Life insurance is a policy that pays out a lump sum if the policy holder should die within a previously agreed period of years, and is designed to offer financial security to family and dependents on the death of the policy holder.

On the basis of such a definition, it is important to make a distinction at the outset between term life assurance and so called whole life insurance (or investment insurance). Whole life or investment insurance certainly offers the life cover included in all life insurance policies, but it also incorporates a savings or investment element which reaches maturity when the insurance comes to term. This additional, investment element makes the whole life insurance policy a rather different creature and one that, given the recently rather poor performance of that investment element, one that has attracted some degree of criticism.

With term life assurance, there is no investment element. Should the policy holder die during the term of the insurance, an agreed and guaranteed lump sum is paid to the beneficiary named in the policy. If the policyholder survives the end of the term of insurance (i.e. he is still alive), then no payment is made. If the policy holder fails to maintain payment of the insurance premiums during its term, the policy is also invalidated.

The most common lengths of insurance term are 10, 20, 25 or 30 years and are generally available on a single or joint-life (typically, husband and wife) basis, and can include optional cover for critical illness or the payment of Family Income Benefit (which we discuss elsewhere).

There are a number of different types of term life assurance:

• Level term assurance – this is life insurance at its most simple and straight forward. The insurer agrees to pay out a guaranteed lump sum in the event of the policy holder’s death during the term of the insurance cover. The sum assured stays unchanged from the beginning until the expiry of the insurance. If the policy holder outlives that expiry, no lump sum is payable.
• Decreasing term life assurance – over the course of the insurance term, the guaranteed sum assured steadily decreases. This type of insurance is traditionally used to cover the declining balance of outstanding repayments on a mortgage loan. Most lenders will insist that some form of life assurance is in place to protect their loan in the event of the borrower’s death.
• Renewable term assurance – this arrangement gives the policy holder the option to renew the insurance at its expiry date and continue without having to provide a medical report.
• Convertible term assurance – this is the sort of hybrid life insurance that provides an option for converting a normal level term insurance to include a whole life, investment or endowment insurance element (as we discussed above).
• Increasing term assurance – this is a convenient way to compensate for the adverse effects of inflation over the term of the insurance by providing for an increasing value in the sum assured.
• Index linked term assurance – similarly, index-linking allows both premiums and the sum assured to be increased in line with the Retail Price Index.

Whatever type of life insurance you decide best meets your requirements, do note that:

• the terms and conditions of life insurance policies can and do vary, so always check that you fully understand the cover before signing on the dotted line
• some insurers will ask that you have an examination by a doctor to establish your state of health. This could result in an increase in premiums if they believe your health to be poor; you may be declined; or, you could be accepted at normal rates.

If an insurer does ask that you have a medical examination, don’t worry! Even simple things like being exceptionally tall could mean that you are asked to take one.

Did you know that it is possible to find car insurance for your teenagers in only 11 minutes? Not only can you find the insurance; you can also get quotes from different companies and get the rates and coverage that you need. For years, people have not been able to find good deals on car insurance for teenagers, but thanks to competing companies and the ability to search on the Internet, it is possible to get the coverage, plans and rates that you need for your teenagers insurance.
By searching online, you can have insurance quotes delivered to you fast and in only 11 minutes, you can choose from the quotes that are available. If you thought that you should always stay with your current insurance company to get the best rates, you may be able to save more money and get the coverage that you need by shopping around. While you sometimes can save money staying with your current company and adding on another policy, the rates for teenagers are often still very high, and most people begin to look other places to find the best coverage at the best prices.
How do you know what the best rates are? By entering in a little bit of information about yourself, your current insurance, your teenager and the car that is going to be insured, you can have multiple quotes delivered to you in minutes. Once you see the quotes from the different companies that you receive, you can take a few minutes and search through them to see what is available to you, and what you can choose that is going to get you the best deal.
If you have never tried to get online quotes for car insurance for teenagers, it can definitely be worth your while to check it out and see how much money you can save. A lot of companies are offering lower rates and once you see what is available, you can make the best decision on which company you want to work with. It used to be that everyone always had to stay with the current company that they had to be sure to get the best deals, but now there are other options.
If you are afraid of your insurance rates getting too expensive by putting a teenager on your current plan, try going online and see how much money you can really save by getting fast and accurate quotes. It can save you a lot of money, and help you get the best coverage and plans that you need to be sure that everyone is covered and you are happy with your plan.

by: stuart.craig

Taking out motorhome insurance is a little different than taking out normal car insurance. In order to make the best decision about the insurance you choose for your motorhome, there are some factors you should first consider.

