What Is Critical Illness Coverage

Truck drivers face some dangers on the job. One common risk is called a “catastrophic illness.” A catastrophic illness means that a driver for a for-hire trucking or a private carrier has a life-threatening medical condition that will not improve with less than six months of benefits without making him unable to work. Often, these conditions include cancer, heart attack, stroke, neurodegenerative diseases such as Alzheimer’s and myasthenia gravis, and more. Truckers deserve coverage like anyone else because they provide such an essential service.

Things covered by a critical illness policy

Truck drivers are living an exceptionally dangerous lifestyle. Constant driving coupled with little downtime makes it seem like a miracle when they can leave the profession whole. However, their bodies are subject to the same wear and tear as the rest of ours and they suffer injuries under unfortunate circumstances. Having proper health insurance is one of the key components of keeping truckers employed and alive. Let’s take a closer look at what coverage is available for these professionals.

How to start on your own?

Truck drivers working long haul routes are uniquely exposed to side effects of stress, lack of punctuality, and interruption due to busy schedules. With so many tasks you need to accomplish at work each day routine becomes quite difficult especially if it is your first time driving for your company.

When are the time to separate work and personal life?

For truck drivers, there are many perks. One perk is being able to keep the business rest assured knowing that they are fully covered for any problem that may arise on the job. Since the late 1800s, truck drivers have not had access to life insurance options that are offered to all employees. This made it susceptible for truckers to have financial difficulties because without their families or survivors always having their support, many cannot afford grieving costs like funeral and burial expenses.

Fitness vs. Health Insurance

LIfe insurance for truck drivers provides safety and security in case of illness or catastrophic financial loss so most people purchase it before receiving a physical.  With the age-old debate in the driver’s seat, driver’s coverage is in need of improvements to create more balance in their healthcare costs. There are many factors that go into determining when an individual will be “eligibile” for health insurance, which includes life expectancy and whether they are able to swim or lift large objects. 

Truck drivers are uniquely positioned with having to handle much more than driving; driving is only part of their profession. Accordingly, because of the many factors involved in being a truck driver, they may have a higher chance of being eligible for coverage.

The post Critical Illness Coverage: Why Truck Drivers Need It appeared first on Tech Kalture.

Life insurance is something you purchase to safeguard your lifestyle or quality of life in the event of an unanticipated event to avoid excessive hardship.

You pay a fee to an insurance company for anything you wish to insure, and if something goes wrong, they will financially compensate you.

Life insurance calculator

The life insurance calculator calculates how much life insurance coverage you’ll need based on your current assets and obligations. If you need assistance figuring your assets and debts, there are extra calculators after this post to assist you.

Before obtaining life insurance, determine how much money your family would require if you die unexpectedly. Estimating the amount of life insurance you’ll need; might assist you to avoid buying too little or too much. To assess your life insurance needs and select the best coverage for you, follow these steps.

1. Calculate Your Immediate Obligations

The first step in estimating your life insurance policy requirements is to tally up all the expenditures that must be covered immediately following your death. Funeral bills, estate taxes, and school debts are all examples of this.

For example, while estimating his life insurance needs, John adds up his medical expenditures, projected burial costs, outstanding house payments, and school loan debt. He owes Rs. 4,45,000 in medical expenses, expects his burial to cost Rs. 6,30,000 (based on the average cost of funerals in 2016), owes Rs. 89,01,300 on his house, and has a Rs. 22,25,300 student loan amount.

Rs. 4,45,000 + Rs. 6,30,000 + Rs. 89,01,300 + Rs. 22,25,300 = Rs. 1,22,01,600

2. Calculate How Much Money Your Family Will Need

Following that, you must determine how much money your family will require to continue living as they do now, even after your death. You don’t want them to make significant lifestyle adjustments while they’re grieving, so this stage is critical. You may determine this by multiplying your entire yearly income (including Social Security) by the number of years you’ll need to supply it.

Add your existing savings and investments (excluding retirement funds), as well as your current retirement savings and the amount of any current life insurance policies, to this total (such as a work policy). If you plan to pay for your children’s college education, make sure to include enough money to cover each child’s tuition.

