Life Insurance Policies

There are various aspects to consider before getting a life insurance policy. One of them is a sustained doubt about the significance and need for life insurance. A life insurance policy is relevant for all individuals who are concerned about the financial future of their family in case of death.

Apart from the purely protectional needs, life insurance policies, like whole and variable life insurance, offer the opportunity for tax-free investment and reaping dividends, and they have a built-in cash value. Purchased with due discretion, it can be utilized as liquid cash to cater to the various needs of policyholders.

There are various types of life insurance policies customized to suit the different needs of various individuals. Depending on the number of dependants and kind of insurance needs, a suitable life insurance policy can be chosen after consultation with financial experts and advisors.

Whole life insurance and term life insurance are the two basic forms of insurance policies. With time, there have been different variations to suit the changing demands of people. A term life insurance policy is also called temporary or short-term life insurance. These are purely protection-oriented and provide death benefits only if the insured dies within the period specified in the policy. In case the insured lives past the specified duration, no money is given.

People with short-term insurance needs, like a young individual with dependents, a house loan or a car loan, favor this kind of insurance policy because they are cheap and affordable in comparison to whole life policies. In the initial years the premiums are very low; however, as the mortality risk of the insured increases with age the premium cost increases and at time becomes more than that of whole life insurance.

There are now two kinds of term life insurance, namely level term (decreasing premium) and annual renewable term (increasing premium) policies. The premiums of level term are initially higher than renewable term, but become lower in the later years. Whole life insurance has an ingrained cash value and guaranteed life protection features. The initial steep premiums of whole life insurance may exceed the actual cost of the insurance. This surplus, which is the cash value, is added to a separate account and can be used as a tax-free investment to reap dividends, and is also used to enable the insured to give a level premium latter on. There is a guarantee of getting the death benefit on the maturity of the policy or death of the insured, apart from cash value surrendered in case of cancellation.

Return of premium is popular because it combines the features of whole and term policies. It costs double the amount of a term policy. The policy is made for a set time, but full value is given on death within that period or in case the policy matures. Universal, variable and universal variables are different variations of whole life insurance policies. A universal life insurance policy offers the flexibility to the insured to choose the kind of premium payment, the death benefits and the coverage amount.

Variable life insurance policies enable the insurance buyer to invest the cash value in direct investment for a greater potential return. A universal variable insurance policy integrates the flexibility factor of a universal policy and the investment option of a variable policy. Single purchase life insurance enables a buyer to buy the policy and own it through a one-time premium payment. A survivorship or second-to-die insurance policy is a joint form of life insurance policy which is devised to serve the specific purpose of certain individuals. Apart from these, there are also endowment life insurance policies. Endowment is with profit kind or unit-liked kind. On maturity of the policy or on the death of the insured the value of the policy or the amount insured, whichever is more, is given back.

Life insurance policies differ from company to company, and hence the various parameters have to be analyzed meticulously with the help of experts and financial advisors to get the best deal.

Marketing Insurance and Financial Products on the Internet

Earning an income in insurance or finance takes consistent effort and a desire to succeed. Our world is saturated with various commission generating opportunities, and it can be difficult to wade through all of the available programs. Many of these programs simply do not work or they are heavily dependent on recruiting others to “join”. It is very important that insurance professionals generate cash flow, in a way that is comfortable, credible and cost-effective. Earning the maximum amount of money in the least amount of time is a fundamental principle. Finding a system that is not overly complicated, also makes success much more likely. For these reasons, technology is a way to elevate your insurance practice and further your career.

Because Insurance Marketing revolves around selling intangible products, there is no inventory to maintain and it is usually free to partner with reputable companies. Most carriers provide all the necessary marketing materials for local presentations, which helps save time. Having a small advertising budget to start pay-per-click advertising campaigns for your practice helps, but it is possible to spend nothing but time with respect to building your website.

Every situation is different, so it is advisable to gain access to numerous product offerings. Underwriting is based on age, tobacco, height, weight, health conditions, lifestyle and sometimes the amount of coverage can limit your offerings as well. Having the right product for each situation can increase your ability to satisfy your clients needs, without sending them to the competition.

