Life cover is the financial protection every family needs against the death of a breadwinner while disability insurance and dread disease cover protect against the disability or illnesses of a breadwinner. But did you know that businesses can also insure the life and health of a valuable employee? Read on to find out more about key person insurance.
Wikipedia defines key person insurance, or keyman insurance, as ‘insurance taken out by a business to compensate that business for financial losses that would arise from the death or extended incapacity of an important member of the business.’ It goes on to say that ‘an employer may take out a key person insurance policy on the life or health of any employee whose knowledge, work, or overall contribution is considered uniquely valuable to the company.’
A key person insurance policy could be a life cover policy to protect against the death of a key employee or a disability insurance or dread disease cover policy to protect against the disability or illness of a key employee. It is important to remember that key person insurance will not cover actual losses incurred by the business as a result of the death or illness of an employee but rather pay-out a specified amount as detailed in the insurance policy.
Employees covered by key person insurance could range from senior sales managers and project managers to directors and board members.
Consider the following scenarios:
A company’s sales director falls ill and is off work for three months. For those three months sales figures will likely drop. A dread disease policy in that sales director’s name would cover these losses
A company’s managing director passes away. A life insurance policy in his/her name will cover the cost of recruiting and training a successor
A senior project manager falls ill and is off work for two months. A dread disease policy in that person’s name would cover the costs of hiring a temporary project manager for those two months
A senior sales person is disabled in an accident and is no longer able to work in an office environment. A disability insurance policy in that person’s name would cover lost sales revenue while a replacement is trained
Key person insurance is about anticipating the worst that could happen in a business and ensuring that you have the necessary financial protection in place. It is about putting measures in place to protect your business, profits and employees against risk. Invest in the protection you need today.
On the 14 February each year the world celebrates Valentine’s Day. According to Wikipedia, ‘St. Valentine’s Day began as a liturgical celebration of one or more early Christian saints named Valentinus. The day first became associated with romantic love in the circle of Geoffrey Chaucer in the High Middle Ages, when the tradition of courtly love flourished. By the 15th century, it had evolved into an occasion in which lovers expressed their love for each other by presenting flowers, offering confectionery, and sending greeting cards.’ If you are not sure what to buy your spouse or partner this Valentine’s Day, consider giving them the gift of a life insurance policy. Find out why.
You and your partner or spouse have built a life together. You have dreams for your childrens future, for holidays you would like to take, renovations you would like made to the family home and the retired life you will one day settle into.
Your family relies on the salaries that you and your partner earn. Your joint income covers everything from the bond on the family home to school and medical fees and daily living expenses. It also has to take care of your savings, your retirement savings and your unpaid debt.
Stop for a moment and think about how your partner or spouse would cope without your monthly salary. Would he/she have to sell the family home and buy a smaller home in a cheaper neighbourhood? What sort of schools would the children be able to attend? What would happen to your annual family holidays? What sort of medical care would the family be able to afford?
Enter life insurance. Also known as life cover, a life insurance policy is the protection that your family and spouse or partner need against your death and the loss of your income. In the event of your death the beneficiaries of your life insurance policy will receive a lump sum pay-out. These funds can be used to replace the salary that you earned and cover everything from living expenses to medical aid premiums. Depending on the size of your pay-out, your beneficiaries might even be able to use it to pay off some of your unpaid debt.
By investing in a life insurance policy you are investing in peace of mind for your partner or spouse. Do not leave your loved ones financially stranded in the event of your death. Do the right thing today and speak to your broker or insurance company about a life insurance policy.
Not all things similar, thus being alert in relation to details is essential particularly when money is included. The beginning of various technological advancements has turned out to be highly helpful to the world, though prices have correspondingly rocketed high-sky as well. Imitations of merchandises are prevailing just to compete with the price in the market and this may include the hiring of “trickeries” even in a worldwide industry such as the insurance business.
It does not matter if you drive the latest SUV or an outmoded sedan as long as the car is insured then everything on the road goes well. In other words, in order to be considered as a trustworthy vehicle owner, you need to see to it that your vehicle is covered with befitting protection}. Being too busy to find one is not an excuse for you can do this with less effort and time before a personal computer.|
Ensure that your insurance coverage falls within the extent of your state jurisdiction. There are certain disadvantages individuals should know about being covered by an insurance coverage. Though these protection plans may be of general nature, but it is also equally important to peruse the full contract proposal with the stipulation with respect to territorial jurisdiction.