Example: John earns Rs. 59,34,200 per year and thinks he will need to support his family for the next 12 years (until his kids go to college). His current savings and assets total Rs. 18,54,400 and he has a Rs. 7,41,780 retirement fund. His employer provides him with a term life insurance policy that pays out Rs. 74,17,800 in the event of his death. He has two children aged six and eight, and he intends for each of them to attend a public institution for around Rs. 18,54,400 per year (based on the average yearly cost of attending a public university in 2016).

(Rs. 59,34,200 x 12) – Rs. 18,54,400 – Rs. 7,41,780 – Rs. 74,17,800 + (Rs. 18,54,400 x 8) = Rs. 10,25,000

3. Consider Your Spouse’s Income

If your spouse continues to work after your death, you can deduct their earnings from the total amount of life insurance you believe you’ll require. Remember to remove the expected yearly income tax from their monthly salary.

4. Total Coverage Estimate

You’re now ready to calculate your total. Remove your total from step one from your total from step two, then subtract your total from step three.

Alternate Methods of Calculating Life Insurance

The guidance above is one of the more detailed techniques for calculating your life insurance needs. Here are a few more methods for calculating how much life insurance coverage you’ll require:

• Multiply your income by 10
  Multiplying your income by ten is a straightforward approach to estimate your life insurance This technique is a little out of date and does not consider your family’s requirements or money, but it can help you generate a quick estimate.

Sushma, for example, earns Rs. 74,12,200 each year. Rs. 74,12,200 multiplied by ten equals Rs. 7,41,22,000. Sushma will require a Rs. 7,41,22,000 life insurance policy.

• Your income times 10 plus college expenses 
  Another fast approach to determining your insurance requirements is to double your income by Rs. 7,41,220 for college expenditures per child.

Sushma, for example, earns Rs. 74,12,200 each year. Rs. 74,12,200 multiplied by ten equals Rs. 7,41,22,000. Sushma is the mother of three children. Rs. 74,12,200 multiplied by three is Rs. 2,22,36,600. Sushma will require a Rs. 9,63,58,600 life insurance policy.

Tips for life insurance calculations

Keep the following guidelines in mind when you determine your coverage requirements:

• Consider purchasing life insurance as part of an overall financial strategy. This plan should include future expenses, such as education costs, as well as the increase of your income or assets. Once you have that knowledge, you can map the life insurance requirement on top of the plan.
• Don’t cut corners. Purchase somewhat more coverage than you think you’ll need rather than purchasing less. Remember that your income will most certainly grow over time, as will your costs. While you can’t predict how much each of these will rise, having a cushion ensures that your spouse and children may continue to live their lives.
• Discuss the numbers with your partner. How much money does your spouse believe the family would require to survive without you? Do your projections make sense to them? For instance, does your family need to replace your whole income or only a piece of it?
• Consider purchasing numerous, smaller life insurance plans rather than one bigger policy to adjust your coverage as your requirements change. This can lower total expenses while guaranteeing appropriate coverage at all times. You might, for example, get a 30-year term life insurance policy to protect your spouse until your retirement and a 20-year term policy to protect your children until they graduate from college. Compare life insurance rates to get an idea of how much it will cost you.
• Parents with small children should pick 30-year terms over 20-year terms to allow them more time to accumulate money. A longer-term means you’re less likely to be taken off guard and have to look for coverage again when you’re older, and premiums are higher.

So, these were the measures that you can follow to calculate the power of compounding.

The post Here’s how you can calculate the amount of insurance you would need in the future appeared first on Tech Kalture.

Things not covered by a travel insurance policy 

1. Pre-existing illnesses 

Most insurance providers don’t provide coverage for a person when he/she is having pre-existing illnesses. They have a look-back period ranging from 60 to 180 days and a person should be aware of them properly before buying a policy. If a natural calamity strikes in a country, then people are traveling at their own risks. Therefore, it is wise to know whether a policy has any pre-existing conditions or not.

2. Adventure sports and activities

Some people prefer overseas travel to spend holidays with their family and children. At the same time, a travel insurance plan doesn’t provide coverage for adventure activities and sports. 

3. Bad weather conditions 

A travel insurance plan doesn’t offer coverage for the cancellation of trips caused by bad weather conditions. Hence, a policyholder should plan his/her plan after knowing the climate and other possible problems from different sources. 

