Insurance offers financial protection against risk, and buying insurance policies has become a normal part of modern life for almost all of us. Although one form or another of insurance has been around for thousands of years, most of the everyday kinds of insurance in common use today are relative newcomers on the historical scene.

Insurance itself can be traced back to the ancient Chinese, around 5000 BC, as a way to protect traders. There are also stories of a more humanistic form of insurance, with neighbors helping neighbors and settlers taking care of each other during difficult periods in history. While that has no monetary value attached to it like our current insurance policies do, we consider that insurance because of the gesture of caring and providing for someone else. What we think of as life insurance didn’t come along until later.

In ancient Rome there were “burial clubs.” Members of these clubs were protected against funeral costs and their survivors were given financial aid. The origins of the burial clubs were religious. The Romans believed that if someone was not given a proper burial, he or she could not find peace in the afterlife. For all but the very rich, burial clubs were essential to finding peace in death, because every proper funeral required a large and often lavish celebration.

Life insurance of the kind we have today dates from the late seventeenth century in England. It was originally intended, like the ancient Chinese traders’ insurance, to protect merchants and traders. The death of one party to a business transaction could cause considerable hurt to the other. This historical form of life insurance protected those who brought goods into the city and those who sold them. Life insurance protected commerce.

The first American life insurance company appeared in 1732 in Charleston, South Carolina, but at its inception, the company only offered fire insurance. Life insurance policies were not offered in the Thirteen Colonies until the 1760’s, but providing them quickly became a big business. After the American Revolution, there were issues with life insurance policies for slaves. One New York insurer supposedly issued 485 policies on the lives of slaves just in two years in the decade of the 1840’s. However, the sale of life insurance on the lives of slaves stopped several years before the 1863 Emancipation Proclamation. The insurance companies, in the North, were ordered by their states to search their records to purge any policies that indirectly supported slavery. There is no record of any such policies being found.

Whichever type of life insurance policy you hold today, one thing for certain is that the history of life insurance has been rich and complex. There is at least one constant, however, that has never changed. Life insurance protects our heirs from whatever life sends their way. Ask any questions to a qualified life insurance agent who can help you find the right life insurance protection for your loved ones. A qualified insurance agent will consider the specifics of your situation and help you find exactly the policy you need.

Source: disability cover

Life insurance is hard to understand, but understanding how the premiums are computed is even harder. Calculating premiums is not as straightforward as calculating premiums for other kinds of risk. Your life insurance rates are based on your health at the time you buy the policy, and that risk assessment is made by a physician. If you are not in top shape, or if you indulge in risky behaviors, the insurance company expects to pay out more benefits than if you were healthy and did not put your health at risk. That is why a physical exam is usually required before a company issues a life insurance policy.

Once the results of the exam are, the company will review not only those findings, but also your family’s medical history, your personal driving history, and probably records of your health insurance claims and credit score as well.

In addition to the driving and medical reports, your insurer will ask you to fill out a questionnaire about your lifestyle and health issues. Although it may be tempting to sway the results, be honest as you answer the questions and fill out your medical history. If you are found to have been dishonest anywhere in your application, then the company can refuse to pay benefits in the future. Any insurance company will be able to cancel your life insurance policy if they determine you lied during the application process.

After reviewing all these reports, the company assigns you a score that reflects your risk. That is why the premium you wind up paying may not be even close to the quote the agent gave you when you applied for coverage. If the insurer determines that you are a higher risk level than was originally assumed, your premiums will be higher than your quote.

There are ways to lower your risk. Take good care of yourself. Maintain a healthy weight. Eat well-balanced meals and exercise on a regular basis. If you smoke, stop. Drive safely, and don’t get tickets. Auto crashes will also raise your life insurance premiums, not just your auto insurance premiums. In general, be smart. Don’t take unnecessary risks

The insurance company also considers factors outside your control, like gender and age, in computing your premiums. That is why it is so important for you to do everything possible to improve your health and lower your risk. It’s a good idea to do your research, ask several rounds of questions, and get several quotes before choosing your life insurance policy.

