company invests. Your cash value is tax-deferred until you withdraw it and you can borrow against it.
Are there choices within whole life insurance?

Yes, the most common choices include traditional, interest-sensitive, and single-premium whole life insurance policies. A traditional whole life insurance policy gives you a guaranteed minimum rate of return on your cash value portion. An interest-sensitive whole life insurance policy gives a variable rate on your cash value portion, similar to an adjustable rate mortgage. With interest-sensitive whole life insurance you can have more flexibility with your life insurance policy such as increasing your death benefit without raising your premiums depending on the economy and the rate of return on your cash value portion. Single-premium is for someone who has a large sum of money and would like to purchase a policy up front. Like other whole life insurance options, single-premium whole life insurance accrues cash value and has the same tax shelter on returns.
What are the benefits of choosing a whole life insurance policy over other types of life insurance policies?
Unlike term life insurance, a portion of your premium money goes toward your cash value which in turn could pay off your entire policy only after a few years. Also, your premium will remain constant during the time you are covered unless you choose otherwise. And, unless you make a change to your whole life insurance policy, you have lifelong coverage with no future medical exams. Whole life is also a good choice because of the tax savings.
Should I purchase a whole life policy for an investment?
The rate of return on a whole life insurance policy is very low compared to other investments, even with the tax savings factored in. Most investment professionals would agree that life insurance should not be used solely as an investment tool and you should judge your policy choices on the protection and not the rate of return. But, if you are in need of life insurance, the tax benefits and cash value is an added bonus when purchasing protection for your loved ones.

A Low Cost Life Insurance Policy Option

Need low cost life insurance? Take a look at the budget friendly option of a term life insurance policy. Term life insurance policy premiums are generally much cheaper than cash-value policies (universal and whole), especially if you are young and in good health and a low cost term life insurance policy does exactly what you expect it to do by financially taking care of your beneficiaries if you die. Here's the basics of a low cost term life insurance policy:
Purchasing a Term Life Insurance Policy

You buy a low cost term life insurance policy with a specified time period, usually one, five, or ten years. During that "term" you pay a specified premium. Your beneficiaries will receive a death benefit if you die during the term of the life insurance policy.
Facts About a Low Cost Term Life Insurance Policy
Seems simple enough, right? Well, as with all insurance, there are little complexities and loop-holes you need to fill. For instance, the death benefit may not be the same throughout the term life insurance policy depending on whether you choose decreasing, level, or increasing term life insurance. And, what about when your term is over? That's where renewable and convertible term insurance comes in. Take for instance you want a basic 10 year low cost term life insurance policy with the death benefit to stay the same throughout the term life insurance policy, and at the end of the term you would like to "convert" to a different term life insurance policy such as a cash-value policy, without taking another medical exam. In that case you would choose a level term convertible life insurance policy.
Deciding if a Term Life Insurance Policy is for You
Term life insurance does not build cash-value or have the tax benefits like universal or whole life, but it can be a great option for someone who would like life insurance, but can't afford the higher premiums. Here is a check-list to help you decide if a low cost term life insurance policy is right for you:

You're on a budget and cannot afford a very high premium.

You are young, and in good health.

You are looking for a simple, straight-forward, low cost life insurance plan to protect your beneficiaries. Talking to Your Insurance Agent About a Term Life Insurance Policy
When checking with your agent on term life insurance, ask a lot of questions. Generally, agents do not receive as much commission on term life insurance verses cash-value policies so you may have to probe a little for more information.

Considering Disability Income Insurance

Can you believe that according to some estimates one out of every ten persons will become permanently disabled before age 65? If you became that “one” and you could not perform your current job, what options would you have? For most people this would be a financial tragedy, and unfortunately most rely solely on Social Security, or workmen’s compensation and unemployment insurance from their employers to cover any unexpected disability. The trend of relying solely on these forms of disability income coverage is unfortunate because the maximum benefits from these sources, in most cases, is very limited and most people would have to dramatically change their lifestyle to survive on these types of disability income alone.
Considering a disability income insurance policy from your insurance agent is an alternative to consider for people who realize the risk of becoming disabled and want to protect their current income and standard of living.
Disability income insurance is designed to replace one’s income when they are no longer able to work due to a disability. There are many different elements that make up a disability income insurance policy so it is important to understand when and how one will receive the disability income if the need arises. For example, one will need to know how their policy defines and covers short and long-term disability and total disabilities. In addition, it is also important to know if there is a waiting period for the income to kick-in and how or if the income from the disability insurance policy will affect Social Security, workmen's compensation or unemployment benefits. There are also different types of policies to consider such as choosing a short or long-term policy period. Another key element to look for when choosing a policy is knowing if it covers disabilities from both accidents and illnesses. Here is a list of questions that will be important to ask and discuss with your agent when considering a disability income insurance policy:
1. What is the definition of disability in my policy?
2. How long will I receive my benefits?
3. How much will I receive? (usually a % of one’s current salary)
4. Will my benefit amount adjust for inflation?
5. Is there a waiting period before my benefits kick-in?
6. Can I get partial benefits if I can still work part-time?
7. How will my benefits affect my Social Security, workmen’s compensation, or unemployment benefits?
7. What are the exclusions of the policy?
8. Is the issuing company strong financially?
9. Can I renew my policy without doing another medical exam?
It is best to meet with a few agents to compare policies and quotes and don’t be afraid to ask a lot of questions. If you are working with an agent who does not answer your questions to your understanding, it is best to find an agent who is willing to take the time to help you understand the policy in-depth. Like any insurance policy, disability income insurance has many different coverages that need to be understood and it is especially important that you know what you are getting and when, since this will be the income you and your family may be depending on in the future.

Considering Long Term Care Insurance

Thinking about one's finances 20, 30, even 40 years in the future is becoming more common. Investing in 401K's and IRA's are also common to secure a pleasant and enjoyable retirement. But what if everything does not go as planned and you need help with your daily living activities as you grow older? Do you have enough in your retirement savings to live in the assisted living home of your choice? What if you want home care? Long term care insurance is designed to provide you help with these services due to a long term illness or long term disability.

