By Anthony Cruz

Life insurance is something all families should consider. Life Insurance is important, because it provides financial protection for your family and peace of mind. If you are properly insured, your family will have the financial means to continue its current lifestyle if something happens to you. Life insurance can also be an important tool for estate planning, business succession planning and other financial challenges.

The ability for your family to continue its current lifestyle while going through the grieving process is crucial. Losing a parent is hard enough on a child. Losing their home and their way of life on top of it is devastating. The following quiz will help you answer these questions: Why should I get life insurance and how much life insurance do I need to get?

1. I should get life insurance because:
a. Youre starting a family and having your first child.
b. Youre having more children and want to make sure they have educational funds in the event you die unexpectedly.
c. You are accumulating more debt and want to make sure your spouse does not have to worry about this in the event that you pass away unexpectedly.
d. You purchased a home and want to make sure the mortgage will be paid off in case something happens to either one of you.

2. The amount of life insurance a person buys should depend on:
a. Whether the individual is married and has a family.
b. Whether, in the event of an untimely death, the remaining spouse would be able to sustain herself or himself without the others income.
c. Planning appropriately for the cost of your childrens care and for funding college education.
d. The amount of outstanding financial debt you have, such as the balance of an unpaid mortgage.

3. I dont have to worry about life insurance right now because I am young and healthy.
True or False?

4. There is only one kind of life insurance the kind you get when you die.
True or False?

5. When deciding the amount of life insurance I need, I should only consider my income.
True or False?

6. I dont need to buy my own life insurance because my company covers me at work equal to one year of salary.
True or False?

7. Ive got some health problems that Im not going to disclose so I keep my premiums nice and low. They arent going to check my health history if I say I am healthy.
True or False?

How did you do?

1. All of the above
Life insurance provides financial security for your family and peace of mind from knowing that they will be provided for should an untimely death occur. Average end-of-life expenses can total anywhere from $5,000 to $20,000. Its a large financial obligation to be shouldered by a clients loved ones.

In addition to providing financial protection, various types of life insurance can also be used as a savings vehicle to assist in paying anticipated inheritance tax, and in preserving wealth and transferring it to your loved ones. Life insurance can also be used in a business to fund a buy/sell agreement between partners of a business.

2. All of the above.
He says there are many things you should take into consideration when contemplating the amount of your life insurance policy.

It depends on the size of your family, what it will take to zero out your mortgage, three to five years of income so your spouse doesnt have to work and college tuition money banked for your children. With that in mind, you should have a clear idea of how much you need. Some say 20 times your salary, but your budget will dictate how much premium your family can spend.

3. This one is both true and false.
True: If you are young, healthy, single and no one depends on you for financial support.

False: If you are married and want to provide for your spouse after your death and really false if you are married with children.

Life insurance is cheapest when we are young and healthy, so waiting to buy only increases the premium!

4. False. There are two kinds of life insurance:
*Term insurance, which pays a specified amount for death if we die within the term coverage
*Permanent life insurance (whole life, universal life, variable life), which provides a death benefit plus cash buildup.

5. False.
How much life insurance you get is determined by:
*How much you need for your childrens education.
*How much money you need so your spouse will not have to work for three to five years.
*How much the balance is on your mortgage.

6. False.
One year of salary doesnt equate to financial security and risking that your health will remain as perfect as you age or that you wont be fired or your company wont go out of business, [it] is a gamble your family doesnt deserve,.

7. False.
Your life insurance company will take away your policy, pay no life insurance benefit and refund your premiums if you materially misrepresent your health status on your application if you die within two years of the application date.

About The Author

Anthony Cruz has been marketing for his clients for over ten years through his media contacts. Visit http://www.darraslaw.com/ for additional information.

By Anthony Cruz

Taking on the giants of the disability world is not for the faint of heart.

The cases are complicated, emotionally taxing and terrifically expensive to prosecute, and time is the carriers friend. Carriers know sick people dont fight hard and cant shoulder a long, drawn out courtroom battle. It takes hard-earned respect on both sides of the table to get these cases resolved. However, recent reforms in the industry have made the claims process more efficient and fair for both sides.

We have come a long way since the 1970s, when most disability contracts were oversold, underpriced and offered overly generous individual disability benefits. Life was good, the economy was roaring, the individual disability market was a billion-dollar premium pie, and everybody got more monthly benefits than they could ever dream of using.

By the 1990s, however, all that had changed. HMOs were now in charge of medical care, and they and other insurers began tightening the purse strings. Wall Street grew angry at missed corporate projections and investment income tanked, paving the litigation highway with anger. Carriers scrambled. They couldnt change the economy, couldnt cancel their non-cancelable policies and couldnt raise their premiums because the contract renewals were guaranteed.

