The importance of life insurance drives many people to wonder where to buy it. There are several options when shopping for a life insurance policy. A person can get the coverage they want from local brokers, life insurance companies or directly through the internet.
A thorough amount of research is necessary to find the best deals and cheapest rates. Life insurers employ many sales people, who help the customers select the appropriate life insurance plans. Contacting these salespeople through telephone, e-mail or personally can be one to buy coverage.
However, before choosing a place to shop for life insurance policies, ensure that the organization is sanctioned by your state's department of insurance and better business bureau.
The best place to get all the necessary information is the internet. Online shopping is the simplest and most reliable way to buy a life insurance policy. You can find information and get quotes quickly and accurately, online. Many, many companies are included in online industry directories. These can also help you to study, compare, and buy a suitable life insurance policy for your situation.
Buying Life Insurance Online:
The internet provides a number of sites where you can search for relevant information on where to buy life insurance plans. These sites offer ratings and policy details of the top life insurers. These companies work with similar fundamentals and provide life coverage policies to meet the needs of customers. However, they differ in their coverage tactics, exemptions and terms.
For example, Metropolitan Life Insurance Company, Transamerica Occidental Insurance Company, American General Insurance Company, CIGNA and Aetna are some of the recognizable and famous names among life insurers accessible on the internet.
These companies easily handle all types of life insurance policies. The individual sites of these companies provide ratings and life insurance information. A customer should go to all these sites to compare and find out the cheapest plan with all necessary coverage, before making the purchase.
Metropolitan Life Insurance Company offers specific service features, trouble-free policy management, and reliable procedures. They propose the finest solution and service in case of monetary planning. MetLife offers services in Asia and Europe and serves customers as a part of Reinsurance Group of America.
American General insurance Company (AIG) is a universal leader in economical service that deals with insurance, retreat planning and savings. The insurance company covers the service internationally all over Asia, North America, Europe, and Latin America. AIG provides 75% reduction on life insurance policies at an affordable rate. Online quotes make a shopping less time consuming and infinitely faster.
Transamerica Occidental Life Insurance also handle affordable life insurance polices including term, whole and universal plans. CIGNA and Aetna are other online companies that provide life insurance policies at cheaper rates.
Conclusion:
There are certain online life insurance sites that help people to buy their policies. With the help of these sites, you can get a solution to the question, where to buy the life insurance. The websites listed below can get you started in the right direction. Moreover, they will compare quotes from all the major life insurers listed above.
Monday, March 31, 2008
Software for General Insurance
A good general insurance software package should improve the efficiency and profitability of insurance agencies by providing easy to learn systems at affordable prices. A few companies who provide such packages include:
QualCorp’s FormsPlus – a cutting-edge policy issuance and administration software solution that deals with all personal and commercial lines of insurance. The package includes ProjectPlus, a workflow administration and imaging solution and QueryPlus, a reporting tool that reads every database you operate on your LAN/WAN simultaneously and in real time.
INSolve manufactures the INSolve Policy Administration Suite (IPAS) that features a fully customizable web-based solution. IPAS will track suspense items, save applications as drafts, and perform customer account clearance. It has an automated quoting process, and policies are produced with all endorsement and exclusion forms with a built-in policy issuance engine.
Sapiens International offers the INSIGHT software program that
Includes life, health, property & casualty, and reinsurance policy administration and an expert underwriting system. It reduces the cost of doing business through automation and reduces risk selection through the use of rules based underwriting.
Insurance Systems has a comprehensive software solution to run your Property & Casualty insurance company called WebWriter BackOffice. This product combines ease of use with powerful features offering the most complete insurance program on the market.
WebPlus Software has LiveLink that electronically transmits a broker's entire package to you, handles all messages sent back and forth and sends the final quote back to the broker within seconds. Your company’s specific and ACORD forms are fill-able by the online broker using free software.
QualCorp’s FormsPlus – a cutting-edge policy issuance and administration software solution that deals with all personal and commercial lines of insurance. The package includes ProjectPlus, a workflow administration and imaging solution and QueryPlus, a reporting tool that reads every database you operate on your LAN/WAN simultaneously and in real time.
INSolve manufactures the INSolve Policy Administration Suite (IPAS) that features a fully customizable web-based solution. IPAS will track suspense items, save applications as drafts, and perform customer account clearance. It has an automated quoting process, and policies are produced with all endorsement and exclusion forms with a built-in policy issuance engine.
Sapiens International offers the INSIGHT software program that
Includes life, health, property & casualty, and reinsurance policy administration and an expert underwriting system. It reduces the cost of doing business through automation and reduces risk selection through the use of rules based underwriting.
Insurance Systems has a comprehensive software solution to run your Property & Casualty insurance company called WebWriter BackOffice. This product combines ease of use with powerful features offering the most complete insurance program on the market.
WebPlus Software has LiveLink that electronically transmits a broker's entire package to you, handles all messages sent back and forth and sends the final quote back to the broker within seconds. Your company’s specific and ACORD forms are fill-able by the online broker using free software.
