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1. The biggest financial risk you face is disability.
The chance you might suffer from a long-term disability in your life is about 50%. That means one in two Canadians will experience a long-term disability in their lifetime. The younger you are, the greater the risk. This is because there are many more years ahead of you to work, and the risk of injury is much higher in younger years. If you do suffer from a disability that lasts longer than 90 days, the average time off work is 2.9 years!

2. An Employer group disability plan has many holes.
Even if you have a group disability insurance policy, chances are you don’t have the full coverage you might think you have. Here are a some reasons why your group disability policy might be limited: you earn bonus or incentive income that is not part of your regular salary, and is not insured; your group plan has limits or a cap on monthly benefits, and your earnings far exceed the monthly cap; you are a professional with specialized skills who would be forced to take ANY type of work after 24 months on long-term disability if you are still not able to do the job you were trained for; your group disability policy only covers TOTAL disability, so if you come back to work part time you lose all your benefits. These are all common examples of the limitations of group long-term disability insurance.

3. Your health is your wealth.
In order to go to work each day and be effective we all need to be healthy. It seems like a cliché, but you really don’t know how valuable your health is until you’ve lost it. When suffering from an disabling injury or illness, it becomes difficult to go to work each day, and income can be reduced or cease altogether. Would your bank understand if you can’t make the mortgage payment because of a disability? Will the utilities company forgive your bills? The answer is NO – and no bank will lend you money while on disability. Remember, you have to buy insurance while you are still healthy. Once you become sick or hurt, you become uninsurable.

4. You need your income to maintain your lifestyle.
The lifestyle you are accustomed to, and the future dreams you are planning for, depend on your ability to earn income today. The retirement plan you have designed needs to fed each month with your savings. Buying that house, cottage by the lake, RV, etc. all depend on you continuing to earn an income. If income suddenly stops, your future dreams could also go up in a puff of smoke if you are not insured.

5. You don’t want to do a job you hate.
When you are sick or hurt, do you want to be changing jobs? Maybe you can no longer do the job you love, but do some other, easier job to earn at least some income. Would you want to be forced into doing a job that is beneath your skills and abilities because of a injury or illness? Without proper long-term disability insurance, this is a reality for many people. Even with a group benefits plan, after 24 months on long-term disability claim for your REGULAR occupation, you will be reassessed to see if you can perform ANY occupation, and if so, be forced into that kind of work. This is a terrible situation.

6. You are without disability benefits at work or are a self-employed business owner.
If you are self employed or working for a company without any type of disability insurance, you are total exposed to income loss. For almost everyone in this situation, long-term disability insurance is something on their radar, but often just doesn’t get done. People procrastinate. How would you feel if you became disabled while you were, “thinking about getting disability insurance.” Also, people often find the cost of long-term disability insurance too high, and wish they could have the cheap stuff offered through employer group disability policies. Actually, the cheap group disability insurance only seems inexpensive to the employees, because the employer is carrying the bulk of the premiums as an added benefit for working there. There is no cheap insurance. The cost for insurance should strive to be fair. If the insurance company would lose money selling the policies, then they just wouldn’t sell them.

7. You can’t buy insurance once you become unhealthy.
As stated before, you must buy disability insurance while you are still healthy. Once your health changes, due to a serious disabling injury or illness, you suddenly become high risk. Many people have found out the hard way that they are a high risk for an insurance company. Once you become a “risk statistic” to the insurance companies, one of two things can happen. You could be rated, and asked to pay much higher premiums than a health person for your coverage, or you could be declined – meaning the insurance company doesn’t want to take on your risk. If you leave the doctor’s office feeling uncertain about your future, the insurance company will feel the same way. Get insurance NOW, while you’re still healthy.