Policyholders began making claims, lots of claims, that when denied stacked up in overburdened courthouses. Pounded deep into the claims mud, policyholders turned every nickel-and-dime disability case into an institutional bad-faith cause. And though some insureds surely brought unfounded claims, many more suffered insurance nullification by litigation as the disability market itself literally became disabled.

The meltdown of the disability market yielded blockbuster punitive damage awards and lessons learned the hard way on both sides of the claim table.

Carriers removed local claims handlers and then sought relief in federal court on diversity grounds. For this, they were rewarded with the genuine dispute doctrine that allowed them to avoid bad-faith and punitive damage awards by simply creating a genuine factual, medical or financial dispute. The result left the insured with just a breach of contract action for past due interest and benefits. The Supreme Court decision in Campbell v. State Farm

To enhance their profitability, many of the surviving carriers rewrote their contracts with additional restrictions. Some stopped offering non-cancelable policies, curtailed the duration of benefits arising from an inability to perform the important duties of ones occupation, reduced the maximum monthly benefit amounts, and added fraud to their contestability clauses.

Todays carriers have created new policies with more favorable premiums that have enabled them to finally turn the corner on profitability. This required careful planning, a strengthening of corporate reserves, revamping individual disability product lines and adopting entirely new underwriting criteria. With more corporate players returning to the individual disability market, policyholders have more product options and carriers face downward pressure to handle claims fairly.

A key to the improved disability market is a new set of good-faith claim objectives adopted in the November 2004 multi-state Regulatory Settlement Agreement by UnumProvident, the industry leader. Its dominant market share brought UnumProvident problems when state regulators began examining the volume of lawsuits filed against it and the companys claim practices. The multi-state market conduct examination of UnumProvidents claims-handling practice was led by insurance regulators in Maine, Massachusetts and Tennessee.

The agreement is sweeping in its scope and includes the company and its subsidiaries (including UNUM, Paul Revere and Provident), 48 state insurance commissioners and nationwide market conduct regulators. It changes the way disability cases are evaluated and implements greatly improved claim guidelines that should result in policyholders getting the benefits they richly deserve. Good faith is always good business for insurance companies; it prevents needless lawsuits and makes for happy policyholders.

The primary components of the agreement include enhancements to UnumProvidents claims-handling procedures and additional corporate governance to support oversight of the reassessment process and improved claims-handling practices.

Most significantly, the agreement also implements an unprecedented feature: the claim reassessment process, in which UnumProvident agreed to reopen and reconsider in excess of 215,000 individual and group long-term disability claims that were denied or closed since January 1, 1997. This is a clear indication that UnumProvident has turned the good-faith claim corner. Many of these previously denied claimants will be able to revive their claims under new claim objectives. If UnumProvident determines the claimant is disabled under the new objectives, the insured will receive all back benefits, interest and attorney fees and will be returned to claim paying status on a monthly basis. Naysayers heaping trash from the bleachers may say, New claim objectives wont change the denial; I say wrong.

As someone who represents thousands of disadvantaged and disabled claimants, I see every day that the agreement is working to provide the truly disabled the benefits they deserve. This is due in part to UnumProvidents agreement to enhance its claim procedures by adding a series of new good-faith claim objectives.

These objectives include giving significant weight to the awarding of Social Security disability benefits, whether received before or after the claim was denied, as well as to both objective and subjective evidence of impairment, along with appropriate consideration of the treating doctors opinion.

They also include adoption of a series of other good-faith claims factors that should help those who deserve benefits get them. One such factor is a collective evaluation of co-morbid claims (physical and mental) looking at all of the medical conditions contributing to the disability, including medication side-effects. A second factor is a requirement that all independent medical examiners selected by the company be unbiased, financially disinterested, fully trained and skilled.

A third factor is a requirement that all in-house company physicians be skilled, trained and have all the insureds medical information in hand before rendering impairment findings. The fourth and final factor is a mandate that all claims personnel undergo rigorous training on the new claim objectives to ensure best claim practices with vigilant corporate monitoring and oversight.

In October 2005, UnumProvident reached a similar, more expansive agreement with the California Department of Insurance, which was performing its own examination into disability claims-handling practices and wanted further claim improvements.

The principal features of the California agreement include enhancements to UnumProvidents claims-

handling procedures and a reassessment of certain denied or closed claims. In addition, UnumProvident agreed to change certain claims practices and policy provisions specific to California.

Most importantly, the California agreement redefines total disability as the inability to perform with reasonable continuity the substantial and material acts necessary to pursue the insureds usual occupation in the usual and customary way. Any occupation total disability is the inability to engage with reasonable continuity in another occupation in which the insured could reasonably be expected to perform satisfactorily in light of his age, education, training, experience, station in life and taking into consideration his physical and mental capacity.

