The Evolution and Revolution of Search Engines

Search engines, where would we be without them? Within the past 10-15 years the internet has become a huge part of every day American life. Many people nowadays cannot remember the time prior to having this wonderful information highway we call the internet. The internet has really revolutionized the way people live their lives; for example, you can bank online, buy just about anything you want online, meet new people online, and even find local movie times. However, one of the biggest benefits of the internet is the use of search engines. At any moment in time you may have a question, or an urge to get more information about a certain topic and that information can be easily attained through a search engine. In this article I am going to give you a brief history on the evolution of the search engine, and show you how they truly have revolutionized our lifestyles.

The history of search engines is the story of university students' projects evolving into commercial enterprises and revolutionizing the field as they went. The first attempt at creating a search engine was called Archie, and it was created in 1990 by Alan Emtage, a student at McGill University. This very primitive search engine did not use any robot technology. All Archie really did was just become a database of archived file names, which it would try to match with users' queries.

The next evolutionary step of the search engine was the introduction of "robots." The first use of robot technology was in the search engine World Wide Web Wanderer. Simply what robots would do is scan the internet for URL's, starting at one site and using the links in the previous site to find more sites. The problems with these first robots were that if they were not written properly they would cause too many hits on a server decaying the systems performance.

To combat these initial problems Martjin Koster came out with the first web directory called "Aliweb" in October 1993. Web directories are different than search engines because the sites listed in them are not from automated robots, but rather from human editors reviewing sites and placing them in the directory.

However, shortly after, in December 1993, a new robot was born. This was called the "spider." Spiders added a much further degree of accuracy by indexing the entire text of a webpage. The older robots only indexed the URL and titles of a page, which meant that some pertinent keywords might not be indexed. This greatly improved the relevancy rankings of their results, and thus was the first major step in forming the major search engines that we have all become so used to using today.

Not long after the spider, we saw the emergence of some of the big guns. In 1994, out of Stanford University came the extremely famous Yahoo. The two guys who started Yahoo were students, David Filo and JerryYang. Basically, at first Yahoo was just a list of these guys' favorite websites. But soon, due to its easy, user-friendly interface, became the most popular web directory. Due to the fact that its websites were all human reviewed, Yahoo was only able to index about 1% of the web. At this time, Altavista became the fastest growing search engines using the spider technology and was indexing up to 10 million pages a day.

By this time there are two different types of search engines, "author controlled" such as Altavista and Excite, in which results were ranked by keyword relevancy, and "editor controlled" such as Yahoo, in which humans manually placed websites into their index.
Then in late 1997 out of Stanford University bore the most popular and well-known search engine to date: GOOGLE Google has a different way of ranking its websites. It used a Pagerank system. Simply what they did was list websites higher in their results based on how many links were pointing to a particular site. Of course, the content on the page had to be relevant to the keyword typed into the search box. But basically, Google invented what you could call a system of voting. So a site with numerous backlinks or votes would rank higher. A backlink is just when someone else puts a link on their site that points to another outside site. Jump forward to today and Google has more than 80% of the websites on the internet in their index, which is pretty impressive.

Search engines have had a huge impact on the American lifestyle. They basically will grant you just about any information you want, all you have to do is type into the search box the topic you want to find more information about. Human beings are natural born information junkies, we always want to know more and find out more and search engines have made this urge of ours extremely easy to cure. Just think about it, maybe you need to fix a simple problem you have with your car. By using a search engine to do some research you may very easily figure the problem out, saving you a very costly trip to the car repair shop. They are just great educational tools, before search engines emerged if you really wanted to learn something you would go to your library and check out a book. Now before making that trip you may find out what you wanted by just sitting at your desktop and surfing through Google. The list goes on about the many benefits of this great new technology we call the search engine. I'm sure you can recall a time when you found some very good information by using one. If you're anything like me and find yourself addicted to this easily accessible information highway, then your making uses of them daily.

Search engines by nature were made very easy to use. However, with a little extra knowledge about how they work you can really take advantage of them and find great information very quickly. With the right knowledge of search engines and the use of specialized tools, you can literally find anything you want. And when I mean anything, I mean ANYTHING. For me personally I am excited to see what search engines will evolve into in the future. The sky is the limit. Who knows what type of search spiders the future will spawn, but one thing is for sure there will be newer and newer search technology, it's just our human nature to keep trying to top ourselves.

6:52 PM   by Unknown ·   0

Free SEO keyword analyzer tool!

This article is about a free website which has a great text analysis tool, that is very useful for anyone in the internet marketing game or who optimizes their website for search engine rankings. The site address is www.textalyser.net this tool really does the job when it comes to analyzing either all the text on a website or just a certain portion of your choice. Giving you all sorts of great information about the keywords used in the site. 

When you first enter the site, you can either paste in a certain portion of text into the designated area, or you just type in the URL of the whole website you would like to have analyzed. Then you can choose as to what analysis options you would like to perform. Such as the minimum characters per word, whether you would like it to ignore numbers, and a few more. After you chose your options, then you simply click analyze the text, thus returning you a complete very detailed analysis. 

