Posted on Tue, Nov 30, 2010
Thanksgiving is being celebrated a lot these days for one life insurance company in particular. It’s a way of saying thanks for a unique program that reaches out to those in need with a free life insurance policy.
MassMutual has been offering what it calls LifeBridge policies to low-income families to help pay for their children’s education expenses if the family’s primary breadwinner were to die. Should the unthinkable come to pass, the death benefit also can be used to repay student loans.
Since 2002, MassMutual has written more than 11,400 policies worth $575 million for low-income families across the nation and has paid 13 claims so far. The company is about halfway to its goal of reaching the $1 billion mark.
“In 2002, we realized there are a lot of people who couldn’t afford life insurance but needed it,” said program manager, Cindy St. George. ”We wanted to combine our focus on philanthropic service with one of our primary products — life insurance.”
The company partners with local community groups such as churches and charitable organization like United Way to host application drives for families who could benefit.
One requirement of the LifeBridge policy is that the insured person must be employed full or part time with total family income of between $10,000 and $40,000
Only 44 percent of U.S. households have individual life insurance policies, and among households with children under age 18, which arguably have the greatest need for life insurance, 11 million families have no life insurance coverage.
Marvin Feldman, president and CEO of the Life Foundation, said for children who lose a parent, the LifeBridge insurance policies can make the difference between being able to attend college or not.
For those who can afford life insurance, picking the right policy has never been so easy. For affordable life insurance rate quotes, the helpful professionals of Efinanical rate a call.
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Posted on Sat, Nov 27, 2010
It wasn’t all that long ago that credit cards were made of paper, not plastic, yet still carried the prestige of a mobile society making purchases with the cachet (if not the cash) of paying on credit.
Diner’s Club took its place in the pantheon of credit card history when its founder and president suffered the indignity of being caught out for dinner without his wallet.
The first bank credit card, from Bank of America, arrived in 1958, and things have never been the same since. While the urban myth is that most Americans owe an average of $8,000 on their credit cards, that figure is actually a fiction. (Indeed, the figure is simply the result of dividing total consumer debt by the U.S. population of cardholders, but the debt is not spread evenly).
In fact, analysts Fair Isaac (FICO) confirm that average Americans are light to moderate users of credit:
- About 48% of credit card holders owe less than $1,000
- About 10% of card holders have total card balances in excess of $10,000.
- More than half of all people with credit cards use less than 30% of their total credit card limit.
- Just over 1 in 8 people use 80% or more of their credit card limit.
Take a stroll, or a charge, down memory lane with this visual parade of credit card milestones courtesy of CreditCards.com and The Big Money. And when it comes to affordable life insurance value, look to the leaders at Efinancial for classic value that never goes out of style.
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Posted on Mon, Nov 22, 2010
You may be content to wait until the day
after Thanksgiving for the traditional start of the pre-Holiday gift-buying season. But the major box, discount and retail stores, hoping to revive a sluggish economy, are chomping at the bit to win buyers’ attention even sooner, and many plan to be open on
Thanksgiving Day for those who want to turn calories into extra cash a day early.
For the first time, Sears is opening on Thursday, from 7 a.m. until noon, finally joining the long tradition of Sears’ Kmart division, which has opened on Thanksgiving for 19 years. This year, Kmart is allowing shoppers to buy online and pick up their purchases at stores on Thanksgiving. Kmart’s hours are longer, from 6 a.m. until 9 p.m. Both stores plan to offer discount deals on Thursday and Black Friday.
Gap Inc. opened about three-quarters of its Old Navy stores last Thanksgiving and the response was so “tremendous,” says a spokesman, that it is opening about 90% of them this year. A handful of Gap and Banana Republic stores will be open again this year. Old Navy is open from 9 a.m. to 8 p.m., but the hours at Gap and Banana Republic vary by location.