8. You can get a personalized disability plan for you.
There are many different types of disability insurance plans. They are highly customizable and can fit your unique needs and budget. There is a lot of complexity to designing the rite disability insurance policy, so be sure to seek out a disability insurance specialist in the insurance industry. There is one thing that is simple – you can’t insure more than you earn. No insurance company wants to give you a reason to stay home, therefore they typically offer about two thirds of your prior earnings in disability insurance benefits. There is an incentive to go back to work: you can earn more! If getting the maximum amount of insurance is too expensive for you, you can always take a bit less. It’s better to have some coverage than none at all.

9. You’re worth more than you think.
Do you know how much you are worth? Have you ever thought of yourself as an economic engine, able to make money for many years to come? Well, if you did, you would see how valuable you are. As an example, if you were 35 years old, making $75,000 and planned work another 30 years, your earnings are worth over $3 Million (assuming a 2% annual increase). You’re definitely worth a lot more than your house or your car, and you don’t think twice about insuring those assets. Insure YOURSELF – you’re definitely worth it.

10. If you’re a gambler, disability insurance is a smart bet.
If you like to gamble, you could make a wager on getting or avoiding a disability. Here is how it works. If you bet on having a long-term disability and buy a policy one of two things can happen (50/50 chance): you either become disabled and get a HUGE financial benefit from your plan, or you don’t get disabled and lose the small amount of monthly premium you spent. If you bet on not having a disability and don’t buy a policy, one of two things can happen (50/50 chance): you don’t get a disability and have a few extra dollars each month to spend or save, or you do have a long-term disability, and possibly lose everything you have when you lose your income. Think about the chances and the outcomes carefully, and then you decide how you want to roll the dice.

Article by Mitch Reynolds, MBA
President, Life Guard Insurance
www.LifeGuardInsurance.ca

1. In bank you can remove money from the account at any moment and in the insurance company preschedule cancellation of the contract is unprofitable to the client.
2. In difficult reality situations (for example, accident) the person having money in bank – spends own means and from them remains nothing. Hence, achievement of the purposes for the sake of which investments have been made is postponed on uncertain term.

Money placed in the insurance company at the above-stated situation remains whole and safe and the client receives over it the insurance sum on which the contract has been concluded.

With what to begin?

As insurance agents are tremendous “storytellers” and stories which they tell to the clients force to shudder even the most burnt sceptic it is necessary to be always on the alert and to do the program only for those sums which you for yourselves have planned and payments on which will not be for you too burdensome.

If never had experience of the conclusion of similar contracts, begin with the minimum program. It is just necessary to learn to live what to postpone what sum for life insurance.

And differently – having fallen into a reverie and having come off the earth it will be heavy to you to accumulate annual payment. Start with the possibilities. Life insurance programs should not make in yours the financial plan of more than 10-15 % of the income if it is a question of small incomes.

When we speak about investments of money and memory programs of life insurance can be carried to this sort of investments always it is necessary to have exit strategy.

It is necessary to mean that memory insurance programs are long-term, and, as a rule, the exit within first three years practically is not possible or will cause serious losses – as the redemption sums can strongly differ from the size of the enclosed means.

Putting in such programs, we count on long cooperation with the insurance company and it is clear that to draw out money we do not gather because there is a purpose and it should be realised.
The insurance market develops in Ukraine, the legislative base is developed that does mutual relations of the insurer and the insurer more adjustable and transparent, therefore there is a confidence that all it will work how all over the world it works.
The insurance is very important means in the vital plan of any person. The problem with the insurance is that she cannot be bought when it is necessary.

And if you do not want that quality of your life depended on unforeseen reality situations which can occur besides your desire “include” in your vital plan civilised methods of protection which are life insurance programs.

Those who are hunting for the health insurance quotes should keep in mind that right now we live in the world where info makes life easier.

That is why if you are properly armed with the health insurance knowledge in your sphere of interest you can rest assured that you will always find the way out from any bad situation. So, please make sure to visit this web site on a regular basis or – best of all – sign up to its RSS feed. Thus you will have your hand on the pulse of the freshest info updates here. Blogging can be helpful, you just need to understand how to use blogging to find the best in the sphere of cheap health insurance and around this topic.