At the very top of your analysis, it shows some basic text information like the total word count, number of different words used, sentence count, a readability index ranging from easy to hard. That little function comes in handy, because you definitely want the text of your page to be easy for the viewer to read. 

The next and perhaps most important feature, shows you the occurrences and frequency at which the top keywords for your page show up. It ranks them from the number one word to whichever number you would like it to stop at. That is set at the options you chose before you analyzed the text. This particular feature is very nice to SEO's, seeing as that it lists the top words on a site and the density/frequency of which they appear. So an example of how this might help would be if you were targeting to have a certain keyword density for a particular keyword on your site. Thus enabling you to figure out whether to add more or less of that word to meet the density at, which is required for the search engines to list you for that keyword. 

Not only does this tell you your top ranking keywords it tells you the top word phrases, ranging from 2 word to 5 word phrases. It gives the count of how many times that phrase was used and also shows the frequency compared to the rest of the text on the page. 

Anyone who is in the internet marketing field, especially marketers who optimize their websites for search engine traffic can make great use of this free tool. I personally find great use in this tool in the process of my keyword research, which is essential for any search engine optimization campaign.

6:49 PM   by Unknown ·   0

SEO Services, What To Look For

Search engine optimization has evolved into a competitive, growing industry. There are plenty of hoaxes and scams on the web. It seems that as the Internet grows more complex, so do the scams. Choosing an effective company can be quite a challenge. There are many factors to consider when hiring an SEO service. This article gives advice on how to select a credible website optimization service.

Assess the services and credibility of the SEO company. Customer service is always the key factor that one should look at. There are many ways of assessing an SEO service. One can try to inquire by placing a call or by sending an email to the company. Depending on the courtesy and time of response, you can initially assess its customer service. Does the company provide an "about us" page on their website? A reputable online business will provide an informative look at the personal side of their company and who they are. Look for other company details such as, the company address and location.

Avoid a guarantee of instant results or the #1 position. There are many factors to consider when optimizing a web page. Search engines use different algorithms and their spiders can vary. Any SEO company that guarantees the #1 position in the search results should be avoided. A legitimate company will be straight forward and honest and will tell its clients that no single company can give a guarantee of the top positions in the search results. A desirable SEO service should also provide reports and details regarding the standing of a client's website. They will be able to track the developments of their clients website in terms of keywords, links and their rankings in the major search engines.

A customer testimonial can provide a valuable insight when assessing a company's credibility. A satisfied customer is always a good indication of the effectiveness of a company's operations and will always be the most valuable piece of information about its integrity. If possible, try to locate and contact people who have received benefits from hiring an optimization service or at least try to validate the testimonials.

It's important to consider the cost of website optimization. Keep in mind a higher price does not necessarily mean the expensive services are more effective than the less expensive ones. The optimization rates companies charge may vary greatly. Search engine optimization is a trial and error process which requires research, hard work and dedication. Make sure the SEO service is primarily involved in search engine optimization and does not treat it as a sideline.

6:46 PM   by Unknown ·   0

Search Wars! Battle of the Major Search Engines

It's pretty safe to say that anyone who has a computer has at some point or another used a search engine. Search engines are extremely useful creatures. They have had a major impact on our society, I mean it's pretty amazing that you can just go type in anything you want into a search box and get back information about it in about two seconds. Before search engines came along you pretty much had to rely on going to the library to get more information. With that being said the popularity of search has created quite a huge market. The advent of paid advertising has sprung search engines into a multi-billion dollar a year industry, thus creating some pretty stiff competition. Right now we are in the midst of a major war on the internet, with the major players being Yahoo, MSN, Google, and an upcoming strong contender in Ask. So you may ask who is winning this war right now? And why? And who will take the lead in the future? One thing is for sure the reward of being the king of the search mountain will reap billions and billions of dollars annually.

So what are these top gun search engines competing over? The answer is clicks, on the paid advertisements they present every time someone uses their search engine. If you notice when you use Google for example that at the very top of the page and on the right hand side it says sponsored sites. This is where people trying to make money online pay to advertise for their company. These prices range from nickels and dimes per click, all the way up to hundreds of dollars per click, depending on the keyword. So the main objective for a search engine is to get as many people as possible using them to search the internet. Just think about it for a second, the more searches they get, the more chance of people clicking on their paid ads, which is where they make their money. Now of course not everyone is going to click on the paid ads, only a small percentage of the searches they receive ever actually make the search engine money. However, with millions of searches a day it only takes a small percentage to really make a big monetary difference.

So who are the warlords going to battle here? And who is in the lead? The three major competitors are MSN, Google, and Yahoo, and Ask is fighting its way back into the mix of things with some pretty sweet search features.

