Another potential risk is that the insurance company providing insurance coverages may fail. Unlike banks, which are federally insured, there is no government backing to insurance policy guarantees. If the auto insurance company becomes insolvent, the amount you eventually receive might be less than you think. When deciding where to invest your premium cost dollars, (more…)

How soon you receive benefit payments varies widely with the kind of insurance, the kind of loss, and the laws of the state where you live. For example, insurance companies usually wait at least 30 days before paying out for a stolen car in the hopes that the car will turn up. Life insurance claims can only be paid after the company receives an official death certificate. (more…)

For most of us, our house is our largest asset. We expect to pass this inheritance along to our children. In some cases, you can keep your house and still have long-term care insurance plan; but more often, you may need to use the real estate equity you’ve accumulated through your lifetime to pay for your very old age. (more…)

Now that you know why insurance companies do what they do, it’s time to take a look at some of the language you’ll need to understand some insurance vocabulary terms before delving into your actual coverage. These are the tools in the well-supplied tool belt you’ll wear while you build your insurance structure. (more…)

During the 1980s, there was a term price war and every year companies offered lower priced products. Insurance agents would sell company A’s policy one year; the next year they’d come back to the same client offering Company B’s policy at better rates. Agents encouraged this churning because they received a new first year commission every time they sold a new policy. (more…)