Average costs for nursing home facilities can range anywhere from $30,000-$70,000 a year. Don't count on Medicare or Medicare Supplemental Insurance to pick up the bill. If you can qualify, Medicaid may pay up to half of the cost. Choosing long term care insurance can help you pay for costs of a nursing facility or home care if the need arises such as a long term disability or other long term illness. The guidelines below will help you determine if long term care is something to look into:
Who Should Consider Long Term Care Insurance?
1. You have a large amount of income or assets and feel you probably would not qualify for Medicaid.
2. You don't want to rely on assistance from the state or other sources such as relatives.
3. You can afford to pay the premiums. (Depending on your tax situation there may be tax benefits.)
4. You currently have health problems or have a family history of a long term illness. (Once you have a long term illness or long term disability you probably would not qualify to purchase a policy.)
If you feel you may fall into any of the categories above, it is important you find out more about where to purchase a long term insurance policy. Your employer may offer long term care insurance as a part of your benefits. If not, you can purchase an individual long term care insurance policy from your insurance agent. As always, every state has different insurance regulations, therefore it is best to check with your state on specific determining factors and qualifications.

What is Universal Health Care?

Universal Health Care Gains Popularity
Universal health care gained popularity with former President Bill Clinton. Although President Clinton's proposal is looked at as a large failure, it did start the universal health care ball rolling and got many in America thinking about a united health care plan. Ever since President Clinton's proposal, the debate on a united and universal health care system for the U.S.A. has continued to be weaved into election topics as a proposed cure to the United States health care crisis, which estimates have said leaves 41-50 million people in America without health insurance.
What is it?
Universal health care or also commonly known as a singe-payer system, united health care system, or national health care, would be similar to the current U.S. Medicaid health care program for low-income peoples but would apply to all citizens of the U.S. regardless of ability to pay.
Who else does this?
Many countries have a united or national health care system, and all industrialized countries except for the U.S., have some sort of single-payer universal health care system. Most notably Canada and the UK have coverage under this type of united health care.
Sounds great! How come we don't have a national health care system in the U.S.?
There is no right formula for a united universal or national health care system. All countries have different ways of accomplishing the task of insuring every citizen in their country. How to accomplish a national health care single-payer system in America and if it would be better and more cost-effective than our current system are the main debate areas for universal or national health care in the U.S. There are many advantages and disadvantages to a single-payer health care system in the U.S.
Advantages:
Every citizen would be covered under a national united health care system and administrative costs could be drastically reduced. According to the article Make Healthcare a Right. It's Cheaper! by By John R. Battista, M.D. and Justine A. McCabe, Ph.D., studies have shown that with a publicly administered system health care costs would have been reduced in Connecticut by two billion dollars in 1999 by the reduction of administrative costs along with other different medical buying techniques such as buying medications in bulk.
Disadvantages:
Income taxes would increase and private insurance companies may be put out of the health care administrative business. Not to mention many Americans are worried it is just another route to socialism so therefore taking away private health care is un-American.
Most would not argue that basic health care should be an available human right to all Americans and most would also agree that our current system is not working and we should all get united on health care in the U.S. The universal national health care debate will be with our society for an inevitable amount of time, or at least until healthcare is available to more Americans, so expect this to be a topic for politicians in many future elections.

How You Can Get Cheap Full Coverage Car Insurance

How You Can Get Cheap Full Coverage Car Insurance

Cheap full coverage car insurance is a dream come true, isn’t? You get all the coverage available at a rate that won’t break the bank. Unfortunately, there are factors that can prevent you from finding full coverage car insurance at a cheap price. Some factors are easily fixed, and others require a little elbow grease and patience.

Pay in full for your car. When you buy a new car, even if it’s used and just new to you, you might be tempted to finance it, i.e. get help from a bank or other lender. While this is a normal part of the car-buying process, it’s not necessary if you save the money to pay for your new car in full. Sometimes full coverage car insurance rates are higher if you don’t own your car outright. Plus, when you own your car outright you can opt for your state’s minimum car insurance requirements should your financial situation get tight.

Clean up your driving record. Full coverage car insurance is more expensive than liability car insurance. Since car insurance companies check out your driving record, any flaw has the ability to raise the price even more. Find out how to remove points from your driving record – even if it means waiting a few years for them to disappear.

Give your credit rating a bit of TLC. Many car insurance companies look at your credit score when determining your rates. If you’re credit history is less than stellar, take some time to repair it. Pay bills on time and pay off any debts. Just like cleaning up your driving record, repairing your credit rating takes time and patience.

Satisfy all court orders. Sometimes we make seriously poor driving decisions. Tickets for these mistakes, such as reckless driving and driving under the influence, sometimes bring more than tickets, fines, and points on our driving records – sometimes they bring special classes as ordered by the court. Satisfy all court orders to show the car insurance company that you recognize the mistake and have taken the steps to correct it.

Who Needs Life Insurance?