As of right now Google is in the lead, they receive somewhere in the ballpark of 80% of all search queries on the internet. Google is estimated to gross around 3 billion dollars in 2006, all from just paid advertisement. Now you may ask why is it that Google is so far ahead? Well, there are a few reasons. First, Google has the most advanced algorithm, which is the mind boggling mathematical equation that ranks and lists sites depending on the keyword. Trying to understand their algorithm is extremely complicated, Google only hires absolute geniuses to work for them. Second, is the brilliance of Google.com itself, which is their homepage.

Take a look at Google's homepage, all you can do is type your keyword in the search box and hit search. There's really nothing else going on it's pretty clean cut and user friendly, with absolutely no distractions from getting people to do what they want. Which is search

Now take a look at MSN, or Yahoo's homepage. It is just jam packed with all sorts of stuff to do from playing games to reading articles about the news. This stuff is great and all, however it does distract people from typing into the search box and inevitably clicking on a paid ad putting money in their pocket. I believe this is a major part in why Google has such a gigantic lead in the volume of searches they receive compared to the other top guns. .

So I firmly believe that in this case the giant will not be taken down. Even though you see commercials for Yahoo and Ask, you know the ones with the cheesy guy screaming Yahoooo and the monkey that Ask is featuring. The bottom line is Google has the best algorithm right now and their site doesn't distract people from searching, which will yield many more search queries. Who knows though just as Google basically came from no where and took over the market, there may be a new kid on the block that will topple them. However as of now though they are the reigning champions.

6:43 PM   by Unknown ·   0

SEO- 9 Ridiculously Easy Steps to the Top 10

Search Engine Optimization companies are making a fortune by doing the menial work that is overlooked by many designers. It is ridiculously easy to do most of the work done by most SEO companies, all you have to do is create good habits.

There are 9 main points you should focus on:

• Keywords
• URL Text
• Description, Meta tags
• Title tags
• Image Names
• ALT tags
• Heading tags
• Content
• Hyperlinks

The focus of these 8 steps is to load your pages with as many "keywords" as possible.

Keywords
Keywords are the most important aspect of good SEO, this is where you tell the Search Engines what your site is about. Search Engines use an algorithm to determine the "Keyword Density" of your site, this formula is:

Total Words ÷ Keywords= Keyword Density

Use this formula on your competitors web site and see how they score, then aim to beat that score.

Choose keywords that best relate to the information, products or services that you are offering. For instance, if I am designing a site about "Web Design", I want my site to include the words "Web Design" as many times as possible.

However, most people don't just search for just one word, they type phrases, so you should consider the phrases that best suit your sites target market. For example, if I am creating a site about "Web Design" in New Orleans, I would include "New Orleans web design" in my keywords. Another way around this is to not separate my keywords with commas, just use spaces, and the Search Engines will make the phrases for you. The most important thing to remember is that the content of each page is different, so only use keywords pertaining to that page.

URL Text
When you name a new page you have the option to call it anything you could possibly think of, why not use a keyword? After all, the URL address is the first things a search engine comes across when indexing your pages. You have to remember content doesn't come easy to everyone, so you gotta slip in your keywords when the process gives you an easy one.

Description Meta tags
These tags are dwindling in importance since Search Engines are now looking at content, but every little bit counts.

Optimize your meta tags to match your content, products, and services, and the Search Engines that still look at meta data will reward your efforts.

Title Tags
Title tags are the tags that tell the Search Engine the title, or formal description of the document or page. This is the word or phrase that is seen at the top of the browser window. The most important rule about title tags is, don't put anything in the title tags but keywords. Once again this is an easy time to slip in your keywords, so don't miss out.

Image Names
As I said before, content doesn't come easy to everyone, so slip in your keywords whenever possible, this applies to image names. If you are saving a picture of a guy working on a computer for your web design web site, don't call it "some_dude.jpg", call it "web_site_design.jpg". The Search engine will look at the code for the site and see the image pertains to the content of the site and this will be another relevant element on that particular page. You have to take the easy ones when you are given a chance.

ALT tags
ALT tags are keywords that you can attach to images, giving more weight to the image since Search Engines can't analyze the content of the image itself. Here is a chance to slip in more keywords without writing great content, use it.

Heading tags
Heading tags are associated with the bold font that leads into a section of text. Like this:

Web Design
Web Design Inc. offers custom web site designs...

Your heading tags should only be keywords, and should be presented in the order that your Meta tags follow.

H1= first meta tag, H2= second meta tag...

Try to utilize all 6 heading tags on each page to ensure maximum page optimization.

Content
As every expert will tell you, "Content is King." Each web page should have at least 350 words on it, and the more the better, but keep in mind the formula for keyword density. You don't want to fill a page with 1500 words of jibba-Jabba and only 5 keywords in it. Some people get hung-up on how browsers display text, and use images with text in them because they want a cool font, but browsers can't read the text embedded in images, so this content ads no weight to the page in a Search Engines eyes.

Linkbaiting is the new trend among high ranking sites. Linkbaiting means writing quality content, or articles that other web sites can display on their pages as long as they give credit, and a link to your site.