The agreement also eliminates policy language delegating discretionary authority to the insurance company to determine eligibility for benefits and to interpret policy language. This eliminates the deferential abuse of discretion standard of review in long-term ERISA preempted cases. UnumProvident also agreed to limit offsets in long-term disability cases, offsetting Social Security disability benefits actually received by the claimant (not estimated or due in the future). The company agreed to not exclude conditions contributed to or by the pre-existing condition, requiring the medical condition to have actually existed or been diagnosed prior to the effective date of coverage. It also applies the limitation after the termination of any physiological-based disability, discontinues the use of the self-reported condition limitation and makes rehabilitation provisions voluntary.

The California agreement not only benefits previously denied policyholders but also raises the legal bar to hold other carriers doing business in California to a higher good-faith standard. And that is good for consumers. With the industry leader stepping up to correct past problems and agreeing to consumer-friendly changes on a national basis, the rest of the disability carriers would be wise to follow. Any time an industry leader commits to bright-line, good-faith standards, the policyholder comes out on top.

The market is jittery, however, with concerns that the upcoming national election will impact consumer efforts to ban clauses that pre-empt coverage under ERISA

About The Author

Anthony Cruz has been marketing for his clients for over ten years through his media contacts. Visit http://www.darraslaw.com/ for additional information.

By Anthony Cruz

Purchasing disability insurance, however, can be tricky and expensive. Policy features, advantages, and benefits vary greatly. While some policies are ironclad and pay benefits when you need them, others have more holes than a pasta strainer.

The following tips will help you be a smart shopper and buy the right coverage with all the bells and whistles you need to protect all you have worked so hard to achieve.

* Always buy as much individual coverage as you can afford. While doctors think (like everyone else) that they will never become disabled, the reality is that one-third of all Americans between the ages of 35 and 65 will become disabled for more than 90 days. Disability takes down an American worker every 8 seconds and accounts for roughly 35% of all foreclosures and bankruptcies.

* Most carriers will insure 60% to 70% of your annual income, taking into account any disability coverage already in force. (No plan will cover all of your salary for fear you will have little or no incentive to get back to work.) So, even if your practice offers a group policy, be sure you buy your individual coverage first, and pay the premiums for the policy yourself so any benefits will flow tax-free.

* Only purchase noncancelable and guaranteed renewable coverage. These features mean the insurance company cannot cancel your policy, increase your premiums, or change the contract language as long as you pay your premiums on time–even if the insurer is taking a bath on the claim side or decides to stop writing new business in your state. In many cases, these provisions will be automatically included in your policy, but you should still check.

* Obtain the longest benefit period possible–lifetime if available, but at least until you reach age 65. While you might consider a 5-year benefit period to reduce premiums, this is a risky gamble because your disability might last much longer. What happens when your benefits run out and you are still disabled? How will you find a job outside your medical specialty that will enable you to maintain the lifestyle youve worked so hard to achieve?

* Always buy own occupation coverage to at least age 65 or if you can get it, for life. This critical feature pays your monthly disability benefit even if you are able to work in a different occupation. Assume you develop ulna problems and your grasping, gripping, and fine-motor movement in your hands prevents you from doing the important duties of your ophthalmology practice, but you could teach at your medical school.

* Waiting periods: Individual waiting periods on your policy will vary from 30 to 365 days. The shorter the waiting period, the more expensive the coverage. Most policies have a 90-day waiting period, which means during the first 90 days no benefits are payable following a disabling event. Once the waiting period is over, you begin accruing benefits, which are paid retroactively on a monthly basis. With a 90-day waiting period, you will need a minimum of 4 months worth of savings to pay your monthly expenses (i.e., 90-day waiting period + first 30-day period of disability + 15 days to process your check = 135 days), so save accordingly.

* Cost-of-living adjustment is a must-have feature when you are younger and expect your earnings to go up. The increase in your annual premium will more than pay for itself by staying ahead of inflation should a prolonged disability keep you from working.

* Future increase options are also a must when you are just starting out so be sure you negotiate to buy $5,000 or to the companys maximum option amount. This terrific feature allows you to exercise options in $500 increments as your earnings increase without having to qualify medically.

* Remember, when it comes to insurance, the big print giveth . . . the small print taketh away. Be very careful to read the fine print. Look for limitations on certain disabling conditions, such as a 2-year maximum benefit for mental/nervous conditions, or a 12- to 24-month limit on fibromyalgia, chronic fatigue, or degenerative conditions.

* Whatever you do, dont miss a premium payment. If you forget, youll get one reminder notice. After that, your policy will lapse, all those premiums youve paid over the years will go down the drain, and youll have to qualify again when you are older and your health may have declined.

* Finally, physicians often make fatal mistakes early in the claim process. Make sure you get the benefits for which you have richly paid. Seek out the most experienced national disability counsel before you file your claim so the carrier doesnt snooker you with legalese or fine print.