In the online world of e-commerce, there are also deals-a-plenty to be found if you know where to look. Fresh from rumors that they are about to be bought by Google, the group buying site known as Groupon has even announced it own “holiday,” Grouponicus, complete with a mascot (Groupo the Bargain Bird), the daily coupon site is ready to compete with the likes of eBay, Amazon, and Google Product Search for your gift shopping this year. Multiple deals will be announced daily, at 50- to 90-percent savings. And Groupon is extending the 24-hour time limit on them, making all Grouponicus deals available for three to five days.
Efinancial will, as always, be accepting applications for affordable life insurance, and more insurance products, around the clock, 24/7/365. We are always here for you! Happy Thanksgiving from our family to yours, and may you find peace and prosperity in the coming year!
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Posted on Fri, Nov 19, 2010
A national survey has revealed that more than 75 percent of auto insurance policyholders in the United States would welcome a computer-monitoring,
“telematics-based” insurance program if sharing their driving data had the potential to reduce their premium.
Insurance empowerment programs that give drivers control over their insurance rates and the opportunity to understand and modify their own driving behavior are increasingly popular among responsible policy holders.
- 57 percent of policyholders believe auto insurance rates should be determined by actual driving data
- 80 percent of policyholders believe that tailgating should affect rates
- 59 percent of policyholders believe that miles driven per year should be used to determine rates
- More than half of policyholders feel that minor speeding infractions (5 mph over the speed limit) should not impact rates.
Concerned about privacy? The survey also measured consumer comfort levels around sharing personal driving information compared to other types of personal information from sources including Internet banking, mobile phones and social networking sites. The results showed that 57 percent of policyholders are comfortable sharing information about events that led to traffic accidents with insurance companies; a much higher response than the 29 percent who indicated they were comfortable with social networking sites storing personal information such as messages and photos posted on websites.
Why pay more? Talk to Efinancial about affordable automotobile insurance.
Telematics systems in automobiles provide a variety of navigational and emergency services to motorists, e.g. GPS systems. Some insurance companies are beginning to use data collected from telematics systems to correlate driving behavior with insurance rates; however, storage of telematics data remains limited. Worldwide, 84 percent of all cars shipped by 2016 will incorporate telematics systems, up 19 percent from 2008 according to iSuppli Corporation.
The survey findings show tremendous receptivity to allowing insurance companies to base rates on driving behavior,” said Stephanie Stevens, director of marketing and product development for Telematics at LexisNexis Risk Solutions. “We encourage insurance companies to use the findings to re-evaluate how they shape and market their telematics programs to best meet the needs of their policyholders.”
The web-based survey polled 3,472 U.S. residents. Of this number, 3,148 were a representative sample of insured drivers and 324 were drivers with a 16 to 25 year-old dependent on their policyTo get a
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Posted on Mon, Nov 15, 2010
Off Your Desk, a “first-of-its-kind” health insurance claims service for busy individuals and families, has unveiled an innovative brand of service for consumers nationwide. The company provides its customers with an effortless way to manage health insurance claims and related paperwork. Originally launched in February 2010 on an invitation-only basis, the company’s services are now available nationwide.
It’s no secret that dealing with health insurance claims and related paperwork can be confusing and complicated. The American Medical Association estimates that more than 20% of medical claims, even when submitted accurately, are processed incorrectly by commercial medical insurers.
“Off Your Desk offers an effortless, high-value solution to the hassle of managing health insurance claims and related paperwork” said Jeff Pressman, president and founder of Off Your Desk. ”Our customers simply send us their routine insurance paperwork and medical bills, and our team of highly experienced claims experts takes it from there. Just as accountants help busy people manage their taxes, we work tirelessly to ensure our customers get back everything that they deserve, painlessly.” So how does it work…
How it works: customers send in their insurance statements and medical bills using prepaid mailers and Off Your Desk’s expert team manages the process from there. Customers can view and track everything via a privacy-protected online portal.
