Long-Term Care Insurance right for YOU

What is Long-Term Care?
Long-term care insurance can cover medical and/or non-medical support services used during a prolonged illness, disability or loss of mental capacity.

This care may include assistance with activities of daily living such as bathing, dressing, eating, toileting, transferring or continence. It may also include grocery shopping, laundry, meal preparation, managing medications, transportation, or various types of medical therapies.

Where is Long-Term Care provided?
Long-term care can be provided in a variety of settings including one’s own home, adult or group family homes, assisted living facilities, nursing homes and continuing care retirement or other community settings.

Who pays for Long-Term Care?
Individuals generally pay for long-term care services out of pocket, unless they qualify for low-income assistance through Medicaid or have insurance to cover the care they require. The monthly costs for long-term care range from a few hundred dollars for chore assistance to several thousand dollars for skilled nursing care. (Medicare does NOT pay for long-term care).

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Types of coverage

There are many different types of coverages available to meet your auto insurance needs. Some are required and some are optional. Here are brief descriptions of the available coverages:

Liability
Washington state requires liability coverage. This covers bodily injury and damage to property that you cause to others while using your car.

Personal injury protection
This covers a limited amount of medical and hospital costs, income continuation, funeral expenses, and loss of services. Coverage limits are defined in the policy.

Medical payments
This covers medical and funeral expenses (not all companies offer this coverage).

Uninsured/underinsured motorist bodily injury
This covers injuries an uninsured or underinsured driver causes to an insured person.

Uninsured/underinsured motorist property damage
This covers property damage an uninsured or underinsured driver causes to your insured vehicle.

Collision coverage
This covers damage to your car that is caused by a collision.

Comprehensive coverage (other than collision)
This covers damage to your car -- except by collision. For example, this covers your car if a tree falls on it or someone vandalizes it.

Emergency road service
This covers towing when your car breaks down.

Car rental expense
If you have a claim that is covered under your auto policy, this coverage pays to rent a car. Be sure to check your policy for any limitations.

Death, dismemberment and loss of sight
This pays for death and certain injuries to people named in your policy due to an auto accident.

GAP coverage
In the event your vehicle is a total loss, this pays the difference between the current market value of your auto and the amount you still owe the lender.

Custom equipment coverage
This covers direct and accidental loss to custom furnishings or equipment.

Many companies also offer other endorsements (additional coverage). Ask your insurance agent or broker about:

• Trailer/camper body coverage
• Snowmobile coverage
• Limited Mexico coverage
• Joint ownership coverage
• Auto loan/lease coverage

Remember to check your declarations page to verify the coverage you purchased.

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Understanding your auto insurance policy

Your insurance policy is a contract between you and your insurance company. It spells out exactly what the company agrees to do in exchange for the premium that you pay. This contract is divided into two sections: a declarations page and the policy itself.

The declarations page
This section of the policy includes basic details of the agreement. It is important that you review this page to make sure all the information is correct and all the coverages you requested are included. The declarations page includes:

• Name of the insurance company
• Name(s) of the policyholder(s)
• Policy number
• Policy period
• Description of the vehicle(s) insured
• Coverages purchased
• Limits of liability and deductibles purchased
• Premium charge for each coverage
• List of forms that are a part of the policy

The policy
The second part of your insurance contract is the policy itself. This includes:

• Insuring agreement
• Definitions
• When and where coverage applies
• Conditions if the vehicle is financed
• General conditions
• Mutual conditions
• Exceptions and endorsements of the policy

Make sure you review your declarations page to verify that your policy includes the types and amounts of coverage you requested.

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Insurance and home business

If you operate a home-based business – either part-time or full-time – you might be uninsured and not realize it. Many home-based business owners mistakenly believe that their homeowner policy will provide coverage for their business operations and property.

It’s true that your homeowner’s policy may provide a limited amount of coverage for business-related personal property in the home. However, it may not provide full coverage for property loss or if someone sues you due to your negligence. Don’t wait until you have a loss to determine your coverage. Contact your insurance agent or broker to figure out your insurance needs before you have a loss.

Business-related losses typically covered under a homeowner’s policy
The typical homeowner’s policy will cover a limited amount of businessrelated property. It also may cover a small amount of business activity, such as a boarder, or an in-home office with limited clients. However, homeowner policies generally include exclusions for business-related losses. It is very important to discuss your business with your agent or broker so they can make a complete assessment of your business insurance needs.

Types of coverage to consider

• Business-related personal property coverage (computers, furniture, etc.)
• Inventory
• Off-premises coverage for business-related personal property
• Business property of others
• Accounts receivable (up to a specified limit)
• Liability coverage, which may include personal injury, products and completed operations, incidental contractual liability, and general commercial liability
• Electronic data processing coverage
• Valuable papers
• Business interruption and extra expense

If your business is unique or you have others working for you, you may have other risk factors that aren’t listed above. Your agent or broker can help you determine your insurance needs.

How to find home-based business coverage
Most insurance companies that offer homeowner coverage will also offer a "rider" or extension of your homeowner’s policy. This broadens your coverage to include your home-based business.