To get the protection you need, you have to understand how individual disability policies are structured and what options are available. Since the options and provisions (including exclusions and restrictions) are numerous and complex, it is worthwhile going over them with your agent, or with an experienced disability attorney before signing up.

If you choose your policy wisely, youll have the comfort of knowing that even if an illness or injury forces you to stop practicing, youll still have a source of income to provide for your family.

About The Author

Anthony Cruz has been marketing for his clients for over ten years through his media contacts. Visit http://www.darraslaw.com/ for additional information.

By Anthony Cruz

The biggest concern of all is the possibility a claimant could be wrongfully denied coverage when they need it most. So, it is vital that every consumer carefully research their choices and get reliable advice and a sound second opinion so that they and their families are richly protected.

Basic Benefits

Understanding this relatively new product includes learning its benefits for skilled, intermediate and custodial care.

Three benefit categories as:

*Skilled care must be prescribed by a doctor, delivered by a registered nurse and available 24 hours a day.

*Intermediate care refers to occasional nursing and rehabilitative care under the supervision of skilled medical personnel.

*Custodial care involves assistance with the activities of daily living (ADLs), such as bathing or eating that can be provided by someone without medical skills and is usually provided in residential care homes or to individuals in their own homes.

Look for policies that pay for all three categories including care by non-professionals, such as family members or friends, Darras says. These are the policies that get the most use.

Understand that there are two ways benefits are paid, either on an indemnity or reimbursement basis.

With an indemnity policy, the insured is paid the daily or monthly benefit regardless of the actual charges, Darras says.

A reimbursement policy will not pay more than the actual charge, regardless of the maximum daily benefit amount. Any unused portion may be carried over from one period to the next.

Choosing a Carrier

You may find that the most important decision you make may very well be the carrier you select.

Choose your LTC insurance carrier wisely and do plenty of research. If your insurance carrier goes out of business, when you need the coverage most, those around you suffer and must go without, says Darras.

Here is Darras checklist to help select a good carrier:
*Research the Companys commitment to Long Term Care, how long have they been selling their policies? How many new policies do they bring to the market in your state every year? How often have they requested premium increases and at what per cent?
*Check with Departments of Insurance in your state and others
*Check the overall financial strength and size of the Company
*Review their annual reports
*What kind of media coverage are they receiving and for what?
*Current legal actions against the Company or punitive damage verdicts in the past five years
*Does the Company promote rate stability or do their rates creep?
*Check their claims payment record
*Any market-conduct investigations or class actions making news?
*What would happen to your coverage if the Company is sold or goes out of business?
*Do they offer indemnity or cash benefits?
*How is Long Term Care defined?
*Is there a provision for temporary Long Term Care?
*If you need Long Term Care can you have it provided
*In your home?
*In the home of a family member?
*In an adult care service facility?
*In an assisted living facility?
*In a hospice facility?
*In a nursing home?
*See what type of care the policy covers:
Custodial care is provided by someone who is not required to be licensed or skilled medical personnel.

Intermediate care refers to occasional nursing and rehabilitative care under the supervision of skilled medical personnel.

Skilled care is the provision of services and supplies that can only be given under supervision of licensed or skilled medical personnel.

It is vital to get competent, reliable advice and a sound second opinion so that you and your family are protected. Your familys financial future should rest easy with the security of your well-researched decisions.

Your familys financial future and your independent living will depend on how carefully you shop. Be smart, understand the fine print and have any legalese translated so you are sure you get what you are paying for.

About The Author

Anthony Cruz has been marketing for his clients for over ten years through his media contacts. Visit http://www.darraslaw.com/ for additional information.

By Charles Peeler

Texas Humana health insurance rate quotes can be obtained online or by working with an insurance agency. You can find all kinds of different policies to choose from including doctor co pay plans, high deductible HSA compatible or even traditional catastrophic plans, and the quotes that you get will be completely free. Humana is one of the largest health providers in America, and if you are one of the nearly 6.2 million Texas residents without health insurance, you owe it to yourself to check out the coverage that this company has to offer.

Humana is one of the largest insurance companies that are publicly traded in the U.S. There are 6.2 approximate enrolled members in Humana health plans, including many of them in Texas. The company was founded in 1961 under the name Heritage House of America Inc., and today is a global leader with more than $8 billion in sales and almost 20,000 employees nationwide. Humana sells insurance in 16 states and Puerto Rico, and 45% of their customers are located in Texas, Florida and Illinois. The company is headquartered in Kentucky and they have a strong commitment to helping people through their health insurance programs.

When you are researching Texas Humana health insurance rates, you need to make sure that you are getting location specific quotes. Some of the rates will be different from one state to another, so you dont want to be misled. Insurance prices arent astronomical in Texas, but they are much higher than in many of the states that Humana serves. This isnt just with Humana, of course, but with all insurance companies throughout the state. Getting a Texas Humana health insurance rate will help you to see your options and determine if you are able to find the best insurance solutions for your needs. So many people have different ideas about what to expect, which is why free quotes are such an advantage to have.