Off Your Desk’s Service Plans:
- Catch-Up Plan: Many consumers have accumulated a stack of older, un-processed paperwork. Under this plan, Off Your Desk will organize all that paperwork, audit existing claims for accuracy, and submit new claims when necessary. ($295 one-time fee)
- Monthly Support Plan: Under this plan, Off Your Desk becomes the customer’s constant resource, processing new paperwork as it comes in and constantly working to maximize reimbursement. ($65 base fee/ month)
- Custom Packages: For consumers with special requirements, Off Your Desk will design a custom package to suit each customer’s needs. A popular example is the company’s “Stork Package”, designed to handle the insurance hassles that often burden expecting moms.
- Customer Advocacy: As experts in navigating health insurance plans and claims, Off Your Desk will stand by as a knowledgeable advisor for the needs of each customer, and provide help processing occasional claims. ($195 base fee/ year).
Making it easier once you have insurance is the mission of Off Your Desk, just like making it easy to get the most affordable insurance, is our job at Efinancial. Visit Efinancial for a free insurance quote today.
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Posted on Fri, Nov 12, 2010
An important part of going to work for a company is the opportunity to earn a “hidden paycheck” in the form of employee benefits. At this time of year, many workers are asked to re-enroll in company benefits programs. At times like these, you want to make smarter benefit choices. Here are seven common mistakes to avoid during annual enrollments.
Mistake 1. Being unprepared.
Don’t let your enrollment date slip up on you and leave you unprepared. Take a look at your benefits materials beforehand. Discuss your family’s benefits needs with your spouse. Be sure to understand any changes that will be made to your new plan.
When it comes to life insurance benefits, will you be forfeiting coverage if you leave your job? It may make sense to take ownership of such insurance with a private policy that won’t lapse or fade away. Compare coverage and benefits with Efinancial to fill in any gaps in your employer ‘s plan.
Mistake 2. Not knowing what benefits you currently have and their cost.
To learn what benefits you already have, ask for and review a benefits statement, if your employer provides one. Size-up the value of the benefits your employer provides, identify any gaps in coverage and determine how much you can spend on any additional benefits you may need.
Mistake 3. Not checking to see if your dependents are still eligible for coverage.
The new health care reform law allows dependent children (up to age 26) to remain on their parents’ health insurance plan unless they’re eligible for coverage through their employer. To avoid confusion and disappointment, make sure your dependents are eligible for health coverage and any other products and programs offered. Be sure to update personal information as needed.
Mistake 4. Not taking advantage of flexible benefits plans and pretaxing premiums.
Many companies offer flexible benefits or “cafeteria” plans that allow you to pay for certain qualified benefits on a pretax basis, which reduces your taxes and increases your spendable income. Participating in a flex plan also allows you to tailor your benefits to meet your individual needs, makes your benefits more affordable and allows you the opportunity to purchase additional benefits with the tax savings.
Mistake 5. Not attending a group meeting.
Many companies schedule group meetings prior to their benefits enrollment to give employees an overview of their new benefits packages and any changes or additions that have been made. Group meetings are a good way to find out what’s new and get the answers to any general questions you have about your new benefits plan. Take time to attend, so you’ll be better prepared to make smart benefit choices.
Mistake 6. Renewing your current benefits without reviewing them first.
Don’t take a passive approach and simply renew the same benefits selections you had last year without first reviewing them to make sure they’re relevant. Situations change, and your benefits should change along with them. Marriage, divorce, the birth of a child and changes in your salary can all affect your benefits needs. Take the time to review your benefits each year to make sure they still fit you and your lifestyle.
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Posted on Tue, Nov 09, 2010
You’ve heard the claims. “Get
instant life insurance protection for your family online!”
But a conspicuous consumer would ask the obvious question: How can I get immediate coverage if a doctor’s appointment is required for the policy?
The concern is a valid one, for some traditional forms of life insurance. But there are products that deliver on the promise of “Insurance Right Now!” ”Instant” protection for your family for whatever unforeseen events may occur is available, practically from the moment you print out your policy online!
