Tough times call for tough decisions. Some of you may have considered cashing out your life insurance policy or a life settlement. If you have a severe medical condition, terminal illness or are facing your later years in life, this may be an option you have considered recently. Understanding what is the best option for you starts with research.

Weekend Insurance Tip: Find Out What You Need to Know Before You Meet With the Life Settlement Company

originally appeared on About.com Personal Insurance

on Sunday, April 18th, 2010 at 14:02:04.

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Robert Valentine has a great review summarizing five important factors when looking to purchase a long term care insurance policy. Here is a peak:

"Fortunately, a record number of seniors are beginning to buy long term care insurance. This is most likely due to increased education and the startling statistics we're seeing. Most of the individuals that come to me for their long term care insurance policy needs and long term care insurance quotes, do so in order to protect their assets and to insure a choice in the quality of care that they deserve. Of these individuals, the majority that end up needing the care can remain independent, don't burden family members with constant 24-hour care, and don't alter their standard of living. For the majority, this is what makes long term care insurance such an obvious choice."

5 Factors to Consider When Choosing a Long Term Care Insurance Policy

originally appeared on About.com Personal Insurance

on Thursday, April 15th, 2010 at 23:58:33.

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If you bought a certain Callaway driver at a Golfsmith between March 12th and April 7th, then you may be eligible for a refund. The promotion, called "Win With Phil", is estimated to cost about $1 million in refunds. But do you think Golfsmith would really get into a promotion such as this and risk taking a $1 million hit?

Risk is the key word here. Where there is risk, there is insurance. Yes, Golfsmith did purchase insurance to cover their risk of maybe having to pay up. So, although they did have to pay some, like their premium payment

 on the insurance policy, they won't have to worry about paying out anywhere near the $1 million expected in potential refunds.

Callaway Driver after Mickelson Win, Will it Cost Golfsmith about $1 Million?

originally appeared on About.com Personal Insurance

on Tuesday, April 13th, 2010 at 23:58:29.

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Employers use waiting periods to attract long term employees or to save money when there is a job shortage.  An employer can set whatever time they choose for their insurance waiting period, but it is important to know that the employer waiting period cannot be in addition to a pre-existing condition waiting period.

Weekend Insurance Tip: Understand the Employer Waiting Period

originally appeared on About.com Personal Insurance

on Saturday, April 10th, 2010 at 19:49:35.

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With the new health care bill now law, there are already people taking advantage of this opportunity to illegally profit from uninformed citizens. These scammers are claiming they are signing people up for "a limited number of spots under the government health care plan." They are going door by door and doing the scams by phone.

Any new insurance programs implemented by the new health care law will not be available until 2014, so anyone claiming otherwise is probably scamming or misinformed, and in either case it is not someone you want taking care of your health insurance needs. If you are approached by a scammer, you do need to report them to your state insurance commissioner

immediately.

New Health Insurance Scams

originally appeared on About.com Personal Insurance

on Friday, April 9th, 2010 at 10:19:04.

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Do you know your lifetime maximum benefit in your health insurance policy?  Not having enough insurance available can be disastrous and everyone should look for a health insurance police with the highest, or even no lifetime maximum benefit.

Know Your Lifetime Maximum Insurance Benefit

originally appeared on About.com Personal Insurance

on Tuesday, April 6th, 2010 at 10:25:32.

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 A variable or fixed annuity can be a great retirement vehicle. Variable and Fixed Annuities have some of the same retirement benefits as other retirement plans like the employee sponsored 401K plan and an individual traditional IRA, but an annuity typically doesn't have contribution limits, income limits, or mandatory withdraws like the 401K plan and traditional IRA. And although one's after-tax dollars are used for contributions, the retirement earnings grow tax-free.

Weekend Insurance Tip Know if a Variable or Fixed Annuity Right for You

originally appeared on About.com Personal Insurance

on Sunday, April 4th, 2010 at 00:07:53.

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This is an absoultely great site that everyone should take a look at it. If you are someone you knows needs help finding affordable or even free health care coverage

the Foundation for Health Coverage Education website is the place to go. The website will guide you through eligibility information and help with searching, state-by-state, for available health care coverage in your area.

Foundation for Health Coverage Education

originally appeared on About.com Personal Insurance

on Friday, April 2nd, 2010 at 20:37:16.

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 You may qualify for a free prescription drug discount card. Although it is only a discount card and not part of a health insurance plan

, this program can still provide substantial savings. There are only a limited amount of cities and counties that are participating in the program. To see if your city and/or county is a participant go to www.caremark.com

.

Free Prescription Drug Discount Card

originally appeared on About.com Personal Insurance

on Wednesday, March 31st, 2010 at 00:20:41.

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