Auto Insurance is almost a necessity to have these days. Most everyone out there owns and drives a car around. Obviously when owning a car you need to take the proper precautions to protect you and the other drivers out there by having auto insurance. If you get in a car accident who fixes your car and the person that you hit? You need to be able to have the peace of mind that if an accident like that were to occur that you would be able to have the help you want.
Is It Time to Review Your Income Protection Insurance Policy?
Income protection insurance provides a regular tax free income if you are unable to work because of illness or accident. But having an income protection policy is just the first step. You need to make sure your policy is giving you the benefits you need, so a review may be a good idea.
Split Dollar Insurance - More About It
A person might be thinking that this is an insurance product. However, it is a way of paying for an insurance policy. In many cases, the cost of insurance could be unaffordable, especially when the coverage is extensive. This is a sure way to make insurance more affordable by sharing the outlay of the policy, or the premium between more than one party. In most cases, it is usually between an employer and employee.
For instance, an employer could wish to give benefits to some employees. For employees who are old, coverage for insurance could be relatively expensive; hence, the company could be willing to pay the cash-value part of the premium, while those employees pay the coverage part only. This is comfortable for the employee, knowing that is family is provided for. In addition, the goal of motivating the employee is achieved. When the covered person dies, benefits of the policy are reimbursed to the company for its premium contributions and the rest goes to the beneficiaries.
This is a sure way of saving money on life insurance, since it does not give space for confusion in relation to the ownership of the policy. There are three main ways on how the split-dollar life insurance is treated.
1. The first one is where the ownership of the policy is in the hands of the insured person. The legal documents in this case will show that a portion of the benefits from holder's death is given to the employer and what is left is disbursed to the respective beneficiaries. If the employee does not work for the company anymore, there is repayment of all contributions from the cash value of the policy and the original agreement is dissolved.
2. The second is the collateral agreement. This is where the employee owns the policy and the employer pays a portion of the premiums. According to this policy, the employer's contribution is treated as a zero-interest loan, which is payable at the death of the employee. The employer is repaid the equivalent of his or her contributions.
3. The third is the endorsement method. The policy is bought by the employer and hence becomes the owner. In this case, the employee is the beneficiary of the policy. However, the distribution of the benefits has a separate agreement.
For these payments, there is no tax exemptions for the premiums paid. The company can howeve, include the premiums as expenses, and can be deducted from pre-tax profits. The final payments and death benefits are both tax-free.
How Much Are You Self-Insuring?
Insurance policies take away all, or a portion, of the financial responsibility of replacing assets damaged under certain circumstances. Without insurance, an individual would be financially responsible for replacing all assets lost during what could have been a covered peril or, if they don't wish to replace them, simply living without the item and losing the initial investment made to purchase it.
Adjuster Continuing Education
Insurance adjusters have many roles and obligations to serve the public and their company. Their main purpose is to investigate, evaluate, and settle insurance claims. There are many different industries an adjuster can work for. They must be knowledgeable in what their specific company insures. The three most popular items an adjuster assesses damage on are homes, automobiles, and office buildings. They usually just specialize in one or the other.
Adjuster License Continuing Education
Any licensed individual practicing as an insurance or public adjuster must complete a specified amount of continuing education hours every 1-2 years; depending on their state's requirements. Continuing education is required for many reasons. In most cases two of the courses an adjuster must take every compliance period are ethics and adjuster law. Ethics covers the way an adjuster professional should act. It also shows them how they should be conducting business on a day-to-day basis.
Top 3 Methods To Get Low Cost Health Insurance Quotes
Insurance companies are less willing to cover incidents as frequently as they once did. If you struggle with receiving insurance coverage there are methods that will make getting lower insurance quotes more affordable.
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