High Risk Auto Insurance in Oklahoma

February 12 2009 by visitor in High Risk Insurance |Comments Off

Reader’s Question:

My boyfriend’s driving record is not good. I guess he’s even considered a high risk driver. My friend advised me to get high risk auto insurance in Oklahoma for him. What can we do about this?

Mina

Oklahoma City, OK

Being a high risk driver is not quite a good thing. For one, getting high risk auto insurance in Oklahoma may come in very pricey. And the reason is simple. If I am the car insurance company and I will take someone who is a high risk driver, then there’s a great probability that this high risk driver will be involved in a car accident or even accidents. Thus, there’s a greater chance for him to file for car insurance claims, which will then result to me as the car insurance company, paying for his damages. So, it’s only a business wise decision to charge higher car insurance rates for a high risk driver like your boyfriend.

Some of the things which will make your boyfriend a high risk driver will be a conviction of DUI or DWI and too many traffic violations and accidents. Your boyfriend’s driving record will speak for himself on how good (or bad) driver he is. But since you’ve already mentioned that your boyfriend’s record is not good well I guess the best way to do now is how to make him a good driver.

It would help him if he could attend defensive driving class to improve his driving skills. Another is to make sure that his credit score is good. So make sure he always pays everything on time. And also, it’s important that he has car insurance policy all the time. Having a lapse on his car insurance may also consider him as a high risk driver.

Since you are looking for high risk auto insurance in Oklahoma, you can check this site for free online quotes and you can check with your car insurance agent.

Medicare Coverage in Oklahoma Explained

December 13 2008 by visitor in Medicare |Comments Off

Reader’s Question:

Hello there! What is Medicare? Could you please explain to me how it is supposed to work? I live in Oklahoma.

Helen

Tulsa, OK

Hi, Helen. How old are you now? If you’re almost 65 years old, it’s time for you to know more about Medicare and when you become eligible, enroll right away. Medicare is especially for people 65 years and older. It is a federal health insurance program for Americans. This government program has many parts, the first of which is hospital insurance. This is generally paid for by employees’ payroll taxes. There is likewise coverage for physicians and their services, which is called medical insurance. People pay a premium for this which is determined by how much money they make. Finally the purchase of prescription drugs may also be covered by Medicare provided that you go to participating pharmacies. Both brand-name and generic drugs are included here.

Since this is a government program, it provides assistance to those who cannot afford health care. If it is found that you are unable to support your own medical needs, you may be exempt from paying certain fees such as deductible and even premium. It goes without saying that you must be proven to have limited financial resources. If you already have health insurance coverage from, say, a private company or from a job-based plan there in Oklahoma, you may just keep that one or enroll at Medicare in addition to the health insurance policy that you already have.

Term Life Insurance Riders in Oklahoma

December 13 2008 by visitor in Life insurance leads |Comments Off

Reader’s Question:

This 36-year-old native of Oklahoma wants to know if riders are attachable to a term life insurance. If yes, what riders can you recommend to me?

Arthur

Norman, OK

Arthur, based on your question, I can sense that you have already made up your mind on buying a term life insurance and want to load it up with riders. By the time you have read my reply, I’m sure a lot of life insurance agents have assisted hundreds or thousands of Americans who wants not only term life insurance but added life insurance riders, as well.

Arthur, most, if not all, types of life insurance policies are offshoots of term-life insurance. Also, a lot of companies now are offering special policies with life insurance riders built in to them, be they be term-life or whole-life policies. Usually, a lot of people attach an Accidental Death and Dismemberment Insurance Rider. This rider will double your death benefits if you die due to an accident, and it pays out a lump sum if any part of your body gets removed. Waiver of Premium is also popular among insurance buyers. The WOP will allow you to stop paying further premiums in case you get incapacitated or die unexpectedly. Another popular one is Return of Premiums. All premiums paid will be returned, should you attach this rider.

Arthur, there are really so many riders to choose from. There is also a Dread Disease Rider, Unemployment Rider, Child Sickness Rider and many more. Arthur, hope you give your agent in Oklahoma a call soon for a detailed explanation.

Collision and Comprehensive Car Insurance Coverage in Oklahoma

December 12 2008 by visitor in Comprehensive Insurance |Comments Off

Reader’s Question:

My agent here in Oklahoma suggests that I get collision and comprehensive coverage. How are they different from one another?

