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Monthly Archives July 2012

Life is All About Making Smart Choices

Selecting an insurance program that best fits your specific needs may seem overwhelming, but in reality it doesn’t have to be.

There are numerous insurance programs and thousands of insurance providers, and so it’s important for you to conduct some basic research and find an insurance provider that customizes a plan according to your specific needs.

“It took me some time until I found the right provider, but once I found them, they created for me an insurance policy that covers all my basic needs,” said Joe Pasternack.

Time To Get Moving

Morgan Shaw-Fox recommends that prior to beginning your moving endeavour, write everything down. Create a simple record keeping system that allows you to maintain an inventory of everything you own. You can even use a computer to type up the information and create a list of numbers with spaces to write all your belongings, match the numbered items with a matching box, that way you know where everything is. In addition, Morgan Shaw-Fox recommends you write detailed to-do lists, ensuring you plan ahead and remain on top of your moving needs.

Avoid Being Fooled

Media tech personnel Mark Geringer recently advised others to be aware of a rise in online moving scams. Geringer explains that many of his friends are falling victim to scammers’ online ploys and that such an ordeal can be avoided by turning to trusted names and not random, cheap companies.

Corporate Moving Insurance Explained

Moving your office or business without buying insurance can be very risky in case of a disaster. Most moving companies offer little to no coverage for corporate belongings.

Customers should consider corporate moving insurance as an investment, since it protects their business and minimizes the potential loss and aggravation following a disastrous occurrence.

“When I moved my office across town I immediately purchased corporate moving insurance because I wanted to ensure my business will continue running as normal,” said marketing executive, Jeff Sodikoff.

Term Life Insurance Conversions


Term Life Insurance ConversionsA term life insurance policy only covers you for a specified period of time, depending on the term length you chose when you bought the policy. Most insurance companies offer 10, 15, 20 and 30 year term policy options. There may come a time in your life when you decide that a term policy is no longer sufficient for your life insurance needs, however you may no longer be insurable and able to obtain a new policy.

Most term life insurance policies automatically include a conversion option, which is the option to convert your term policy to a permanent life insurance policy, within policy specifications. The conversion option is a valuable addition for many reasons, and if you are in the market for a term life policy you should check to be sure your policy includes this option. Here we discuss some key points to help you understand how conversions work.

Conversion Options

Insurance companies that provide the conversion option with their term policies will provide at least one permanent product to convert to. Usually it will be Universal Life or traditional Whole Life. Read about these types of insurance. Some companies allow conversion to any of their permanent products. Have your agent compile a list of options for you when you are considering making the switch.

It is important to note that insurance companies may change products over time, so a product that is available for conversion today may be discontinued in the future.

Conversion Deadline

The conversion deadline will be listed in your policy, and this is the absolute deadline for converting your policy to a permanent plan. Most insurance companies do not offer a grace period on this deadline. If you intend to convert your term policy, allow plenty of time for the conversion paperwork and processing.


As you may have guessed, permanent life insurance is quite a bit more expensive than term life insurance. Traditional Whole Life is meant to provide coverage until age 100 or beyond, so it is understandable that it will be more expensive than a term policy. Depending on the type of policy converted to and the age at which converted, you may be paying several times more than you paid for your term policy.

Often people will want to know the exact price they will be paying if they convert their term policy to say, Universal Life in 10 years. Your agent will only be able to give you a rough estimate, because insurance companies are constantly changing their rates. The price for a 50 or 60 year old today will not be the same as a 50 or 60 year old 10 years from now.

The price that you will pay for your newly converted policy depends on the age at which you decide to make the conversion. The younger you are the less expensive it will be. This does not necessarily mean that you should jump the gun and convert your term policy too soon. Talk to your insurance agent and a financial advisor to be sure that a permanent policy is right for you before converting your policy.

Partial Conversion

If you are not quite ready to part with your term policy, but you want to take advantage of your conversion option, most insurance companies will allow you to convert only a portion of your coverage to permanent life insurance. There is generally a lower limit, such as $50,000, but this varies by company.