Source: disability cover

Buying a car, especially your first, is the second largest purchase you will ever make following a house. It’s hard to think about it in that manner, because it suddenly raises the flow of your blood and you begin to think about how important your vehicle is to your assets. Is it well protected?

The law requires that every car on the road is insured. Basic insurance or compulsory insurance only covers any other cars for damage and repairs in an accident that is defined as your fault. If your car is also damaged, the costs will come out of your own pocket.

The law requires that every car on the road is insured, which leaves you no choice but to take out compulsory insurance unless you want to get fined or imprisoned heavily for ignoring the insurance. Compulsory insurance only covers the other vehicles involved in the accident if you are the one held responsible for the accident.

Buying a car for the first time is a big step in a man or woman’s life. However it also comes with some risk and more expenses.

Not only will you be paying a lot of car payments and such, but also expenses for repairs and the small chance it might be involved in an accident.

However if you are covered by comprehensive car insurance, the damages are covered by the insurance agency.

That is why car insurance providers heavily recommend comprehensive coverage.

If you are buying your first car, this is especially important. Chances are you are young and somewhat inexperienced as a driver. Comprehensive coverage will protect your vehicle from one minor mistake you might make or from theft, especially if your vehicle contains a lot of desirable goods for thieves.

These desirable goods might include radios, disc players, GPS systems, mobile computers, and other expensive items inside or outside the car. Comprehensive car insurance will protect all of that with the right policy.

As you can see, ignoring comprehensive car insurance is a grave mistake. Save yourself the hassle and spend a little extra every year on your insurance policy.

Source: Finance

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Insurance can be a tricky business. All the legalese, the unreadable fine print, and questionable tactics can keep you from finding out what your options are. You’ll surely get an insurance policy even if you buy hastily but it won’t probably be the best one.

Life, auto, and homeowner’s has several different types, and insurance companies offer a wide range of policies for each type. When you look for an insurance policy, begin your quest with an understanding of how the each form of insurance operates, so you can figure out which policies will work best for your individual needs.

It may surprise you to know that 65% of South Africans have no auto insurance at all. When we take the incidents of accidents and road injuries, this shocks us.

Auto cover is coming in three varieties, third party is the minimum coverage and guards you if you wound other person or hurt somebody’s belongings in an auto accident. Third party fire and theft will include cover that is provided below third party and will add security for impairment caused by fire, theft or attempted theft. A complete security is also provided to protect your automobile in an accident that is your mistake.

Judge against policies and quotes since auto cover premiums can be costly. Bargain with the insurance corporations for a better price and consider raised and high excesses security actions to lessen your premiums further.

Term life insurance is the least expensive option and provides cover for a specified amount of time or can be linked to specific debt obligations. Term life is beneficial for families that may have a large amount of debt that will be paid off by the end of the policys term.

Whole life insurance is permanent insurance that remains in effect as long as the premiums are up to date. The policy does not need to be renewed and the premiums remain the same throughout the life of the policy. It provides your beneficiaries a lump sum at your death regardless of when that occurs.

Universal life insurance cover is structured the same way as whole life in that it is permanent insurance with level premiums. In addition, it adds provides financial products such as a savings plan, investments and the ability to add a person to the policy. It is the most expensive life insurance option due to its flexibility.

Your life changes and it is always beneficial to check on the current status of your life insurance to make sure it is still meeting your needs.

Your options for homeowners insurance have expanded thanks to the National Credit Act. Previously, borrowers had to purchase their cover from the bank that financed their loan. Now, you can shop and choose the cover that fits your needs and budget. Youll be required to cede the policy to your lender so that your policy can pay your bank directly.

When shopping for insurance, remember the old adage that the cheapest policy isn’t always the best. For example, a bicycle costs less than a car but it will not serve the same transportation needs. Hence, you need to find an affordable insurance policy that meets your particular coverage concerns.

Source: finance