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Life insurance
has a vocabulary all its own. Some insurance terms might sound familiar, but have a different meaning when used in the life insurance world.
The following glossary provides insurance terms and life insurance definitions to help you speak the “language of life.”
There are basically two types of life insurance
, Universal Life and Term Life.
Term Life
This is the simplest form of life and the most popular. It is intended to provide large amount insurance for a fixed period of time, but for those on a budget. Payments are fixed for the term of the policy which can last, 5, 10, 20, or 30 years.
Universal Life
Universal Life Insurance lasts for the duration of your life and has a cash value. The premium payments are above the cost of the insurance and the extra payment amount is credited towards the cash value in addition to interest paid.
The amount of interest credit by the insurer is often tied to a financial index, so it is possible to see gains or losses of the overall cash value depending on how the indexes perform. The potential benefit of Universal Life is as a stable investment vehicle.
Beneficiary
The beneficiary of your insurance policy is the person designated by you to receive the policy benefits upon your death. You may designate that the benefits from your policy be allocated to multiple beneficiaries. And you may change your beneficiary designations at any time.
Coverage Amount / Face Amount
The initial value of the policy to be paid to the insured’s beneficiary or beneficiaries in the event of the death of the insured while the policy is in force.
This value does not include adjustments for outstanding policy loans, withdrawals, dividends, paid-up additions or late/outstanding premium payments.
Health & Lifestyle Profile
The premiums that insurance companies charge for life insurance are also based in large part on the overall health and lifestyle profile of the proposed insured.
Typically, individuals in good health who do not use any kind of tobacco products or engage in any hazardous activities will be able to obtain less expensive coverage than individuals who are in poor health or who use tobacco or who engage in hazardous activities.
Different insurance companies use different criteria in determining the health status and lifestyle of the proposed insured.
Date of Birth
The premiums that insurance companies charge for life insurance are based in large part on the age of the proposed insured. Some companies use the attained age of the insured in this calculation, while other companies use the nearest age of the insured.
Insured
An individual who is currently covered under an existing life insurance policy.
Length of Coverage
Different term life insurance policies have different durations.
10, 15, 20, and 30-year term life insurance policies are very common. A 10-year level term policy will have an initial 10-year period in which premiums are level.
Premium
This is a payment to a life insurance company
in exchange for a life insurance policy. The payment typically does not change on term life for the length of the policy.
Premium Mode
The frequency in which premiums are paid. Typically, the total annual premium is slightly higher when payments are spread out over the course of the year as opposed to being paid all at once.
For example, a policy with a $200 annual premium may also offer a $101 semiannual premium ($202 total annual cost), a $52 quarterly premium ($208 annual cost) and an $18 monthly bank draft premium ($216 annual cost).
Proposed Insured
An individual who is applying for coverage under a life insurance policy. (See also: Insured).
Underwriting Classification
(See: Health & Lifestyle Profile, above).
Sex
The gender (male or female) of the insured or proposed insured.
Underwriting Guidelines
Underwriting guidelines are the health and lifestyle criteria for the proposed insured that insurance companies use to determine the appropriate underwriting classification upon which to base the premiums for the coverage.
These criteria typically include age, gender, tobacco use, height/weight build, and family history of heart disease or cancer, cholesterol levels, blood pressure levels, specific health conditions, driving record, hazardous occupation or activities.
Also, military service, aviation, foreign travel or residency, U.S. citizenship and felony criminal activity. It is important that all of these underwriting guidelines are taken into consideration when evaluating any premiums quoted for life insurance coverage.
State of Residence
The state in which the insured or proposed insured resides. It is not unusual for a given insurance company to be licensed to conduct business in some states and not in others depending on their licensing.
If an insurance company is not licensed to do business in a particular state, the company may not offer any of its products in that state.
If an insurance company is licensed to do business in a particular state, each of the company’s products must be individually approved for sale in that state. It is not unusual for a given insurance company to have products that are approved for sale in one state and not approved for sale in others.
By admin
For those who don’t know, health insurance is simply the coverage of medical claims of an individual, against the medical costs. Like many others you may not be able to afford an expensive insurance policy - but you can eliminate all the frills you don’t need and get the low cost health insurance you want and still be adequately covered. Health insurance, as with any kind of insurance today, whether individual, personal, business or family health insurance, is always a gamble. You’re gambling that you’ll take out more than you are paying in and your health insurance company is gambling they will pay out less.
