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Posts Tagged ‘Insurance’

A relative has just died. He had a life insurance policy with you listed as the beneficiary. There’s just one problem: the life insurance policy is missing. You have no idea which insurance company wrote it.

If you find the missing life insurance policy in the future, are you still eligible to receive the death benefit?

Hope they paid their insurance bills

If you’re a beneficiary and you find the lost life insurance policy shortly after the insured dies (within six months to a year, for example), claiming the death benefit should be trouble-free.

First, determine if the insured had term or permanent life insurance. If the insured held a term policy, you’ll receive the death benefit if he died before the end of the policy term. If he died after the policy expiration date, you would get nothing.

If the insured had a permanent life policy, you’ll receive the money if the death occurred while the policy was “in force,” meaning all premium payments were made up until the time of death. If the death was a while ago, you’ll receive the benefit with interest from the date of death.

If the life insurance policy lapsed — meaning the insured stopped making premium payments before he died — there’s a chance you might get nothing. When a permanent life insurance policy lapses, most insurance companies switch its status from permanent insurance to one of two options: Read the rest of this entry »

There are dozens of different types of insurance, from insurance that you have to take out by law (such as car insurance), to policies that it’s a good idea to have (such as contents insurance) to those that are ‘nice to have’ rather than necessities.

Figures from the Association of British Insurers show that, during the recession, one in four people cancelled their home insurance. While it’s a good idea to make sure you’re not paying for insurance you don’t need, you should always think about what would happen if disaster were to strike before cancelling any insurance policies.

How does insurance work?

When you take out an insurance policy, you pay a premium to the insurance company. If you never make a claim, you never get any of the money back; instead it’s pooled with the premiums of others who have taken out insurance with a particular firm.

That may not sound like a good deal, but the idea behind insurance is that everyone pays into a pot of money, knowing that only some of them will ever need to make a claim. If you have to make a claim (perhaps because your washing machine has flooded your kitchen and damaged your floor), the money comes from the pool of your and other policyholders’ premiums. Read the rest of this entry »

Important Texas Business Insurance Questions You Should Understand

Is your equipment or merchandise insured while in transit, at a trade show, and anywhere else other than your regular business address?
The police call you at 2 in the morning. Your windows are broken and Noah and the animals are just boarding the Ark. Will your insurance pay for the horrendous water damage and your lost income since it will be easily 4 months before you’re open for business again?
When you buy new equipment, a building, or just remodel, do you automatically have coverage before you must report the additions to your company?

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Many new insurance agents know very little about business insurance leads. However, once they have been around awhile they begin to understand just how much their business can benefit from purchasing commercial insurance leads. Business insurance leads can result in some very lucrative sales, and adding several key businesses to your customer list will increase your profit immensely. If you aren’t yet familiar with the specifics of commercial insurance leads, then continue reading. As you likely already gathered, the first part of the business insurance, is the “business insurance” part. Nearly every company out there needs to purchase insurance to cover their business from potential difficulties down the road. Companies large and small require insurance, and this is a large customer base that many agents neglect to serve. If you are going to sell to these businesses, then you must have a good understanding of the different types of business insurance policies. You will want to research and study them so that you’ll be able to answer any potential questions right away. This is essential if you are to close sales, because you must be knowledgeable about the product you are selling. If you don’t appear to know much about what you are selling, there is a good chance your potential clients will go elsewhere. The second part of the business insurance lead, is of course the lead itself. The lead is the company that is interested in purchasing insurance. This could be a company that comes to you looking for insurance. Any agent who wishes to profit from business insurance must have plenty of business insurance leads to work with. Once you have a lead, it is critical you make contact right away. This increases the likelihood you will be the agent to close the sale. If you don’t have a swarm of business knocking on your door for insurance, then don’t despair. There are several online brokers that specialize in pairing companies in need of insurance with agents who sell insurance. You can purchase as many of the leads as you like. It is merely a matter of contacting these leads and closing sales. If you haven’t tried purchasing online leads yet, then you really ought to consider it. The cost is more than worth it, because you will instantly have a pile of leads primed and ready to go. Most agents never go back to traditional lead generation once they have tried online commercial insurance leads. Now that you understand the basics of business insurance leads, you are ready to make some sales. Just remember to research your products and to contact your leads as soon as you possibly can. It won’t take long before you have plenty of company insurance accounts to watch over.

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