You don't have to be a vi or emac expert to write good web content, just be thoughtful of how you word things and incorporate your keywords.

Hyperlinks
Hyperlinks are text links to other pages on your site. The rules of SEO and hyperlinks are easy:

• Use hyperlinks so the Search Engine will have a text link to follow to the next page
• Don't use one word links, use long link phrases, preferably keyword phrases
• Use bullets, or some sort of small image that you can attach an ALT tag to, this will ad more importance to the link, and throw in a couple of free keywords for you.

Keep these 9 aspects in mid when designing a site, and you are sure to have a leg up on the competition.

6:38 PM   by Unknown ·   1

Life Insurance - Money Saving Top Tips

More and more people are buying life insurance online and the numbers seem to be doubling every two years. The reasons are clear. Prices are lower on the Internet and life insurance is fundamentally a simple insurance product.

Despite the underlying simplicity of life insurance, most web sites channel their online clients through a telephone based help and advice service manned by experienced personnel. They represent your safety net so if a little technical knowledge is called for, help is at hand.

But it's always a good idea to have a few Top Tips in your back pocket when you're shopping online for life insurance. They'll help you ask the right questions and find the best policy.

1. Always have your Life Insurance policy "Written in Trust".

This means that in the event of a claim, the money goes directly and immediately to the person(s) you nominate when you first take the policy out. It also avoids all possibility of your estate having to pay Inheritance Tax on the proceeds of your policy and that could represent a 40% tax saving!

All you have to do is tell the online brokerage organizing your policy that you want your policy "Written in Trust" and the names of the people who the life insurance company pay in the event of a claim. They will then sort it all out for you. The extra good news is that this service is invariably free of charge. So it's a win win situation and there aren't many of those around these days!

2. In the early years a Reviewable Life Insurance Policy will be cheaper, but a Guaranteed Policy will work out a better buy in the longer term.

With a "Guaranteed Policy" the insurance company guarantees never to increase your policy's premium.

With a "Reviewable Policy" you agree that your insurance company can review the cost of your policy at regular intervals. But don't be kidded - in our experience a "review" is just another word for a price increase. After all, who's ever heard of an insurance company passing up a chance to charge you more! The review intervals are usually between 2 to 5 years, but this does vary between insurance companies. You will find the details of the review intervals on the documents sent to you before you accept the insurance - these are called The Key Features Documents.

So, comparing otherwise like for like policies, in the early years the premiums for a "Reviewable Policy" will undoubtedly be lower than the premiums for a "Guaranteed Policy". Thereafter, the premiums for a Reviewable Policy increase eventually catching up with and overtaking, the premium for a "Guaranteed Policy".

In our experience, you can expect the monthly premiums for a Reviewable Policy to exceed those of a Guaranteed policy in about 7 to 10 years and then within the following 10 years, more than double again. If your budget is currently tight, then by all means chosen a Reviewable Policy - after all, your salary may increase in coming years and ease the strain. On the other hand, if the premiums for a Guaranteed Policy are affordable, we think they represent your best buyer.

A footnote. Many insurance companies have stopped offering "Guaranteed" rates for standalone critical illness insurance policies. This because they have experienced much higher claim rates than they initially expected. However, you may still find a Guaranteed life insurance policy that also provides critical illness cover. As we have explained, "Guaranteed" rates are especially good value and if you can get a quote for a Guaranteed life policy that includes critical illness cover, you may have a real bargain.

3. Thinking about a Joint Life Insurance Policy?

A Joint Life Insurance policy is usually written on a first death basis. This means that the policy will pay out on the death of the first policyholder, subject to the policy being in force at the time. This leaves the second person uninsured and older. Older people can struggle to get life insurance at an affordable premium, so rather than a Joint Policy consider taking out separate policies now. Overall, it will work out a little dearer - but you get twice the cover and double the peace of mind.

4. Taking out a Life Insurance Policy? Now would be an ideal time to include Critical Illness cover.

Are you likely to need Critical Illness Insurance in the future? Yes? Then consider adding it now to the life insurance policy, you're arranging. Why? There are three reasons.

Firstly, a Life Insurance policy combined with Critical Illness cover will work out significantly cheaper than buying two separate policies. Secondly, as we have already explained in the footnote to Tip 2, you may be able to buy a combined Life and Critical Illness policy with a guaranteed premium. That could be a real bargain. Finally, premiums for critical illness cover increase rapidly as you get older - so the sooner you take it out, the cheaper it will be.

5. Don't confuse Terminal Illness cover with Critical Illness cover.

There's world of difference between Terminal Illness and Critical Illness cover so it's important to understand the difference.

Terminal Illness cover pays out the insured lump sum if a Medical Doctor diagnoses you with an illness from which the Doctor expects you to die within 12 months. Most good life policies automatically include Terminal Illness cover at no extra cost. It's basically an early, and welcome policy payout.

