Prime America Life Insurance

If you have decided to buy a life insurance policy you must have given it a time of contemplation considering all pros and cons. Here you are all confident and sure that you really need it. And when you just thought that the truly hard part was over, here comes another issue to think through: which insurance issuer to chose.

In search of the right kind of life insurance to meet your needs, you will have to review a wide range of companies and policies. In your research you will definitely come across Prime America as one of the largest life insurance policies. The company maintains a comprehensive web-presence, and is among the most accessible. There are many options offered by Prime America Life Insurance.

Prime America's life insurance policy is extremely simple and easy to understand. It is very blunt about the fact that the life insurance policy it offers is not an investment. The site cautions that while some forms of life insurance have an investment component to them, it reminds you that those forms of insurance still need to cover death benefits and attendant risks in order to function. Whole life insurance, the term used to denote life insurance with an investment involved, is often a great deal more expensive than term life insurance.

If a person chooses term life insurance Prime America Life Insurance provides affordable rates for a specific period of time insuring an individual's life. At the end of the term life policy period a new policy can be instituted for an additional number of years. Term life insurance is very popular for most people because it is relatively reasonable when compared to whole life and is usually easier to acquire than whole life policies.

Whole life insurance provides coverage throughout a person's life and has premium rates which increase periodically based upon many factors include the age of the individual when rates and premiums are calculated.

The company offers many educational and training tools to their customers to assist them successfully meet the major milestones in their life. Among these are extensive programs in teaching clients how money works and how the amount of their life insurance, whether it is term life or whole life can affect your own future as well as that of your family.

If you really think you need this type of policy make sure you read thoroughly all the information, learn peculiarities of each policy type especially the one you will decide to chose. It is a huge investment and you may suffer losses in case you decide to terminate your policy.

Insurance Types

Look at the list of insurance types and variations and then take a time to count how many of them are there. People insure everything they want: it depends on their income, spare time and creativity.

We will review pros and cons of three types of insurance today: life insurance, health insurance and less significant but yet not useless – travel insurance.

Whole life insurance. For many years whole life policies were the predominant type of life insurance sold in America.

Pros. If a life insurance policy holder dies his family members get set benefit upon his death.

Cons. Although the money stored by the insurer in case for your death belong to you, you cannot withdraw them whenever you want like from a bank account. In order to withdraw funds, you can either surrender the policy for its cash value or take the needed funds as a policy loan. If you surrender the policy then you’ll be burden with huge taxes and a policy loan places high interest rates.

Health insurance. Health insurance is a great thing if you can afford it.

Pros. An insured patient gets a different level of service than an uninsured patient. The fact is your chance of dying from a life threatening illness is 7 times greater if you don't have health insurance. Another positive aspect about HMOs is they pay for programs that are aimed at keeping you healthy such as yearly checkups, gym memberships, etc. They do this so that they will not have to pay for more costly services if members were to get sick.

Cons. The disadvantage is giving financial incentives to doctors for limited care and your doctor might try and skimp on your treatment. You can't expect treatment on demand either. Another con to health insurance is most people have to pay for it out of pocket; if it's not provided by an employer.

Travel insurance. I think this is something people invented out of boredom. Troubles and misunderstanding are common things but they are not the end of the world. And if say a plane crashes and a person dies then it’s not travel insurance but whole life one that would be more appropriate. In comparison to this travelling trouble others seem so minor, right?

Pros. It gives you piece of mind: the insurance company reimburses all losses. Travel insurance may provide additional coverage beyond what is available from other sources. For example, it may boost the reimbursement rate for lost, delayed, damaged or stolen bags over airline limits.

Cons. Travel insurance may be unnecessary if you already have adequate coverage from other sources. For example, many credit cards provide holders with travel assistance and travel protection benefits. Travel insurance coverage also has limitations. For example, it will not help you if bad weather puts a damper on your vacation; it won't pay out if you change your mind and decide not to take the trip and the like.

Before buying an insurance policy, first think whether you really need it and then consider all its pros and cons.

American Income

The first candidate for our examination will be American Income.

The company is quite well-known that is why will not stop on its profile detailed. Maybe a few words for those who may not have heard about it.

American Income American Income is a US-based life insurance company. American Income is licensed in 49 states, the District of Columbia, Canada, and New Zealand. Its subsidiary company, National Income Life Insurance Company, is licensed in the state of New York.

Now let’s read about the products offered by the company. As well as any other company who’s targeted at good profit, American Income has several Premium plans that are offered to the financially benefited. These products include:

 

• Whole & Term Life Insurance; 
• Accident & Hospital coverage; 
• Cancer coverage; 
• Critical Illness coverage; 
• Terminal Illness coverage; 
• Strike premium waivers;

• Layoff premium waivers. 

However, there is another option offered by the company to the rest (less well-off customers) - No-Cost Products available to families of labor unions, credit unions, associations, and other organizations:

• Group AD&D
• Family Information Guide
• Identity Theft Prevention Brochure

• Social Security Benefits Update.

If you an Individual without an organizational sponsor for coverage through AIL applies for life insurance, the following opportunities are still available:

• NO COST Partners Discount™ Program
• NO COST Child Safe Kit©

• Life & Supplemental Insurance.

By describing these options as NO COST, the company implies – huge discounts (up to 60%) on medicines and some medical services at a symbolic price of the policy per year.

NO COST Child Safe Kit© is a free kit which may help parents prevent their children to be in the list of those 800, 000 missing each year.

Among other Supplemental Insurance American Income offers accident policy, hospital indemnity, cancer protection, critical illnesses, and terminal illness rider.

Insurance Companies

Hi there!

I'm starting a new blog... It will be dedicated to insurance industry and its separate representatives - insurance companies. Little overview of the industry's activity and fund flows won't be odd. 

Insurance and risk management make up an immense global industry. According to a survey conducted by a leading global insurance firm, Swiss Re, worldwide insurance premiums totaled $4.270 trillion in 2008 (the latest data available), up about 6.3% from $4.061 trillion in 2007.

And now look at the American insurance industry rate in the light of global figures and data. In the USA the insurance industry’s net premiums written totaled $1.1 trillion in 2008, with premiums recorded by life/health (L/H) insurers accounting for 59 percent and premiums by property/casualty (P/C) insurers accounting for 41 percent, according to Highline Data, LLC.

P/C insurance consists primarily of auto, home and commercial insurance. Net premiums written for the sector totaled $441 billion in 2008.

The L/H insurance sector consists primarily of annuities and life insurance. Net premiums written for the sector totaled $628 billion in 2008.
Private health insurance is generally considered separately. It accounted for $609.2 billion in premiums in 2008, according to the National Association of Insurance Commissioners. This includes premiums from health insurers as well as smaller amounts from L/H and P/C insurers.

There were 2,741 P/C insurance companies and 1,128 L/H insurance companies in the United States in 2008.

The U.S. insurance industry employed 2.3 million people in 2008. Of those, 1.4 million worked for insurance companies, including life, health and medical insurers (804,200 workers) P/C insurers (569,200 workers) and reinsurers (28,400 workers). The remaining 907,000 worked for insurance agencies, brokers and other insurance related enterprises.

As a result of globalization, deregulation and terrorist attacks, the insurance industry has gone through a tremendous transformation over the past decade. Massive sources of insurance company earnings come from the sale of annuities and other retirement and investment products, along with profits (or losses) that insurance underwriters earn on their own assets and reserves.

Insurance companies seem to be of great help and benefit whenever a policy holder needs money in critical situation. However, it is not always the case that insurance companies treat their customers fairly.