A recent article in The New York Times on Disability Insurance takes an amused look at the sources behind the numbers used to explain how important disability insurance is to the American worker. But hidden behind this lighthearted discussion are some very real facts – the average person who becomes disabled rarely has the resources to maintain their pre-injury or pre-illness lifestyle. And that’s where disability insurance comes in.
Reporter Ron Lieber gets serious about how insurance companies attempt to limit your ability to make a claim. He touches on only one of the many strategies that we see on a regular basis: any occupation versus own occupation issue. “If you can afford it, you want what’s known as “own occupation” coverage instead, which should pay claims if you can’t do your old job.” He’s right.
Read more…
According to a recent report the demographic group that suffers most when it comes to the cost of car insurance is elderly women. Data from the insurance industry, which was recently released, has shown that from an insurance point of view elderly women are considered more dangerous behind the wheel than young men, and the higher risk is reflected in the cost of premiums charged to older female drivers.
Figures have suggested that after retirement elderly women who continue to drive could face premiums that are more than double the standard amount because of the risk based calculations that insurance companies use.
Read more…
It may even be harder to find auto insurance if you’ve been put into the high-risk category. Some providers out rightly tell you no, but others just inflate the premiums. You can’t avoid paying more, but you can comparison shop to find the best deal.
There are many different factors that may contribute to the classification of high-risk drivers. Nevertheless, the driving record is the most important factor in determining risk. If you have already participated in several accidents during the year or within two or three years, these incidents have a negative impact on your record, even if they are not your fault. Being involved in any accident can deem you scorcher with a penchant for getting into dangerous situations. In addition, if you got a few speeding tickets, you also increase the risk to get in an accident.
Read more…