A Critical Illness policy pays out the insured lump sum if you are diagnosed with one of a wide range chronic illness and there is no life expectancy criteria. Indeed, with many of the insured illnesses you could expect to survive for many years. For example: certain cancers, heart disease, stroke, multiple sclerosis, loss of speech, sight or hearing, onset of Parkinsons or Alzheimers disease, third degree burns etc. Say you were an engineer aged 40 and you lost your sight. A Critical Illness policy would pay out immediately and that money could well be vital in helping you and your family through many difficult financial years ahead. If you just had Terminal Illness cover there'd be no chance of a payout.

So as you can see, Critical Illness cover is far more comprehensive than simple Terminal Illness cover and for that reason critical illness cover always costs you extra.

6:34 PM   by Unknown ·   0

Buying Life Insurance Online - Is it a Really Good Idea?

The advent of the internet has opened up the possibility of cheaper life insurance for all.

In years gone by, if you were considering life insurance you would probably have invited an insurance salesman from your favorite insurance company to meet you or alternatively gone to your local insurance broker. But rarely would you have been courageous enough to get competitive quotations. It just wasn't done. You trusted the salesman to do the best for you and surely you thought, life insurance is somewhat technical and requires specialized knowledge. All very cozy. All very expensive. How life has changed!

People now realize that life insurance is not that complicated. If on a scale of 1 to 10, buying car insurance online rates 9, life insurance must be a 7 or 8. This has opened up the Internet as a prime arena for cut-price life insurance. That's not to imply that life policies bought on the Internet are in any way substandard. No, you're most likely to end up with a policy from one of the UK 's big insurers like Norwich Union or Legal & General and they'll be exactly the same policies as you could buy anywhere else. It's just that the intense competition on the internet and efficiency and simplicity of the system, means that most online brokers decide to cut the commission and roll back the savings into lower prices.

Ah yes, I hear you saying, 7 or 8 implies that life insurance is more complicated than car insurance. Yes, it is - but that doesn't mean that it represents a problem. The companies selling life insurance online recognize that many clients feel that some level of personal advice is useful and indeed, necessary. They accommodate this with a mix of useful information on the web site and more often than not, with a short telephone conversation with a life insurance adviser prior to you buying. This provides reassurance and helps to ensure you really do get the policy options you need all at rock bottom prices.

Buying online certainly is a good idea.

6:32 PM   by Unknown ·   0

Buying Life Insurance? One Tip to Save You Thousands!

It's simple, always have your Life Insurance policy "Written in Trust". This may sound technical but it is easy to understand and it's so easy to organize.

"Written in Trust" ensures that in the event of a claim, the policy will pay directly to the beneficiaries you name on the policy when you first take it out. If you do not do this, the policy will pay out to your legal estate and this inevitably means that the money stays in your solicitors' hands for some time.

Yes, that implies legal delays and, of course, your solicitor takes a small cut!

Then, if the value of your taxable estate exceeds £275,000, and remember your home can easily account for the lion's share of the £275,000 limit without much difficulty, your estate will have to pay Inheritance Tax. This represents 40% of the estate's taxable value in excess of £275,000. So, if your estate has to pay Inheritance Tax and the proceeds of your life policy go to your estate, the taxman gets his hands on 40% of your life policy!

But it's so easy to avoid all these problems.

Simply get your policy "Written in Trust". Then the life insurance company pays out immediately, directly, and totally tax-free, to the persons you have named on your policy. All you have to do is tell the online brokerage organizing your policy that you want your policy "Written in Trust" and they will automatically sort it out for you.

This advice remains sound even if the Life Insurance policy is designed to pay off your mortgage. Rather than your estate using the insurance payout to pay off your mortgage, the policy can be written in trust and paid to your partner and then he or she can use that money to pay off the mortgage. The benefit? Well, if your taxable estate exceeds the IHT threshold the mortgage is effectively paid off tax-free.

The extra good news is that all the brokers we've met will arrange for your policy to be "Written in Trust" as a free of charge service. So it's a win win situation and there aren't many of those around these days!

6:29 PM   by Unknown ·   0

5 Steps to Cheaper Home Owners Insurance

Knowledge is power
When you are looking to make any major purchase or take out any long term insurance the first thing you should do is arm yourself with all the facts you need and this is by no means any different with your home owners insurance. Work out the value of your home and write up a list of the personal items in your home. This list should include absolutely everything that you would need to replace in the event of it being damaged beyond repair, stolen or broken. This itinerary will not only prove useful for calculating the level of cover you require but also for making a claim should the need arise.

Calculating your cover
Home owners insurance is a little different to other insurance. Car insurance uses the book value of your car, the insurance company being safe in the knowledge that you will be able to replace your car should the unthinkable happen. Going out and buying a house is a little! Different to this. There isn't a set value on a house and you can't just buy the house itself. In order to come up with a value on your home, you need to find out the market value of similar houses in a similar area. In order to reduce the cost of your monthly premium you should seriously consider excluding a small amount of the money because while you need to insure the building and outbuildings you don't to insure the surrounding or housing land.

