Money Matters
Not Used
Risk Management
Insurance Contract Basics
Sep 8, 2008
There are as many different types of insurance contracts as there are types of insurance. The provisions in an auto insurance policy, for example, are different from the provisions in a long-term care insurance contract. In some ways, comparing insurance contracts is like comparing apples with oranges. Nevertheless, insurance policies all share certain common elements. Once you understand the basics of insurance contracts, you should be able to make some sense of your insurance policy--no matter what the type.
|
Shopping for Insurance
Sep 8, 2008
Let's face it: It's hard to buy a product that you can't see and really hope you'll never use. But unless you're wealthy enough to weather any foreseeable (and unforeseeable) financial storms, it's time to start shopping for insurance.
|
Why Buy Insurance?
Sep 8, 2008
When you drop a quarter into a slot machine, you know that your chances of winning are pretty slim. But risking a quarter (or perhaps much more than a quarter) may be worth it to you if the potential payoff is great enough. Insurance is a lot like that. You pay premiums not because you expect to die today, get into a car accident next week, or lose your home in a fire next month, but because the peace of mind it offers and the financial protection it could provide are worth it. You don't have to bear the risk of financial loss alone. Insurance is all about risk and financial protection.
|
Buying Insurance; What Savvy Consumers Should Know
Sep 5, 2008
You're ready to buy an insurance policy, but you feel a bit uneasy embarking into the insurance world. After all, the language can be technical, and you're wary of insurance agents throwing sales pitches at you. Whether you're buying an auto policy, a homeowners policy, a life insurance policy, or some other type of policy, here are some general tips to help you tread the insurance waters.
|
Choosing an Insurance Provider
Sep 5, 2008
The sale of insurance products has undergone enormous change in the past 10 years. Before 1990, the only way to buy property and casualty insurance was through the insurance company's agent or an independent insurance broker. Gradually, over the last decade, states have allowed banks to enter the arena and sell insurance.
|
Finding and Using Insurance Company Rating Information
Sep 5, 2008
Price is not the only factor to consider when shopping for insurance. Sure, you can probably get inexpensive insurance from a fly-by-night company, but will it still be around if you ever need to make a claim? It is extremely important to find a strong, financially stable insurance company that will be able to pay your death benefit when the time comes. Insurance company ratings--available for most major carriers--are tools that can help you evaluate the financial strength of an insurance company.
|
© 2008 Money Matters Inc