However, if your business employs full-time employees or generates a sizeable income, you probably should think about more complete protection provided by a commercial policy. Commercial policies are separate from your homeowner policy. Your insurance agent or broker can help you decide your coverage needs and what coverage is available to you.

If you are a home-based business owner, you might also check within your community for trade groups and industry organizations for additional assistance. Often these groups can provide information and access to discount or specialized coverage tailored to your particular business needs.

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Foreign Travel and Health Insurance

When you travel outside your health insurance regular provider network, your insurer may not pay your medical bills, except for emergency care. Before you travel abroad, check with your health insurance to make sure you understand the rules in your policy. In some cases, especially if you plan to travel for an extended period to study or work, you may want to buy additional coverage.

What you should know about foreign travel and health insurance
Medicare doesn’t cover medical charges you incur outside the U.S. Other health insurers also may exclude or severely limit coverage for medical treatment you receive outside the U.S. You may want to buy additional health insurance to cover yourself while you are traveling.

If you are traveling abroad for a short time, such as for a vacation, insurers offer reasonably priced policies. Insurers may sometimes link this coverage to your purchase of other types of coverage at the same time — such as trip-cancellation insurance that includes medical coverage. Vacation insurance policies also typically cover only short-term travel — such as two weeks. If you think you might stay outside the country for any length of time, be sure to specify any long-term coverage needs.

Under Washington state law, these specialized policies are not classified as full-fledged health insurance. Insurers may legally refuse to cover some pre-existing medical problems. Lastly, unlike most insurance you buy in Washington state, some of these policies may include a deductible that applies to each claim.

Companies that offer health insurance to foreign travelers
The following companies offer health insurance to Americans traveling abroad and to families of Americans who live abroad and want to visit the U.S.

• Access America: 1-800-284-8300
• Champion Insurance: 1-800-643-4675
• Peterson’s of L.A.: 1-800-345-8816
• Travelex: 1-800-228-9792
• Travel Assistance International: 1-800-821-2828
• Travel Guard International: 1-800-782-5151
• Wallach & Company: 1-800-237-6615

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Types of Insurance

Insurance
The word "Insurance" refers to the promise of repayment of the money in the case of any loss to the insurer. The insurer may be an individual or a company who have made prepayment to an insurance company for a secured life. Insurance also provides "security against future loss". We cannot predict the timing and the occurrence of loss. So we need insurance plan in order to protect ourselves from the future loss. An insurance policy provides financial assistance to support medical, personal and social services.

Types of Insurance
Different types of Insurance plans are offered based on your needs. Some of them are
• Life Insurance
• Health Insurance
• Dental Insurance
• Property insurance
• Automobile insurance

Life Insurance
Life insurance policy is sometimes referred as life assurance, provides reimbursement of money to the decedent's family or other designated. Life insurance gives security for you and your family. The life insurance may be permanent insurance or term insurance. The term insurance is somewhat expensive and complicated. Since the duration of this term insurance is limited to 1 to 10 or 20 years. If something happens to the insurer during this course of time, the death benefit is given to the recipient. If nothing happens at the end of term, they will not be benefited fully. Whereas the permanent life insurance is more secure and gives protection throughout the lifetime. If you cancel the policy then the accumulated cash will be yours and you can make use of it.

Health Insurance
Health insurance is a type of insurance, which covers medical costs of the insured when the insurer becomes sick or injured. Health insurance plans offered in two categories. They are individual and group insurance policy. The individual plans covers health costs for a single person whereas the group health insurance plan covers medical coverage for the entire family.

Dental Insurance
Like health insurance, dental insurance covers dental costs for an individual or group. The costs include normal dental care cost as well as damage to teeth in an accident. Most people in the United States are getting along with their health insurance plans from their employer. Whatever may be the type of policy, it provides you a financial aid for you and your child in future. Dental insurance covers both individual and group. The group dental is more economical and beneficial than the individual.

Automobile insurance
The insurance which legal liability against driver or incase of loss and damage to the vehicle.

Property insurance
Property insurance gives protection against your property. This includes specialized forms of insurance like fire insurance, flood insurance, earthquake insurance, home insurance etc.

Need for Insurance
For secure life, we require insurance plans. Because anything may happen tomorrow, the things are unpredictable. Insurance makes you to prepare for future. The health insurance plans are provided to in order to meet the expense of any health problem.Now a day's health and dental coverage for an individual/family becomes more expensive. So it is advisable to have a health insurance plan. You can get reasonable price on your individual health and dental plan through an employer.

Whatever may be the insurance plans it provides "protection against future loss".

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Homeowners Insurance

What is Homeowners Insurance?

Homeowners Insurance provides you with the coverage in case of a disaster. In the event of a disaster your homeowners insurance will provide you with financial protection. A homeowners insurance policy insures the home in which you live along with the possessions you keep in it.

Home Insurance is a Package Policy

Homeowners insurance is purchased in a package policy. A package policy means that it covers both damage to your property and your liability or legal responsibility for any injuries and property damage you or a member of your household cause to other people. Homeowners insurance also covers damage caused by household pets.

