Insurance World

Do you think you have the best auto insurance coverage just because you’re with a “big name” company?

News flash, you’re probably getting less coverage than you think.

But first let’s talk about accident statistics in the U.S.…

The Facts:

There are about 3 million car-related injuries a year
•
2 million permanent injuries
•
40,000 deaths in the U.S. each year

About 40% of car accident fatalities are related to drinking and driving.
•
30% to speeding
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33% from a car going off the road

Car accidents are currently the number one killer of people ages 1 to 37.
About 1 in 30 young drivers will be injured in an accident each year.
Young drivers are four times more likely to die in car accidents.
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much more prone to speed
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drive recklessly
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not wear their seat belts
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and drink and drive

There are Approximately 6.4 million accidents each year

Approximately 40,000 people die in auto accidents each year.

You may ask yourself what are the odds of me getting into an accident?
There were 48,366 Transportation accidents in 2002.
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One year odds of You getting in an accident are 1 in 5,953.
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Lifetime odds of You getting in an accident are 1 in 77. Are you the 1 in 77 to get into an accident this year?

Did you know?
Midnight to 3 a.m. on Saturdays and Sundays proved to be the deadliest 3-hour periods throughout 2003?

In 2004 there was a total of 38,253 Fatal Crashes.
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Over 26,756 Driver crash victims
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10,304 Passenger Victims
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4,641 Pedestrian Victims
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725 Pedacyclist Victims

Let’s move on to Insurance Coverage.

Here are the 7 things your auto insurance company should give you but doesn’t!

1.
Full replacement cost paid if your new car is totaled in the first year at no additional cost.

2.
Towing and roadside assistance included with your policy at no additional charge and no reimbursement required.

3.
Bilingual insurance representatives available 24 hours a day 7 days a week to provide policy service or take claim reports.

4.
Extension of your policy coverage and limits when driving in Mexico within 100 miles of the U.S. Border.

5.
Discounted rates for qualified members of certain occupational groups.

6.
Temporary coverage for student children home on holidays at no additional charge.

7.
Waiver of collision deductibles if both parties involved in an accident are customers of the same company.

Want to check you’re car insurance rate coverage plan? Visit this reputable carrier today.
www.InsuranceByState.org Auto insurance specialists.

Which type of policy is best for you, term or whole life? The answer depends on several factors, including:

Your Needs. If you need coverage only until your children graduate from college, for example, you might be better off with a term life policy.

Cash-value insurance is better suited for long term needs, such as planning estate taxes and providing lifetime security for your spouse. Some term policies cannot be renewed past age 70 or 80 and can become costly to renew as you approach that age.

The Cost. If term life insurance is more suited to your budget and you want life time coverage, consider a term life policy which can be converted into a whole life policy. Then you can convert the policy whenever your cash flow or needs dictate. You can also purchase a combination of term life and whole life insurance and gradually shift into whole life insurance over time.

Your Savings and Investment Goals. Whole life insurance can be a good long term investment vehicle, especially because the cash value has the potential to grow tax-deferred. Should you no longer need the insurance but want some extra cash, you may surrender the policy and collect the accumulated cash value. Be sure to discuss the tax consequences with your tax advisor first.

As an alternative, you could purchase term life insurance and invest what you save on premiums on your own. Compare the returns you can expect, and remember to take taxes into consideration if you plan to select taxable investments.

So, Should I Buy Term Life or Whole Life Insurance? Term life and whole life insurance both have advantages including immediate family protection. Deciding which type of policy and which features are right for you takes careful consideration and, most times, a comprehensible look at your financial plan. To discuss your life insurance needs and financial requirements, contact your financial professional.