Archive for May, 2009

Finding a Trustworthy and Reliable Insurance Company

Saturday, May 30th, 2009

Insurance is one of those things few of us like to shop for, or even think about, but finding a trustworthy and reliable insurance company is one of the most important tasks for any person. There are of course many different types of insurance, and in many cases there is a specific insurance company that specializes in that type of insurance.

For instance, there are companies who have special expertise in the world of care insurance, while others have more experience in life insurance or homeowners insurance. It is important to shop around at the various insurance companies carefully in order to find the one with the most expertise in the insurance product you need.

Of course there are some insurance companies that sell a variety of different insurance. If you are able to find such a diversified insurance company you may be able to save some money through the purchase of more than one policy. Buying your car insurance, home insurance and life insurance from the same insurance company can make a great deal of sense, especially if there is lots of money to be saved.

After you know what kind of insurance coverage you need, it is important to start shopping around for the perfect insurance company. The financial condition of the insurance company is one of the most important things to look for, since the insurance company will need to have sufficient cash on hand to pay claims in the event of a catastrophe. It is essential, therefore, for the insurance company to be well rated by the various rating agencies in order to make sure that they will be around for the long run. After all, the insurance policy you buy is only as strong as the insurance company that is standing behind it.

If you are hesitant for choosing a reliable insurance company, let Britt Paulk Insurance Agency, Inc. help you. This is a privately held General Agency whose mission is to enhance the customer’s insurance buying experience with high-speed service, improved technology and a dedication to accuracy. Britt Paulk Insurance Agency, Inc offers programs through both admitted “A” or better rated carriers and exclusive E&S markets in all 50 U.S. states with no volume commitments.

From the beginning, the agency specialized in physical damage to property covering agricultural, forestry, and contractor’s equipment in 1988. From there, Britt Paulk Insurance Agency, Inc grew into a multifaceted company offering nationwide coverage in the Contractors, Inland Marine, Aviation, Agricultural, Self-Storage, Marine, and Forestry Industries.

The agency’s plans for the future include adding programs such as: Farm Ranch Owner’s, Motorcycles, and RV’s.

Britt Paulk Insurance Agency, Inc is able to respond quickly and efficiently to agencies due to P.I.C.S., its paperless workflow system. This allows the team to quote, bind, and issue a policy quickly. Britt Paulk Insurance Agency, Inc has also developed OPUS, an Online Policy Underwriting System that allows agents to quote and bind policies online with ease. Currently available on OPUS are the Builder’s Risk, Equipment, Equipment Breakdown, Non-Profit D&O, Marine Cargo, and Poultry/Swine. In the future, all of the programs will be available through OPUS.

Please take the time to review BrittPaulk.com to learn more about the growing General Agency. Britt Paulk Insurance Agency, Inc looks forward to the opportunity of building a relationship with you in the future.

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Credit Insurance

Tuesday, May 26th, 2009

Credit life coverage is actually a type of life insurance that pays off the loan or the remaining balance in case you die. The payment of the life credit insurance on this type of insurance for the credit always goes to the lender as he is the beneficiary of your policy. The credit disability insurance is the type of insurance that makes your monthly credit payments during a certain fixed period of documented medical disability. While this type of insurance can help you keep a good credit report and history, it will not make the monthly payment forever and will not, for sure, pay off all your balance. In such situations it is best to try to get back on your feet and pay by yourself the loan because, as the time passes, interest and insurance charges continue to add up to your already existing balance and you’ll end up paying more than your original credit.

The other two types of credit insurance are: involuntary unemployment insurance and credit property insurance. The involuntary unemployment insurance is very much similar to the disability insurance: the insurance makes the monthly minimum payments for a certain period of time while you are involuntary unemployed. Like we said before is better to not let this situation go on for a long period of time. The credit property insurance is different than all the other insurances in the way that it cancels the debt you owe for the items purchased if the property purchased is destroyed by certain specified risks like: fire, flood, accident, earthquake, etc.

No matter for which one of the above credit insurance you opt, it is most important to read and know the full details of the coverage. This way you’ll be able to know which one of them best suites your needs and select that particular one or maybe a combination of two or more of them. Also, you should consider your financial status before purchasing insurance for the credit. Or maybe you’re considering making several purchases from different places and each one of them asks for insurance. But this cannot be so cost effective. If you have more accounts and intend to insure all off them maybe you should think of buying a traditional insurance; an insurance agent or broker can be of big help in such a situation. He will help you make the necessary comparisons and finally with choosing the right insurance type for you.

Last but not least you have to make sure you qualify for the credit insurance you’re going to buy. These types of insurances are sold without any screening to anyone that makes a purchase on credit. Often, many people do not qualify for the insurance they are buying but the company that is selling you the insurance will not bother asking you if you think you qualify or not. So, it is you, the borrower and the buyer of the insures, that has to carefully read and understand how the insurance works and be fully aware of any special claim procedures or limitation clauses included into the insurance. It is only your responsibility.

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Annual Renewable Term Life Insurance

Tuesday, May 12th, 2009

The word annual means one year, thus explains the meaning of the policy. The term of an annual renewable term life insurance is one year, the death benefit is payable to the beneficiary if the insured dies within the one year period, there will be no compensation if the insured dies even one day after the expiration of the policy.

There are very few people bought this policy because a person who purchased the policy will die in the period of one year is rare case. When a person contracts a terminal illness during the term but survives until the end of the expiration, he will receive no compensation, but because of the illness he will be considered as uninsurable and unable to renew the policy.

So term life insurance policies has solution for this problem, they have included a condition called re-insurability, which means that if this feature is included in the buyer’s term life policy, the buyer will be able to renew his insurance for as long as he wishes, without the necessity of providing proof of insurability.

Therefore if the buyer contracted a critical illness he is considered uninsurable, but if he has bought Annual Renewable Term he is able to continue the policy. Annual Renewable Term has the similarity as the one year term life insurance, and the policy will be able to continue each year for a given period of time, from 10 years to 30 years or more. A person who purchased this type of policy can renew the policy but at a higher premium, as long as he keeps on paying premiums, the death benefit would still remain.

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