Life insurance is designed to protect your family and other people who may depend on you for financial support. If you die and lose your income, the people that are dependent on your financial support will lose that income, so life insurance can help cover some or all of that loss depending on the policy you choose. But there are instances where life insurance can be beneficial even if you have no dependents, such as your desire to cover your own funeral expenses. Here are some guidelines to help you decide if life insurance is the right choice for you:
1. Children: Children do not need life insurance. Yes, there have been cases where life insurance for one's child has been a blessing, but in the majority of cases, children do not need life insurance since no one depends on income from them. 
2. Beginning Families: Life insurance should be purchased if you are considering starting a family. Your rates will be cheaper now than when you get older and your future children will be depending on your income. 
3. Established Families: If you have a family that depends on you, you need life insurance now! This does not include only the spouse or partner working outside the home. Life insurance also needs to be considered for the person working in the home. The costs of replacing someone to do domestic chores, home budgeting, and childcare can cause significant financial problems for the surviving family. 
4. Young Single Adults: The reason a single adult would typically need life insurance would be to pay for their own funeral costs or if they help support an elderly parent or other person they may care for financially. Otherwise, if one has other sources of money for a funeral and has no other persons that depend on their income then life insurance would not be a necessity.
5. Non-Child Working couples: Both persons in this situation would need to decide if they would want life insurance. If both persons are bringing in an income that they feel comfortable living on alone if their partner should pass away, then life insurance would not be necessary except if they wanted to cover their funeral costs. But, maybe in some instances one working spouse contributes more to the income or would want to leave their significant other in a better financial position, then as long as purchasing a life insurance policy would not be a financial burden, it could be an option. 
6. Elderly: As long as you do not have people depending on your income for support, life insurance at this stage in life would not be necessary, unless again, you do not have any other means to pay for your funeral expenses. But, be aware that purchasing a life insurance policy at this age can be very expensive. Before doing so, first talk to a financial advisor or accountant about looking into other saving options to pay for your funeral costs before considering life insurance.

The Top Ten Insurance Myths You Need to Know

Learn why these insurance myths are inaccurate and find out answers to the top 10 insurance myths everyone should know.

Myth #1: Insurance Should be Bought and Used for Every Disaster

Insurance is designed to protect one from catastrophic disasters. An insurance rule of thumb: If you can pay for the loss or damage without a financial hardship then pay it, otherwise expect your insurance premium to eventually show an increase. Also, buying every type of insurance just isn't necessary. Sometimes the risk is worth taking rather than paying a premium.

Myth #2: If I am Alive, I Must Need Life Insurance!

Life insurance is designed to take care of one's dependants after the caregiver's death. If you have no dependants, then you probably don't need life insurance. This includes children and retired persons... usually they don't have people that depend on their income so life insurance for these groups can, in rare instances, be beneficial but is usually unnecessary.

Myth #3: I'm the Breadwinner in the Home, So Only I Need Life Insurance.

Have you seen the cost of childcare lately? Add that along with housekeeping, food preparation, home accountant, and school transportation. From that list alone one can see how much a spouse really contributes to the household budget. It is estimated a non-working spouse contributes at least, but usually more, the equivalent of a full time job. For this reason it is important to buy life insurance for everyone in the household if the absence of their income would cause a financial hardship.

Myth #4: Whole & Universal Life are the Best Since I Can Get My Money Back

Term life insurance is probably the best choice for most. Term life is set for a specific term, like 10-30 years, with a much lower premium than whole and universal life. Your best bet? Buy term life and invest the premium difference in a retirement account.

Myth #5: Flood Insurance is Only for People Who Live in a High Risk Area.

Everyone who lives in a National Flood Insurance Program area is eligible and can buy flood insurance. These areas are not always prone to floods so even if you think your area is low risk you may be eligible. Check with your insurance agent to learn more.

Myth #6: Our Insurance Will Cover My Son When He is Delivering Newspapers

If your vehicle is used for anything but personal use, then you will probably need to extend your personal auto policy to cover business use of your vehicle. Don't think just because you were unaware of your coverages this will get your accident paid for--your insurance policy is a contract that you agreed to adhere to. If you don't understand all the coverages in your contract you need to contact your agent about the questions you have.

Myth#7: I Don't Need Disability Insurance Because I can Get Social Security.

Don't count on Social Security to take care of all your needs if you become disabled. If you are able to get Social Security for your disability (not all get approved to receive disability benefits so don't assume you will) then you will still have to wait months before you receive benefits and your disability needs to be long-term to qualify. And even if you qualify for benefits, will it match your current salary? Probably not.

Myth #8: If I Need Nursing Care When I am Older, The Government Will Pay for it.

Again, don't count on Medicare or Medicare Supplemental Insurance to pick up the bill. If you can qualify, Medicaid may pay up to half of the cost. Choosing long term care insurance can help you pay for the costs of a nursing facility or home care if the need arises. Also, do you really want your family to have to pick up the bill if you acquire a long term illness or disability? Long Term Care Insurance is a great option and if started early in life the premiums can be very reasonable.

 

Myth #9: Umbrella Insurance Coverage is Just for Rich People.

Umbrella insurance is not just for the wealthy. With the common occurrence of lawsuits, umbrella insurance is a must for every home, auto, and watercraft owner. Umbrella insurance is designed to give one added liability protection above and beyond the limits on homeowners, auto, and watercraft personal insurance policies. With an umbrella policy, depending on the insurance company, one can add an additional 1-5 million in liability protection.

Myth #10: If I Don't Purchase Health Insurance it Won't Affect Others.

People who don't purchase health insurance eventually affect the lives of every American. When many people in a company choose not to purchase health insurance, it sends a message to the employer that health insurance may not be an important benefit, which in-turn could cost other workers a loss of their health insurance benefits. Also, when healthy people don't buy health insurance, the costs raise for others because the risk is spread through less people. For these and other reasons, many have encouraged the government to switch to a universal health care system where the government would help manage health care.

 

Group Life Insurance

Finding quality employees is only part of the challenge of running a successful business. Maintaining a well motivated staff is probably a more difficult challenge. In today's labor market the quality of benefits offered by the employer is a substantial consideration of both prospective and current employees. They are also interested in retirement and security for their families and often times they look at the size of the benefit in contrast to their out-of-pocket costs.