Real Life Example

Mr. Cooper applied for a term life insurance policy at age 62. He was approved at the preferred plus rating class for a $250,000, 10 year term life policy for which he paid $500.00 per year.

2 years later Mr. Cooper was diagnosed with major heart issues for which surgery was required. During this time, he realized that his 10 year term policy (now 2 years old) was no longer sufficient to protect his loved ones. Mr. Cooper applied to countless different insurance companies trying to get a new term policy, but was unable to be approved due to his recent heart problems.

He was ready to give up, but then remembered that his current term policy had a conversion option, which meant that he could convert all or part of his current policy to a permanent plan with no evidence of insurability. At age 64 he was still within his policy’s conversion period, so he set out exploring the products available by his company for conversion. After much deliberation, he settled on a partial conversion to a cash value Universal Life policy, to age 100 and beyond. He converted $100,000 worth of coverage and was able to maintain his preferred plus rating class. The pricing on his new policy was $2,400.00 per year.

Things to Remember

  • Conversion rules and options differ from company to company.
  • Permanent life insurance is very different from term life, so make sure you fully understand it before making a conversion.
  • Often conversions are not reversible, so once done you can not convert back to your term policy.
  • Find an experienced agent who is willing to go over all aspects of your new policy before conversion. 


Related Topics:

How Is My Term Life Insurance Rate Determined?

Common Mistakes Made When Purchasing Term Life Insurance

Return of Premium Life Insurance

Fight Pain With Food


Term Life Insurance and Chronic PainNo single food can completely stop chronic pain, but a healthful diet can be a helpful part of your pain management strategy. Certain foods can help build strong bones and muscles, and in some cases, even fight pain. Not only can a well-balanced diet help you cope with pain, but it can help save you money on term life insurance.


Whole Grains

Whole grains are rich in fiber, an ingredient that curbs appetite and helps you manage your weight. Maintaining a healthy body weight is important to keep chronic pain at bay. Another benefit is that as grains are a good source of magnesium, they can help fight muscle pain. Enjoy a wide variety of whole to relieve chronic pain.


Olive Oil

Olive oil is rich in antioxidant polyphenols that help inhibit a common pain-causing mechanism in the body. It also makes a great substitute for butter, a saturated  fat which has been shown to erode bone strength and trigger pain. Enjoy olive oil in your next pasta sauce, salad dressing or sauté.



Vitamin K, a nutrient with potential pain-soothing properties, can be found in greens such as spinach and arugula. Vitamin K also helps maintain strong bones and healthy joints. You can get all the K you need from dark leafy greens. One cup of raw spinach has 132% of your daily dosage.



These red treats are chock-full of vitamin C, an antioxidant with powerful properties that can relieve pain. Some studies suggest vitamin C may help people experience less pain after breaking a bone or having orthopedic surgery. Similar research indicates vitamin C may hinder arthritis-inducing cartilage loss and the formation of bone lesions in the joints. Try adding strawberries to your diet in a fruit salad or smoothie.



Salmon is rich in pain-relieving omega-3 fatty acids, but it’s also a great source of another potential pain fighter: vitamin D. There’s a strong link between low levels of the vitamin and chronic pain. Research suggests supplementing your diet with vitamin D may help ease the discomfort. A 3-ounce serving of salmon has nearly half the recommended daily dose of vitamin.



Dairy products do not directly  manage your pain, but they do contain the two bone-building nutrients: calcium and vitamin D. So, load your grocery cart with dairy foods like milk and yogurt fortified with vitamin D. If you are lactose intolerant try calcium and vitamin fortified orange juice or soymilk.

Try adding the above foods to your current pain management treatments to start feeling better. And as an added benefit, your new diet will improve your overall health as well as save you money on your term life insurance premium.


Related Topics:

Natural Ways to Manage Chronic Pain

Eat to Battle Depression

Eat This If…

Moving Truck Rental Insurance is Needed

In order to save money, many Americans conduct their own moves with the use of rental trucks. Yet what if the rental truck is stolen or vandalized? There is a solution called moving truck rental insurance that helps protect customers’ pockets in case of any harm to the rental truck.