Debra

Lawton, OK

Collision and comprehensive car insurance coverage are two different things, Debr,a and both can add to your safety and security while driving. Most car insurance companies in Oklahoma offer these coverages to their clients.

Try to consider that certain events or incidents can happen, and they are usually beyond our control like weather conditions such as floods, storms, hurricanes, as well as natural calamities like earthquakes and flash fires and even theft or vandalism. And if these incidents occur, having a comprehensive coverage can be handy should your car be damaged by the said events. Your comprehensive coverage will shoulder expenses for your car’s repair or even replacement of your vehicle. If you purchased your car by means of a loan, then a comprehensive car insurance coverage will be required by the bank or the financing company. Although comprehensive coverage is an optional addition to your car insurance policy, I suggest that you still get one especially if your car is pretty expensive.

On the other hand, collision coverage will pay for expenses due to damages resulting from collision with another car or objects like lamp posts or fences or wild animals. But if you have an old or inexpensive car, the costs for repairs may be worth more than the amount of having it replaced, instead. Thus, paying for high premiums for your collision coverage may not be advantageous to you. So, think it over first before adding collision coverage to your insurance policy to avoid unnecessary expenses. After all, collision insurance is typically an optional coverage in your policy.

So, remember, collision and comprehensive insurance coverage are typically optional but otherwise useful add-ons to your existing policy.

What Is Insurable Interest Life Insurance?

December 9 2008 by visitor in Life insurance leads |Comments Off

Reader’s Question:

Can I buy my friend here in Oklahoma a life insurance policy for her?

Graham

Lawton, OK

Unfortunately you might not, unless maybe you are able to prove that you might suffer financial loss or difficulty in the event your friend there in Oklahoma suddenly passes away. In the life insurance industry this is known as “Insurable Interest”. The only parties that are allowed to purchase life insurance for someone else are spouses, family members or relatives, business partners or any individual that will suffer financially upon the death of the insured are the ones that have “Insurable Interest” and are allowed to purchase the said life insurance party for the person they wish to give coverage.

Insurable Interest actually stems on the idea that strangers may commit murder to get death benefits or death proceeds if they are allowed to insure just anyone they wish. That would be an unacceptable amount of risk for both the individual being insured as well as towards the business of the life insurance provider itself.

You might also ask who the policy owner is if a person with sufficient “Insurable Interest” is allowed to buy life insurance coverage for someone else. The policy owner would be the one who bought the insurance (and the one who will be paying it) but the insured would, obviously, be the one who is protected under the coverage. This is important to understand since there are life insurance providers who only allows the policy holder to take money out of a cash-value life insurance policy.

Increasing Term Life Insurance Options in Oklahoma?

December 8 2008 by visitor in Life insurance leads |Comments Off

Reader’s Question:

I’m thinking of either getting an increasing or decreasing term life insurance in Oklahoma. Could you tell me how these two differ from each other?

Lorie

Lawton, OK

Increasing term life insurance is also called yearly renewable term policy or annual renewable term. The face amount of this policy, which is also called death benefits, remains level or does not increase over time as long as you continue paying your premiums. Upon the death of the policyholder, the face amount or death benefit is paid to the beneficiary in a form of monthly income or in one lump sum. The reason why it is called increasing term life insurance is because its premium increases every year. The life insurance company is charging the premiums according to the life expectancy of the policy holder for a particular year.
Decreasing term life insurance has a level life insurance premium this means that the life insurance premium does not increase. The death benefits on the other hand decreases over the period of the policy in a uniform amount. The death benefit decreases in the same manner as the mortgage balance decreases. This policy is also called a basic mortgage protection life insurance.

Car Accident and Auto Insurance in Oklahoma

November 27 2008 by visitor in Auto insurance leads |Comments Off

Reader’s Question:

Hi, I’m in Oklahoma, and I’ve never been in an accident before, but I want to know just what to do auto-insurance wise if ever it happens to me.

Dolly

Tulsa, OK

Well, hello, Dolly. Yes, I hope nobody ever figures in an accident. I’ve been in one here in Oklahoma, too, and it was nowhere near pleasant. But if ever it happens, what you need to do first, of course, is to check for any injuries. Some injuries would take hours or days before they appear. It is always best to go see a doctor just to be really sure. And then there’s the matter with the police. Report the accident immediately. Then call your auto insurance company and tell them about the accident.