Saturday, March 15, 2008
General Insurance In Modern World
Who can live in the modern world without insurance? People insure anything and everything nowadays to feel secure about their possessions in this risk-filled world. And so insurance companies have become part and parcel of life today.
An insurance company is an organization that sells insurance policies and assures security for the client or administrator. Insurance companies are in the business of providing financial protection against risks involved in property, houses and health. They make profits from the premiums paid by their clients. This money is technically termed "float," and the success of an insurance company will depend on the success of its floats. If the floats are successful, the company will profit even if it pays back the entire amount it has received in premium.
Even when insurance companies pay out more money in claims that they actually receive in premiums, as most companies do, they still make profit by investing the money at a larger return than their cost of float.
Traditional insurance companies were mutual or stock companies, depending on the ownership of the company: policyholders and stockholders, respectively. But mutual insurance companies are very rare now, and so we can go into a more practical classification. Insurance companies can be classified as mainly Life Insurance companies and General Insurance companies, dealing in life insurance and property and auto insurance, respectively. They differ in their functions and services because life and related insurance policies are taken out for long periods of time, whereas general insurance policies cover short periods of 1 to 5 years. There are companies that sell both life and general insurance also.
Insurance companies are rated by financial rating services like A. M Best, Standard & Poor, Fitch and Diamond Bond. If you buy policies from a company that comes in the top four in any of these ratings, you can consider your insurance to be in safe hands.
An insurance company is an organization that sells insurance policies and assures security for the client or administrator. Insurance companies are in the business of providing financial protection against risks involved in property, houses and health. They make profits from the premiums paid by their clients. This money is technically termed "float," and the success of an insurance company will depend on the success of its floats. If the floats are successful, the company will profit even if it pays back the entire amount it has received in premium.
Even when insurance companies pay out more money in claims that they actually receive in premiums, as most companies do, they still make profit by investing the money at a larger return than their cost of float.
Traditional insurance companies were mutual or stock companies, depending on the ownership of the company: policyholders and stockholders, respectively. But mutual insurance companies are very rare now, and so we can go into a more practical classification. Insurance companies can be classified as mainly Life Insurance companies and General Insurance companies, dealing in life insurance and property and auto insurance, respectively. They differ in their functions and services because life and related insurance policies are taken out for long periods of time, whereas general insurance policies cover short periods of 1 to 5 years. There are companies that sell both life and general insurance also.
Insurance companies are rated by financial rating services like A. M Best, Standard & Poor, Fitch and Diamond Bond. If you buy policies from a company that comes in the top four in any of these ratings, you can consider your insurance to be in safe hands.
Contarctors Liability For General Insurance Schemes
Normally, it is difficult for general contractors to work without general insurance. General contractor liability insurance is intended to guard operators and owners of companies from claims that may come from a broad spectrum of sources. These exposures could be just about anything, including liability engendered by accidents from the operations of the insured party, contractual liability, products manufactured by the insured party, etc.
The liability you select, whether it is one, two, or three million dollars, determines the cost of general contractor liability insurance. Also factored into the rates the rates are the kind of work undertaken, gross receipts and total payroll expenses. Similar to auto insurance, when it comes to general contractor liability insurance, you will first have to make a down payment and then follow it up with installments. Before buying general contractor liability insurance, it is best to compare the quotes available in the market.
It is the general contractor’s job to make sure that the people working under him are covered by an insurance policy. If for example, a person who is not a part of the project gets injured, the injured person’s lawyer can target just about anyone involved in the project. The more individuals that are involved, the greater the chances of a successful lawsuit.
The General Contractor will have to make sure that all his subcontractors have general liability insurance. If they have the necessary insurance the liability exposure, and the insurance rate, is distinctly reduced. Generally, the subcontractor is not considered an employee; he is an independent worker. So, the contractor is not liable for his subcontractor’s mistakes. Still, a lawyer worth his salt can find ways to charge anybody working on the project with negligence. Thus, liability insurance for everyone becomes imperative.
The liability you select, whether it is one, two, or three million dollars, determines the cost of general contractor liability insurance. Also factored into the rates the rates are the kind of work undertaken, gross receipts and total payroll expenses. Similar to auto insurance, when it comes to general contractor liability insurance, you will first have to make a down payment and then follow it up with installments. Before buying general contractor liability insurance, it is best to compare the quotes available in the market.
It is the general contractor’s job to make sure that the people working under him are covered by an insurance policy. If for example, a person who is not a part of the project gets injured, the injured person’s lawyer can target just about anyone involved in the project. The more individuals that are involved, the greater the chances of a successful lawsuit.
The General Contractor will have to make sure that all his subcontractors have general liability insurance. If they have the necessary insurance the liability exposure, and the insurance rate, is distinctly reduced. Generally, the subcontractor is not considered an employee; he is an independent worker. So, the contractor is not liable for his subcontractor’s mistakes. Still, a lawyer worth his salt can find ways to charge anybody working on the project with negligence. Thus, liability insurance for everyone becomes imperative.
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