4. Pregnancy and childbirth 

Most insurance providers don’t provide coverage for pregnancy when a woman gives birth to a child while traveling. Anyone who wants to plan their trip with a pregnant spouse should consider checking the same in advance before purchasing a policy. 

5. Last-minute changes

Those who want to plan their trip to overseas countries should fix their itinerary with their tour operator to avoid any delays. A travel insurance company won’t cover any losses when the itinerary undergoes some changes. However, policyholders can contact a tour operator to know the reasons for changes and compensation in detail.

6. Losses due to mental or emotional disorders

Travel insurance won’t cover losses caused by mental or emotional disorders including a suicide attempt. It doesn’t provide coverage for depression, bipolar disorder, schizophrenia, and other psychiatric problems. 

7. Losses for intoxication problems 

Travel insurance companies don’t offer any coverage for losses caused by drugs or alcohol intoxication problems. Smokers and alcohol drinkers don’t get any money when they want to claim the amount. 

8. Unapproved health conditions

It becomes difficult for a policyholder to get coverage for unapproved health conditions because travel insurance providers are very particular about medical claims. A person who wants to buy a plan for the first time should know the details online and other sources that will help make the right decision. Moreover, they show ways to select a plan which suits the requirements and budget of a person. 

9. Medical treatments or procedures

Some people like to undergo medical treatments or procedures for certain health issues. At the same time, having a travel insurance policy won’t help them because insurance firms don’t provide coverage. 

10. Security delays or overbooked flights

A travel insurance plan won’t protect policyholders when they miss a flight due to long airport security lines. It also takes no responsibility for lost reservations and a person should contact a tour operator for solving this problem. New policy buyers should read the terms and conditions while purchasing an insurance policy. 

How to pick the travel insurance policy?

Anyone willing to buy a travel insurance policy should know the inclusions first and the coverage that gives methods to plan travel without any hassles. Since the coverage may vary from one company to another company in the markets, it is necessary to compare them with more attention. A policy buyer should also evaluate the reputation of a company while buying a travel insurance plan. Choosing the best insurance helps a policyholder enjoy a trip with family and children. It even provides ways to ensure high protection from financial loss.

Buying travel insurance plans online

Customers can buy a travel insurance plan online after comparing the quotes from multiple companies. Care Travel Insurance offers a variety of plans for policy buyers by addressing their essential needs. It provides ways to find a plan that comes with the best features to plan a trip without any hassles. The company makes feasible ways to schedule a trip to other countries at the right time to avoid stress and other problems. Also, a policy buyer can select a plan at affordable rates. Excellent customer care is available from the company allowing customers to know more about the plans and other things in detail that help invest money according to needs. 

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Term Life Insurance Premiums Truth

Term life insurance is the least expensive type of policy, at least as far as the monthly premium is concerned. How term life insurance works is often misunderstood.

Many people believe that the “term” applies to how long the policy will be in effect. In truth, though, the term refers to the number of years the policy is guaranteed at a specific monthly premium. For example, a man buys a 20-year term life insurance policy at age 32. In reading the fine print, he realizes the policy is actually valid until he is 100 years of age. However, after the 20-year term, the insurance company can (and most likely will) raise the monthly premium. How much it increases depends on the company, but the predetermined rate is usually buried somewhere in the policy’s fine print.

How Insurance Companies Make Money on Term Life Insurance Policies

The additional premiums may be so exorbitantly high that the insured has no choice but to let the policy lapse. In the example above, this would mean the man would have to either pay the new, higher premium, or qualify for a new policy at age 52.

Insurance companies collect the premium for the term of the policy, but don’t pay a death benefit unless the insured dies within the life of the term. If the policy lapses, all of the premiums paid into it are wasted. In order to qualify for a new policy, the insured will probably have to undergo a medical and will pay higher rates reflecting their age.

Cash Value of Whole Life Insurance Truth

Whole life insurance premiums are guaranteed for life. Monthly premiums are usually significantly higher than term life premiums. However, the rate will not increase later in life, the insured will not have to re-qualify at some point, and the policy builds cash value.