You want to know what to look for in any type of good insurance. If you have always had a health insurance benefit
where you’ve worked and especially if you were a state or federal employee and now find you have to buy your own, you may not be able to afford the level of coverage you used to have. Finding good low cost health insurance today is easier than most people think.
To start, shopping for free health insurance quotes online is the easiest and best way to find low cost health insurance coverage. If you have any permanent health problems, such as diabetes, or have had cancer at any time in your family history, your monthly cost could easily be more than your house and car payment combined, but there are many different good insurance plans available today in the US.
The cold hard facts are the older you get the more important your health insurance policy becomes; this isn’t to say that you should not be concerned about your insurance when you’re younger. In case your doctor decides that something is an absolute medical necessity and it’s not covered under your current policy, the insurance company may exercise its discretion in paying for it, but don’t hold your breath. Many report they were eventually covered yet many more people get turned down.
One of the best ways to find low cost insurance is to get free health insurance quotes online. You can generally get very fast quotes and you want to compare several companies, as they will all have different criteria. This will be the fastest way to find low cost insurance.
Most importantly, you want a health insurance provider or company that has a good track record for paying without fighting you on every little detail. Your local agents may only be able to offer what they have currently available and not be able to offer you what’s best for both your pocketbook and your health.
The death rate in any given year for someone without insurance is twenty-five per cent higher than for someone with insurance so you want to make sure you get the best coverage you can get at the lowest cost as soon as possible. Heart-attack victims who don’t have insurance are less likely to be able to get angioplasty, which is often the treatment of choice. People who have pneumonia who don’t have insurance are less likely to receive initial or follow-up x-rays or necessary consultations.
In general because people who are uninsured are sicker than the rest of us because they can’t afford proper medical care, they can’t get better jobs, and because they can’t get better jobs they can’t afford insurance, and because they can’t afford insurance they get even sicker.
Although it does increase your risk, one way to lower your insurance costs is to set a higher deductible; if you’re in good health you’ll like come out ahead, barring an unforeseen event such as an accident, etc. Keeping yourself in better health will help you with less health insurance claims. All the insurance companies have to be very competitive because it’s so quick and easy to compare them with the other competing companies online.
Children without any insurance are less likely to receive proper medical attention for serious injuries, for recurrent ear infections, or for asthma for example and you want to avoid having to face a $100,000 open heart surgery without having any insurance.
So taking out insurance with higher deductibles and spending a little time online comparing at least five or more companies will make it more likely that you’ll find the best low cost insurance. There are many different health plans so make sure you get an understanding of all the low cost health insurance policies that are available from each company. Cheap or low cost insurance does mean a lower price and in some cases lower quality, but the price may be more important to some than the quality of the health plan. You don’t want to pay for more than you need but you want to consider any possible future health events you might encounter too.
Finding good, hopefully cheap, low cost insurance without giving up quality does not simply mean looking for the lowest premium but it means fully understanding all of the costs that will be involved in your policy. And finding the best health insurance is easy to do online, whether you’re shopping for long-term or short term health insurance from California, Texas or Florida.
With the rise of medical insurance costs today, most people look for low cost health insurance premiums that will ensure quality medical attention at the time of need, but at a price they can simply afford. Make sure to keep in mind that with low cost insurance options, you’ll need to compromise somewhat on the variety of services covered. Proceed surely but carefully.
By admin
Having your identity stolen is the ultimate form of personal attack. It’s not enough that they are taking items from you. They are now taking your credibility as well. Unfortunately, it is not only your credit that they are after. Some ID crooks want your medical insurance, while others may need to impersonate someone else in order to have a scape goat for their nefarious plans.
The five things you should do immediately if you ever find yourself in the unfortunate position of being a victim to identity theft is as follows:
*File a police report*
While it is true that police reports do little more than to get filed due to the perpetrator being outside of their jurisdiction, it is equally true that the paper trail will help when creditors are coming to you with unpaid bill notices.
*Contact your Bank and credit card companies*
Get an ATM status of your savings and checking accounts and request a meeting with one of the bank supervisors. Apprise them of your situation and request that they transfer your balances to new accounts and close the old ones. Make sure to provide a copy of your police report during the meeting as well. By doing so, you are protecting yourself from further damage and the bank as well. Further, the bank can flag attempts to access the old accounts and notify the police immediately of the attempt.