One such product offered through Efinancial is RBC ExpressTERM. Apply for this product from anywhere — your desktop computer or your cell phone, and you can get up to $250,000* in coverage in around 15 minutes. No lengthy delays. No medical exam – just answer a few health questions. You don’t even need to speak to an agent.
With RBC ExpressTERM, once you apply online and are accepted for coverage, your insurance protection begins the very same day. Your premium is guaranteed. And with coverage amounts up to $250,000*, there’s term life insurance to meet any need or budget.
You can’t choose the right life insurance if you don’t have a choice. Let Efinancial do the life insurance shopping for you. And, if you prefer, save that medical exam for another time!
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Posted on Fri, Nov 05, 2010
A survey from
J.D. Power and Associatesreleased this month revealed that half of the respondents did not realize what their homeowner’s insurance coverage actually protects.
The Insurance Information Institute notes that a standard home insurance policy provides four kinds of coverage. Those include protection for a home itself, personal belongings, liability concerns and additional living expenses should you but put out of your home by covered damages.
Coverage fort structural damage through a home insurance policy includes protection against fires, hail and lightening, along with other calamities listed in an agreement.
“It will not pay for damage caused by a flood, earthquake or routine wear and tear,” the Institute said. “When purchasing coverage for the structure of your home, it is important to buy enough to rebuild your home.”
The Insurance Information Institute said that belongings are generally provided for at 50 to 70 percent of the total home insurance amount. In order to ensure consumers have enough coverage for their possessions, they should take an inventory of their items.
Home inventories should include more than just a list of possessions. Receipts, pictures and even videos can help if a consumer should have to make a claim in the future. Experts note it should be kept in a safe place, such as in a bank vault or with a trusted friend or relative.
Liability coverage protects policyholders against lawsuits tied to injuries or damage to other people’s property. It will also pay for court costs for as much as is offered through the policy.
Liability limits generally start at about $100,000. However, experts recommend that you purchase at least $300,000 worth of protection. Some people feel more comfortable with even more coverage.
To be protected against floods or hurricanes, consumers should pursue additional coverage. Both types of homeowners insurance can be discussed with the home insurance specialists of Efinancial.
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Posted on Tue, Nov 02, 2010
When most people imagine how they will pay for the very real eventuality of nursing-home care or in-home care during their twilight years, they typically think about long-term care insurance or cash received from a reverse mortgage on a home.
The Hartfordhas begun innovating with a smart, new alternative.
Think of it as a ‘reverse mortgage’ not on your home, but on your life insurance policy. It’s a rider on a permanent life insurance policy that allows the policyholder to draw down on the amount of money that would otherwise be paid at death to a beneficiary.
Let’s say you are paying premiums on a $500,000 permanent life insurance policy. If you find that you suddenly need the money for elderly care if you become chronically ill, a portion of that money could be withdrawn and offset against the total value of the insurance asset.
In the Hartford plan, to use money that has been reserved as a death benefits, the policyholder must be “chronically ill,” as verified by a doctor. No receipts to verify expenses are necessary, which is a requirement with most long-term care policies.
The LifeAccess rider was first sold by The Hartford in 2007, but it has begin to be offered in other states. Will the rest of the life insurance industry follow suit?
A useful feature with the Hartford product is that people who have a permanent life policy can add the rider for an extra 5 percent to 15 percent of the cost of the life insurance policy. As an example, it would be about $500 more per year for a 55-year-old to receive $500,000 worth of coverage.
What is most economical is that the rider alone is less expensive than paying premiums on a long-term care policy. While the combined cost of a rider and a permanent life insurance policy is more expensive than long-term care insurance, there is no death benefit with long-term care, known as “use it or lose it” coverage.
Innovation in life insurance is a smart idea. That’s why Efinancial has taken the time to offer online customers the latest innovation in cpmparison shopping among products and policies from America;’s top insurance companies. You can’t choose the right policy if you don’t have a choice. Rewquest a free life insurance quote from Efinancial, and “click and pick” the most useful coverage for your family’s needs.
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Term Life Insurance Quote or Research how to
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