Shopping around
This is the key aspect to gain cheaper home owners insurance and is a step that has been made much easier with the introduction of the Internet. Comparison sites are regularly available that will allow you to get quotes from a large number of home owners insurance companies. This will give you a much better picture of the type of price you should expect to be paying and will let you decide which policy has the best cover combined with the cheapest price.

Selecting your home owners insurance policy
Once you've got your list of quotes in you should be able to tell pretty quickly which of the offers appears the best. Check it over to make sure it offers exactly what you are looking for and if it does you are onto a winner. If there are a couple of quotes around the same price look them all over to see if any have outstanding extra services that may make you give them slight preference over the others.

Renewal time
You will need to renew your policy or change insurance provider on an annual basis and when this time comes you should check that the policy you are applying for still has everything you need. By doing this you will be able to stay on top of the prices you are paying and the coverage you are receiving.

10:33 PM   by Unknown ·   0

Getting the Best Life Insurance Quote

Your life insurance quote is primarily dependent on a number of personal factors, namely your health, family history, lifestyle and age. It's not possible to physically change any of these factors and you definitely shouldn't lie about any of them when applying for a life insurance quote. However, there are ways you can ensure that you get the best deal out of your life insurance quote. It is important to remember, though, that we aren't talking about the cheapest life insurance quote. This is because the easiest way to get the cheapest life insurance quote is to exclude a number of factors from your policy. This may not give you the coverage you require so you should be aiming to combine the best price with the best coverage for you.

What coverage do I require?
This is a very important question and that you shouldn't answer on the spur of the moment or without careful consideration of your circumstances. By taking out a cheap life insurance policy that offers you very little in the way of coverage you are putting your family and their livelihoods at risk. Of course, nobody can answer the question properly except you. You know, or can work out, how much money your family will need to bury you and to replace your lost income. You know how much money your family needs to live on and how much the mortgage and bills cost. You should carefully consider all of these before deciding how much coverage you really need.

Getting your life insurance quote.
By this point you should have all the information you need regarding the level of coverage and other factors. This information is what your life insurance quote will be based on so you need to double check everything to make sure you are going to get exactly what you want and exactly what your family need. If you aren't the money earned, or one of the money earners in your house and you don't have young children then you only really need to cover the cost of being buried whereas being the care of young children of being the principle wage earner will necessitate a much larger level of coverage and, therefore, a more substantial payout.

When you have the answer to all of these questions, you should shop around as much as possible. Clearly express exactly what you want from your policy and make sure that this is what is being offered. If it isn't, then the life insurance quote you are getting is not for the life insurance policy you need. Always compare your quotes on a like for like basis or you are unlikely to be getting the best deal you can.

10:30 PM   by Unknown ·   0

The Advantages of Term Life Insurance

There are two main types of life insurance that are available to everyone; there is whole life insurance and term life insurance. Many people are unaware even of the existence of term life insurance, which is a shame because term life insurance is usually much cheaper than the whole life insurance equivalent. If you are a shrewd investor then term life insurance could be just the option you are looking for. It can work out thousands of dollars cheaper every year, giving you that extra money to invest yourself. Insurance companies are normally very conservative when investing your money; some people like this while others prefer a more risky but greater return investment opportunity.

Cost
The obvious advantage of taking a term life insurance policy over a whole life insurance policy is the cost. Often a term life insurance policy will cost you hundreds of dollars a year, but a similar whole life insurance policy can cost as much as thousands. In fact, there are some term life insurance policies that will cover you to the value of $100,000 over a ten year term that cost less than ten dollars a month. Obviously, similar factors are taking into consideration when applying for term life insurance as they are when applying for whole life insurance; factors such as health, family history, lifestyle and age.

Flexibility
Term life insurance offers you a greater level of flexibility over, it's whole life insurance counterpart. For less money you are able to take out short 10, 20 or 30 year plans and you are able to determine the exact level of cover that this offers. You may have a 4-year-old son and a partner who has opted to stay at home and look after him. Right now he is dependent on your earning money to feed, clothe and care for him, but in twenty years he will have finished school, finished college and hopefully got himself a job. This means he is no longer your dependent and you may not need to make financial allowances for him in your life insurance. Alternatively, your mortgage may expire in ten years. You won't need to pay to cover your mortgage once it has been fully paid up.

Investment
A term life insurance policy costs you hundreds, even thousands, of dollars a year less than a whole life insurance policy. This means that you can invest your money yourself instead of relying on the insurance company to do so. Insurers are typically very conservative when investing your money, so by taking a term life insurance policy you are able to be a little less strict over the type of investment you choose affording you a greater potential to make more money.

10:28 PM   by Unknown ·   0

Car Insurance - How can you lower your premiums?