Contact your credit card companies and explain the situation as was done with the bank. Similarly, find out how to go about providing them with a copy of the police report, getting replacement cards, transferring the balances, and closing or freezing the old numbers.
*Contact the credit reporting agencies*
The credit reporting agencies are Equifax, Experian, and TransUnion. All three must be contacted and alerted to the fact that your Identity has been stolen
*Contact the social security administration*
With enough proof from the free credit reports you are entitled to get from Equifax, Experian, and TransUnion in addition to the police report; you should be able to get the social security office to issue a new social security number. If this is successful, you will need to contact the bank, credit card companies, and your employer to have them update the information.
*Contact your insurance groups including medical insurance*
A little know fact is that your identity can be stolen along with your medical card to obtain free or low cost medical care. Should you find your medical card missing, report it immediately and don’t let them issue the same card number. If you are waiting on cards for a new provider and do not receive them within three weeks, contact the insurance and ask them when the cards were mailed.
By not only reporting, but also making it harder for would be felons to benefit from the fruits of their ill gotten gains, we can regain that which truly belongs to us - our identity.
By admin
When searching for a good website hosting service for your website, you’ll need to consider a few things. Besides pricing and reputation you’ll want to look for a host that offers enough space for your needs, allows enough bandwidth for your site traffic, has relevant and good domain names available, and offers a good user interface for working on and maintaining your site.
Domain Names:
Probably the most critical decision when trying to establish a website is picking out a domain name (the web address) of your site. Many host sites offer sub-parr domain names that often have additional parts added to the web address which may cost less but also make your domain name less clean and less likely to be easily found by potential visitors. You’ll want a straight forward domain name that you can fit to your needs and while this may cost more initially it will be worth the investment. You’ll also want to get domain names that end in .com whenever possible as this is the most relevant and recognized ending of a site address.
Bandwidth:
If you expect to bring a lot of traffic to your site or you have a content rich site, you’ll want to make sure that your host allows enough bandwidth to both host and handle the content and traffic on your site. What good is a website that users can’t access due to the site exceeding it’s monthly bandwidth limit. Most hosts either have tiered pricing packages for more bandwidth to grow as your site grows, get the amount that fits your needs and adjust accordingly. Look for hosts that don’t have bandwidth ceilings so that you can future proof your site as traffic grows and demand grows.
Storage:
A lot of site hosting services boast free websites and free domain names for everyone. Not only do these freebie sites often come laden with ads that you make nothing off of, but they often come with measly storage for all the content and files you may want to host on your site. If you are starting a mostly text based site you may be able to get away with these free hosted sites, but if you intend on having any downloadable content, expect a lot of traffic, or have any multimedia on your site then you need to look for hosts that offer packages with varying amounts of storage space.
User Interface:
A site of your own is great, but if you can’t edit it easily and quickly then it can affect the overall look and experience of your site. Some hosting sites allow multiple ways to access your webmaster tools, but some may restrict you to using pre-made editors or may only allow HTML editing. If you are new to web site design, HTML heavy editing won’t appeal to you and if you are good with HTML, pre-made editing will drive you nuts.
Freedom:
As a final area to consider be sure to read the terms of service for web hosting services before signing up or posting your site. Many hosts do not allow adult content on their servers and some may even restrict or block certain kinds of sites based on the host’s wishes. Since the hosts own the servers and provide the bandwidth and storage, they often have a lot of rights when it comes to what they allow on their sites. You need to make sure your content and site will be accepted by a host and not shut down.
And there you have some things to consider when looking for someone to host your website. Getting a host for your site can be great because you won’t have to worry about the issues that come with hosting your own site such as bandwidth and storage and often you’ll get access to customer support and user tools to help make the most of your website.
By admin
Was an Intruder can shutdown your wireless home alarm system ?
YES ! intruder can be shutdown a wireless home security, a burglar alarm.
How to protect your security system from that cause for safe ?
First i give an introduction :
Your home unsafe because an intruder can be disarm your wireless security system .
On the time ,Wireless Home Security alarm system has this trouble and would be unsafe the installation of those systems may be in the past 3 years .