Domestic insurers can suggest to conclude the contract of urgent life insurance for the term from 1 till 40 years. The size of insurance payment can vary also but minimum starts from 500 grivnas. The maximum size can be stipulated with the insurance company in each separate case though on the average in the domestic market of insurance. Experts advise this $40-45 thousand that the size of insurance payment was established in an equivalent at least 3-4-year wages of the insured person. After all such sum can be important enough help for a family in case of death of the supporter.

The insured client receiving insurance protection of a life can carry out insurance payments or sometimes (monthly, quarterly, everyone half a year) or one time. All depends on the size of the established insurance award and from policy period of validity.
It is important that receive insurance payment can relatives only in the event that the supporter has died during an insurance validity. That is if the insured person in health has lived till the end of an insurance validity (10, 25 or all 40 years from the moment of the contract conclusion) his family cannot count on payment of the grant.

If the insured person in health has lived till the end of an insurance validity the family cannot count on payment of the grant.

It also is the basic difference of the given kind of insurance upon memory life insurance. Then that urgent life insurance does not provide gradual accumulation of payments. There cannot be a speech and about an investment component. Proceeding from it it is necessary to be ready to that all insurance payments (if during the insurance contract, fortunately, no insured events have occurred) will not be returned to the insured person. It as showdown for the sake of a financial family support service on a case of death or possibility of reception of additional guarantees for compensation of the credit for a case of serious disease or physical inability of the supporter. It is necessary to remind that similar nuances also depend on conditions of the concluded contract.

Urgent life insurance is effective enough tool of protection of financial well-being of a family on a case of sudden death or a serious illness of the supporter. However it does not provide gradual accumulation of payments and has no investment component, despite the fact that what to issue the contract it is possible for the term from 1 and till 40 years. Also the client can choose the size of the insurance award depending on solvency and duration of term of the contract of insurance. It is not necessary to forget thus that if insured event has not occurred to return the enclosed means it will be impossible.

Those who are hunting for the health insurance quotes should keep in mind that today we live in the world where information makes life easier.

That is why if you are properly armed with the health insurance knowledge in your sphere of interest you can rest assured that you will in any case find the way out from any bad situation. So, please make sure to track this site on a regular basis or – an ideal solution for you – sign up to its RSS. In such an easy way you will have a direct shortcut to the latest info updates here. Blogging can be helpful, you just need to understand how to use blogging to find the best in the sphere of cheap health insurance and around this topic.

Each person in the life faces fear. He is afraid of death, is afraid of loss and property damage, is afraid of illnesses, and more many that is afraid.

Than all these “insured events” for the usual person turn around? As a rule, the big financial losses. If something occurs and there is usually not so right moment, when the person experiences any financial difficulties to have to get into debt and then still for a long time “to lick wounds” and to get rid of burden of debts and mental holes of the big financial losses.

The person cannot think that all the most terrible can once occur.
We have not got used to shift the problems with their heavy financial consequences on someone of another. We disentangle.

All over the world people arrive differently. All of them shift financial risks on shoulders of the insurance companies and minimise influence of those events which occur from time to time in a life of each person.

When we speak about insurance more often people discuss the car insurance because them have obliged it to make. Very few people insure the life, because still do not want and are not able to plan a life for years forward and hope that can “outwit” the probability theory.

Why we need life insurance?

As the life is the most expensive that the person has the risks connected with death should be insured.

It is clear that this monetary indemnification is not required to the person but each sane person should think of close people who after premature and untimely leaving from a life can always appear in difficult financial conditions, especially, if it is a question of minor children, aged parents, and also to the wife (husband) on which shoulders serious responsibility for a survival of a family after loss of the supporter will lay down.

And this fact forces people to make a choice in favour of life insurance programs.

Kinds of programs of life insurance which are well entered in the financial plan of any person.

Now the insurance companies offer, except life insurance on defined term, also memory programs. It in many respects allows to solve a problem of creation of a financial reserve as parts of the financial plan of the person which has decided to construct a monetary fortress for the family.
Such programs allow not only to have the insurance on a death case but also as a result of constant payments to collect the necessary sum (for example, on formation of children or apartment purchase) to certain term.

