Steps to take in choosing the best life insurance for parents

Kathlyn Henderson 04/10/2018 0 Comments
insurance

Even if you are an adult, the death of your parent can prove emotionally overwhelming in addition to being a significant financial burden. Even if you are self-sufficient, you are likely to find yourself overwhelmed by your parents’ debt and funeral expenses. You may find yourself looking for an opportunity to make up for the lost productivity while grieving.

Therefore, taking out life insurance for people over 60 is a major financial decision. The steps to take when making this valuable financial decision include:

Discuss your intentions with your parents

Take the time to talk with your parents about your intentions for purchasing insurance. Some of the states expect the children to receive consent before taking out an insurance policy for their parents. Even where this is not required by the law, it is important to receive the knowledge and support of the parent to ensure the entire process moves smoothly.

 Gather information for the policy

Next, you need to work with your parents to gather the necessary information that you will require to apply for the policy. Some of this information includes the Social Security number, basic contact information, contact information for their doctors, driver’s license number and the general medical history. The insurance company to facilitate insurance quotes will use this information.

Determine the cost

budgetYou need to evaluate your finances as well as that of your parents to determine how much coverage to take out. For parents who have a large debt, you can consider taking up a policy that adequately covers the debt. Furthermore, you can opt for a policy that is about twice the amount that you are likely to spend on the funeral and burial. This will make sure the funeral is properly covered into the future while some money will be left to assist the family with other related expenses.

 Choose the right policy

You need to decide between whole life and term insurance. The whole life policy offers benefits for the entire life of the policyholder while the term insurance covers the parents over a set period. If your budget is limited, you can consider applying for the term insurance. However, older parents above the age of 60 and who have medical problems may discover the whole life policy is less expensive.

Meet with the company’s representatives

Meet with Behr Life Insurance Agency  with your parents. In each of these cases, you stand to qualify for multiple discounts – shop between the companies to discover the best deals.

Bring documents to the parents for signing

signingBring the necessary documents that require signing to the parents. The medical information forms, for example, will require the signature of the parent, even where you are paying for the policy and taking responsibility.…

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Tips for choosing the best trucker insurance

Kathlyn Henderson 06/07/2017 0 Comments
truck

When it’s time to choose trucker insurance, there are many different companies to choose from. With all the companies available, choosing the best truckers insurance can be tough. So, how can you pick a company that will be there whenever you need them?

Tips for selecting the best trucker insurance

Look at the department of insurance in your statecheck

First of all, start out by looking at the department of insurance within your state. Check out the complaint ratios for the companies that you are considering. Check out the comparison surveys as well. This will give you an idea about which companies are the best for vehicle insurance.

Talk to body shops

Take some time to speak to the body shops in your area, but make sure they are ones you trust. Ask the shop which companies they recommend. They’ll have an inside look because they deal with businesses on a regular basis when they deal with vehicle repairs.

Check out their financial strength

You should take the time to check out the financial force of a company before you choose them for your vehicle insurance. You can look at Standard & Poor’s or at A.M. Best to find out their financial strength rating. Make sure they are strong financially. You don’t want a company that can’t pay your claim because they’re going bankrupt.

Find out about customer satisfaction

Last, of all, know about customer satisfaction. See what real customers have to say about the company. Check with friends and family members and find out what they think about their insurance company. You can look at J.D. Power and Associates to find surveys on customer satisfaction that can give you a good look at clients and whether they are satisfied with a company as well.

Seek assistance from an insurance professional

It is always an intelligent idea to apply for help from insurance professionals. They have the experience, and they have the refined knowledge that can help you a lot in choosing the trucker insurance company. Also, be reminded that an insurance expert whom you ask for help should have a state-specific knowledge and experience in insurance as insurance policies vary from one state to another.

Company size and the years in business

Another information that can be very useful in cbookhoosing trucker insurance company is its size as well as how long has the company been in business. When a company has been in the circulation for so long – like in decades – you can be fairly sure that it has a lot of experience in dealing the complexities of the insurance business. It understands the risks, has long-refined strategies to grow assets, and has managed long-term financial obligations.…

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5 Benefits of Having a Funeral Insurance

Ina Baker 11/29/2016 0 Comments
insurance

Introduction

We all know this to be a fact, everyone gets old and will one day have to leave this life. It is a sad time for everyone, but it can also be rather costly matter. When we get old, if we are lucky enough we will pass away naturally, but often it is due to some illness that will end up with huge medical bills and a funeral expense that our families will be burdened with after we are gone. However, with a funeral insurance for the seniors, we can take care of all these even before things start going downhill.

What is this insurance?flower

It is simply a life insurance that extends a little further and includes burial costs. It will allow those we leave behind to manage all the expenses without having to pull out their savings. Here are some of the many benefits of getting this type of insurance policy.

1. Medical bills covered

Since many seniors may end up in the hospital due to an illness or old age, the insurance will cover any medical bills that may have added up. Many people pass away at a hospital, and the medical costs are not so cheap.

2. Burial expenses

The insurance will also cover the cost of burial which can be a cremation or a ground burial. You can specify if you want to graveyard service and/or memorial service etc. In this way, there will be no need for your family to think of the costs.

3. Show people you still care

Since a funeral requires a lot of planning and arrangements to be made, it will put more stress when your family needs to pull out money for the various expenses. If you have this policy in place, they will know that you have thought of them even after you are gone.

insurance4. Easy to claim

When you get the insurance policy, you will have to nominate someone who will become the recipient in case of your demise. All they have to do is take the death certificate, and the insurance policy and the funds will be released to them. It may be a lump sum or a monthly payment according to your instructions.

5. Anyone can buy the policy

The insurance can be paid for by a child who has elderly parents or by the senior themselves. The details do not have to be filled in immediately and can be done later on after discussion between family members.

Conclusion

Even though we do not like to talk about it, planning for a funeral or burial with an insurance coverage can make the difficult time a little less stressful for everyone concerned.…

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