This is how the secondary life insurance market works: Investors pay for the right to assume the policy. They pay a cash settlement to the insured, in exchange for the right to collect the settlement on the insured’s death. It is a 100% fail-safe investment for the policy buyer, and the insured receives a large sum of cash to pay for retirement living expenses, special care, etc.

Choosing Between Two Types of Insurance Policies

While the benefits and drawbacks of each type of policy seem clear, deciding which policy to buy isn’t so simple. The decision must consider such factors as age, expendable income, children or other responsibilities, other investments, and overall health.

An insurance broker can be a great source of information when investigating different policies. However, a solid understanding of the basics is critical in ensuring insurance policy seekers end up with a policy that reflects their wants and needs, rather than one that provides a large commission for the selling agent.

How to Convert Insurance Policies

Converting term life to whole life insurance is a good idea for most situations. It is like converting the rewards of 777 casino into insurance policies. Term life insurance is less expensive. It is usually bought when the insurance policyholder is not able to afford whole life insurance but needs to cover mortgages or final expenses.

Though more expensive than term life, whole life insurance does offer families policy loans and cash value accumulations. If policyholders can manage to pay the higher insurance premiums associated with it, switching to whole life insurance can be a good investment.

Find Out if One’s Term Life Insurance is Convertible

The first step in converting term to whole insurance is to discover whether it is even possible to do so. Reading a family’s insurance policy can help determine this. Another option is to contact a term life insurance agent for assistance when interpreting policy literature. If a term policy is not convertible, but is renewable, it is possible to renew but not convert insurance policies.

Inform an Insurance Agent

If conversion is possible, inform an insurance agent about the intention to do so. Check with this agent to find out about available whole life insurance policies, as well as if the agent can offer the specific policy a policyholder is interested in.

Weigh the Options When Converting to Whole Life Insurance

Invest in a whole insurance policy that offers flexibility in changing the policy protection length, face amount and premiums. Choose modified whole insurance for lower than usual premiums in the first couple years that can be made up for with higher premium rates afterward, when a positive financial situation shift is expected.

Select a limited-pay whole policy if interested in paying premiums for between 10 to 20 years and then having the policy be valid and paid for afterward. Choose joint life and survivorship or joint life insurance policy if a spouse is also in need of insurance.

Meet With an Insurance Agent

Schedule a time to meet with an insurance agent. Review the family’s current policy very carefully when together, as well as the newly available whole life insurance policy options.

Meet With Insurance Policy Beneficiaries

Meet children or other intended beneficiaries to involve them in discussions about which insurance premium to ultimately invest in. Include beneficiaries in meetings with the insurance agent. Involve them in deciding how insurance payouts will be made.

Provide the Insurance Agent Another Premium

The last step in converting term to whole life insurance is to provide the insurance agent with another premium. Do this only if necessary (depending on the value of conversion assigned to a policyholder’s previous term life policy and the price of the chosen whole insurance policy).

Converting term to whole life insurance is generally a good idea. Make sure to review all the options involved thoroughly with an insurance agent and beneficiaries to make the best conversion decisions.

The post Whole vs. Term Life Insurance appeared first on Tech Kalture.

Have a look at the actual evaluations and also chats between insurance clients who are common people as you and you will probably achieve a lot of information into discounted prices available in the market. The actual product and earn from the car or truck can be another good idea. Enquiring regarding further insurance coverage within plans you’ll have taken on the same automobile may also be valuable.

Cheap Auto Insurance Cost

Getting a smaller, more fuel-efficient car will pay off in the long run because you will get cheaper auto insurance costs. Once you compare auto insurance rates, check your policy to see how much comprehensive and collision cost you, and make sure that if you drop the coverage you could afford to repair or change the vehicle on your own.

You may also realize that Florida has some driver-friendly car insurance laws. Below you will find some tips on locating great insurance deals. First of all, drivers in your state are lucky. Florida is a “no fault insurance state.” This means the liability of at fault drivers is greatly reduced. These laws encourage the insurer to pay quickly to avoid litigation. Consequently, this helps to keep auto insurance rates lower than in many other states. In order to find the best and lowest rates, it’s a good idea to begin your search for Aflac vehicle insurance.

In Florida, Drivers Must Carry Some Amount of Insurance

The first thing you want to think about is how much coverage you’ll need. While the minimum may cover small damages, it may not be enough to cover medical costs or other complications from an accident. This is why you want to consider carrying more than the minimum coverage.