Speak with the other driver if you figured in a collision accident, and exchange information with him or her: phone number, address and insurance information. This is especially important if the accident was caused by the other driver. You could also look for witnesses and ask for their contact information in case their account of the accident is needed.

So, to sum it up: When you figure in an accident check for any injuries, contact the police, exchange pertinent information with the other driver, contact auto insurance company and check if you can find any witness.

After reporting the accident to the auto insurance, they will then send an insurance adjuster. Be ready to provide what you know to the adjuster. Do not add anything or edit what happened because the adjuster will confirm your story with other sources, too, such as the witnesses’ account, the other driver’s story and the police report.

How Much Life Insurance Do You Need in Oklahoma?

November 21 2008 by visitor in Life insurance leads |Comments Off

Reader’s Question:

How will I know the amount to be purchased for a life insurance policy in Oklahoma?

Alfred

Lawton, OK

In the event of a death, it is important that the loved ones of the depose ensures sufficient funds that would help the people at this time. The questing to ask now is how much is needed to sufficiently covers those that have to be taken care of.

There are issues to consider knowing the amount to be purchased on a life insurance policy. If have dependents, you would want to ensure that money covers the funeral arrangement. You may also want to cover the income that would be lost for 2 years if you are the breadwinner.
Aside from these, you may also want to consider the financial state of your loved ones. Given these factors, you would probably need $500,000. For a single, $50,000 may be enough. This can help the family eases the pain from the loss of loved ones.

For a 10-year term, a $500,000 may require you to pay $68 to 105 per month. For $50,000, the monthly premium ranges from $13 to 20 a month.

Smoker Life Insurance Rate Quotes in Oklahoma

November 20 2008 by visitor in Smoker Insurance |Comments Off

Reader’s Question:

I just want to ask why life insurance here in Oklahoma costs so much for smokers. Can anyone help me out with this?

Carl

Lawton, OK

Hi Carl. It is quite unfortunate that smokers life insurance tends to cost more than life insurance for non-smokers. I guess the best way to explain this is by letting you in on how insurance companies do their business.

You see, for insurance companies to earn money, they have to make sure that the number of insured clients they have that make a claim on their insurance policies are less than those that do not make a claim. If it was the other way around, then they will be shelling out more money than they have coming in.

For them to sell smokers life insurance, they have to balance out the risk that their insured will make a claim on their policy with their need to earn more money by getting more clients. Thus, the higher insurance premiums for smokers.

Still, there is hope for the smokers out there. There are certain companies that specialize in getting good insurance rates for smokers life insurance. Also, some smokers who only smoke occasionally can even be considered for non-smokers life insurance with other insurance companies. This will of course depend on the insurance companies policies. My suggestion is you find yourself a reliable agent in Lawton, Oklahoma who can assist you in finding the product that will best suit your insurance needs.

Cheap Life Insurance Rates Oklahoma City Oklahoma

November 15 2008 by visitor in Life insurance leads |Comments Off

Reader’s Question:

I appreciate life insurance and what it does, but I don’t know which one to get and which will be right for me. Can you help me find one in Oklahoma City, Oklahoma?

Francis

Oklahoma City, OK

Hello, Francis, how are you today in Oklahoma City, Oklahoma?

I hope this is okay with you if I first discuss briefly the types of life insurance available for you in Oklahoma City, Oklahoma. Life insurance generally fall into two categories namely temporary and permanent. All of which will have the standard death benefit feature which is a sum of money that will be handed out to your beneficiaries as agreed upon by you and your insurer. Under temporary life insurance, there is only one type of life insurance and this is the term life insurance. Term life insurance is the cheapest among all life insurance products but will cease to be effective after the term. Say your term life insurance is good for five years and after five years, you have not passed away yet, then you will not be able to get any benefit from your life insurance. Term life insurance will be attractive to those people with life-threatening disease, or if you have a short-term goal which you just have to protect by any means.

Permanent life insurance now has two types called universal life and whole life. Both will be effective starting from the day the life insurance policy was finalized until the day you die. Their difference lies in the manner they are handled, because universal life policies tend to have more flexibility than whole life. Whereas whole life insurance has fixed premiums and death benefit, universal life has flexible payment schemes and death benefit is subsequently adjusted, too.

Finally, you might also want to consider the cost implication of all three types on life insurance, Francis. You may be working on a budget now and it will be good for you to check out some life insurance proposals by entering your zip code on the blank space you see on this page.

« Previous Page — Next Page »