There are many plans to choose from and there is no right or wrong answer in selecting a program for your company. You have to think about how you would like to fund the plan, how much you and your employees want to contribute, and how much you want to contribute for your employees, if any. You have options. You can look at pure term life insurance which is fairly cheap and provides substantial amounts of insurance or you can look at a whole life program which provides cash value for retirement purposes.
Just less than half of all life insurance in force in the United States is group life insurance and the amount of coverage is in the trillions of dollars. Many people rely on group insurance as their primary insurance coverage.
In group life insurance a single contract is issued for a number of people. In fact, each individual may not even be named in the insurance contract. The employer will receive the master policy and the employees will receive a Certificate of Insurance which summarizes the coverage terms and explains the employee's rights under the contract.
The employer is the applicant for the insurance plan and generally provides the insurance for its employees as a benefit. The employer selects the type of coverage and determines the amount of coverage for each employee. The plan can be a "non-contributory plan" which is funded entirely by the employer or a "contributory plan" paid in-part by the employee.
The group must meet the underwriting requirements which rely on the experience of the group as opposed to mortality or morbidity tables.
Generally, a group plan has a lower cost than individual insurance plans because the administrative, operations and selling costs are much less to the insurance company. The employer either pays the premiums, if the plan is non-contributory, or collects the funds through pay-roll deductions and advances the funds to the insurance company if the plan is a contributory plan.
As long as the "group" was not formed for the purpose of obtaining insurance, almost any kind of group qualifies for group coverage. For example, labor unions, trade associations, fraternal organizations, creditor-debtor groups, and single-employer groups can be issued group coverage although some states restricts the groups to a minimum number of participants. Normally, at least 10 people must be enrolled; however, this number may be more or less in different states.
As noted above, plans can be contributory or non-contributory. Where the employer pays the premiums for all employees (the non-contributory plan) it is assumed all employees will participate. If the employee contributes to the premiums (the contributory plan), some employees may not wish to participate because they do not feel they can afford the smaller paycheck or because they have coverage elsewhere.
In order to avoid burdensome and potentially unnecessary administrative costs for employees who may only be employed a short time, it is normal to have a probationary period of one to six months before the employee is eligible to participate. After the probationary period, a set enrollment window is provided for the employee to participate. An employee who fails to sign-up during the enrollment period may be required to provide evidence of insurability if they should decide to enroll at a later time. Other normal requirements for employees to qualify are that they must be full time employees and, if contributory, they must authorize the employer to deduct their share of the premium payment from their paycheck (i.e. payroll deduction).
There are basically two types of insurance plans for group life insurance programs:

• Term Life Insurance – an annual renewable term (ART) policy is the most common plan and provides the lowest cost life insurance coverage. Participants do not have to provide evidence of insurability each renewal period. The low costs results from the fact the insurer has the right to increase premiums each year based on the group’s experience during the previous year. The policyholder also has the right to renew coverage each policy year.
  
• Permanent Life (whole life) Insurance – there are several variations of the permanent life insurance option:
  
  • Group Ordinary Plan – normally, if the employees contribute to the plan they are allowed to own the cash portion. However, it may be set-up that if an employee terminates employment, the cash value will be forfeited and used to help fund the plan for the remaining employees.
    
  • Group Paid-Up Plans – these plans are a combination of term life insurance, paid by the employer, and whole-life insurance, paid by the employee. The death benefit is a total of the two plans. At retirement or termination the employee is entitled to the cash value (paid-up) policy.
    
  • Group Universal Life Plans – these plans offer a greater degree of flexibility than is usually found in other group life plans. The employee pays most of the premium payments; however, they are given certain latitude in selecting the amount of insurance and the premium amount to be paid.
    

There are several methods of determining how much insurance each employee can obtain through the group plan.

• Flat benefits – usually when the employer wishes to provide a small amount of insurance to the employees in order to maintain a minimum contribution they will provide the same benefits to all employees regardless of seniority, earnings, or position in the company.
  
• Earnings – another way to determine the amount of insurance for each employee is a method based on their earnings. For example, the plan may provide coverage calculated as a percent of earnings (2.5 times annual salary).
  
• Position – the position within the company may also be used to provide different levels of insurance. For example, laborers or operators may be allowed to participate in a $30,000 policy, managers in a $60,000 policy and vice-presidents in a $100,000 policy.
  

Once the plan becomes effective and the employee is enrolled in the plan, the employee remains qualified until the employee leaves the plan or the plan is terminated. The plan must allow a conversion privilege to a terminated employee which allows them to convert their enrollment from a group plan to an individual plan without providing new evidence of insurability. There is a 31 day window for the employee to determine if they wish to exercise the conversion period. If the terminated employee dies within that 31 day window, the benefits would be paid to the beneficiaries even though cost of the 31 day conversion window is not paid by the employee. Many group policies require the terminated individual to enroll in a whole life policy.
Other forms of group life insurance include:

• Franchise Life Insurance – used where participants are employees of a common employer (i.e., the employer may operate several companies) or are members of a common association or society. The employer/association/society is a sponsor of the plan and may or may not contribute to the premium payments. Unlike the employer’s group plan, each individual will be issued an individual policy which will remain in force as long as premiums are paid and the employee/member maintains their relationship with the sponsor. These are used by small groups who individually do not meet the state’s minimum numbers laws.
  
• Credit-Life Insurance – these are set-up by banks, finance companies, etc., to provide that if the insured dies before a loan is repaid, the policy benefits will be used to settle the loan balance. The premiums are usually paid by the insured as a means of collateralizing the loan.
  
• Blanket Life Insurance – used to cover a group of individuals exposed to a common hazard. For example, an airline may use this type of insurance to cover the passengers on a commercial flight. The insured are automatically covered and need not apply for the coverage and are not issued any sort of policy or certificate of coverage. At the termination of the hazardous event, the coverage is terminated. Schools, sports teams, volunteer fire departments, etc., are other examples of groups which may obtain coverage for personnel while engaged in named activities.
  
• Multiple Employer Trusts (MET) – the employer must become a member by subscribing to the trust and is issued a joinder agreement which spells out the relationship between the trust and the employer and the coverages to which the employer has subscribed. Used for employers who have a small group of employees and may not meet the state’s minimum numbers laws. Each employee is provided a certificate of insurance.
  

Any agreements and insurance policies within a business must be integrated with the overall plan and objectives of the business. Careful consideration must be given to the selection of the plan which is right for your business and to the method of funding your plan.

Liability Insurance

What is liability insurance?