Any rental truck theft, physical damage, or any other financial responsibility is not covered by auto, credit card, home or AAA insurance. Therefore when renting a truck it is necessary to purchase rental truck insurance coverage, says Pastor Ronald McCaskill who recently purchased a moving truck rental insurance policy when touring the nation as part of his Spring Speaking Tour.

FDA Created Cancer Drug Shortage


What does Margaret Hamburg and the FDA have against cancer drugs? Maybe she can’t wait for the Obamacare death panels and wants to speed the process along.

This FDA smackdown on generic drugs has led to a shortage of much needed cancer drugs.

The report, commissioned by Oversight Committee chairman Darrell Issa (R., Calif.), details the dramatic drop in the production of generic injectable drugs since Hamburg was confirmed as FDA chief in May 2009. Upon taking office, Hamburg promised an aggressive effort to enforce the FDA’s stringent manufacturing standards. In 2010, Hamburg’s officials issued 673 warning letters to drugmakers and other companies: a 42 percent increase from 2009. In 2011, the agency issued 1,720 warning letters: a further increase of 156 percent.

So what does Ms. Hamburg know about quality control that her predecessors did not?

Good question.

“According to sources with inside information about FDA’s operations, there is a disconnect between the FDA field force, the inspectors who work out of the agency’s district offices, and scientists and other career individuals at FDA headquarters who work on review and compliance functions,” Issa writes. “According to the Committee’s sources, FDA’s field force does not believe that it is within the scope of their authority to worry about the implications of their actions, even if it means a manufacturer closing a facility or removing manufacturing lines from production.”

Sort of a shoot first and ask questions later approach.

Wonder how cancer patients feel about this?

Ondansetron, a drug used to treat chemotherapy-induced nausea and vomiting, used to cost $3.71 per injection when it was on patent. Within one year after the drug’s patent expired, an injection cost 28 cents.

But injectable drugs require special manufacturing costs. “Injectable drugs often need to be lyophilized,” or freeze-dried, “which is extraordinarily expensive—the machine costs around $100 million,” says Mantha. “It’s a big capital expenditure.” On top of that, companies had to deal with the blizzard of new FDA enforcement actions

Why should the FDA care? It isn’t their problem.

 in a normal market, whenever you have a shortage, manufacturers can raise prices, in order to restore their incentive to supply more product. But because of Medicare’s 6 percent cap on price increases, suppliers had no ability to raise prices to respond to doctor and patient demand.

Government interference in the market place created these shortages. The tag team of Medicare and FDA is squeezing the life out of low cost generic drugs.

the recently passed Prescription Drug User Fee Act legislation contains some language regarding drug shortages, but again the emphasis is on early warning of shortages, and speeding up FDA reviews, rather than on the real problems: excessive regulatory interference, and Medicare’s price controls.

As a former generic-drug CEO says below, “it seems somewhat ironic that the FDA is being empowered to cure a crisis they may have had a hand in creating.”

This is what happens when government officials try to regulate industries about which they have no idea how their actions impact end results.
As usual, Avik Roy’s take on this topic is on target. Click here to read the full report as well as two addendum’s.
Original content copyright © InsureBlog

An Exchange by Any Other Name


is still an exchange. You can change the name, put some lipstick on that pig, but it is still a pig.

Health insurance exchanges are an integral part of Obamacare.    

So are taxpayer funded subsidies.

Without exchanges, there are no subsidies. More importantly, without the RIGHT KIND of exchange, there are no subsidies.

The Massachusetts exchange used for Romneycare relies heavily on taxpayer funding . . . especially from the federal tax coffers.

Much has been written about the Massachusetts Connector (the exchange) but very little about the exchange in Utah.

The Mass Connector has a staff of 45 employees and contractors and an annual budget of $40 million.

The Utah exchange has a staff of 2 and a budget of $750,000.

The Mass Connector relies heavily on salaried “navigators” and advertising to enroll citizens (and non-citizens) while the Utah connector incorporates and welcomes insurance broker participation.

