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Global Warming: Why Consumers and Insurers Are Getting Hot Under the Collar Over Life Insurance.
Global warming may have been lurking on our horizon for a number of years and historical records of terrorists have existed for thousands of years, but we are coming into a new age where we try and financially protect ourselves against such problems and if we're honest ? we're struggling.
The recent terrorism attacks in London brought home the fragility of human life to many Brits, who had previously been able to distance themselves from terrorist activity. For the partners and offspring of city workers, the fragility of their finances also became apparent with the potential loss of a loved one alongside the loss of future income and possibly the family home.
It is widely agreed that most life insurance policies should cover acts of terrorism, though most websites (including the Association of British Insurers) do state that you should always, always read the small print, as there may be insurer-specific exemption clauses. It will be interesting to see what effect terrorism has on life insurance applications and whether there's a rise in consumer interest as a result of terrorist attacks.
Certainly the indication so far is that life insurance applications will be treated quickly and sympathetically in the event of a terrorist attack, reiterated by the Association of British Insurers (ABI) and Ginger Applegarth of MSN Money who stated that for insurers "to back out of paying a claim now would be considered unpatriotic and a marketing disaster." In Applegarth's column, she includes an "insurance checklist" of the very basics that you have to do when making a life insurance claim. She also states that insurers paid out almost $3 billion after the September 11 attacks in 2001.
It isn't just your life insurance that can encompass a terrorism related clause. Travel insurance and property insurance can also contain terrorism related options. The website abi.org.uk states clearly that "household, buildings and contents policies include damage by fire, explosion or impact, whether caused accidentally, through the malicious act of an individual criminal or in an act of terrorism." The costs and extent of cover will vary, so shop around and read the terms and conditions very carefully.
Contamination cover is singled out by ABI as a contentious issue and apparently has been a standard exclusion on household policies since the 1960s, due the potential scale of claims, as many homes could be affected by a single incident.
Cover against terrorism is also available for businesses, typically as an extension to property cover. Commercial property terrorism cover is typically allocated on an "All Risk" capacity, encompassing biological, chemical, radiological and nuclear contamination, as well as interruption to the business. Commercial property cover does not include electronic or internet related risks or hoaxes.
Other life insurance exemptions may include lifelong illnesses such as diabetes and epilepsy. Lifestyle habits such as smoking may or may not invalidate a life insurance application, but they will make it more expensive. Always get your medical records assembled before you apply for life insurance, as this will save time and possibly money as well. Once this information is assembled, you can begin assembling some personal quotes through life insurance comparison sites such moneynet ( http://www.moneynet.co.uk/insurance/life-assurance/index.shtml ) or UpMyStreet ( http://www.upmystreet.com/UK/home-insurance/l/ ).
Rachel is a straight talking little lady who lives in the Scottish hills.
Rachel also writes for the personal finance blog Cashzilla: a wee bit of banter on finance related issues.
Underinsurance Can Spell Disaster For Homeowners
Insurance is meant to give homeowners peace of mind, but an increasing number of policy holders are putting themselves at risk by neglecting to insure their home and contents adequately.There is often confusion over the difference between guaranteed and extended replacement value insurance.
Internet Insurance Leads
It is a fact that more and more people everyday use the Internet to get insurance coverage. The number of online customers is massive compared to "traditional" business, and it is increasing day after day.
Young Driver Car Insurance
It has become increasingly difficult to get young driver car insurance in the UK. The reason behind this is because the statistics for young drivers having a car accident are not very good.
Are You Running the Risk of an Uninsured Business? Beware & Get Business Insurance
Human life is precarious and so are the activities they indulge in. So it is not just the human life that needs to be protected but the work that he does - his business etc.
Insurance Claim - Medical Insights And Expenses
There's nothing that has a greater impact on evaluating a personal injury insurance claim than the damage done to your body, the medical bills that are a direct result of that injury and the "pain and suffering" you were forced to deal with.Besides botching up your body (and sometimes your love life) what else does the injury mean to you? It means a ton of financial expense's, including repairing your car, lost wages, a shock to your life style, a tremendous inconvenience and short or long periods of pain and discomfort - - all of it a direct result of your injuries.
Life Insurance No Medical Exam - Is It Really Possible?
Quite often you feel that an ad for life insurance no medical exam is trying to rip you off. However, it is possible to get life insurance no medical exam when you shop online for your life insurance needs.
3 Important Moving Insurance Tips
Because of the many problems that can occur when you hire a moving company to transport your goods, the moving companies are required some basic insurance of your goods. Even with this basic insurance, purchasing additional coverage might be needed.
Finding Life Insurance Quotes For Adult Children
Shopping for life insurance quotes for adult children isn't any different than it is for adults or seniors. Underwriting issues can vary a little but essentially life insurance quotes for adult children follows the same routine.
An Intro To Life Insurance
There are many options available for life insurance, and for most people these options can be somewhat confusing. Below is a brief review of each type and some advantages and disadvantages of each.
Car Insurance Gearing up to Drive Down Costs
For once finances seem to be going in favour of the UK motorist, with Esure announcing plans to double its share of the UK's car insurance market - a move which is likely to spark a price war, other internet-only direct insurers passing on to consumers savings based on their low overheads, and specialist insurers offering reduced rates for their particular target markets. A trial pay-as-you-go scheme from Norwich Union is also creating a lot of interest for money conscious motorists.
Insurance Providers Weather the Storm While Consumers Flounder
We have just had the first year's anniversary of the flash flooding which occurred at Boscastle in Cornwall. The floods saw some of the worst damage wrought by sudden rainfall in the UK for many years.
What Answers To Questions For A Home Insurance Price Quote Will I Need To Know?
Lets face it, finding the best home insurance price quote can be an aggravating task if you're not fully prepared with answers to the common questions that most insurance companies will ask. This article outlines the questions that an insurance agent will ask you when you're requesting quotes for home insurance.
Auto Insurance Rates
Auto insurance rates will vary depending on the insurance agency, your driving record, and the type of insurance you are looking to purchase. I you are looking for affordable car insurance or truck insurance then read on.
Do You Know What The 7 Home Insurance Plans Are?
Most people don't realize that there are 7 different homeowners insurance plans that insurance companies can offer. Each plan is different from the other 6 based on the circumstances that it covers.
Why Boat Insurance Is A Necessity
Boat insurance is necessary for all boat owners who live on or really value their boats. If it is something that you feel you must replace then you need to insure it.
Accidents, personal injuries and insurance claims are here to stay. No matter how far into the 21st Century American's elect to drive (unless by the beginning of the 22nd Century we're all zipping around in our own personal space ship) motor vehicle accidents will continue to pile up; with no end in sight!There are more than 200,000,000 licensed drivers in the United States.
Disaster Decision - Do You Need Insurance?
The expenses involved with owning a home can be overwhelming at times - routine maintenance, repairs, seasonal preparations, improvements. Not to mention taxes, fees, and all those monthly bills.
Health Savings Account (HSA): Useful for Women in Childbearing Years?
The Health Savings Account (HSA) is an amazing tool that a lot of people have been talking about. It is meant to help you save money on insurance and make your life simpler, maybe even help you be healthier.
Who Sets Auto Insurance Rates?
Auto Insurance rates are a complicated business. Have you ever wondered who sets your auto insurance rates and how the rates are actually derived?Many factors determine how much you will pay.
Independent Insurance Agents Unite! Insurance and Financial Discussion Forums are all the Rage
The online discussion forum has emerged as the medium of choice for many Americans. Most recently, forum platforms like vBulletin, Infopop, and Snitz have enabled the novice webmaster to host and moderate their own forum.
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