Liability insurance is a type of insurance that protects a person who claims that the other party. Each insurance company should consider opting for this form of insurance, because it is protected from outside statements. For example, if the car was involved in an accident and another party has taken legal action against you for damages and losses due to accidents, auto liability insurance to help meet the costs of such actions.

professional liability insurance

professional liability insurance policies are not standard, each varies. The actual terms and definitions are presented here may differ from what is found in a particular policy. Make sure you contact a licensed professional liability insurance agent for specific details regarding your condition.

public Liability insurance

public Liability insurance is the same as a third-party insurance. If you or someone associated with the company, to cause injury, illness, disease or damage to other property or persons, this is a public liability insurance.

Public liability insurance is also important for all types of business, regardless of their size. If a third party claims that has caused you an injury, or they can be an expensive process, even if you're not guilty.

Although the law you must carry liability insurance for employers, which you recruited people, there is no legal requirement to have insurance instead.

general liability insurance

general liability insurance covers many things, bodily injury and property damage. In essence, it covers you when you and your employees causing injury damage per person or their property. General Liability insurance, is individualized, so if you are looking for online quotes, your information will be subject to a number of companies qualified to be an agent in your area reviewed. You should talk to the agent to buy, to see what is covered.

You need to check and an insurance agent or two in your state. Prices vary depending on the state, and the prices are calculated on income. Not all insurance companies have agreed on all states. Each independent dealer has a number of insurance companies that he can write, so has the advantage of an independent ombudsman to find the best general liability insurance.

Third-party (3rd) Liability insurance

Third-party Liability insurance protects the insured against legal claims by third parties. Policies protect against many forms of liability, liability car are the most common.

third-party claim

In a third-party claim, the insurer settles claim with another party, known as an actor. The payments of the insurance contract is the applicant or insured.

The only one who can choose the right insurance for you is you. So you should consider your safety and the other party.

Business Insurance

What is business insurance?

business insurance not only protects your business, but business interactions. In some cases it can even be legally responsible for one or more forms of business insurance.

small business insurance

Any business, large or small, must have insurance to protect their property. small businesses insurance is very important to keep in any case. Assurance Framework for car insurance, adequate coverage to meet your business needs are available.

small business insurance quotes

So how can you find small business insurance quotes? In fact, there are a number of different ways that you can take to obtain insurance quotes for your business.

Make calls. Making calls to insurance is the primary way to get a loan for many years. It may take a little 'time to search hundreds of insurance agencies, which may be in your area, depending on the amount of small business insurance quotes are required. In this case it may be many times when you have to wait a day or more may be required to quote.

Internet search. On the Internet, many times you can find sites that will help guide the search process for small business insurance quotes. Just tell the website information and the type of insurance you are looking for and appointment. Is not it amazing? In this way, proved to be the strongest growth for a variety of different small business insurance quotes in the shortest time possible. Many consumers are changing their methods.

Ultimately, after receiving the premiums for small businesses insurance and who have cared for them, being able to find the right insurance agency.

Property Insurance

What Is property Insurance?

Property insurance protects your business against physical damage or loss of assets. The assets also include the area where the company operates and the products provided there. In disasters such as fire, theft, explosion or vandalism to property insurance to help recoup their loss - either to repair damaged property or replace what you lost.





Home property Insurance

Home property insurance is that provides protection for your home, whether an apartment, condominium or house.

A policy of home property insurance pays the cost of damage to the actual structure of your home. Apart from that, the house property insurance also covers the contents of your home. Disasters, the cost of replacing the contents of the house of loss or damage can be costly and far more than most people care to wait. Therefore, when you decide to buy a house property insurance, make sure it includes coverage of content and coverage of the replacement cost.

Types of home property insurance coverage

Home property insurance provides coverage for liability for injury to any person by reason of negligence within the bounds of your property. In this way, paying home property insurance for the costs of a lawsuit or other legal costs if someone decides to sue you. Liability insurance is not a requirement imposed by the government for home property insurance but it could be your last line of defense against lawsuits against you profit.

When you apply for a mortgage, home property insurance required by lenders. If you rent, but you may not know this fact home property insurance. Still, it's always a good idea to budget for home property insurance, even if you rent an apartment. Natural disasters such as fires and floods can damage the house and furniture, and the reimbursement of expenses may be too expensive. Home property renters insurance coverage is in response to needs.

casualty property insurance

Property casualty insurance is insurance for homes, cars and businesses. Technically, the insurance protects the property of a person or company with interests in physical property against loss or the loss of his earning capacity. Casualty property insurance mainly protects a person or business against legal liability for losses caused by damage to other persons or damage to property of others.

Auto Insurance Quotes

When the hustle-bustle of our hectic lives to ensure ourselves in the auto insurance quote more than the desired choice. Whether we are part of the workforce or a student or working with small businesses, the use of the vehicle is always covered, and very cheap auto insurance.

We are bombarded with many auto insurance companies with their unique ways of marketing - some of them are cheap auto insurance quotes, while others are quotes not. Cheap auto insurance quote are very beneficial. It will help you if you meet an accident, and moreover it is available at a very reasonable price.

Make sure these points in mind before I go for cheap auto insurance quotes:

We must not address the economic problem in the way of auto accident. low cost auto insurance should cover all costs, is set after accident.Comfortable coverage while the vehicle is the way the incident, when we go to cheap auto insurance. Nobody wants to pay in his pocket after his meeting with an accident. Jolt the incident and the financial loss would not be parallel.

It is important that we prefer a good insurance auto insurance or cheap, depending on your temperament. If you are anxious while driving, then your problems will not end if you complete an accident. auto insurance market is not good for you.

