Insurance

What is an Annuity Contract?

An Annuity Contract is a type of investment or financial product in which the investor or purchaser is expected to receive a certain amount of returns or profit in a future date. Any person or company can avail of this product, most especially people nearing retirement. Like any contract, an investor is bound to pay a certain amount over a period of time and expect a payback period for the investment. Depending on the kind of Annuity Contract, a guaranteed income or a risk of variable income or loss are associated with the investment.

Annuity Contract
Always be careful when signing contracts

 Kinds of Annuity Contract

A long term investment of Annuity Contract is called deferred annuity. In deferred annuity, the investor or company pays the purchase price and the repayment of income begins after the year of retirement. The investor or purchaser can either take the amount in lump sum or over a longer period. A predetermined annual yield is paid back over a period of time, this is called fixed rate of deferred annuity. The other type is variable rate, wherein the basis of pay increment is the performance of the investment.

How to go About Investing in Annuity Contract and the Benefit it will yield

Like any investment, there are benefits and risks involved. Depending on the type of annuity contract being purchased, there will be risks and benefits play. For those who love to play the investment game, the greater the risk of investment, the greater the yield or increment of investment involved as well as the risk of loss. But for those who prefer not take the risk and stick with the predetermined increment of investment, that could be a particular choice as well.

Reaching the retirement age is the best time to invest in annuity contract, since people reaching the age of 50 would have full understanding of financial processes and the money to invest. There listings of insurance companies that offer this product. Being unsure of the company to invest is common; in order to make things easy, an agent can handle the insurance need. The beneficiary must be taken into consideration as well since the future is unpredictable.

And lastly, whether the agent has full knowledge or has good arrangement for your annuity contract investment, it always pays to check and verify other companies so that a comparison can be made.

Car Insurance

After college or before it many people start to find themselves owning their first car. Something that many people have trouble deciding is what insurance they need for their car. It is important to consider a few things while buying insurance. The amount of coverage you are required to have, the amount of coverage you actually want, and what company fits your needs best.

Car Insurance
Don’t even ask what car insurance on a car like this is!

By law you are required to at least have a minimum of coverage and car insurance to legally drive a vehicle. The coverage varies by state and it is important to look at what your state requires for a minimum of insurance coverage. This is meant to protect all people on the road.

You may indeed want to buy more coverage than is required and this may be the best thing for you to do. Minimum coverage does mean minimum cost, but it also means minimum protection. Some minimum coverage’s might not protect your car or you well enough. It is important to look at different coverage plans and determine which things you want covered such as personal liability coverage, which helps to protect you from lawsuits in case of an accident.

It is also important to shop around and get quotes from different companies, and to always checkout reviews about the companies you get quotes from. If you get the exact same coverage from one company for a cheaper price than it would be from another, than it is probably a good idea to choose them.

 

The Options for the Uninsured are Growing

Everyone gets sick at one time or another and oftentimes there is too little time to be prepared; especially if you find yourself between jobs, unable to afford the premiums for health insurance coverage or are disqualified because of pre-existing conditions.

There are several options you may pursue:

The Feds Do Care

1. The US Department of Health and Human Services operates many health centers nationwide that provides care for you and your family. This professional care is offered on a pay-what-you-can-afford basis and is often linked to your income. Services include general checkups in cases where there are obvious changes to your health. Treatment is available when there is a positive diagnosis of illness. Mothers-to-be will also receive full care for pregnancy including any special emergency and unusual procedures that might be required. Children will receive their immunizations as well as their routine check-ups to maintain their health. Dental care is also provided for the entire family as well as assistance with prescription drugs. Many families also find themselves in a position requiring mental care or counseling for substance abuse and this is provided by many of the federally-funded health centers. These services are accessible online with the only requirement being to visit the US Department of Health website and type in your zip code to find the nearest health center to you. You will find that centers are both in cities and rural towns and are strategically placed to ensure wide assess to people who need their services.

Not Sure If You Are Sick?

2. There are also many websites online that provide free medical advice if you’re not sure whether you’re in need of medical care. Whilst, one should be wary about depending on information provided online because of physical limitations, meaningful research can save time and unnecessary financial headaches. Many online services offer background information on visible symptoms to help you understand the possible causes of certain illnesses.

Use a Payment Plan…Pay Directly

3. In cases where there might be some resources available, you may want to visit a doctor and pay directly for medical services received. Many hospitals may consider putting you on a payment plan where you can pay a monthly amount over a period time to cover expenses. It is useful to investigate prior to a medical emergency, those services, offices and hospitals that allow a payment plan for those patients without insurance. Plan ahead for medical emergencies.

