health insurance for entrepreneurs

Health insurance for some people still considered less important , especially if you 're young and never got the disease . Insurance is not a product that can be consumed in the near future , the benefits can only be felt when there is an accident or claim .

If you are an entrepreneur or work in the informal sector who do not have health insurance , it will be a disadvantage if you are going to buy a new insurance policy when you have severe pain and a lot of money for hospital treatment .

For an entrepreneur if you get sick or suffer permanent disability due to an accident will have a lot of financial losses , because they have to bear the cost of treatment themselves , and can not make a living . Than if you are working in a large company or government diinstansi work , usually will obtain health insurance that would cover the cost if the pain and bulananpun fixed salary paid .

Thus health insurance should be held as early as possible before an event that we do not want to happen , especially if you work as an entrepreneur or work at a company that does not provide a guarantee kesehatan.Informasi insurance is very important for you to know the type of insurance and products .

Put life insurance on your kid?

May is birthday month for both kids in our household -- a curse because of the costs and a blessing because we can be done with it all in one fell swoop.

Birthdays are also a good time to do annual financial checkups. It's not something most want to talk about, but parents need to have some type of life insurance policy to cover the income that is lost with the death of a spouse. It ranks near the top of financial considerations.

There are other policies to think about, like critical illness, which provides a lump-sum payment should you become seriously ill, and disability insurance, should you be unable to work.

Less clear, and much more controversial, is buying insurance against your child's death. Yech!

Mark Halpern, owner of illnessprotection.com,says it's a gruesome subject, but for parents with a family medical history, it can make sense. "Once we get people off the ledge [from the idea they might profit from their child's death], they realize the best time to get insurance is when you're young and healthy," Mr. Halpern says.

"You could get their insurance needs taken care of in 10 years and then they won't have to deal with an insurance advisor in the future."

But he also says a policy for your child ranks down the list of financial priorities -- after contributions to a registered education savings plan, for example.

Steve Krupiez, assistant vice-president of special case markets for Manulife Financial Corp., says insurance policies for children were much more popular 20 or 30 years ago, as a way of saving for a child's education.

Before the RESP was introduced, parents would buy a policy in their child's name and eventually turn it over to them as they reached adulthood. At that point, the policy would have equity in it and the child could withdraw some of that equity for education purposes and face very little tax consequences.

But once the government began providing a 20% grant for every dollar put into an RESP in 1998, the insurance strategy faded.

However, whole life policies that build up equity and are paid off after a number of years, are gaining popularity. For $53 a month, your child would have a $100,000 policy paid up in 10 years with Manulife.

Rates go down in teen years because newborns are actually classified as potential smokers, but that is reversed at age 16 if you prove your child doesn't smoke.

"The story now if you're going to do this is that you're looking for cheap rates forever," says Mr. Krupiez, who agrees that a policy for your child ranks down the list of financial priorities.

Maybe the idea of buying insurance for your child isn't that gruesome, but it's probably not your top priority either.

Cheap Term Life Insurance is a Low Cost way to Plan for Future

Digital News Report – If you are looking for a cheap life insurance policy you might want to consider a term plan. These are often relatively inexpensive. You set the amount of years that you want to have covered. You might want to ask your financial planner how many years would be optimal and what dollar amount to insure for in a term life insurance policy.

You don’t want to under insure and you don’t want to over insure. If you have a health condition, smoke, or have a dangerous job, you may have a higher monthly payment. Your age is also a factor in your monthly premiums. Life insurance companies can ask for a medical exam, while others offer a no-exam life insurance policy and base it on a short health survey. With any insurance you should always be upfront with answering the questions because if you are found to have told them the wrong information you can lose your benefits.

You can look for a policy that has an Accelerated Death Benefits built into the terms of the term life insurance plan. If you come down with a terminal illness the life insurance policy can help to pay for some of your expenses that aren’t covered by your health insurance. You might not have to pay extra for this until it is activated. So shopping around for your life insurance and getting all the perks at an affordable price should be an important task for anyone that is planning for the years to come.

Term Life Insurance is low cost in comparison to whole life insurance. Whole life insurance is for those that want to set up investments strategies and estate planning usually, while the term life insurance are for those that want the coverage during the time their children are being raised. Once the term is up the coverage ends. If you didn’t die, you don’t get any benefits from your payments. Term life insurance is a lot like car insurance.

With term life insurance quotes, make sure to find out if they are renewable. You may want to renew the policy at the time it is about to expire. Having this option is a good idea, just in case.

Most all insurance agents offer some type of term life insurance policy. You can also find banks and credit unions offering them as well. If you want to further investigate more term life insurance quotes you can search the Internet and find the best selection of term life insurance quotes. After shopping around you will surely find the best term life insurance rate to help protect your family.

By: Victoria Brown

Insurance Types You May Not Need

For every fear that people have, there’s an insurance policy to cover it. Worried about being jilted at the altar? There’s a policy for that. Afraid an alien might abduct you? That’s covered too.

Some insurance policies are crucial – auto and property insurance, for example. Others are a sound financial decision, including life, critical illness and disability insurance.

There are some policies, however, many of us can do without, says Tom Drake, a financial analyst and head writer for the Canadian Finance blog. Shopping for a house and car in Edmonton two years ago, he heard every insurance sales pitch in the book, including mortgage life insurance to cover payments if he died.

After running the numbers, Mr. Drake decided a 20-year term-life insurance policy was the most economical way to protect his family from debts and lost income.

“In most cases, these products play on emotions and are either not worth the money or can be better covered by simple term-life insurance,” Mr. Drake says. “Even worse, some of these policies can be difficult to collect on when needed. So stick to the basics and avoid the insurance you can do without.”

Another strategy, he says, is putting the money you would have spent on extra insurance policies into your savings each month, where it can be used if and when you need it, no strings attached.

Here are Mr. Drake’s top seven insurance products you probably don’t need:

Insurance on debts

Mortgage life insurance and credit life insurance cover your debts in the event of your death. However, these products tend to be more expensive than a similar level of term-life coverage, which can be used to pay the bills or anything else your loved ones might need. Unless you have health problems that prevent you from getting adequate term-life insurance, these products are not necessary.

Accidental death insurance

The cause of your death is irrelevant to the amount of lost income or the debts that will need to be paid upon your death, so don’t bother adding this coverage to your life insurance.

Disease-specific insurance

This product pays a lump sum and covers any expense not covered by your benefits, but is a bit of a gamble since you cannot have any pre-existing condition. You’d be much better off with critical illness insurance, which covers a variety of common illnesses.

Rental car insurance

When you rent a car, you’re offered a loss-damage waiver and collision-damage waiver. Before you buy, check with your insurance provider and your credit card company, as you may already have this type of coverage.

Auto glass insurance

For the annual premium, plus deductible, it would cost less to replace your windshield every two years with your own money than to buy this insurance, Mr. Drake says.

Identity theft insurance

This pays a capped amount for any lost wages and expenses you incur while cleaning up identity theft. It does not cover stolen money or fraudulent credit card use – victims need to seek reimbursement for those expenses from their financial institutions.

Child life insurance

This product is offered as a savings vehicle and insurance against early-onset chronic diseases, with a payout in case the unthinkable happens. You would likely be better off with critical illness insurance for your child and a Registered Education Savings Plan.