It is good to keep some things in mind before getting cheap auto insurance quote:

A comparative study of online auto insurance is a must to get the best deals on auto insurance quotes cheap. In addition, buying online gives you entry to concessions. Dear auto insurance quotes could be obtained if the vehicle is low. An auto insurance quote depends on the number of people driving the auto. It is always advisable not to include young adults. If more than one auto with you, it is wise to approach the same company. Good add-ons in your auto feel your sincerity in the maintenance of your auto and thus pave the way for cheap auto insurance. You can customize airbags, ABS brakes, immobilizer, etc. We can apply to cheap auto insurance quotes showing the average miles traveled each year. We could get cheap auto insurance quotes when you do not choose full coverage of an older auto and less expensive autos. More importantly, we get the cheap auto insurance by agreeing to a higher deductible. This depends very much on the confidence of the driver / owner.

By accepting a higher deductible, the premiums paid can be minimized. If you are a member of a group insurance through employment should submit their application for insurance quote cheap insurance company.

Dear auto insurance quote is actually beneficial. It helps you meet an accident case and also acquired a very fair price. There are options that do not know how many auto insurance quotes cheap and it is very important to sift the wheat from the chaff to invest wisely. Fortunately, the choice of the policy of the law against auto insurance quotes offer to perform in the hands of the customer.

Some Tips on Selecting An Insurance Company

When shopping for auto insurance, do a little homework first, shop around, and select your insurer carefully. Your insurer should offer both fair prices and excellent service. These tips will help you find the right insurer for you:

• Know your state's auto insurance requirements:
  

  Most states require you to carry a minimum amount of liability coverage. Many states have "no-fault" auto insurance systems. Coverage for medical costs for you and your passengers is optional in some states. Coverage for damage to your car is optional.

• Write up your personal auto insurance profile:
  

  List pertinent information concerning what type of vehicle you drive, where you drive, who else drives, what your driving record is, where you live, what optional safety features your car has. This profile will make the next step easier.

• Comparison Shop:
  

  Prices for the same coverage can vary by hundreds of dollars, so it pays to shop around. Ask your friends, check the Yellow Pages, and call your state insurance department for guidance. Contact insurance agents or companies for general pricing information. Select a few insurers for personalized quotes.

• Meet with potential insurance agents:
  

  Make a few appointments, bring your personal auto insurance profile with you, and ask questions. You want a fair price AND quality service. Ask about available discounts, higher deductibles, service options and claims procedures after accidents. Take notes.

• Compare Again:
  

  Consider cost, coverage offered, and quality of service available. Select your insurer.

• Read your policy:
  

  Yes, even the fine print! Ask questions. Keep your policy at hand. Call your insurer to keep your policy up-to-date, inform your agent of any changes (new car, new job, new driver, etc.), and ask periodically about any possible discounts. Review your policy yearly with your insurer.

• Keep your insurance information with you:
  

  Many states require drivers to carry a proof-of-insurance card with them when driving. Ask your insurer for a card, and keep it in your wallet or in your car.

Disability Buy-Out Insurance

If you became disabled and unable to continue working, would the other owners buy your interest? What price would they be interested in paying you and would you accept that price? How long can the business afford to operate without the disabled person's help? How long can the business continue paying the disabled person's salary?

A Disability Buy-Out Insurance plan will fund an agreement designed to provide the company owners with the money they need to purchase a disabled owner’s interest in the company at a mutually agreeable price and at the correct time.
A disability buy-out policy differs from a life insurance policy designed to fund a buy-out in the event one owner dies, although a life insurance policy may be constructed to provide for disability benefits. A disability buy-out insurance plan is specifically designed to pay an amount equal to the pre-arranged buy-out amount agreed to by the owners of the entity. Generally, the provisions provide for a lump-sum payment, thereby facilitating the buy-out; however, if the owners desire, the plan can permit the buy-out to occur through the use of periodic income payments.

A disabled owner or partner generally represents a dual liability to the company. First, the company must usually continue the disabled person’s income during the disability period and, secondly, the remaining owners must take up the slack caused by the absence of the disabled person or hire a temporary replacement. The disability buy-out insurance policy will have an "elimination period" of 12 to 24 months to limit the dual liability and to provide enough time to be quite sure the disabled person will not be able to return to the business.
By purchasing the policy before the disability strikes, the business can provide a mutually agreeable solution to a very difficult situation.
The advantages to a disabled owner include:

• assures a definite price and buyer under mutually agreeable conditions
  
• no need to worry about the ability of the business to meet the buy-out commitment
  
• avoids costly and time-consuming litigation trying to reach a fair price
  
• family members can direct their attention assisting the disabled person instead of worrying about protecting their share of the business
  

The advantages to the active business owners include:

• assures they can buy-out the disabled owners share at a price and a time agreed to by everyone concerned at minimal cost to the business
  
• active owners remain in control of the business
  
• creditors, customers and employees are assured of business continuity
  
• assures the disabled owner will not sell their interest to an outsider because of cash needs
  

The insurance premiums are not tax-deductible and any benefits paid to the company are free of income taxes. Funds paid to the disabled owner, however, are taxed as a capital transaction.
Any agreements and insurance policies within a business must be integrated with the overall plan and objectives of the business. Careful consideration must be given to the selection of the plan which is right for your business and to the method of funding your plan.

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This material contains only general descriptions and is not a solicitation to sell any insurance product or security, nor is it intended as any financial or tax advice. For information about specific insurance needs or situations, contract your insurance agent. Our articles are intended to assist in educating you about insurance generally and not to provide personal service. They may not take into account your personal characteristics such as budget, assets, risk tolerance, family situation or activities which may affect the type of insurance that would be right for you. In addition, state insurance laws and insurance underwriting rules may affect available coverage and its costs. If you need more information or would like personal advice you should consult an insurance professional. You may also visit your state’s insurance department for more information.

Deferred Compensation Plans

A deferred compensation plan is an arrangement whereby an employee or owner defers some potion of their current income until a specified future date. Wages earned in one period are actually paid at a later date.

Life insurance can be used to fund a deferred compensation plan. The deferred amounts can be used to pay premiums on cash value life insurance. The cash value can then be available at retirement to supplement other income or, if the insured dies before retirement, the insured’s designated beneficiary would receive the insurance policy’s death benefit.
There are both qualified and nonqualified deferred compensation plans.


