Smokers have been attacked from all directions in recent years but there was a time when the best carriages on trains were reserved for smokers. There were smoking lounges in the best hotels. People who smoked were not just cool, they were the pace setters. There were even spittoons in public places where you could spit out your tobacco after chewing it. This is not the case anymore as today’s smokers are increasingly being treated as outcasts. Why has this dramatic change in attitude occurred? It was found that smokers died earlier than those who didn’t smoke and life insurance companies were one of the first organisations to act on this information.
Life insurance companies survive on the basis of being able to forecast accurately how long the majority of their policy holders will live. They base their premiums on this assumption and if they get it wrong their profitability falls. The only way they can get back on top again is to raise their premiums. However, to the benefit of non-smokers, when it was universally accepted that smokers generally died earlier than non-smokers, it was only the smokers who were made to pay for the extra risk they were carrying.
This is why it is so important that a smoker can not be allowed to fraudulently state they don’t smoke when applying for life insurance when in actual fact they do. If an over-abundance of policy holders did this the future viability of the insurance company itself would be challenged. If that happened thousands of policy holders, if not hundreds of thousands of policy holders, would run the risk of not having their beneficiaries paid should they die while legitimately covered.
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Income protection insurance is a vitally important cover, especially if you are self employed. It is insurance you will need to take out in order to protect yourself and your family against a loss of income should you become ill or injured and unable to work for any extended period. Such insurance will normally give you a monthly income that equates to 75 percent of your average earnings. It will ensure these payments are continued until you are able to return to work, or if you incapacity is prolonged, the payments will continue until you reach the age of 65 years, depending on what type of work you were originally employed to do.
Income protection insurance is an insurance which will allow you to continue to pay off your home, if you have a mortgage, or keep paying the rent if you are renting accommodation. It will also guarantee that you are able to continue feeding yourself and your family and that you can keep up with your day to day living expenses during times of enforced inactivity.
Income protection insurance will keep you financially independent and allow you to hold your head high in times of adversity. Without such assistance you could end up becoming destitute and living on handouts from family, friends, or even charitable institutions. However, there remains some aspects of income protection insurance that you may not be aware of, such as the following:
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There are a lot of ways you can save money in your everyday life, but if you tried to do all of them you’d find you lose out on a lot of what makes life interesting and fun. Therefore, rather than trying to follow all of the money saving tips you are bombarded with, consider these top 5 tips for saving on your life insurance policy:
1 – It’s about who you are and who you want to be
You may not think that your insurance company cares terribly much about who you are, but they do, they want you to be the best that you can be, because they don’t want to pay out your insurance policy any more than you want to die. Therefore, when there are easy things which are within your control to change such as your diet, quitting smoking and losing weight, then why not be the best person you can be, and save on your insurance premiums at the same time.
Some insurance companies will also look at your credit report to determine your policy amount and premiums. For example, if you have bad credit then you are a higher risk for the insurance company because you are more likely to default on your premiums. In some cases you can even be denied insurance if you have a bad credit report, so find out what credit reporting agencies are saying about you and request a free copy of your credit history. Often there are unpaid bills registered which you didn’t even know about, and you can instead have them fixed, and repair your credit right away.
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Most car insurance policies won’t pay for damage to your tyres caused by braking, punctures, cuts or bursts, which makes taking care of your wheels all the more important. Well-maintained wheels can even improve fuel efficiency and decrease your chances of getting a puncture.
When shopping around for cheap car insurance, especially when comparing policies online, pay close attention to the specifications in your policy document. Each provider is different; so whilst keeping the cost of your car insurance down is important, it’s also essential that you have sufficient protection from your car insurance.
How can you look after your tyres?
Making sure that your tyres are inflated to the right level can help to keep you safe on the road. Underinflated tyres can cause a variety of problems (on occasion, they have been known to overheat and explode) whilst tyres that are inflated to the correct level are also more puncture resistant. Underinflated tyres tend to use more fuel getting from A to B, so checking your tyre pressure regularly can improve your road safety and your finances.
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If you drive in Europe, your car insurance should protect you against damage or loss. If you want to be covered against breakdown, however, you usually need separate European breakdown cover.
Cheap car insurance will usually only provide the minimum amount of car insurance cover whilst you’re abroad. This means you’re covered for liability to third parties – and nothing else. If your windscreen cracks or you lose your keys, you will be on your own.
Quality car insurance, however, will usually extend the same level of cover stated on your policy for when you’re driving abroad in Europe. This means that whether you are driving down country lanes in England, zipping over the Alps in France, or whistling down the Autobahn in Germany – you can feel secure with a high level of cover against damage, injury, theft and liability to third parties.
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The growing number of consumers taking up health insurance plans has led to the mushrooming of scam health insurance providers. These providers often target new retirees and the elderly individuals and small-business owners, who can’t negotiate better rates with legitimate insurers. Be very cautious before you invest in any health policy. Read on to get an idea about 3 ways in which your health insurance company can scam you.
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