Obtaining Good Pet Insurance

Have you been wondering if it is a good idea to obtain pet insurance for your furry friend? Even if you have never had a cause to need insurance, it has probably crossed your mind. Do you have pet insurance? If not, read the following to see why it is so crucial that you do.

Pet insurance is much the same as human insurance; you get accident and illness protection. In other words, the insurance company will agree to pay any costs incurred should your animal become sick or be injured in an accident. Depending on the type of insurance policy you obtain, you are also entitled to coverage should your animal die or go missing.

When you purchase your pet insurance online or request a quote, you will be required to fill out a standard form that asks for average information, such as what breed you own, how old, etc. Depending on the information, you can find insurance with premiums as low as $15 each month. Your premiums will be affected by how old your animal is, its health, as well as what kind of animal it is.

If you happen to have breeds that do not pose any threat, there are also other types of insurance that you can consider. However, insurance, no matter what type, has the same basic coverage, with the average things such as liability, injury, and property damage.

As stated, there are many different types of insurance for pets. There is even third part coverage to protect you in the event that your animal harms someone else's animal or property. There are several different levels to choose from, such as Senior or Standard plans. Most insurance plans also allow you to choose which veterinarian you would like to take your animal to.

Just like with human insurance, the insurance provider agrees to pay the physician, or veterinarian, according to a payment schedule worked out between the insurance company and the physician. You may wonder why there are so many people who have insurance yet their pets do not, when health care costs are the same for both. However, there seems to be a lot of fine print when it comes to pet insurance. You may be wondering if it is actually worth the money.

One benefit of pet insurance is that, should your animal go missing, most coverage providers will pay for you to advertise in your area in the local newspapers so that you can try to locate your furry friend. Pet healthcare costs are continuing to rise, and many just find pet insurance to be the logical answer. Many owners take this insurance just to ensure that their animal gets the very best treatment should something occur.

Most policies have an excess, which is much the same as a deductible. It is an amount that you have to pay before the insurance company pays their portion. If you do not think that insurance is the way to go for you personally, there are other options that you can discuss with your veterinarian. When seeking insurance, quotes are always free so that you can find the best deal for your situation.

Insurance for Your College Age Child

When your college-age child goes away to school, you both must deal with an entirely new set of financial concerns. It isn't easy to make sure savings, loans, grants and scholarships provide your child with enough money to live comfortably and still afford classes, books and school supplies. And on top of that, you also need to make sure that your child's health and financial future are protected with the right kind of insurance policies.

If you aren't sure where to start in evaluating your child's need for insurance or how to structure their policies, take a look at these tips.

    Renters Insurance

Whether your child is going to live in a dorm or in an apartment off-campus, there's a good chance he will need renters insurance to protect him from loss of property or liabilities-or both. Students who live at home still enjoy coverage under their parent's home insurance policy.

Dorms do not reimburse students if their property is stolen or damaged in an insurable incident unless the loss or damage was somehow due to college negligence. The same is true for off-campus apartment living. A renters insurance policy will offer your child financial reimbursement for the loss either on an actual or replacement value basis.

For liabilities, if a guest is injured in your child's apartment, your child could be sued for medical payments and other damages unless she has a renters insurance policy to cover liabilities. Dorms are slightly different as some colleges cover liabilities for resident students, so it's a good idea to check with your child's school to find out whether they are one of the schools that does.

    Auto Insurance

If your child is going to drive any motorized vehicle while away at school (including a scooter or motorcycle), then he or she needs to have auto insurance with coverage levels at least at state mandated minimums. In a best case scenario, since college students have less driving experience and more risk than older drivers, they will have more insurance than the state requires.

If your child's main residence is your home then your state may allow you to keep him or her on your policy. If not, you may be required to get a policy in your child's name. Auto insurance companies have many ways of evaluating risk and assigning rates, and the primary address of the driver can contribute to these determinations.

    Life Insurance

While not required, life insurance is an important coverage to have for your college-age child. In the unfortunate event of death, a life insurance policy can help you get all your child's financial affairs in order without creating more struggles within your own financial situation. But beyond that, getting a life insurance policy for a college student allows you to lock in the low-rates afforded to the young so that your child can continue paying those rates for life-or at least as long as the term of the policy.

Additionally, if you buy a whole (or permanent) policy, your child's policy will accrue cash values that they can take loans out of in the future. It's really a great way to help your child get started on the right financial foot.

    Health Insurance

No matter how young and invincible a college student thinks he is, health insurance coverage is one of the most important forms of insurance for them to carry and in some cases, one that the school will require. Living in a communal environment like a college dorm or apartment with roommates, exposes your child to many different germs, bacteria and viruses that they may not have built up a tolerance to. The student may end up needing more medical care for common illnesses than they have in the past, and without insurance these expenses can really add up.

College students under age 26 can remain on their parent's plan even when they don't live at home, but depending on where they go to school, they may have trouble finding caregivers and facilities that are in-network. An individual insurance policy with an insurer that has providers in the area of the college may be a better choice.

There is never a good time to be without adequate insurance coverage. But as a young adult just getting a taste of freedom and independence, the financial hole that being uninsured can dig sets a dangerous precedent for their future, and one that is easily avoided.

Unit Linked Insurance Plans

Higher the rate of inflation, lesser is the value of money. This is a thumb rule to be kept in mind while making any long-term investment. Generally, at the time of making the investment, the return promised at maturity, usually 10-20 years, looks attractive. But when the realized amount is received on the maturity date, its value normally gets reduced to peanuts. This is because the rate of return could not match to the rate of rising inflation and other economic variables.

To overcome such glaring gaps, a Unit Linked Insurance Plan (ULIP) is introduced that help investors to get a fair return on their investments. It is a type of an insurance policy where the value of the policy changes with the market trends. It is basically a combination of an insurance policy and a mutual fund aimed at providing both flexibility and stability for the investment. In simple words, it can be said that the returns are market-linked in a ULIP.

In a ULIP, the policy taker receives a certain number of units, according to the amount of investment he wishes to make, at their existing net asset value (NAV). The amount invested in the plan is further re-invested in different portfolios like that of stocks, debentures, futures, etc. Therefore, as the value of the portfolio changes, the NAV varies accordingly. For instance, in a bullish market, the NAV will increase thereby increasing the value of the units and the overall ULIP.

ULIPs are ideal for investors who prefer secured investments but are ready to take a small degree of risk for better returns. Just like in any pure life insurance contract¸ the money is paid to the beneficiary in the event of death of the policyholder. Similarly, in a ULIP, the money is benefits of the plan are extended to the family or other beneficiaries in case of the unfortunate happening.

A wide range of ULIPs, with different features and benefits, are offered by almost all the insurance companies. You can choose a plan depending upon the desired investment amount, tenure, and the expected return. The companies have a team of professionals who can visit you personally and explain the benefits of different policies.

You can also refer to the websites of these companies to get a fair idea about the current policies. Apart from this, you can use an investment calculator, available on most of the investment websites, to calculate the expected return amount.