Colorado Marine Officer

Archive for August, 2009

Everyone needs the term life insurance to add more security to life. We help you out with all your needs including the paperwork. When you want a complete and pure life insurance cover for you or your family members then the term life insurance is your best bet. It is considered to be the original form of life insurance and is regarded as pure insurance protection because it builds no cash value. It is also the most affordable type if compared to permanent insurance such as whole life, universal life or variable universal life insurance. As this builds no cash value it means that it will not offer you a return on your investment and your money is not returned at the end of the term. Still, it can be the best way to insure one’s life and to cover the risk in certain conditions. People opt for this form of insurance when they need protection for a certain period of time. In general it may not be the most sensible insurance option if thought over practically, especially for those who are not looking at insurance as an investment option. But there are circumstances where it works out well than the other policies that carry a much higher premium compared to this one. This insurance is suitable to people having a considerable amount of debt and young children to support, or for young couples who need to have life cover.In such cases it is very difficult to pay the premium of the whole insurance. At such times, this policy comes as an answer to this people.The premium of this policy is much lower and affordable compared to other insurance policies and for the specified period of time there is a sense of security for the person who is insured. Worst come worst, after insuring for this policy if the insured were to die the amount insured is paid to the family and this money in such a situation will be exactly what the dependants’ need. The biggest benefit being the fact that term insurance can provide fairly large amounts of coverage with relatively low premiums. The coverage of this policy can be decided according to the amount of debts the family is having or the number of dependents and their financial needs in case the unexpected happens.The term of the insurance can be decided on the time your children or dependents will take to become financially self-sufficient. You should also consider your financial needs and those of your dependents. There are many companies that offer this particular policy. It is advisable to look for the company with reputation of answering the claims in short time with no hassles to the dependents. You can ask for online quotes from these companies to get multiple quotes so that you can decide between them.
As this is a policy for a specific period of time, take the cover for the most crucial period when you have many responsibilities to shoulder. In all, it is the best way to get the insurance cover in low premiums and to plan ahead.

If you need to make a claim on your travel insurance policy:
•check that you are within the time limits for making a claim
•check that you are covered for the situation you are claiming for. There is usually a maximum amount which can be claimed under each section of the policy, and a limit on the amount you can claim for any single item
•check your policy for any terms or conditions that you need to meet
•contact your insurer as soon as possible to request a claim form. This may be once you have returned home. Your insurer may have an international helpline which you can use to get advice on the procedures you must follow. Complete the claim form carefully, and keep a copy. Make sure you enclose copies of all relevant receipts. You may need the originals if your claim is refused. If you are also covered for part of your claim by your home contents insurance, you will need to state this on your claim form.
Lost, stolen or damaged personal property or luggage
You will be expected to take reasonable care of your belongings and to minimize any losses.
Your insurer will want evidence of the loss or damage. This may mean making a report to the local police which should be done within 24 hours, if possible.

Choosing travel insurance
Travel insurance can provide you with cover for:
•cancelling or cutting short your trip for specific reasons outside your control, for example, the unexpected illness of you, a close family member or a member of your travelling party
•missed transport or delayed departure for reasons outside your control
•medical and other emergency expenses
•personal injury and death
•lost, stolen or damaged personal property, including baggage
•accidental damage or injury you cause to someone else.
You can buy travel insurance to cover a single trip, or an annual policy covering several trips. As most travel policies cover you for cancellation, you should take out insurance when you book your trip. Some package holidays offer to include travel insurance but you do not have to accept this. You are free to make your own arrangements. A travel agent must not charge you more for a package holiday because you do not buy their insurance. If a travel agent tries to do this, you should contact Consumer Direct on 0845 404 0506.
Ask for quotes from several insurers to help you get the best deal for your circumstances. You will need to compare what each policy covers and:
•any exclusions. Some policies exclude dangerous activities or high risk sports such as skiing or scuba diving. If you are going on a holiday involving one of these activities, you may have to pay more for your insurance
•compulsory excesses. This is the amount you have to pay towards the cost of a claim. The amount may vary, depending on the claim
•additional conditions, for example, how long your journey has to be delayed before your insurer will pay you compensation.
Check whether any age limit applies.
Check your household contents insurance policy, as this may cover you for loss or damage to your personal belongings while you are abroad. You may decide that you only want to take out insurance for some of the other risks you can be covered for while you are abroad.

COBRA, which gets its name from the Consolidated Omnibus Budget Reconciliation Act of 1986, is a federal program that gives many individuals the right to continue coverage under a group plan. This law applies to insured plans and selffunded, employer-sponsored plans. Know Your Rights When Buying Group Health Insurance 9 Renewal Provisions and Changing of Premium Rates HIPAA, the Health Insurance Portability and Accountability Act of 1996, limits insurers’ power to deny or delay claims; reduces your chances of losing existing coverage; makes it easier and less risky to switch health plans; and prohibits insurance discrimination based on health problems.

· If you are leaving your job and you had group coverage, you may be able to stay in your plan an extended time (usually 18 months) through COBRA continuation coverage.

· If you are leaving a fully insured group or individual health plan, you may be able to buy a health policy from the company that provided your prior coverage. This is called a conversion policy. The benefits may not be as generous as those under your former plan.

· Under Arizona law, if an individual or group health policy provides family coverage, newborns, adopted children and
children placed for adoption are automatically covered under the parents’ fully insured health policy for the first 31 days. The insurer may require notification of birth within 31 days to continue coverage beyond the 31-day period.

· If you change jobs or your employer changes health insurance companies you will usually receive credit toward any waiting periods under the new plan