Obviously, the cost of your motorhome insurance is important, but that should be balanced against how extensive the insurance is. Many insurers won’t insure self built motorhomes at any cost. Others add a hefty extra price tag and expensive engineer’s reports. A few insurance companies, like Shield Motorhome Insurance, are happy to insure self built motorhomes. They will even insure them from the time the policy is taken out, so there are not complications, delays or expenses in converting a policy from a van to a motorhome policy.

If you are seeking to have Shield insurance for a self-built motorhome there are several criteria that must be met. These are all standard safety features such as a side or rear door and a fixed gas or electric hob. There are seven in all and they are all listed on the Shield Motorhome Insurance website.
When you are comparing motor home insurance policies, be sure to read the fine print.

are you allowed to travel outside the UK to Europe for an extended period? Shield allows up to 180 days in a single trip!

What if you break down in Europe? Are you stuck there or does the policy include full recovery service to your home in Britain?

What about personal belongings? Can the policy you are considering match the £2000 for personal belongings that Shield offers?

You will probably be amazed to discover that Shield is not only fully comprehensive, but inexpensive as well! As long as you are over the age of 30, currently employed or retired and have had a UK driver’s license for at least a year, you will probably qualify for Shield Motor home Insurance. Should you Motorhome be worth over £40,000, it must have a GPS tracking device fitted.

Visit the Shield Insurance website today, for a free no hassle quotation.

Now think about all your removal appliances. Don’t leave out the TV and stereo. Some motorhomes are even fitted with satellite dishes, GPS devices and other electronic devices that may be in housings, but are nonetheless often stolen. Add to this your gas bottles, outdoor and indoor lighting fixtures, microwave oven and even your gas hob. You may be staggered by their combined value.

Add it all together and compare the cost of replacing these with the coverage different motorhome insurance companies offer. Will you get a third of the cost back in case your vehicle is stolen or stripped by thieves? What sounds like a generous allowance from one insurance company will probably not even touch the real value of everything that you carry in your motorhome.

Next, think about the your motorhome itself. If it is reasonably new, will you get “new for old” replacement if the vehicle is stolen and not recovered? Are you covered if you decide to make a trip outside of the US without first notifying your motorhome insurance company? Are you covered for an extended stay on the continent? What about windscreen damage? Can you get that replaced wherever you may be and still get the cost reimbursed to you?

Once you’ve thought about everything, you can then choose your motorhome insurance company wisely. You will probably find that Club Care Insurance offers the best comprehensive insurance for the best price that you can possibly get. Check their website for all the information you need to make an intelligent decision about insurance for your motorhome.

“You guys are AWESOME! Thank You. I now understand what is going on when my insurance agent starts talking crazy insurance talk! ”      T. Bilver – Tucson, Arizona

What Is Insurance?
Everyone goes through bad times, the idea and business of insurance was created to spread the result of a financial loss among many people, so the impact would not be so great to any one person. They just spread it out the cost to everyone.

The nuts and bolts of insurance are pretty simple. There are basically two players in the insurance arena. There is the insurer who collects your monthly insurance payment called a premium, and an insured, the person or business paying the premium.

The relationship between the insurer and the insured is covered in writing by a document called a policy. This policy outlines what the insurer (gets the premium) will pay if the insured (paying the premium) is involved in a situation that would require him to file a claim. A claim is “demand for something as rightful or due” in this case, it would be what ever terms were covered in the policy. That’s what insurance is.  Like the guys below us. We are here to explain the confusing and help figure out the language thats driving you nuts. Go GroovyInsurance!