Texas Humana health insurance rate quotes are much more affordable than you might realize. By taking the time to get a free quote, you can compare it to other quotes that you have and find the right insurance for your needs, no matter what those might be. You shouldnt keep on being one of the 1 in 4 Texas residents who dont have health insurance because you can get an online quote and get the coverage that you deserve at a price that you can afford. All it takes is a little time to look and review your options.

About The Author

Charles Peeler has been providing Texas Humana Health Insurance since 1993. For more information or to acquire a free Texas Health Insurance quote visit http://www.peelerinsurance.com today!

By Jacob Schiffer

Getting health insurance is one of the priorities you really need to consider to help protect your health, your income, and your savings even if you are unemployed. If you are not familiar with health insurance, you could wind up paying too much. You can find health insurance you can afford by following these guidelines:

Be sure to shop around for quotes

Doing a cost comparison of the quotes you get from different insurers is a key way to find an affordable plan. Receiving great service as well as lower premiums are both large contributing factors in proving affordability. Ask for recommendations from trusted friends and relatives, and read reviews on the Internet to find the best and most affordable health insurance services. Enrolling in Insurance Leads programs is one way to simplify the search process.

Steer clear of services that you don”t really need

One way to make your health insurance plan affordable is to do away with medical services that you don”t really need. Extra services would mean more expenses to the insurance company, which in turn means higher premiums for you. If your health insurance plan is too expensive, you can redesign it to make the premiums more affordable.

Use out-of-pocket expenses to lower your health insurance premiums

Another popular option for those searching for affordable health insurance is increasing out of pocket expenditures. Coinsurance, co-payments and higher deductibles are all ways to lower your premiums by increasing the amount you”ll spend for services. Do not hesitate to ask your insurance company about out-of-pocket expenses.

Take care of yourself and break bad habits that endanger your health

Simple things such as your habits, and more basic traits like your general healthiness will affect your insurance premiums. Stay healthy and stop high-risk habits like smoking if you want to decrease health insurance costs.

Find out whether you are eligible for Medicare or Medicaid benefits

The government has two health programs that they sponsor: Medicare and Medicaid. You must meet certain eligibility requirements to use these benefits. Medicare is for those sixty-five years of age or older and those who qualify for disability benefits through Social Security. Medicaid, on the other hand, is for low-income individuals and families. Reassess your situation periodically to see if your family can qualify to reduce their health insurance expenses.

See if your employer offers a worker’’s compensation insurance program to employees

Most companies offer health insurance benefits to their employees, while some offer worker’’s compensation insurance. Even if they do not offer insurance benefits, if your health issue or injury is caused by doing your job, companies may be obliged by law to compensate you for your medical expenses.

Try getting short-term insurance coverage

This is advice for people who are out of work. Short-term insurance coverage tends to be affordable, as it covers your medical expenses for a short period of time only. This is a good step to take when you need to get insurance from a future employer, but will need gap coverage.

Join a club with group health insurance

Group insurance is offered by many groups. If there’’s one near you, maybe you can get group insurance by joining them. Because insurance companies frequently provide discounts to companies or organizations that are providing insurance to a large number of employees, this type of coverage is frequently less expensive.

Get a medical cards

Making medical expenses easier to afford is the benefit of medical cards but it is not insurance. In the terms and conditions you will find that there are discount cards available for doctor visits, lab tests, surgeries, as well as many other services.

If you are not able to enroll in government benefits or if you do not work for a company that offers medical benefits, you might have a hard time finding a health insurance plan you can afford. If you follow the tips mentioned you will find that your insurance shopping experience will be a pleasant one. You are sure to find affordable health insurance plans that will suit your needs.

About The Author

This is where you can go to partake of Insurance Leads programs and to get quotes from a variety of different agents. http://www.toppickleads.com.

By Anthony Cruz

An agent works through a life settlement company or broker to sell the policy on the secondary market for more than the policys cash surrender value.

Evolving from viatical settlements (terminally-ill insureds with less than two years to live), life settlements involve seniors generally over the age of 70 with life expectancies between three and 15 years. The typical life settlement client is a 76-year-old high-net worth senior who approaches the transaction as a business decision.

There are numerous reasons why a client may want to sell his insurance policy. For example, insurance needs or estate planning goals may have changed; premiums may have become unaffordable or cash may be needed to fund a different (better performing) life insurance policy; a change in business owners or key persons may have occurred; funds may be needed for long term health care;I or funds may be needed as a source of cash for charitable giving.

