Life insurance protects your family or business from financial risk in the event of premature death. Financial risks covered may include burial expenses, debts owed, loss of family income and business profits. Annuity is a guaranteed income for the life of the one covered. This coverage is designed to protect you from running out of financial resources due to living too long. Continue Reading »

Coinsurance is a concept often used in health insurance plans. When selecting the common 20/80 coinsurance on a policy, this basically means the insurer would pay 80% and the insured will pay 20% of the health expense once the deductible has been paid. Continue Reading »

The most important part of your homeowner policy is your “dwelling” coverage. If your home suffers damage or a total loss your policy must have the proper limits to ensure your home is repaired or rebuilt.

BEING UNDER INSURED

Over the past ten years in Arizona and California there have been several major forest fires that have destroyed dozens and dozens of homes. Unfortunately some of these homeowners discovered that their homes were under insured.
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The definition of a peril is, “the cause of a potential loss”.
The definition of a hazrd hazard is, “the condition  which increases the risk or seriousness of a loss”.

There are four types of hazards known to the insurance professional.

Physical hazards are the first which include hazards which arise from structural or operational features of the situation.  For example a slippery floor or a huge tree branch in the middle of the road would be classified as a physical hazard.
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The discounts you may encounter on any insurance policy varies from company to company. For example, some auto carriers offer a discount if your teen driver has a 3.0 grade average. Some carriers could care less what grade your child has. Ultimately, the bottom line is the premium being offered. If one carrier does not offer a good student discount but is less in premium than the one offering the discount, it still is a matter of finding the best price with a good company.
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Ask any insurance agent what career they imagined when they were younger and the odds are great they did not have insurance agent on the list. No, it probably was not even on the radar.

Yet, somehow thousands of people choose the insurance career every year. Some choose to sell life insurance or mutual funds and others opt to work in the auto and homeowner insurance arena. Some individuals work for the large national carriers while others go into business for themselves as an independent agent.

The national insurance companies often seek to hire those who are newly graduated from college. Most corporations of all types seek those with a new degree, including the insurance recruiters. But the insurance field is also littered with agents of all ages. It is not a field reserved only for the young. Continue Reading »