A qualified plan receives certain tax preferences under the Internal Revenue Code:

• the employer is entitled to a tax deduction for the amounts contributed to the plan;
  
• the benefits grow on a tax deferred basis until they are actually paid under the plan; and,
  
• distributions are generally eligible for rollover to an IRA or other qualified plan, thereby permitting further tax deferral.
  

Note: Employers should have an IRS ruling regarding the tax status of a qualified plan.
The disadvantages of a qualified plan include:

• nondiscrimination requirements prohibits an employer from providing benefits for highly compensated employees to the exclusion of other employees
  
• the amount of the employer’s contributions are limited
  
• regular reporting requirements
  

A nonqualified plan does not receive favorable tax treatment:

• the employer is not entitled to tax deductions until such time as the benefits are actually paid to the employee
  
• under the doctrine of constructive receipt the benefits are taxable to the employee at such time as the employee has the right to receive the benefits without regard to when the benefits are actually paid. The taxpayer does not actually have to take possession of the funds.
  

The advantages of a nonqualified plan are:

• the employer can pick and chose among the recipient employees without regard to years of service, salary level or any other criteria
  
• allows a business to provide benefits to officers, executives and other highly paid employees
  
• the amount of the employer’s contributions are not limited
  
• a nonqualified plan is less expensive to set-up than a qualified plan
  
• there are no significant filing or reporting requirements
  

Note: There are special timing rules related to FICA taxes and income taxes.
Other forms of funding deferred qualification plans include a “Rabbi Trust”, named because first IRS approved arrangement of this type was set up for a rabbi by his congregation, which involves an irrevocable grantor trust but subjects the trust assets to claims by the employer’s creditors; a “Taxable Trust”, which is protected from the employer’s creditors but taxes are paid on the income a the time the deferred contributions are made; and, bonds which allow the employer to coordinate the retirement with the maturity dates of the bonds.
Any agreements and insurance policies within a business must be integrated with the overall plan and objectives of the business. Careful consideration must be given to the selection of the plan which is right for your business and to the method of funding your plan.

* * *

This material contains only general descriptions and is not a solicitation to sell any insurance product or security, nor is it intended as any financial or tax advice. For information about specific insurance needs or situations, contract your insurance agent. Our articles are intended to assist in educating you about insurance generally and not to provide personal service. They may not take into account your personal characteristics such as budget, assets, risk tolerance, family situation or activities which may affect the type of insurance that would be right for you. In addition, state insurance laws and insurance underwriting rules may affect available coverage and its costs. If you need more information or would like personal advice you should consult an insurance professional. You may also visit your state’s insurance department for more information.

Variable Universal Life (VUL) Insurance

As in the variable life insurance product, the VUL also has the opportunity to achieve large gains which are tax-free to the beneficiary.

The variable universal life insurance policy combines many of the features of a whole life policy, a variable life policy and a universal life policy. The primary features are:

• premium flexibility;
• separate account control;
• assumed rate of interest;
• product is a security
• death benefit flexibility.

Initially, the insurance policy has a specified death benefit and a minimum scheduled premium payment designed to meet the first year’s mortality and expense charges. After that, the policyowner can pay into the plan whatever the policyowner wishes to pay as long as the cash value continues to cover the mortality and expense charges. If the performance of the separate account is significant the first year and results in annual gains, the policyholder may never have to pay a premium again.


Generally, within the separate account, the policyowner has several investment options created by the insurance company to select from when the initial premium is paid into the policy. The investment options may be mutual funds or other investment securities set-up by the insurance company and they may be graded from conservative to high-risk investments. The policyowner can redirect the investments without charge, usually once each year, to take advantage of or to speculate on the policyowners perception of the market.
The death benefit options are similar to the options discussed in the universal life insurance section.
Partial withdrawals may also be made from the VUL policies.

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This material contains only general descriptions and is not a solicitation to sell any insurance product or security, nor is it intended as any financial or tax advice. Consult your financial or tax advisor for specific questions. For information about your specific insurance needs or situation, contact your insurance agent. Before investing, understand that variable annuities, mutual funds and variable life insurance products are subject to market risk, including possible loss of principle. All individuals selling variable annuities and variable life insurance products must be licensed insurance agents and registered representatives. Variable life products allow the contract holder to choose and appropriate amount of life insurance protection that has an additional cost associated with it. Our articles are intended to assist in educating you about insurance generally, but they cannot provide personal advice. They may not take into account your personal characteristics, such as budget, assets, risk tolerance, family situation or activities, etc. which may affect the type and amount of insurance that would be right for you. In addition, state insurance laws and insurance company underwriting rules may affect available coverage and it costs. If you need more information or would like personal advice, you should contact an insurance professional.

Variable Life Insurance

The big bang with variable life insurance products, including variable universal life insurance, is that the policyowner has the opportunity to achieve huge gains in the cash value and those gains are tax free to the beneficiary.

A variable life insurance policy differs from a whole life policy in four main respects:

• a new concept, the ‘separate account’ is presented;
  
• the policyowner assumes the risk for the performance of the policy;
  
• a minimum guaranteed death benefit is provided based on an ‘assumed rate of interest’; and,
  
• the product is a security which adds significant new rules and regulations.
  