If you are using wireless security system at home ,DIY and now you are maintaining by yourself ,please read my posting here for full information to keep your home safe and prevent some intruder get your Master-Code for shutdown your wireless home alarm .
A./ Why an intruder must find to Disarm your system ?
A Wireless Home Security Alarm system “DIY” send and received signal by wireless (RF function).The first thing must be getting out an alarm that’s cut of the wireless signal.Not to cut as a wired lines or an electric cords, intruder must be find the SAME CODING as your MASTER code installed in your Home alarm system .
B./ All of the wireless system are setup Arming by the hand-held REMOTE controller ( wireless ),intruder must have the same Remote of your system now .They going around your house to see if any Outdoor siren/strobe-light already installed,the manufacturing named at here and for that intruder know about your system brand named.
- Tips and warning.
Therefor , your Home Security Alarm system is unsafe now ,I’ll give full instruction to you for protecting intruder in that case.First ,you can know your wireless is the new technology or an older same as i mention it’s has been installed over 2~ 3 years.
- Remove the cover of the Remote controller ,on the rear an 8 pin mini-contact is the right thing to intruder for keep your Master code the same of your’s.Very easy for everyone with alternate setup one by one coding to find out the same code of your installed system .
This is a cause of trouble :
Remember that ’s a wireless home security system ; when we set Arm or Disarm a sound must be hearing from the control panel .(Ex : ARM = “Boong-Boong” and DISARM “Ding-doong” some system have the variable sound but we known it on using )
A./ When we go away not at home , intruder begin to set up one by one selection code on remote controller,and push OFF button to Disarm .When he hearing the disarm sound “Ding-doong”,that moment intruder have the right coding of our system .May be ,he lost 2 hours for all works and he will come back to your home at any time.
Intruder set to ARM now and go away : in this case we don’t known our home are unsafe
This Intruder will be return in the next time on the day we’re go out .
B./ The most trouble in this case to protect your system for an intruder to find out the main Code of your wireless alarm system is the SOUND .
Important-tip : KEEP the Sound out of the control panel ; or must be set very low volume on sound by a pieces of sticker pasting over the side sounder on control panel.
By admin
What is the real value of money? Money is a form of energy necessary for the world that we live in; at least in the majority of the 21st century world. However human conditioning about money is often at the root of a lifetime of money problems or at least perceived money problems in some cases.
Cast your minds back to when the barter system existed as the core economical system, there was no need for money lust then, but of course the pure barter system had its’ inefficiencies leading it to being replaced by money for more convenience. If we had realised what slaves some of us were to become to money, would we have done this? Although now the barter system is making a comeback on the internet and through economical changes, barter communities are being set up to meet certain needs.
Money is only worth the opportunities it gives to us, and the real value of money can only be known when a person feels this way about it, and continues to feel this way, even if this person has increasing temptation as his bank balance grows.
Let’s put it into simple terms do you consider money to be your friend? Or do you see money as that cool, elusive person who vary rarely speaks to you? Or is money a friend to you but only when you do things that you know you don’t want to do or shouldn’t do?
Ok, perhaps this sounds a bit odd but attracting and respecting the energy of money lies in how you truly feel about it. Many people suffer from a lack of self-worth if they do not have what they feel is a sufficient amount of money. This has been encouraged for many years by the media and society at large. Television ads portraying the picture of a correctly, desirable lifestyle which must include the pretty or even beautiful home, a brand new stylish family car or ideally more, a trophy wife of husband, with picture perfect kids, families in ads who never argue and always look miraculously perfect.
Or to look at it slightly differently, compare how people react to you when you are having a great, buzzing day or the opposite type, where it is bad and you’re struggling to be out in the world at all. You know that you’re like a magnet on a good day and a repellent on a bad day.
So just move over this approach to how you see money and its real value. If you can shift your viewpoint and practice seeing money as your friend, you will see surprising changes happening. However be warned, these changes will not happen if you have only made a mental shift and not a fully embraced mental, emotional and physical shift towards your relationship with money.
Notice how many people talk a lot about how bad things are, how they are stuck for money, how they had worked really hard but then the extra big bill came in for car repairs.. You must stop yourself joining in these thoughts and conversations, because these are the vibrations of shortage. As long as you put energy into these you cannot possible expect to really see money as your friend, and create the financial abundance that is waiting for you!
