Saturday, November 8, 2008

Health insurance for Alabama residents

One should never take one's health for granted. A person may be healthy one day and the next day may become very sick and need medical treatment urgently, perhaps even to stay alive, not to just get healthy again. If you are unfortunate to fall sick, the required medical treatment may bankrupt you. Do not take risks. Get medical insurance while you are still healthy. If you wait till you get sick, it will be too late. You may not be able to purchase the medical insurance you need.

Do you happened to be an Alabama resident? Is so, try localized Alabama medical insurance. You may be able to get cheaper quote than if you get your insurance that do not know Alabama and its medical institutions.

Thursday, August 28, 2008

Family Insurance

Cost of Medical Treatments

The cost of medical treatments and surgery is soaring and can play havoc with family finance. For example, the cost of spinal stenosis surgery is at least $14,000. The cost of double bypass surgery can be up to $20,000. The cost of hip surgery is a prohibitive $40,000 to $60,000. To get the prostate removed will be from $40,000 to $50,000. With this kind of prohibitive cost, it is very important to have family health coverage. Without any form of family health coverage, a medical emergency within the family can bankrupt the family.

But where to get health insurance? One way is to trawl the internet for private medical insurance quote. Who knows, you may be lucky to chance upon one which give you affordable family health insurance to cover the whole family so no matter who within the family gets sick, the needed medical treatment will be absorbed by the insurance company.

Monday, May 5, 2008

Buy life Insurance for parents

Why would anyone wants to buy life insurance for parent?

This is a bit tricky issue to tackle as normally life insurance premium goes up a lot with age, and if they are parents, definitely they would not be young and the premium would be very high as compared with you, the children. So why would any children want to condider buying life insurance for parents?

Let us analyze what might happen if in the unfortunately circumstance that one of both your parents die one day, which is a certainty. There are burial expenses to think of and nowadays, it will not be cheap and if your parents do not have sufficient savings or had some old, still current life insurance policies, you will have to foot the bills. Then there may be debts to settle.

Insurable interest

If you have the funds, you may think buying parents life insurance is just a simple task. Just go get the parents life insurance rates, assess your abilities to pay, and if within your means, just pay the insurance premium. However, there is a very important principle for purchasing life insurance. The person must have an insurable interest, that is, he has to demonstrate that there will be an element of loss if ever the insured person dies. If anyone is allowed to purchase life insurance for any Tom, Dick and Harry, he or she may have an ulterior motive. Buy a huge life insurance, then murder the person and collect the premium. Obviously this would not be fair to the insurance company and if they ever suspect any motives of this sort, they are not going to allow you to purchase the insurance policy.

Demonstrating your need to take care of the burial expenses is sufficient insurable interest, and although we have stated that the older a person, the more expansive the premium. In this particular case, if you are just insuring for the burial expenses, you may purchase a life insurance policy where the sum assured is just sufficient to cover the burial expenses and the premium can be very affordable.