Most carriers pay out generous commissions and allow applications to be taken electronically, so these solutions are cost-effective to implement. This makes it possible for effective marketers to earn a substantial income on each conversion. Plenty of companies have simplified issue products; which makes it possible to submit applications and receive commissions the same week.

Marketing the product is relatively easy and insurance leads make it simple to gain qualified prospects immediately, so it is possible to start making money right away. Insurance professionals should generate targeted traffic within local markets and drive them to their personal website. It also helps to utilize article marketing, blogging and word of mouth to get the message out about your business.

These are very effective ways to make good money from home or elevate your practice with very little risk. The business tasks are not hard to grasp, and many professionals start bringing in new revenue right away. Partnering with a brokerage that provides “A” rated carriers, technology and systems will empower you to generate a consistent income on the Internet.

George Williams is the President of Novus Insurance Solutions and Principal at DirectLifeBroker.com. Novus and DLB have incorporated cutting-edge technology with one of the best consumer support staffs in the industry, to assure a simple and safe process for purchasing life insurance. We have a full range of life insurance products for you, your family, clients, employees or members. With access to over 65 companies, we have a fit for nearly any circumstance.

Novus and its member partners provide custom designed life insurance websites, to insurance professionals, banks, credit unions, associations and unions. These websites increase revenue from new or existing clients or members and provide options not offered by all traditional carriers.

Do You Need Commercial Insurance For Your Vehicle?

When it comes to insuring vehicles, individuals usually purchase personal auto insurance, while businesses buy commercial insurance policies. But whether or not you should have commercial auto insurance varies greatly depending on how you use your vehicle. Individuals who engage in certain business-like activities with their car should definitely contact their insurance company to check to see if they need to purchase additional insurance. Additionally, any small business owners who have employees drive vehicles as a part of the job need to look into commercial auto insurance as well.

What Do You Use Your Personal Vehicle For?

Any personal vehicle that is used sometimes for business purposes probably needs commercial vehicle insurance. While it is true that some personal auto insurance policies may cover damage that occurs during business to an extent, you need to check with your insurance provider. Make sure you are dealing with a well-qualified independent insurance agent who understands your needs and has experience in dealing with both commercial auto and personal auto insurance issues. If you are unsure whether or not your policy covers your automobile, your best option is to utilize the wealth of knowledge that your agent holds. Bring your policy to your agent and ask them to review the your policy and coverage with you. Don’t leave your coverage to chance.

If you use your car or truck for any sort of business activity, you should consider purchasing commercial insurance for the vehicle. Do you deliver pizzas or other food with your personal car? What about delivering newspapers? Are you an event photographer that uses your own car to carry equipment? Any catering company, door-to-door consulting service, day care van service, real estate agent, or landscaping and garden service should definitely look into commercial auto insurance policies.

Businesses Need Commercial Insurance

Any vehicle that your business owns, leases, or rents, needs to be covered under commercial vehicle insurance. It’s required in most states to cover any financial responsibility if you or an employee is at fault in an accident. Basically, if you or your employees drive company vehicles or personal vehicles to conduct business, you also will most certainly need commercial vehicle insurance. A benefit of commercial auto policies is that they allow you to list anyone that you employ as a driver, an option you don’t always have with a personal auto policy. This way, any listed employee who needs to drive your vehicle can, without getting into issues that may come up should that person get into an accident.

Truckers in particular need to look into commercial truck insurance. Because trucks are much bigger vehicles and require special training to drive, truckers are held more liable for damages. They need to make sure they’re covered under a commercial policy.

Consider Commercial Auto Insurance

Commercial auto insurance is also needed if you need more liability coverage than a personal insurance policy provides. In general, you’ll need commercial auto insurance if the vehicle is owned by a corporate partnership, used to haul tools or equipment weighing more than 500 pounds, used to make deliveries, or is heavy enough to need state or federal filings. If this applies to your business, or if you use your personal car for any sort of business activity, look into commercial insurance today to protect yourself and your wallet.