The life settlement industry has doubled over the past five years. Not surprisingly, this rapid growth has spawned a plethora of individuals and companies proposing to negotiate life settlements on a clients behalf. Beware, this is not a business that one can just jump into. It is imperative that you seek out a reputable and experienced life settlement company/broker to work with — they are the liaison between you and life settlement funding companies (organizations licensed by the State Department of Insurance to purchase life insurance policies are known as providers).

The following is a list of qualifications to consider when choosing a life settlement company/broker:

*Is the company operating within the regulations of your state? The National Association of Insurance Commissioners (NAIC) developed the Viatical Settlements Model Act and accompanying Model Regulations to encourage states to adopt uniform standards for regulating the life settlement industry. II Although life settlements are legal in all 50 states, regulations vary from state to state. Some have detailed, strict regulations and others have none at all. III The entire transaction is at risk if an agent works with an unlicensed company in a state that requires licensing. All reputable companies and providers should be well versed in the regulations for various states.

*How long has the company been in business? The rules and regulations pertaining to life settlements are complicated. The longer the company has been in business, the better prepared they are to deal with this tricky regulatory environment. Agents should steer clear of start-up companies.

*What is the companys reputation? Be sure to ask for a list of referrals from the company. Are life settlements a core competency or merely a side business? Also look at the companys past history especially what were they doing prior to entering the life settlement market.

*Does the company have an anti-fraud policy? Several states have anti-fraud requirements and most main-stream settlement companies should have an anti-fraud policy. It is imperative that the insureds privacy be maintained and his information kept confidential in order to prevent fraud and identity theft. In this regard, it is important that the company work only with institutional investors, as private investors are not subject to privacy rules. This is a very serious issue.

*How many providers does the company work with? Agents who want the highest possible offer for their clients policies will want to work with an established broker who has direct contracts with many providers. A good broker will diligently seek out and negotiate the highest offer. Be sure and find out how many providers the broker has a direct contract with and how many of those will be used in the process of obtaining an offer.

*Does the company work with providers who are doing business with A.M. Best-rated issuers? Receiving an Issuer Credit Rating (ICR) from A.M. Best is a rigorous process and provides a reliable source for ascertaining which companies not only meet but exceed the state and industry requirements. In January 2004, A.M. Best issued its first ratings on securities collateralized by life settlements. IV On September 1, 2005, A.M. Best released its revised methodology for rating securities backed by life settlements, Life Settlement Securitization, which describes the criteria for rating securities backed by life settlements.

*Does the company have E&O coverage? Life settlements are unique — agents should only work with companies that have E&O insurance that covers everyone involved, including the agent and his client. In addition, agents working directly with a provider should be sure they are covered under the providers E&O insurance.

*What is the commission schedule? Agents should only work with companies that have a fixed commission schedule. Be very wary of companies that do not have a set commission schedule.

*Is the company a member of the Viatical and Life Settlement Association of America (VLSAA)? Founded in 1995 as a nonprofit trade association for members of the viatical and life settlement industry, the VLSAA is the industrys governing body. The VLSAA complies fully with all applicable laws, anti-trust laws, federal, state and local laws and all trade regulation and legal requirements.

VI Another example of self-regulation is the Life Settlement Institute, a nonprofit trade group made up of six of the major institutionally funded life settlement providers. The Life Settlement Institute works with government regulatory agencies, legislators and the life insurance industry to promote strict regulations and comprehensive standards and practices for life settlement. In 1992, the Life Settlement Institute started an anti-fraud database for companies to share information of suspicious or fraudulent activity.

Agents looking to expand their business into the life settlement marketplace should definitely take the time to ensure they are working with a bona fide, reputable and experienced life settlement compan it can mean the difference between success and failure.

About The Author

Anthony Cruz has been marketing for his clients for over ten years through his media contacts. Visit http://www.darraslaw.com/ for additional information.

By Jacob Schiffer

The most practical solution when going through a tough financial crisis is to cut back on expenses. You might also need to realign your priorities. There are those who choose to cancel part of their insurance coverages to save money. If you think about it, you may want to research whether getting rid of your life insurance plan should be in your list of priorities. Life Insurance Leads are meant to reach people who are the sole support of loved ones and family members. Many people think that canceling their life insurance policy is an easy way to save money; they are not considering the many ways in which they are risking the future well being of their families. In case you are facing problems, follow these hints to improve your life insurance:

Consider term life insurance when things are tight financially

Being financially tight should not keep you from having life insurance. If you are worried that you won”t be able to pay dues on a whole life insurance policy in a timely manner, perhaps you could look into a term life policy. If you require affordable monthly premiums, you should consider purchasing term life insurance as opposed to whole life insurance. Meanwhile, you can select the plan’’s payout as well as its duration.