Walk Into a Clinic

4. There are low cost clinics available that will offer the best “bang for your buck” located in pharmacies, drug stores and convenient stores. These clinics offer affordable family packages that are designed as an alternative to full-service medical centers. Do the required research, because there are many customized services popping up all over the country to cater to the uninsured patient.

What is a Living Will

Imagine a man who was in a serious accident with injuries so severe that he was being kept alive by a respirator and a feeding tube. His family has been at his bedside for weeks with no response from him and prospects for his recovery are grave at best. His family and doctors are helpless to do anything but wait because he can not speak for himself and let them know that he would rather they pull the plug and let him go peacefully than to exist like this. This situation could have been prevented if this man had a living will.

living will
Always be careful when signing important documents!

A living will is a legal document that lets a person inform their family and doctors of his/her wishes regarding life-sustaining procedures in the event that they are incapacitated or rendered permanently unconscious. People don’t really expect this to happen to them, but the fact is that it happens all the time. Most people don’t want their family to be burdened with the choice about “pulling the plug”, and in some states, if there is no living will stating a person’s wishes, the doctors are not permitted to discontinue life-support. For this reason, it is important for everyone to draw up a living will.

Because laws surrounding living wills vary from state to state, it is advisable to seek out the help of an attorney who specializes in estate planning. A lawyer can answer all questions and make appropriate recommendations as to what documents should be set up and whether a Medical Power of Attorney should be named. (A Medical Power of Attorney is a person who will make medical decisions on someone’s behalf if they are incapacitated, but their medical condition is non-life threatening.)

The living will contains a list of directives for doctors and family to follow relating to resuscitation, life support, breathing tubes and feeding tubes. The person writing a living will has the right to decide how they want their medical care to be handled in all of these situations and others not mentioned in the scope of this article. The decisions made in the living will are not automatically acted upon in any life threatening situation. A heart attack, for example, is life threatening, but the prospects for recovery are good after a heart attack, so medical personnel will resuscitate and do anything possible to revive the person. The living will usually comes into play for a person with either a terminal illness or someone who has been declared permanently unconscious with no prospects of recovery.

After a person takes the steps to set up a living will, the most important thing to do is make their doctors and family aware of the document. It can be a difficult discussion to have, especially with family members, but the living will only works if the right people know it exists. After the document has been completed, copies of it should be provided to the family doctor and immediate family members so that they can carry out its directives.

 

Should I Buy Pet Insurance?

The question of pet-insurance and whether it is necessary might seem like a moot one if you have never head to take care of a pet. However, if you do love pets, and have ever had to actually take care of one, you will know something about the cost of treating them when they do fall sick or are injured: it’s high.

Pet Insurance

It can be as high as human treatment and even higher in some cases, because, let’s face it, not that much research has gone into looking after pet health (not as much as has gone into human health for example) and therefore good pet health care is hard to come by, and the harder it is to come by, the more expensive it will tend to be. Simple things like stitches on a dog’s paw or even managing a persistent worm problem can be quite costly.

Added to this is the fact that veterinary medicine is employing increasingly expensive methods of treatment, from x-rays to monitoring equipment for organ performance and things of that nature.

It is with this in mind that pet insurance starts to sound like a good idea. Pet insurance differs from human health insurance in one important aspect: it is rather more similar to property insurance, in particular, motor vehicle insurance.

Pet insurance is relatively new in the United States, with the first one being issued in the United States and instigated by the risk incurred when using animals for important roles on Hollywood. Sweden and Britain respectively, lead the world in terms of percentages of pets that have pet health insurance.

Policies can differ in several aspects. You can have lifetime and non-life time variations, with lifetime variations covering a condition that the pet has for it’s lifetime, literally, while non-lifetime insurance cannot be renewed when the policy is being renewed annually.

Pet insurance can also include third-party liability insurance, so that if for example a pet is a direct cause of a car accident or injury to an individual, the owner of the pet is insured from covering costs incurred; these would be covered by the insurer.

As mentioned earlier, these aspects of pet insurance as well as others vary from country to country and also vary according to the insurance company providing the cover. Some of these variations include dental care, preventive cover like vaccination, prescription drugs, tail clipping (in the case of certain dogs and cats) and neutering.

In the long run, of course, a carefully negotiated policy will save you money. Pet behavior is often unpredictable but knowing that you have a fall back plan can help you save on those sudden costs as well as give you that much-searched for commodity when dealing with a pet: peace of mind.