In the USA alone, there are more than fifty sovereign states with their corresponding federal governments. These entities possess their own sets of laws which serve as guidelines for any form of contract that includes that of insurance. Therefore, be attentive for provisional disadvantages as you examine car insurance quotes with one another.
If you are unacquainted with the eligible lingo, it is better to ask a non-interested party to translate what needs to be explained. It is not secure to rely on the general definitions that are offered by specific sites. It is not because these are undependable but for the underlying reason that legal semantics have technicalities which may direct to endanger your claim when the need arises. You can also comprehend on these matters when you analyze automobile insurance quotes which involve modified versions in definitions of specific conditions.
Let your fingertips do the talking! All you have to do is position yourself comfortably at the computer and begin searching on sites that offer the kind of protection package that suits your needs. Bear in mind that it is always necessary to measure matters to analyze automobile insurance quotes carefully!
As a taxi driver, you better know how important it is to keep your taxi in a good working condition. It is a source of bread and butter for you. You take a great risk by pulling it out of the garage and drive it on the road. It may collide with a vehicle and get severely damaged resulting in the stagnancy in the flow of income. So, you need an assurance of security of your source of earning. Taxi insurance emerges as the sensible need in this context.
If you are looking for a suitable insurance for your taxi, consulting with a specialist is a reflection of your pragmatic decision. There are several terms and conditions in an insurance policy and some of them may be beyond your apprehension. Without reading between the lines you should not opt for any taxi insurance policy. An expert will understand your need and provide valuable suggestion on finding out the right deal that finely fits your financial ability.
Immediately comes the most imperative question. How to choose the best deal while shopping for a taxi insurance policy? Well, there are so many factors to take into account while digging out the best bet in the market.
Price: This is the most important consideration for the customers. They are always on the lookout for the cheapest deal. One can not blame them as the adverse economic doldrums has compelled them to desire for the most affordable policy of taxi insurance. One may check out if the company is providing the facility of monthly or quarterly payment so that you can divide the hefty amount of premium into some paltry figures that can easily chip into ones budget. In this context, one must remember that even the costly policy of the taxi insurance cannot match with the high level of premium that one has to shower for the limousine insurance.
Coverage: The suitable taxi insurance always provides some important coverage along with the most common ones. For example, third party damage to both the people and property is covered almost in all the insurance policies. Do a little bit of research if your policy involves some extra coverage such as damage to ones own vehicle or public or private hire. If the expansion of business is on the cards, ask the insurance company whether any amendment can be made to include the other named drivers.
Service quality: It is another important aspect that drives more customers to a specific insurance provider. If the taxi insurance office is packed up with a bunch of high-skilled employees who take good care of their customers in times of clearance of the claims, the company is surely to flourish in future.
The internet is a blessing for the customer today. The customer can learn about the best products and services in town before he decides which of these to buy. He can also compare the prices and other features of the products or services he requires and then decide which company offers him the best deal. There are many ways to go about this but if one uses the internet and the popular search engines for the same then one will get the most accurate and the fastest information. Everyone has easy access to the internet today and conducting an online search is very easy and simple. This way one can avail information about the best car insurance companies in Oklahoma City at the click of a button. Most of the people run the online search today to find the most well-known insurance companies or the best policies for vehicles.
Check internet for more information
There is so much information available online today that it does not make sense to look anywhere else for this information. All major insurance companies have well d designed websites that are very informative and user friendly. One can access these websites through an online search and then browse through them for more information about the various policies offered for vehicles. Most of the pertinent information can be found on the website itself and if there is anything else that one requires then one could always call the insurance company using the number seen on the website. Alternatively one could fill in an online form found on the website with ones contact details and nature of query. Someone from the insurance company, most likely a customer representative will get back to one along with answers to ones query.
Best insurance cover
Things have become so easy and simple for the customer today and he can learn of the best car insurance companies Oklahoma City at the click of a button. He can first avail the list of the best car insurance companies and then go through their websites one after the other to learn more about their policies and car insurance cover. This is definitely better than going through the local yellow pages or the telephone directory for such information. This method will take one quite long and one will have to keep making endless phone calls to the insurance companies for more information about their policies. Comparing insurance policies is the best way to avail the maximum benefit providing insurance cover for ones vehicle.