The availability of home DNA-testing kits has resulted in many unanswered questions about life insurance.
One of the biggest mistakes people make in planning their health and life coverage is assuming they'll never need long-term care services, or that if they do need these services, they will pay for them with their savings.
And many people shy away from long-term care insurance because they worry about premium hikes or the fact that if they don't use the coverage, they never benefit from their premium payments. But now there is a policy that melds long-term care insurance with life insurance.
While life insurance may seem confusing and is not a topic people want to address, it is important to have life insurance and to pick the right type of policy. There are different options, and the right option for one person may not necessarily be the right option for another person. Each one has advantages and disadvantages.
As natural disasters continue to increase in number and severity, and insurers pay out record amounts of claims for damaged homes in many parts of the country, homeowner's insurance rates are on the rise.
In recent years, that's prompted some homeowners to hunt for the lowest possible premium they can find, but that can end up costing them more than they expected.
Shopping for insurance based on price alone can have a number of consequences:
Insurers are experimenting with new technology that tracks how many miles you drive, your driving patterns and other nuances in how you drive, in order to price policies and offer discounts.
As part of the process, insurers will typically require that policyholders download an app that will use the phone's GPS system and location-tracking to generate a picture of how the policyholder drives.
Many of these apps will rate your driving and good drivers can earn discounts and rewards for safe driving, based on the data collected by the app.
With homeowner's insurance rates on the rise, you may be looking for ways to reduce your annual premium without skimping on coverage. After all, a large portion of your net worth resides in the same place as you do.
But there are a number of strategies you can use to chip away at your overall annual premium.
When you have business insurance policies you will often hear the terms “insurance binder” and “certificate of insurance,” but do you know the difference?
A binder is a contract of insurance. It's called a binder because it "binds" your coverage and creates an insurance contract and is used temporarily until the policy is issued.
A certificate of insurance is a form of proof of insurance warranting that you have coverage for a specific period.
Having a medical condition doesn't automatically disqualify you from buying life insurance. While finding coverage can be more difficult than it is for others, individuals with challenging medical histories and even severe conditions can usually find at least some coverage.
Wearable medical devices such as the Fitbit are making increasing inroads into all aspects of life. Corporate wellness programs are embracing them as a way to encourage activity. In some cases, incentives may be provided to employees who meet certain activity and other health targets.
Insurance companies are also getting more interested in collecting biometric data from customers via wearable medical devices and other forms of monitoring. For example, John Hancock now offers "interactive" life insurance policies, under which customers can submit to optional fitness and activity tracking via wearable devices and smartphones.
Injuries due to slips and falls are one of the most frequently reported workers’ compensation claims. While these accidents can happen anywhere, any time, they typically spike during the winter months. According to the U.S. Bureau of Labor Statistics, over 20,000 workplace injuries due to falls from snow, sleet, and ice occurred in 2016. Of those, 28 percent resulted in more than a month off of work.
Employees and visitors alike are at risk, but with a proactive safety plan, slips and falls can be prevented.
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