For many drivers in Florida, auto insurance is cheap enough that carrying some additional coverage is affordable. The most common types of additional plans most people choose are Bodily Injury Liability Insurance (BIL) and Physical Damage Coverage. These types of coverage offered additional projection should medical costs or heavy repair and replacement costs are incurred.

Which auto insurance rates options are most important for you? Aflac auto insurance company is facing with hard competition in their industry so that it is very likely that they will give discounted auto insurance rates to be able to close an agreement with you. Carinsurancenomoneydown.com will help you to lessen the monetary obligations of auto insurance and still receive extensive coverage.

Florida Auto Insurance Companies Are Plentiful

This is good for an auto insurance shopper, as this makes the competition fierce. Check out the web and get at least three different quotes. When reviewing the quotes you get, be sure to weigh the costs vs. the benefits. Sure, that cheaper policy may save you money. However, the slightly more expensive plan that offers roadside assistance might be a better deal. Nothing is worse than being stuck on the side of the road in the middle of the night.

Also, don’t be afraid to tell an insurance company that you found a lower rate elsewhere. They may be able to match it or better! You may also want to check reviews online before purchasing a policy. Saving a lot of money may not be worth it if it means shoddy customer service.

Some of The Aspects That Determine Your Florida Auto Insurance Rate

Knowing what your hazard variables are, and being ready with the information before you request an Aflac Auto Insurance quote, will help you to get the best rate possible. Zero in on the suitable Florida auto insurance rate for you. The area you live in, affects your auto insurance rates due to the fact that one area may have a higher incidence of claims than another area.

Car Insurance Rates with Bad Credit No Cost Helpful Info

Most of the girls love to go shopping until all of us fall. In relation to cheap car insurance no money down, nothing is as helpful because doing your research for maximum timeframe. Women undoubtedly wish to look and also detecting out there a good deal is surely an exciting potential customer. However, hunting around regarding vehicle insurance isn’t the easy spend some time for a lot of. It is however, vital that you do that and you will probably surely come across some great provides along with rewards. It is not necessary to produce a zillion diverse phone calls or go to a number of organizations for top level provides. Technology has created things simple permitting people to merely signup on the web by using a vehicle insurance site.

Don’t merely without consideration restore the present Florida auto insurance it’s more advisable to think about any alternative rewards you happen to be eligible with regard to after a rebirth. This means speaking with an Aflac insurance plan provider. Supplying information about the automobile you have and also other requirements you are looking at once you search for a trustworthy auto insurance internet site may also be a good beginning.

Clean Driving Record

There are rewards for being a safe driver, and one of them is lower insurance rates. Speeding tickets can also impact your insurance premiums. Therefore, if you want to pay less for insurance, drive carefully and don’t speed. Saving money is probably better than trying to save time by rushing to place-to-place!

Give your information online just once and compare Florida auto insurance rates online from several well reputed carriers. Searching for auto insurance quotes online has an added advantage of not letting you be limited to only a few insurance companies for your auto insurance needs. Avoid the pressure of a high sales pitch and shop around at your own time and ease by shopping online for rates in Florida with Aflac auto Insurance.

Hold Out Prior to Signing Anything by the End

Checking the quotations through different businesses, no less than at least about three is vital to locating a really good cope on the auto insurance quotations. This does not necessitate that you must sign-up from 3 completely different auto insurance Florida sites. Which has a really good insurance policy website, you can actually obtain information which is different along with via trustworthy companies with a mobile.

This protects a lot of time and does not need you to register over and over with various sites to collect details. What one insurer may consider a high-risk factor while calculating your Florida auto insurance rate, another insurance company may not view as so important. Better coverage deals which were considered rare are now commonplace with online Florida auto insurance rates.

Just Like People Say in the Good Book, Question so You Shall Receive

Age is a key variable in determining auto insurance rates because it likely implies your level of driving experience and ability to react or respond in potential crash situations. The actual cardinal tip in enabling great car insurance quotes Florida is simple, obtain it. Females especially have numerous benefits according to sex as well as get older alone.