Consider individual life insurance if you are unsecured with your group insurance

Certain companies and employers provide subsidized or totally free insurance coverage to their workers. Because of today’’s tough economic times and company layoffs and shutdowns, this arrangement might be considered less secure. If you are feeling insecure either about your company or your position within the company, this may be an ideal time to consider buying an individual life insurance policy outside of your company provided plan.

Increasing the benefit amount of your life insurance policy is a good idea if you are in poor health

If you depend on group life insurance offered from your employer, you can add more insurance and greater benefits. Oftentimes, you can convert to an individual policy if you lose your job, without even undergoing an additional physical exam. Waiving medical exams may be more expensive, but in many cases it is a much more practical option for those people who need a life insurance policy but have some kind of limiting medical condition or are in poor health.

Be sure to get your life insurance from a stable insurance company.

The same as any other type of long term investment, you should consider your life insurance plans for a long time in the future. The first thing you have to do before taking an insurance policy is to ensure the finacial stability of the insurace company and its ability to settle your claims in the future. It is important that you take the time to research the companies that you are considering a policy with in order to check their customer feedback and overall track record.

Your need for having a life insurance policy will grow when times are tough, so it is important that you consider a life insurance plan during the more difficult times.

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By Anthony Cruz

To avoid becoming a financial burden to her children and grandchildren, Vera Smith bought long-term care insurance. Like a growing number of Americans, the 87-year-old retiree saw it as a sensible way to cover care-giving costs not included in Medicare and conventional health insurance.

But nearly two years ago, Smiths insurer stopped paying benefits, contending that she violated the policys terms by moving in with her daughter after she became too frail to take care of herself.

That forced Veray Smith, the daughter, to quit her supervisory job and sell her mothers south Los Angeles house so she could afford to stay home with her.

Im the full-time caregiver now. Its hard, said Veray, who along with her mother has sued the insurer for bad faith. The insurer, Penn Treaty Network America Insurance Corp., declined to comment.

Consumer advocates and insurance regulators say lawsuits and complaints such as the Smiths are likely to mushroom in the coming years as more baby boomers and their ailing parents make claims on long-term care insurance.

Sales of such policies grew 65 percent between 2000 and 2004, but actual and projected payouts have already caused a shakeout that could leave some policyholders with huge medical bills worried that insurers cant or wont pay. Some insurers who underestimated their potential obligations have sharply raised their premiums or abandoned the market.

Insurers have denied long-term claims for a variety of reasons, lawyers say. They have, for example, rejected as inadequate documentation from elders too sick or distracted to be diligent record-keepers.

Or they have rescinded policies, arguing that individuals did not fully disclose a pre-existing medical condition on their applications.

In response to multiplying consumer complaints, some states are requiring more training for sales agents and limiting insurers ability to raise premiums, along with other restrictions.

The growing popularity of long-term care insurance puts pressure on us as regulators to ensure that policies live up to their promise to pay, said Sandy Praeger, Kansas insurance commissioner and vice president of the National Association of Insurance Commissioners.

Industry representatives say the popularity of these policies speaks to their value for consumers and public confidence that carriers will make good on their promises.

This product is rigorously regulated by all 50 states, each of them representing consumers, said Laura Moore, senior vice president for long-term care insurance at John Hancock Life Insurance Co., one of the largest participants in the market.

But experts say its hard to predict the future of the market because these policies are fairly new, and relatively few policyholders have needed to make claims. For example, Moore said, just 1 percent of John Hancocks policyholders have claimed benefits. But the company is confident in its financial assumptions and its ability to make good on every policy, she said.

More than 6.1 million Americans were covered by long-term care policies in 2004, up from 5 million in 2002 and 3.7 million in 2000, the National Association of Insurance Commissioners says. Employers , in particular, have fueled the boom, offering group rates on care policies.

Policies typically cover care-giving, such as nursing home services, up to a fixed amount, such as $100 or $150 a day. But the policyholder must meet certain disability criteria perhaps severe cognitive impairment or requiring help with dressing or bathing.

Premiums are based on an individuals medical history and the age at which they purchase the policy. For instance, a person in his or her late 40s who buys an employer-sponsored group policy can expect to pay premiums of $1,200 a year, Moore said.

Annual premiums could rise to $2,000 for an individual policy, and higher for an older person or someone with a history of diabetes, cancer or another chronic disease.

But financial pressures have forced some companies out of the long-term market, including CNA Financial Corp., Transamerica Corp. and Fortis Insurance Co., although regulations require that the policies they sold must be honored. Complaints about long-term care policies rose to 2,472 nationally in 2005, up from 2,175 in 2004 and 1,755 in 2003, according to the national insurance commissioners group.

The Smiths case, regulator Praeger said, is a lesson to those considering a long-term care policy. You want to make sure it has the most flexibility possible and that help can be delivered in the most settings possible.