By admin
One type of life insurance is called whole life insurance. This is a life insurance policy that remains in force for the insured’s whole life or lifetime and usually requires premiums to be paid every year into the policy. Whole Life insurance policies are also know as permanent insurance policies. As a result permanent life policies offer death benefits and a “cash value” that can also be seen as a kind of savings account. The way the cash value works is that if you live, you get back at least some of, and often much more than, the amount that is spent on the premium. You get this money back either by cashing in the policy or by borrowing against it.
Another type of life insurance is called term life insurance. This type of insurance is only offered for a specific length of time or term. Usually, in lengths of ten, twenty or in some cases thirty year terms. Term Life insurance policies only offers a death benefit. If an individual lives past the length of the policy, the insured (or, more specifically, family members) get no money back from the policy. Most level term programs include a renewal option and allow the insured to renew the policy for a maximum guaranteed rate if the insured period needs to be extended.
One last type of life insurance is called a simplified issue policy. This type of policy provides low-cost level death benefit protection for short-term needs such as debt obligations. A simplified issue policy generally is for a smaller coverage amount. Usually, up to a maximum limit of fifty thousand ($50,000). One aspect of a simplified issue policy is that it requires no health exam or underwriting approval for the policy to be issued. These types of policies usually carry a term of about five years that can be renewed for another five-year term.
Life insurance can generally be affordable if the proper research is done when deciding on the type of policy to purchase. The standard and usually most expensive type of policy is a whole life insurance policy. An individual that wishes to purchase affordable life insurance needs to determine the proper type of policy to fit their needs.
By admin
If you financial emergency, you may be looking for a fast cash payday loan to help your situation. There are some important things to look into before you apply for a payday loan.
It’s a good idea to take some time to research payday loans first. Many people are in a rush to get a payday loan and sometimes forget some important issues that they should consider before hand.
With payday loans you can get approved in about an hour with easy online access and forms. After you give the payday loan company your information such as job history, checking information and your contact information you may be approved very quickly in most cases. This is why it is important to take just a little time to look into what the APR, fees, and terms will be with a payday loan company.
Many payday loan companies can electronically deposit the cash you need right into your checking account within a day. Instead of having to wait days for a check to arrive in the mail, you can take care of your financial emergency quickly. This is the whole point of a payday loan. Most payday loans are for under $1,500 and are approved very fast.
The fee for most payday loans are about $15 to $30 for every $100 borrowed. This may not look like much at first but interest can add up over time quickly. This is why it is a good idea to pay back your payday loan within two weeks or less. This is what these type of loans are intended for, fast cash for short term financial situations. If you need cash for a long period of time, you should look into other types of loans that are available for your situation.
Online Payday Loans - How To Get A Fast Cash Loan Using The Internet
With online payday loans, you can get the cash you need for an emergency very quickly. You can get an approval, sometimes within an hour or two, without a financial credit check. Online payday loans are easy with simple online forms that are provided from these types of websites.
Always take time to look into the online payday loan services to make sure they are registered with the Better Business Bureau. You don’t want to get scammed.
Take some time out to compare the interest rates, fees and options that are available to you from the many online payday loan services.
Try to remember that the idea of a payday loan is to pay back the loan by your next payday. If you are in serious financial trouble, an online payday loan may not be a wise decision. With some time spent on educating yourself, you should have all the information you need to make a well informed financial decision.
By admin
The first question to ask yourself is do you need life insurance? Insurance is not, or should not, be an investment. Insurance is a protection from risk or risk of loss. If you are a single person with no one depending on you, then other than your funeral arrangements, no one is at risk.
If you have dependants, or a family, then you need to determine the amount of coverage that is right and what you can afford. If you are the primary breadwinner in the family, then what you need will likely be equivalent to your current earnings for the remainder of your lifetime. If you are not the primary earner in the family, then you need to determine if the loss of your income is going to be detrimental to your survivors.
Once you have determined the amount of coverage you need to replace the loss of income, determine how long that risk will exist. Consider the remainder of your life; will your income level go up? Will it go own? What are your needs going to be?