A homeowner's insurance policy covers most disasters, however there are some exceptions such as floods, earthquakes and poor maintenance (Also known as wear and tear). If you want coverage for floods or earthquakes, you will have to purchase separate policies. However, maintenance related problems are the homeowner's responsibility to take care of. In fact, keeping up with the maintenance of your home will help to reduce the likelihood of a loss in the future. A good example of this is the replacement of a roof that is showing signs of wear.

Overall it is very important to have homeowners insurance coverage that suits your specific needs. You never know when a loss is going to occur and you are going to need the money to fix it. Take Hurricane Katrina for example; there were many of people that were without homes because they didn't have flood insurance. That is why it is very important that you get the proper coverage.

Remember that standard homeowner's policies do not cover flooding so you will have to purchase that separate through your homeowner's insurance agent. Discuss all of the possible exposures with your agent, broker, or insurance company.

Replacement Cost

Replacement cost coverage is available for the structure of your home; This allows you to repair the home to the state that it was before the damage took place. Actual cash value coverage is replacement cost less depreciation. The older your possessions are, the less you will recover from the homeowners insurance company.

Renters Insurance

Not only is insurance coverage available for homeowners it is also available for the people who rent apartments or houses. If you rent a house and you have a renters insurance policy, you will be covered in the event of a loss. The coverage for a renter is relatively inexpensive and will cover your property, your liability, and loss of use of the home due to a covered loss.

Coverage Types

The standard homeowner's insurance policy includes four different types of coverage.

1. The coverage for the structure of your home is offered by the homeowner's insurance company. This means that they will repair or rebuild your home in the event of a covered loss.
2. The coverage for your personal belongings that you have in your home is also covered by the homeowner's insurance company. This means in the event of a claim that is covered by your insurance policy, your personal belongings will be able to be replaced. Note: It is a good idea to carry replacement cost coverage for your contents. This way, your items are not depreciated if there is a loss. With replacement cost coverage, your property can be replaced with items of like kind and quality.
3. Liability protection covers you in case of a law suit against bodily injury or property damage that you are your family members caused to another party.
4. Additional living expenses if you are temporarily unable to live in your home because of an insured disaster.

There can be more to a home insurance policy and there are limitations for certain types of property. It is best to discuss these options with a representative at the time your are applying for coverage.

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Consider Travel Insurance When Traveling Abroad

If you're planning to go on a holiday or on a business trip, travel insurance is a good idea. There are many flexible insurance schemes available from different insurers for people who travel for different reasons. The insurance policy can also be extended depending upon your period of stay. You can apply for insurance online so that it ensures quick processing and quick supply of quotes. This can help you compare and customise it according to your needs.

Travelling is fun but it also involves so many unforeseen circumstances when you're exposed to new situations, in terms of change in your environment. With travel insurance, you would not have to worry about availing to medical services, in case you fall sick while traveling or while in transit in a foreign place. If you're ensured, it can be of great help to manage your health and safety in a foreign country, in case anything goes wrong. You can include here any natural calamity that could affect your health.

Whether you are on a holiday trip or on a business trip, a thoughtful act of protecting yourself with insurance coverage can help you get medical attention in a convenient manner, whenever you need it. However, since Travel Insurance can include different forms of packages and quotes, it is necessary to go through the insurance document carefully at the time of deciding on the policy. All the exclusions and unexpected clauses should be carefully considered and taken note of, to avoid any confusion later on. A reliable broker can give you good advice what all to look out for while going for this insurance. This can help you save a lot of your own valuable time.

So the next time you eagerly look forward to a trip, consider travel insurance to proceed with a peace of mind that even in the worst scenario, you can avail to any medical assistance while abroad.

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Getting cheap auto insurance - a handy manual

The first question that needs to be answered is - Is it even possible to get cheap car insurance? The answer is yes! The car insurance industry, like most, is riddled with technical exceptions, as well as widely varying products. If you understand the nuances of the industry you will be able to quickly and significantly lower the rate you pay for car insurance. Here are a few guiding principles on how you can alter your coverage amounts so that the car insurance ultimately works out ‘cheap' for you.

First, you need to know the types of coverage that your insurance policy must or may include. These may change from one state to another. A list of most popular ones is given here.

Liability - This is a mandatory coverage that protects you when you are at fault in an accident. It pays for what damage you do to other people's car or property, their medical bills as well as any ‘pain and suffering' arising from the accident. Here ‘cheap' would be mean that you buy only the minimum coverage dictated by the law of your state. For Instance New York requires a minimum liability of $25,000 for one person injured in the other car, $50,000 for all parties injured in the other car, and $10,000 car or property damage due to an accident.

Comprehensive - This coverage cover you if your car gets damaged by anything other than collision like, fire, vandalism, theft or even by animal hit on the highway. Again you can lower or eliminate this coverage and in so doing reduce your car insurance bill.
Personal Injury Protection - This pays your and your passengers' hospital bills. This amount can be higher or lower depending on coverage limit and deductible.
Uninsured and Underinsured Driver - If the other driver in the other car is either underinsured or even uninsured, your own car insurance can pay for damages done to you, your passengers, and your car. This amount again can vary according to the area where you live or the localities where you drive.

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