Insurance Info

If you already have insurance, you may wonder why on earth you need to compare insurance quotes. Here are some reasons why you need to compare insurance quotes.

(a) You need to compare insurance quotes even if you already have an existing policy since you might be eligible for certain promotions.

(b) You need to also compare online auto insurance quote options in the event you bought a new car.

(c) New buyers of insurance need to see what is available in the market and not buy what their best friend from the office bought. This is especially true if you live in a different neighborhood from your best friend and if your best friend is married and you are not. Continue reading ‘Compare Insurance Quotes Responsibly’ »

Debt is a part of life, but when debts careen beyond control to a point where you can no longer repay, filing for personal bankruptcy is a way out. However, before you file for bankruptcy, there are important repercussions you should consider, especially facts related to your life insurance premiums.

Bankruptcy and life insurance
If you own an existing life insurance policy, it is usually left untouched by the bankruptcy court, to protect the interests of your beneficiaries. If you own a permanent life insurance, you will be allowed to retain a portion of the cash value that has accumulated on it. How much you are allowed to retain depends on where you live, because the rules are different from State to State. If you have taken out a life insurance policy on someone else like your spouse or your kids, you will have to surrender the same to the court.

Bankruptcy will affect your life insurance rate.Most people file for bankruptcy because it wipes the slate clean and helps them to start over. It is common knowledge that a bad credit score will adversely affect life insurance premium rates. However, will bankruptcy improve the situation? Let’s explore the repercussions of bankruptcy on life insurance premium rates. Continue reading ‘How Declaring Bankruptcy Affects Your Life Insurance Rate’ »