Many memory programs allow to solve questions of a provision of pensions that is especially important in the conditions of proslipping of pension reform and its possible curling.

Those who are hunting for the health insurance quotes should keep in mind that nowadays we live in the world where info makes life easier.

That is why if you are properly armed with the health insurance knowledge in your sphere of interest you can be sure that you will in any case find the solution to any bad situation. So, please make sure to track this site on a regular basis or – the easiest way to take care of it – sign up to its RSS feed. In such an easy way you will have a direct shortcut to the freshest info updates here. Blogs can be helpful, you just need to know how to use blogging to find the best in the sphere of cheap health insurance and around this topic.

The list of services of the insurance companies offered for today “covers” almost all cases of a life. At the same time there are new products (for example, urgent life insurance) which cause the increasing interest among our compatriots. That in general and it is natural, considering both increasing solvency of the population and dependence on different everyday disorders.

Urgent life insurance differs from memory life insurance known for all. But to understand nuances of the given kind of insurance services we will address in the law letter to find out features of life insurance as a whole.

Life insurance

According to the Law “About insurance” it is one of kinds of personal voluntary insurance. Such kind provides a duty of the insurer to carry out insurance payment according to the insurance contract in the several cases defined by the same contract. Speech can go about a case of death of the insured person; about a situation when the insured person has lived before the termination of period of validity of the contract of insurance and (or) has reached the age defined by the contract; about accident with the insured person and (or) his illnesses.

Let’s remind that the concept “insured event” means “the event provided by the contract of insurance or the legislation which has occurred and with which approach there is a duty of the insurer to carry out payment of the insurance sum (insurance compensation) to the insurer insured or other third party”.

And if to speak about urgent life insurance one – death of the insured person from illness or the accident can be insured event here only, happened during a validity. After all simplicity of the given kind of insurance also consists in that the client never receives money. Except for a variant when at the contract conclusion possibility to receive a part of the insurance sum on a case of physical inability of the insured person or a serious illness will be designated. But such cases make a reservation, if the insured person has credit obligations to bank. Accordingly and payments will are listed bank instead of the client.

The death of the insured person during a validity urgent with insurance of lives can be insured event only.
Thus hardly the insurance company recognises as insured event death owing to AIDS or venereal diseases. Besides some companies even warn that will not pay the insurance sum if the death of the person has attacked an extent of the first 3 months of a validity of insurance. So it is necessary to be extremely attentive reading offered conditions.

For them the door is closed.

More often the insurance companies accurately enough limit the list of persons with which can sign the contract of urgent life insurance. So, to within 100 % it is possible to guarantee that the persons recognised when due hereunder incapacitated, invalids ? – ?? groups, and also those who are on the account in narcological, tubercular and psychoneurological specialised clinics or the centres on preventive maintenance and struggle against AIDS do not become clients.

Moreover each client wishing to conclude the contract of urgent life insurance should pass medical examination. On its basis the insurance agent and the client can be defined with nuances concerning the size of the insurance sum and contract term.

In attention the age of the client undertakes also: a minimum – 18 years, each company establishes a maximum independently. Some agents agree to conclude the contract only with persons to 65, others without problems will talk about possibility of registration of the policy of urgent life insurance and with the client is elderly till 85 years. Though last variant practises abroad – Japan, the USA, Canada.

Those who are hunting for the health insurance quotes should keep in mind that right now we live in the world where knowledge makes life easier.

Due to this if you are properly armed with the health insurance information in your sphere of interest you can rest assured that you will in any case find the solution to any bad situation. So, please make sure to get back to this blog on a regular basis or – the easiest way to take care of it – sign up to its RSS. Thus you will have a direct shortcut to the latest info updates here. Blogging can be helpful, you just need to know how to use blogging to find the best in the sphere of cheap health insurance and around this topic.