 Cheaper Car Insurance For Teenage Drivers? |
Can you help. I priced car insurance for my 16 year old son, and my premium will almost triple.
I know all of you will post that he should just get a job, and that is fine, but I want him ... |
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 Will insurance cover claim if car was stolen and keys were hidden in car...full coverage insurance.? |
Additional Details
I have full coverage insurance. I've heard people say no it won't pay, but it's just something they assume....no one I've talked to who say no, AC... |
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 What are the possible ways of saving money? |
| I am working in Genpact and I am earning a salary less than 10,000. I can save 2000 per month. Can you pls suggest me the best possible and profitable ways of saving my money. Are insurance policies ... |
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 Why is 25 an important age to insurance companies? |
ive been insurance shopping for a Mazda 6. I turn 25 next March and most reps have been telling me that my insurance will drastically degrease when I turn 25. Why is this such an important age?
... |
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 Why does progressive insurance suck so much? |
| i got rear ended in september and still haven't gotten my car fixed. my claim rep doesn't call me back i would call every day for like 4 days and leave messages. one time i called 5 ... |
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 Does renters insurance cover broken windows? |
| My patio door was broken this weekend by a Bocci ball. It came over my fence and right through my patio door. Noone was there to claim responsibility even though I seen it come from the neighbors ... |
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 Are doctors required to tell you about any charges or insurance co-payments before service is rendered? |
Or is it your responsibility to research this before you go in for treatment?
Additional Details
I went to physical therapy for two months (2 times per week) and was never asked for a co-... |
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 Can 1st timer get Homeowners Insurance?? |
| I recently got approved for a 300 thousand dollor loan to buy my first home. After making a few offers followed by a counter offer, I was able to agree on a price that was fair. I just called my I... |
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 How to dispute medical charge I didn't authorize? |
| I had a routine annual exam and pap in January, but when I got the bill, found out that they did an HPV test along with it. I did not authorize this test. As such, my insurance company covered the ... |
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 When should I buy life insurance? |
| I'm 23, one year out of college, living at home with my parents and working full time. I have no dependents. Is this the right time in my life for purchasing life insurance? I don't ... |
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 Is it true that if you put a security system (alarm) in your own business that your insurance (premium)? |
| i mean your payments and yearly cost would go down yes? security systems would be a way of protecting you business yes?... |
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 Insurance question - if a tree falls on your car who will pay for it your car insurance or your household ins |
Additional Details
it was a close call only nothing happened i just wondered . The tree is on our property . It was rotting but so are lots of trees in the forest .... |
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 Since i quit my job to further my education and now have a part time job how do i get insurance? |
| i can live without vision and dental for the time being but i need medical insurance. even though i never been injured to the point i need medical help and the only time i visit my doctor was for ... |
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 1 wk Before house was purchased Hail storm may have caused damage. Can I contact Prev owners Ins to check ? |
| The storm garner media and Insurance Assoc. press. Neighbor brought to our attention today when his ins co sent adjuster to check his roof etc for damage. Accord to his adjust the damage was ... |
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SharpDr08 | Whole Life Insurance? |
I am from overseas and as i was growing up my parents signed me up for an insurance where 10 or 20 years later we had the option of getting the money. Is there a such insurance in the United States. I heard that Whole Life insurance is somewhat similar to it? |
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Financial JUSTICE
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Any life insurance with cash value will pay you money in 10 to 20 years when you cancel the life policy. Surrender charges will apply on the cash value when you cancel the life policy.
If you don't want to cancel the life policy, you can borrow the cash value. Loan interest of 6-8% will apply. Any borrowing will reduce the death benefit. The danger of borrowing the loan is that if the policy lapse or you cancel the life policy, you will pay income taxes on the loan balance. So you want to pay the loan before canceling the life policy.
As you can see, whole life insurance pretty much sucks no matter what country you are in because the cash value never belongs to you. If you die some day, all the cash value goes to the insurance company, not your family.
If you are looking to build wealth the right way, you should max out your employer's retirement plan such as a 401(k) and max out your IRA. If you are able to do that, you should invest in mutual funds by itself. In 20-30 years, you can potentially have about a million dollars or more to retire on. I don't know what your country offers, but it probably has similar programs where your money can grow tax-deferred. |
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Bradley S
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Term life covers you for a limited amount of time—the term. The premiums you pay are gone when the term is up. You have purchased security for a certain number of years, but that is all. You will never see that money again.
With a whole life policy, the insurance company invests your premiums, and your policy builds cash value. A whole life policy will never expire, as long as you pay your premiums. If you live 20 years plus 1 day, you will still be covered by whole life—but not by a 20-year term. If you live to 80, you will still be covered by whole life. Your cash value will accumulate, and the money can be used to pay the premiums, to keep the policy in force. You can also borrow against the cash value. Whole life costs more because of these features.
The criticism of whole life is that you could save money with term and invest the savings in something with a bigger return. But will you? And what will you invest in, with such a small amount? Whole life is guaranteed to build cash value. To find out more, go here: http://www.lifeinsurancewiz.com Good luck! |
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BLT
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yes, whole life insurance is one, and universal life is another. |
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Bob
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Yes. Whole life is a great way to save for the future and also provide money for your family long term. However as you get older, whole life does not make sense due to the cost. You should carry a Term policy as well. |
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MsMiss
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It sounds like what you are describing is either UNIVERSAL or WHOLE life insurance. Theyeach buuild cash value within the policy. You can take out a loan or just surrender the policy for the cash. |
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aaron p
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There are a number of different policies that would allow you to do this: return of premium term, variable life, universal life, whole life, and back in the day indemnity policies. Call the company you had it with to learn more about that specific policy. |
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pigeonguy
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Personally, I'd suggest that you stay away from the whole life products simply because they have a poor rate of return. Most usually average only about 4-6% on the general accounts that the money is invested in (barely, if even keeping up with inflation);
HOWEVER, it doesn't mean that all cash value insurance is that low in return. Talk to a reputable insurance agent (absolutely get one who is DUALLY LICENSED, i.e, has a securities AND insurance license) and discuss the possibilities of a Variable Universal Life product (where the money invested in the subaccounts, not general accounts of the insurance company can average 12% over time. (Someone who is not variable licensed cannot legally even discuss these products so they often just bad mouth them)
You might also ask your agent about equity indexed universal life, where the money is not directly invested into the market, but is geared against an index, quite often the S & P 500. A good number of equity indexed products average 8-10% over time, with some having caps on earning and some having no cap with just a spread taken from the top of the earnings. Most also have a base floor guarantee.
As for all those "buy term, invest the difference" folks who will be screaming around here. They're still somewhat living in the past and haven't gotten around to realizing that within a variable UL that is EXACTLY what you're doing AND you get some potential great tax benefits as well. |
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DebtFree
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whole life stinks.
20 year term is better. |
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tranxstepz
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Compare Life Insurance, 2insure4less
http://compactsource.info/rdnet/2insure4less/2 |
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