Talk with the businesses concerning special offers, special discounts and then any various other bargains you may well be eligible for. It might be quite an enjoyable surprise to view that you’re in fact permitted to be given a superb cope about what you have to buy Aflac Auto insurance.

The post For Drivers in Florida Aflac Auto Insurance Is Cheap appeared first on Tech Kalture.

• India’s total iPhone users receded 10 million in 2018.
• 48 out of 100 iPhones sold in India were iPhone XR during the 2^nd quarter of 2019.

Whether you own an iPhone or are planning to buy one, you should consider purchasing an iPhone insurance plan for its financial safety.

Be it Apple or any other brand, smartphones have become an indispensable part of human life today. Any loss, damage or breakdown can lead to significant problems, disrupting communication and other vital activities.

Reasons to buy a mobile insurance plan for your iPhone

While iPhones are expensive, repair or replacement of their accessories can cost significantly. Besides this, an iPhone insurance policy in India is essential for its features and advantages.

1. Damage due to special perils is costly

Incidents like explosions, fire, lightning, strikes, riots, etc. often cause the iPhone’s screen to damage. You can avail of an iPhone mobile screen insurance policy and enjoy financial coverage against the losses incurred. The benefits are also available in case of natural calamities such as cyclones, floods, earthquakes and more.

Bajaj Finserv offers Pocket Insurance & Subscriptions like Mobile Screen Insurance with attractive features. You can avail of high-value coverage of up to Rs.10,000 at a minimal premium amount of Rs.499. Moreover, the policy covers screen damages caused due to accidental spillage too.

1. Loss makes the device vulnerable 

A stylish casing can protect your Apple smartphone from scratches but not from theft or liquid damage. Although an iPhone comes with top-notch security features, theft or loss makes the device vulnerable to a data breach. Several Apple iPhone insurance policies offer theft protection to deal with such incidents efficiently.

1. Accidental damage makes replacement lengthy and expensive

The best iPhone insurance policy in India provides coverage against accidental damage for the cost of repair and replacement. This prevents you from shelling out huge amounts during these incidents. However, the device must be in your custody when the damage occurred.

1. Robbery and burglary can cause damage too  

iPhone, being an expensive device, always grabs the attention of burglars and robbers. If any such unfortunate incident happens, a mobile insurance policy can provide financial coverage for the losses adequately.

1. Unexpected mechanical breakdown may happen

A mechanical breakdown of your iPhone can be heart-wrenching. However, an iPhone protection plan also covers the replacement expenses in case of a phone screen breakdown.

Apart from the above, there are some other reasons to take a mobile insurance policy –

• You hold a past record of broken, lost or stolen mobiles.
• You rely heavily on the device and need an immediate replacement when damaged.
• Repairing an iPhone in any random place is troublesome and risky. This happens more when you may have lost the bill, or the device isn’t under warranty period.
• Mobile insurance policy can be claimed round the clock, and the process is also easy.

Customers can also buy various other customized policies, such as a mobile charger insurance plan for specific financial coverage for their mobile charger at highly affordable premiums.

Besides smartphones, you can also purchase a small gadget insurance plan for other similar electronic gadgets you may possess.

How to avail a mobile insurance plan?

The process to purchase an insurance policy is quite simple and hassle-free. Visit the company’s official website for an online application form. Submit the filled-up application with accurate details and authenticate your identity with an OTP. Once approved successfully, pay the premium online to complete the procedure.

As multiple payment options are available, you can choose from a host of payment options, including net banking, UPI, mobile wallets, credit or debit cards.

What is the claiming process?

As mentioned earlier, the process to claim insurance plan benefits is uncomplicated. Simply get in touch with the service provider via email or phone and report the incident within 24 hours.

Next, arrange the necessary documents like invoices, bills, claim forms, etc. as required. Note that filing an FIR is mandatory in case of theft, loss or robbery. Ensure to collect the complaint copy, which also works as a vital document.

Needless to say, Apple has created a remarkable position in the price-sensitive Indian market, where 56% of the mobiles purchased are below Rs.10,000.

• iPhone shipments in India grew by 19% in Apple’s Q3 ending July 2019.

Hence, if you are buying an Apple smartphone in 2020, opt to secure your investment financially with the best iPhone insurance policy in India and save yourself from many other hassles.

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