Consumer Guide Online

Archive for the ‘insurance’ Category

Its natural for the financial companies to hire telemarketers or outsource their tele-promotional offers outside the US. Now, we can’t ever be certain of the identities of such professionals. Thats why it is advisable that you avoid such calls.

What do I do if someone calls me! At first I’d listen to the person properly and if the things are interesting to me I’d give it a thought. We may have a meeting so that I can see all the documents or proofs associated with the company’s offer and then only I will proceed with it.
I am sure this processes will never harm me, if I talk to such people face to face, see all the documentation and then only move ahead with the deal.

there is no harm in accepting offers from the tele-marketers but make sure that:

* You receive all the documents on the promised date and also get the benefits explained properly to you.
* Also ask them for the address and telephone number of the concerned person, in case you want to visit their office.
* Don’t make any payment before you are not absolutely sure of the authenticity of the company and even if you do maintain proper documents of the transactions.
* Don’t give your bank details to the tele sales executive. Keep a track of all the withdrawals from your account. If you can trace any spurious transaction, report it immediately to you bank.

Insurance scams are present everywhere and health insurance is not an exception. The sales speech sounds so convincing that you fall for that. People often unknowingly walk into the trap laid by the con stars because of their cupidity. Don’t pay them a dime before you become absolutely sure about the existence of the company.

Does anyone know for sure if that’s even possible?

Answer:
I cannot tell you for sure, as this could be company or state specific, but I can tell you that I did not have to put my husband’s or my children’s (who are my contingent beneficiaries) SS # on mine on my work policies or on any others for that matter.

I will say though, that your girlfriends children (I believe I’m correct on this), could certainly dispute this in the event of her death, as could your children (if you have any), should you pass and she is beneficiary, without you two being legally married. It is my understanding that most states would recognize those children as first line heirs. You might want to check that out with an attorney, and a will with it laid out, such as, ‘I intentionally did not have my children as primary beneficaries, and instead chose ‘insert name here’.

The new anti-money laundering program is reviewed and amended by the Financial Crimes Enforcement Network (FinCEN), Department of Treasury

The revised anti-money laundering program requires the insurance companies to report any suspicious transaction of $5,000 or more. However the monitoring is applicable only to the ‘covered policies’. It has excluded the insurance companies from mandatory reporting on less risky policies.

‘Covered policy’ includes- 1) permanent life insurance other than group life insurance 2) annuity contract other than group annuity plan. 3) Policies having ‘cash value’ or investment features.

The program is in effect since May 2006.

H5N1 strain of the influential Bird flu is posing a serious threat to human lives of late. Under the present circumstances, business houses are made aware of taking precautions in order to cope with any adverse conditions. Henceforth, the need arises to perfectly figure out a business continuity management plan and also ensure a research on the key risk indicators.

Questions might arise, keeping in mind the capabilities of some of the insurers in terms of an immobile reinsurance market. Owing to a static life insurance coverage situation and pertaining to the HHS prophecy, the worth of death claims from the flu for group life insurance would amount to $11 billion and $20 billion in terms of individual life insurance, resulting in a sum total of $31 billion.

The insurance industry is adorned by some companies who have a strong financial potential, but at the same time it also has some dark patches in terms of some relatively weaker ones. A ‘severe pandemic’ might just sound too harsh on a small fry to survive.

Under such consequences an absorption of the smaller players by their home state’s insurance department would seem inevitable. This influenza pandemic would certainly invite quite a handful of the industry dilemmas beyond the claims. The count of the aftermath would be gradually unfolded within a span of six to nine months. This in turn might see the investment markets slowly gaining back control within a period of time. An abrupt increase in the workload and a sudden reduction in the workforce would certainly raise a wall in front of the employing insurers.

Some people are of the mind set that what money they can’t take with them they are not going to give their children. This is the type of mindset that says I earned my money and when I go if my kids want to have the same amount of money then they need to work for it.

Personally I would give the majority of my money to my family and maybe 5 to 10% to a charity. But then I am the type of person who has a college fund setup so I can help my nieces and nephews out, and any grandchildren when they come.

A friend of the family has when she dies a stipulation that 20% of her estate goes to I believe it was a cancer related charity. Which for her net worth would come out to 200-400k and the rest is divided between her family.

I have lost a car. It has been stolen from the parking zone. Can you suggest me ways as to how I can revive the car. Or what could be the measures i should take to avoid such happenings?

answer:
It is generally the police that will locate your vehicle. Normally this does not mean they go looking for it but they may release an advisory to look for it with their patrol.

as for preventing it in the future you can get a car alarm, the club for you steering wheel and the club for your break/gas pedal. But all of these are just a deterrent. There is no guaranteed way to prevent vehicle theft. Every method of preventing it has an accompying way to get around it. Oh there is also the gas shutoff switch and ignition kill switches both of which can be bypassed.

So what I guess I am saying is you can add deterrents to your vehicle but no real sure fire prevention mechanism.

Just make sure you file a police report and file a claim with your insurance including the police report.

I am going to have a blood and urine test for insurance purposes. I smoke marijuana often. Will the tests results show that information?

answer:
I believe the results will disclose that information. Even when one of my friends got his latent tuberculosis test results, it was disclosed after all that he was too much into smoking!
This is just a routine test before the underwriters approve your application. But yes, these medical tests if proved positive may increase your initial premiums by a few bucks.
Many life or health insurance company will flat decline your application if any medical testing shows the use of illegal drugs.