If you are building wealth over time, your need for insurance may be diminishing as you approach closer to financial independence. Some policies are structured where you continue to pay into them for your entire lifetime up to a certain age and then it can be surrendered for a cash value, typically these are called whole life or universal life policies. Insurance agents love to sell these policies because commissions are higher.
When you talk to your agent, you will likely be steered towards one of these policies. As people have become more informed about the advantages of term insurance, new products have been introduced like modified term policies that are hybrids of the whole and universal life policies and annuities. The problem is, these polices take a portion of your money and invest it, and that is where the payout in the end comes (assuming you make it to then). Often you are better off taking the money yourself and investing it on your own. In that case, you have full control of that money and when and where you can use it and what types of investments and growth risks you are willing to take.
Term insurance remains to be a viable option that also makes financial sense. With term insurance you are paying for just the period of your life you are at most risk of financial loss. Once you have attained a level of wealth such that you can be self-insured, you no longer need insurance, so why continue premiums? This is the advantage of term. Since it does not have a cash payout at maturity, it is also less expensive. This means you can take your savings over the more expensive policies and put those savings to work in stocks or mutual funds.
Buying insurance is never an enjoyable experience because it is money going towards something that might happen. There are no guarantees. Make sure you know your risks and how much you need to cover those risks if the worst case happens. Then shop around, prices vary even on the same types of insurance. Understand what the policy means and what it covers. Weigh the pros and cons. Also check with the state you live in for any consumer guides and publications available free of charge and to ensure your agent is legitimate.
By admin
Most companies today, whether large or small, are experiencing data overload. According to industry studies, many organizations are finding that they have to double their storage capacities every six to 12 months. With recent regulations such as Sarbanes-Oxley, HIPAA and others requiring businesses to accurately record and report and thus generate more data, this explosion of data will not subside anytime soon. In fact, as additional regulations are being anticipated for banking and other industries it is likely to continue it’s rapid increase.
To protect your mission-critical data and keep your company up and running, certainly having an efficient backup and recovery solution is key. However, in order to achieve and maintain backup efficiency, categorizing and organizing your data is also important, not only to ensure that necessary files are backed up but to minimize costs. Today, this is an especially complex task given remote offices and more and more mobile devices in use.
First and foremost, administration of data protection procedures must be centralized in order to maintain consistency and control. This will ensure that branch office data is also adequately protected. It is then incumbent upon the administrator to encourage the branch offices to save any and all data to the server, rather than on local hard drives, so that it can be backed up in accordance with the set backup schedule.
Categorizing your files into different groups with different backup schedules can help reduce your costs considerably. MP3 files for example, might only need to be backed up once a week otherwise, they might unnecessarily expand your backup window and depending upon what type of backup solution you use, your costs. You can begin by grouping your file data by type and access. The data type identifies data by purpose, while data access identifies data by usage and rate of change. Data type involves categorizing the data by Operating System, Operating System (OS) Data, Applications and User Data. Data access identifies the data’s usage and change rate. For some data, there might not be any modification because the data is archive data. For other data, there might be low, medium or high change. This process will help you determine how often your data should be backed up and how long it should be stored.
The following questions should be asked:
* Does the data support a critical business function?
* Does the data support a legal or auditing concern?
* Is the data sensitive?
* Is the data difficult or expensive to reproduce?
This will help determine how often to backup and how long to store the data in question. For example, data that supports a critical business function should be copied off-site on a regular basis and should have a brief retention period because of its high rate of change. Data that supports a legal or auditing concern should also be copied off-site on a somewhat regular basis; however, it should have a long or permanent retention period because of its nature. Sensitive data, such as patents or trade secrets, should be copied off-site on a regular basis and should be permanently archived. Data, such as historical information, that is difficult or expensive to reproduce, should be copied off-site once and should be permanently archived.
How you organize your data is also important. Structuring your system so the data files discussed above are organized in one area facilitates pointing the backup program to one area rather than having to gather files from widespread locations. Having personnel save their documents to a designated folder on the server is the ideal option. For example, each employee can have their own named folder where they can save their files. Typically, through the Preferences option, programs can be redirected to do this by default. Through this set-up, you can easily see which files need to be backed up and plan accordingly.
As the amount of business data grows, achieving the most efficient backup is all the more important. Whatever backup method you use, by simply categorizing and organizing your data you can ensure that you are backing up the right files and can minimize your costs at the same time. It just makes good business sense.