Vera Smith moved to Los Angeles from Tennessee in 1945 with $1 in her pocket, her daughter said, and eventually saved enough from jobs as a cleaning lady and a school cook to buy her house.

The policy she bought in 1998 allowed her to stay in her own home even after she was diagnosed with Alzheimers disease six years ago, paying as much as $100 a day for caregivers. But after she was hospitalized with a severe urinary tract infection in January 2005, Smith grew so frail that her physician said she needed continuous care. The family decided she should move into her daughters Phillips Ranch home, where she had added a room to accommodate her mother, equipped with grab bars and a wheelchair ramp.

Thats when insurer Penn Treaty stopped paying for caregivers, daughter Veray said, arguing that the residence did not qualify as a home under the terms of her policy. Veray said her mother now has arthritis, diabetes and suffers from the aftereffects of a stroke. In recent months, she also was diagnosed with bladder cancer.

The suit Veray and her mother filed in Pomona (Calif.) Superior Court last month accuses Penn Treaty of breach of contract, bad faith and unfair dealing.

Smith, who holds power of attorney for her mother, said she notified Penn Treaty of her mothers change of address upon her discharge from the hospital and that her mother would be leasing the room for $100 a month.

A month later, Smith received a letter from the company denying her mothers claims for home helpers, explaining only that your current residence does not meet the policy definition of a home.

I sent them a copy of the rent checks, pictures of my mothers room, the building permit from the city, and daily care-giving notes, she said. But they kept saying no.

Linda Carraghan, an attorney with Penn Treaty, declined to respond to the Smiths allegations, saying only that company policy is not to comment on litigation.

About The Author

Anthony Cruz has been marketing for his clients for over ten years through his media contacts. Visit http://www.darraslaw.com/ for additional information.

By Anthony Cruz

The number of LTC policyholders has increased 21% annually and now there are approximately six million LTC policies in the United States. Unfortunately, in the same period of time, the number of insurance companies selling LTC has been declining.

The biggest concern of all is the possibility a claimant could be wrongfully denied coverage when they need it most, says Darras. So, it is vital that every consumer carefully research their choices and get reliable advice and a sound second opinion so that they and their families are richly protected.

Basic Benefits

Understanding this relatively new product includes learning its benefits for skilled, intermediate and custodial care, Darras says.

Darras describes three benefit categories as:

*Skilled care must be prescribed by a doctor, delivered by a registered nurse and available 24 hours a day.

*Intermediate care refers to occasional nursing and rehabilitative care under the supervision of skilled medical personnel.

*Custodial care involves assistance with the activities of daily living (ADLs), such as bathing or eating that can be provided by someone without medical skills and is usually provided in residential care homes or to individuals in their own homes.

Look for policies that pay for all three categories including care by non-professionals, such as family members or friends, Darras says. These are the policies that get the most use.

Understand that there are two ways benefits are paid, either on an indemnity or reimbursement basis.

With an indemnity policy, the insured is paid the daily or monthly benefit regardless of the actual charges, Darras says.

A reimbursement policy will not pay more than the actual charge, regardless of the maximum daily benefit amount. Any unused portion may be carried over from one period to the next.

Choosing a Carrier

You may find that the most important decision you make may very well be the carrier you select.

Choose your LTC insurance carrier wisely and do plenty of research. If your insurance carrier goes out of business, when you need the coverage most, those around you suffer and must go without, says Darras.

Here is Darras checklist to help select a good carrier:
*Research the Companys commitment to Long Term Care, how long have they been selling their policies? How many new policies do they bring to the market in your state every year? How often have they requested premium increases and at what per cent?

*Check with Departments of Insurance in your state and others
*Check the overall financial strength and size of the Company
*Review their annual reports
*What kind of media coverage are they receiving and for what?
*Current legal actions against the Company or punitive damage verdicts in the past five years
*Does the Company promote rate stability or do their rates creep?
*Check their claims payment record
*Any market-conduct investigations or class actions making news?
*What would happen to your coverage if the Company is sold or goes out of business?
*Do they offer indemnity or cash benefits?
*How is Long Term Care defined?
*Is there a provision for temporary Long Term Care?
*If you need Long Term Care can you have it provided
*In your home?
*In the home of a family member?
*In an adult care service facility?
*In an assisted living facility?
*In a hospice facility?
*In a nursing home?

Custodial care is provided by someone who is not required to be licensed or skilled medical personnel.

Intermediate care refers to occasional nursing and rehabilitative care under the supervision of skilled medical personnel.

Skilled care is the provision of services and supplies that can only be given under supervision of licensed or skilled medical personnel.

It is vital to get competent, reliable advice and a sound second opinion so that you and your family are protected. Your familys financial future should rest easy with the security of your well-researched decisions.

About The Author

Anthony Cruz has been marketing for his clients for over ten years through his media contacts. Visit http://www.darraslaw.com/ for additional information.