  

In a whole life insurance context, the insurance company places the premium payment into the company’s general account which it uses to earn income to feed back to the policies as interest. By establishing a guaranteed interest rate of return, the insurance company can calculate the amount of premiums required to achieve some agreed upon end point.
As in a whole life insurance policy, the policyowner in a variable life insurance policy is required to pay a set premium on a scheduled basis. In the variable life insurance context, however, the insurance company places the premium payment into a separate account specific to the policyholder and the policyholder has the responsibility of directing the performance (i.e. investments) of that account.
The insurance policy will provide a minimum guaranteed death benefit as agreed to by the insurance company and the policyholder and the funding of the death benefit will be determined by using an ‘assumed rate of interest’, which is usually around 4%. If the performance of the separate account exceeds the assumed rate of interest, the death benefit increases accordingly. Should the separate account performance be less than the assumed rate, for example less than 4% for a given year, the death benefit would drop from the previous year. However, the death benefit will never drop below the guaranteed face amount.
The separate account can invest in common stock, bonds, money-market instruments or other securities to achieve potentially higher gains than a fixed interest rate. Thus, the term ‘variable’ life insurance. As the markets move up and down, the separate account values (i.e. the cash value) will move accordingly.
Since the variable life insurance products switches the investment risk from the insurance company to the policyowner, these types of policies are considered both insurance contracts and securities and are regulated by both the Securities & Exchange Commission and the state insurance commissioner. An agent authorized to sell variable life insurance must be licensed by the state as well as by the National Association of Securities Dealers (NASD) as a registered representative.
As a security, variable insurance products are regulated by the Securities & Exchange Commission which brings out a new set of agent requirements dealing, primarily with full and fair disclosure laws. For example, any sales presentation must be preceded by or accompanied by a prospectus approved by the SEC. All materials used in selling and promoting these products must also be approved prior to use by the SEC.
Loans are also available through the variable life insurance policy; however, the amount of the loan is limited because of the volatility of the separate account. Normally, only 70 to 80% of the cash value is allowed to be borrowed.

* * *

This material contains only general descriptions and is not a solicitation to sell any insurance product or security, nor is it intended as any financial or tax advice. Consult your financial or tax advisor for specific questions. For information about your specific insurance needs or situation, contact your insurance agent. Before investing, understand that variable annuities, mutual funds and variable life insurance products are subject to market risk, including possible loss of principle. All individuals selling variable annuities and variable life insurance products must be licensed insurance agents and registered representatives. Variable life products allow the contract holder to choose and appropriate amount of life insurance protection that has an additional cost associated with it. Our articles are intended to assist in educating you about insurance generally, but they cannot provide personal advice. They may not take into account your personal characteristics, such as budget, assets, risk tolerance, family situation or activities, etc. which may affect the type and amount of insurance that would be right for you. In addition, state insurance laws and insurance company underwriting rules may affect available coverage and it costs. If you need more information or would like personal advice, you should contact an insurance professional.

Whole Life Insurance

A whole life insurance policy is designed to provide insurance protection for the whole of life (i.e. from the date of issue until the death of the insured) as long as the premiums are paid. It not only provides insurance protection, it also accumulates cash value.

A whole life insurance policy is designed to mature (‘endow’) when the insured reaches the age of 100. If the policyowner pays every premium from the date of the policy issue until he/she attains the age of 100, the policy would be fully paid-up (the cash value would equal the face value) and premium payments would cease. If the policyowner dies during the term of the policy, the insurance company will pay the face amount, which includes the cash value.

Although the primary purpose for purchasing a whole life policy is for the death benefit to provide security for those you love, etc., whole life policies have other outstanding benefits as well. These are:

• the death benefit paid to the beneficiary is free of income tax;
• the policyowner can borrow from the cash accumulation within the policy; and,
• the money taken out as a loan is not subject to income tax whether or not the loan is repaid.

The policy face value and premium rates are set at the issue date and remain level for the term of the contract. During the early years of the policy, the policyowner is younger and, because of the level premium rates, an more premium is paid in the early years than is required to fund the insurance. By guaranteeing an interest rate for those funds, the policy earns cash value at a rate designed to endow by the time the policyowner reaches the age of 100. Because very few people live to be 100, the whole life insurance policies will most likely either be surrendered for the cash value or the death benefit will be paid when the policyowner dies.
Since the policy has cash value, the policyowner can borrow the funds by paying a low interest rate. If an outstanding loan is not repaid at the time of death of the policyholder, the beneficiary would receive the face amount less the amount of the outstanding loan and any unpaid interest due on the loan. However, if the policy lapses for failure to pay the premiums or is surrendered, any outstanding loan is considered a taxable gain. Care must be taken to not over-borrow from the loan and to leave enough cash value in the policy to sustain the policy if the insured lives to an old age. Additionally, the policy itself, since it has value and is considered property, can be used as collateral or security for loans.
Death benefits are paid to the beneficiary free of income taxes. Life insurance is the only plan that can make this guarantee.
The basic forms of whole life insurance policies are:

• straight whole life – provides a fixed face value and level premiums until the policyowner reaches the age of 100 or dies during the policy years.
  
• limited pay whole life – the face value stays the same and the insurance protection extends until death or the age of 100; however, the premiums can be paid for a specific period of time or to a specific date (e.g., the 65th birthday of the policyowner) to fully pay the policy.
  
• single premium whole life – policyowner can make a single large one-time premium payment at the beginning of the policy period to fully pay the policy. This policy will have immediate cash value and allow the policyowner to borrow from the policy at a low interest rate.
  Note – to avoid becoming a Modified Endowment Contract there are certain rules and tests limited pay and single premium policies must follow.
  
• modified whole life – premiums are generally lower in the first years of the policy and higher in later years. This is designed for persons with limited financial resources but have the promise of higher resources in later years. The total over the period of the policy would be equivalent to the straight whole life policy.
  
• graded premium life – premiums are lower in the initial period and gradually increase before leveling off for the duration of the contract. Again, the total over the period of the policy would be equivalent to the straight whole life policy.
  
• Other policies include minimum deposit whole life, indeterminate premium whole life, enhanced whole life and indexed whole life.
  

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This material contains only general descriptions and is not a solicitation to sell any insurance product or security, nor is it intended as any financial or tax advice. For information about specific insurance needs or situations, contract your insurance agent. Our articles are intended to assist in educating you about insurance generally and not to provide personal service. They may not take into account your personal characteristics such as budget, assets, risk tolerance, family situation or activities which may affect the type of insurance that would be right for you. In addition, state insurance laws and insurance underwriting rules may affect available coverage and its costs. If you need more information or would like personal advice you should consult an insurance professional. You may also visit your state’s insurance department for more information.