According to The Economist:

Utah’s reform is “market-based”, says Mr Herbert, whereas “Obamacare” is a big-government monstrosity. But it too relies on exchanges, so now the word is tainted.

Tainted by Obamacare.

So the folks in Utah want to hold a contest to rename their exchange.

But how is the Utah exchange is different from the Mess Connector and Obamacare?

Utah also decided that government subsidies should play no part in its reform, whereas the one in Massachusetts was based on them. Thus Mr Romney’s plan became, more or less, the basis for Obamacare, whereas Utah started seeing its plan as a free-market alternative. 

Unsubsidized insurance. Instead, allowing the free market to determine price.

What a novel idea.

So the Utah Health Exchange is decidedly not Romneycare or Obamacare. But what is it? At first glimpse, it is a snazzy web portal where four of Utah’s five largest health insurance companies offer about 140 plans to about 6,600 employees of 285 small businesses. Each employer determines in advance how much he will contribute to an employee’s insurance, as in a defined-contribution pension plan. The employee then filters the plans and selects his favourite—again, as he might choose mutual funds in his defined-contribution pension plan.

Freedom of choice rather than a government mandated level of benefits. Agent participation. Market driven premiums. No mandate. No MLR (at least not at the state level).

How did they ever come up with that idea?

Granted, the Utah exchange doesn’t have the participation like the Mess Connector but they also are spending very little of the taxpayer dollars to run the thing.

Does spending more money make it better or just make it more expensive?

Original content copyright © InsureBlog

Claiming Compensation for Injuries

If ever the misfortune of suffering an injury that you believe is the direct result of the negligence of others, is likely to seek compensation through a personal injury lawsuit, and in which injury lawyers can help you with this to ensure that the process as simple and trouble free as possible, allowing you the time and opportunity to focus on one priority – your recovery.

The protocol surrounding a more personal injury claims is as follows -

After receiving the details of your request, we send a letter of complaint to the accused, which describes the details of your accident and injuries, and the way we think is responsible. From there, we give a period of 21 days to respond to our letter, informs us that have recognized our right and sent the details of your insurance representative.

Once we receive confirmation that the defendant insurers have recognized our right, the investigation should have started. From there, we send a letter outlining the insurance information on the case and inform you of having three months to consider the request carefully and confirm whether or not they will pay. It is important to understand, however, that as a company policy we do not like to let our customers in the dark, while the period of three-month investigation is ongoing. We are proud of our policy to ensure that we update our client on the progress of your case, every 2 weeks, which lets them know exactly when we are on the case and what the next course of action is likely to be.

If after three months, responsibility for the IP address is accepted, the next action plan is the organization of the medical evidence obtained, and salary negotiations with the other side. However, if after 3 months, we find that deny responsibility for your case, we have to fight your corner of the box.

When we receive a disclaimer, our next course of action is to convey all the information about the case to one of our experienced attorneys for review and comments. If the lawyer’s analysis confirms that the prospects of success are not favorable, ie below 51%, we will have a second opinion lawyers to see if the result is of a similar nature. If this is the case, may be unable to continue the case.

It is important to understand, however, that if that happens, our corporate policy that prevents us from collecting the fantastic for our customers because we believe that the unfortunate conclusion of the research is rather disappointing, without having to worry about the burden of having to pay expensive legal fees.

On the other hand, however, if the attorney confirms a good chance of success is over 51%, our next priority is to focus only on collecting all possible information to strengthen our case against the other side. This information may come from a variety of sources – for example, convincing evidence of medical or witness statements to confirm the details of the accident. It is absolutely essential at this stage to build an excellent array of fighting his case all the way to court if necessary.

As a final note, one of the questions most frequently asked questions, asked by clients during the IP is.” When a situation like this occurs, the next course of action is to issue a request for release before the lawsuit, a petition to force the defendants’ representatives to disclose all information necessary to complete the investigation and to confirm a position of responsibility.

Again, this action is without risk to yourself that you are not required to appear before the court and it costs you nothing – if our request for disclosure of prior action is successful, we will recover all costs of insurance required demand, ensuring you never miss a good penny Jolie eh!