Many factors influence the premium for your Motor insurance policy. Your insurer will have asked you many questions whilst producing your quote - some of which will affect your premium and some will not. Below we discuss the key variables that are within the policyholder's control.

Consolidating policies
By insuring a number of vehicles with the same insurer, or by trying to take out home and life insurance through your car insurer, you may be able to secure a 'bulk buy' discount.

Location
A big influence on the cost of your car insurance is where you live. The chance of your car being broken into or stolen is a key concern for the insurer. More urban areas traditionally facing greater risk of theft and therefore tend to be more expensive than countryside locations.

Excess
By agreeing to pay a greater excess on each claim you can reduce your car insurance premiums. This is because you are reducing the liability of the insurer and therefore in return they are able to offer you a lower premium.

Your Vehicle
The cheaper and slower your vehicle the lower your premiums are likely to be. If you are looking to buy a new vehicle, make sure you fully consider the cost of insurance - you may be able to buy the car but can you afford to run it?

Mileage
You can control your insurance premiums by restricting your annual mileage. However, be aware that if you exceed the restricted number of miles you'll then become uninsured!

Parking
Where you park your vehicle overnight is also very important to the insurers. If it is kept in a locked garage, you should be offered a lower premium than if you leave it unattended in the street.

Security
Security devices that prevent or hinder theft may also reduce your premium. Common examples include alarms and immobilisers, however, be aware that as we improve the quality of our security devices the thieves just become better at bypassing them.

No Claims Discount
Save up your no claims discount by avoiding making small claims upon your policy. After a set number of years, 4 or 5 typically, you'll often be offered the option to pay an additional small premium to protect your no claims bonus. This can prove very helpful if you subsequently end up having an accident.

Advanced driving skills
By taking an advanced driving course you may also be able to reduce your premiums. The Institute for Advanced Motorists and the Royal Society for Prevention of Accidents each offer membership which provides you with discounts for both the cost of driving courses and your car insurance premiums.

Two key variables NOT within the policyholder's control.

Your Sex
Women are statistically less likely to have an accident and, if they do, it's less likely to be serious. Because of these statistics women benefit from lower premiums. It is also worth noting that if you represent one half of a couple you should consider having the female as the primary driver with the male as the second driver.

Your Age
The older you are, the less likely you are to make a claim. As a result insurance companies charge lower premiums for more mature drivers.

One final piece of advice.
A large percentage of car insurance is now sold on the Internet. That's because it's convenient and cheap. Many insurers now give a further 10%-15% discount if you buy online.

10:25 PM   by Unknown ·   0

Life Insurance and Life Assurance are not the same!

The average man in the street assumes that Life Insurance and Life Assurance are names for the same form of insurance. How wrong they are! But don't hang your head in shame, many financial commentators get it wrong too! Life Insurance and Life Assurance perform different financial roles and are poles apart in cost - so it helps to surf for the correct product.

Life Insurance provides you with insurance cover for a specific period of time (known as the policy's "term"). Then, if you were to die whilst the policy is in force, the insurance company pays out a tax-free sum. If you survive to the end of the term, the policy is finished and has no residual value whatsoever. It only has a value if there is a claim - in that context, it's just like your car insurance!

Life Assurance is different. It is a hybrid mix of investment and insurance. A Life Assurance policy pays out a sum equal to the higher of either a guaranteed minimum underwritten by the policy's insurance provisions or its investment value. The value of the investment element is then a reliant on the Insurance Company's investment performance and length of time you have been paying the premiums.

Each year the insurance company adds an annual bonus to the guaranteed value of your life assurance policy and there is normally an extra "terminal bonus" at the end. Therefore, as the years go by your life assurance policy increases in value as the investment bonuses accumulate. The value of these bonuses is then determined by the insurance company's investment performance. Once investment value has been assigned to the policy, you can cash it in with the insurance company. However, most people get a far better price for their life assurance policy by selling it to a specialist investment broker rather than cashing it in with the insurance company.

If you were to die during a Life Assurance policy's term, the policy pays out the higher of either the guaranteed minimum sum or the accumulated value of the annual investment bonuses. However, if you are still living when the policy terminates, you usually get a bigger payout. This is because with most insurance companies, an additional terminal bonus is awarded.

There is a also a specialized form of life assurance called "Whole of Life". These policies remain in force for as long as you live and as such, have no preset term.

There is also a practical difference for the internet user. Whereas you can buy life insurance online, the Financial Services Authority view life assurance as fundamentally an investment product. As such, they believe it is best suited to being sold by a Financial Adviser with advice based on the Advisors full understanding of your personal details. Therefore, you will be unable to buy life assurance online. However, you can use the internet to find a suitable financial adviser with whom you can meet and discuss your requirements.

What are Life Insurance policies and Life Assurance policies used for?

Life Insurance is usually a focal point of the family's financial protection. It is ideally suited to ensure that known debts such as a mortgage, are repaid in full in the event of the policyholder's death.

