Cheap Gap Insurance For Your New Car or Used Car
Before You Buy Dealer Gap Insurance….
Gap Insurance is a policy you buy that sits on top of car insurance. If you buy a new car, or sometimes a used car (especially if you rolled in another note), the value of the car that an insurer uses may be much less than your actual note. That is especially true if you rolled other costs into your auto loan. If you purchased a car with a $25,000 note, but 6 months later the value of that car is only $20,000 because of depreciation, and your car is wrecked, you could still have $5,000 to pay on a note that covers a car you cannot drive!
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A dealer will probably offer you gap insurance, but these prices of usually inflated because of commissions and a captive audience. A lender may even require gap insurance because they know that your loan is higher than your insurer will cover. In any case, it is good to know that you can find direct gap insurance policies that can be half the price of a dealer gap insurance purchase!
So while gap insurance can protect one of your largest investments, and it can save you from a financial setback in case you do have serious damage to your new or used car, it can be shopped, and you do not have to buy gap insurance at the auto dealer!
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What Is Mortgage Life Insurance?
If your purchase a new home with a mortgage, or if you refinance your home, you are sure to get some offers for a product called mortgage insurance or mortgage life insurance. The card in the mail, or the phone call on your answering machine, will probably offer to protect your home mortgage in case of death, and maybe disability, and critical illness. In addition, you will see some mention of mortgage unemployment benefits.
In general a mortgage life insurance policy is a no medical exam term life insurance policy with a face value that matches your mortgage balance. Sometimes other obligations are added in too, since there is really no rule about having the face value matching a mortgage in most cases. In some cases, this is a decreasing term life policy since the premiums will be lower since the coverage gets lower as time passes, matching a lower loan balance.
Sometimes the policy offers a ROP Term Life Rider which will actually refund the premiums if the insured person survives the policy. The unemployment benefit on most mortgage insurance policies simply pays the premium during unemployment, though other forms of mortgage unemployment benefits are available.
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Cutting Life Insurance Premiums At Any Age.
It is a fact that life insurance premiums have dropped since the 1990’s. In fact, the drop is so severe, that the old and time worn advice about never replacing a life policy, may need to be re-examined. Of course, everybody should do their due diligence first, and make sure they are trading apples for apples, or if they are trading apples for oranges, that they understand and accept the exchange! OK, enough about fruit…..
For instance, term life insurance for older people is being sold at older ages, and at cheaper rates. If you were 50 years old in 1998, and purchased a 20 year term policy, you may do better to pick up a new 10 year term policy today, and that is even with you being 60 years old now.
What caused cheaper life insurance rates then? Well, insurance is very competitive, and insurers have found ways to cut the costs of marketing and distribution, as well as the requirements for physicals. In fact, you can find many term policies with reduced pysical requirements, or even no medical exam term life insurance.
Americans are also living longer, and transportation safety requirements have cut the accident death rate. When you look at life insurance rate improvements, it’s all good! So use a safe, fast, and free online life insurance quote form to compare rates from the comfort of your home pc!
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Buy Family Health Insurance Plans
Choose The Best Family Health Insurance
If you are leaving group health, than you should prepare for some surprises when you shop for your first family health plan on the individual health market. For one thing, many employees are not really aware of how much their company contributes to their premiums, and they are surprised by costs when they have to pay the whole bill themselves! But on the other hand, if those ex-employees have already seen COBRA health plan bills, they may already been made aware of the group health plan costs. If the family is fairly healthy, they may actually be pleasantly surprised by rates. Since insurers can pick and choose who they want to cover, individual rates can be be very affordable for preferred applicants!
So how do you answer the question: Is a PPO or HMO or HSA Health Insurance Plan Best For Me?
Think about your needs, budget, and expectations when you shop for health insurance. Also find out which plans are available where you live. Your choice of health insurance will depend upon what you want, what you can afford, and what you need. But since different states, and even zip codes within states will have their own rates, provider networks, and plan details, your choices may be limited by your local area.
This is why I usually recommend using an online health insurance quote form. You can enter your information one time, and then start your process by finding out which insurers are completive in our area. You may find dozens of plans, or be limited to a couple of choices.
If you live in a big city, you may be very happy with a PPO or HMO network because you can find plenty of plan doctors in your neighborhood. If you live in a small town or rural area, you may have more trouble finding a variety of medical services in your hometown, and you may want more flexibility to make choices. Of course, you may already have a family doctor you want to continue seeing. In that case, you will want to make sure that he or she takes the plan you choose.
If your initial search for your ideal health insurance plan frustrates you because of high premiums, it may be time to adjust your expectations. Some benefits, like doctor copays, are very expensive. If you only visit the doctor a couple of times a year, perhaps getting a network discount without the copay will be affordable enough to make it worth it to accept a plan without that benefit. If you think you can stick to a disciplined savings plan or have access to good credit, thing about dropping the premiums by raising your yearly plan deductible.
But make sure your plan does cover services you do need. For instance, if somebody in your household could get pregnant, many individual plans do not cover normal maternity costs.
I cannot tell you which plan to choose without getting to know your family. So do not be afraid to speak with qualified health insurance agents in your area. A good agent will not try to sell you, but will educate you, so you can make your own best choice!
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Buying the Best Life Insurance For You and Your Family
We always get the same question. What is the best type of life insurance for my family? I cannot give a one size fits all answer because the choice of coverage will depend upon your own needs and expectations for a life insurance product.
If you just want coverage, and especially if you are fairly young, then term life insurance is probably the product for you. Because it is a temporary product, usually lasting 10 to 30 years, and because it does not usually have any cash value, it is usually the cheapest coverage to buy. Find the best term life insurance quotes in your area here. If you are older, say middle aged or even in retirement years, you may be able to find term policies too. We are living longer, and insurers are promoting term life insurance for older people now.
On the other hand, you may want permanent protection that will not expire. The problem with term is that it tends to expire just when we are older and harder to insure at a low price. Consider adding a permanent policy to your coverage. If you are not familiar with permanent policies, look at whole life insurance explained so you can understand the product.
In a perfect world, a larger term policy would cover a family during their working and child rearing years. It would have enough of a death benefit to pay off a mortgage, plus more included to replace income, help pay for the chidren’s education, and provide money for burial expenses. In addition, I would want a smaller permanent policy to build cash value and be available in senior years.
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