When it comes to providing a lump sum for general use in the event that the policyholder were to die whilst the policy was in force, either life insurance or life assurance can be used. The differences are that with life insurance the size of payout would be preset whereas with life assurance it would depend on the guaranteed minimum and the insurance company's investment performance. But remember, at the end of the policy's term life insurance is worthless, whereas life assurance should payout a sizeable investment sum. In this context Life Assurance seems far more worthwhile but in practice more people elect for life insurance. Why? It's a matter of cost. Life Insurance is considerably cheaper than Life Assurance. Furthermore, in recent years, investment returns on Life Assurance policies have fallen significantly and many insurance companies have placed penalties for cashing in policies early. This has adversely affected the resale value of Life Assurance policies.

Finally, if you want a product to provide a lump sum on your death whenever that is with a minimum payout guaranteed, you'll probably elect for Whole of Life insurance. It's really a form of lifetime investment with the benefit of a guaranteed minimum. They're particularly useful for Inheritance Tax Planning.

10:23 PM   by Unknown ·   0

Machiavelli The Prince Chapter 1

How many kinds of principalities there are, and in what manner they are acquired

All state and governments that have had, and have at present, dominion over men, have been and either republics or principalities.
   The principalities are either hereditary or they are news. Hereditary principalities are those where the government has been for a long time in the family of the prince. News principalities are either entirely new, as was Milan to Francesco Sforza, or they are like appurtenances annexed to the hereditary state of the prince who acquires the, as kingdom of Naples is to that of Spain.
   States thus acquired have been accustomed either to live under a prince, or to exist as free states; and they are acquired either by the arms of others, or by the conqueror's own, or by fortune or valour.

10:01 PM   by Unknown ·   0

Life Insurance and the Law. A layman's introduction.

There are no laws in the UK that require a person to have life insurance. It's an entirely voluntary insurance. About 40% of the UK's working population are covered by life insurance either through their own policy or via an arrangement through their employer.

So the simple things first. You have to be a UK resident in order to buy a life insurance policy from a UK based insurance company. This is not a requirement laid down in UK law, but UK laws and tax arrangements make it impossible for a UK based insurance company to offer insurance to anyone other than a UK resident. But be aware that if, having taken out life insurance, you later live abroad, your policy will be invalidated. Naturally, invalidation does not apply if you are on holiday but if you have a short-term work assignment abroad, you are well advised to inform your insurance company before you go.

All UK Insurance Companies are subject to UK Corporate Laws. However, there are special regulations that only apply to insurance companies. These control the value of the risks the companies take on in relation to their financial reserves. These regulations are designed to ensure that your insurance company will be in a position to pay if you claim.

The Data Protection Act 1998 is concerned with the way all UK businesses store, safeguard and use the data they collect about people. This is particularly important within the life insurance industry as the companies store significant amounts of very personal information about you - including your age, health record and life style. One of the key provisions of the Data Protection Act says that if a business wishes to pass on your information for marketing purposes, the business collecting the data must tell you of its intention and give you the opportunity of refusing permission for your data be used in that way. Incidentally, all reputable web sites selling life insurance will have a "Privacy Statement" which tells you how they handle your information and how it is used.

The Financial Services and Markets Act (2000) are the most important piece of legislation affecting the promotion of financial services in the UK including life insurance. The Act is highly complex, but is primarily concerned with protecting you the customer. The implementations of the Act are overseen by the Financial Services Authority (FAS). The FAS regulates all forms of the promotion of financial products and services including the activities of financial and mortgage advisors in the UK. Their aim is to ensure you receive clear professional advice that reflects your personal circumstances. They also ensure you have a route to compensation should it be proved that you received inadequate or poor advice.

For the layman, the FSA's biggest impact is reflected in the advisors they talk to. The FAS seeks to ensure that all financial advisors are trustworthy and competent which includes being well supervised and well trained, and that any advice is given in your best interests. The FAS also ensures that you are given full and accurate information about the products you are being advised to buy both before and after you have bought them. They also closely oversee the organizations that actually create the financial products.

In fact, everyone and every organization giving financial advice in the UK must be authorized by the Financial Services Authority.

However, the Act makes a distinction between financial products bought as a result of a recommendation from a Financial Adviser and "Execution Only" business. Execution Only is where a customer is wholly responsible for the selection of the investment and therefore the financial adviser's sole responsibility is to process the purchase efficiently. Under Execution Only, the Adviser bears no responsibility for the products suitability for the clients needs.

You should be aware that many of the web sites promoting life insurance operate on this Execution Only basis. However, most web site operators provide extensive information to enable the client to make an informed choice. Sometimes the information is published on the web site and sometimes provided during a follow-up telephone call. Either way, within their Terms of Business the web site will have to tell you on what basis they provide financial services and as part of your application, you will normally be required to confirm that you have read these Terms.

These Terms of Business will always include details of a complaints procedure. In outline, if a customer wishes to complain, then the customer must detail the complaint in writing and send it to the Compliance Officer for the business employing the advisor. That business then has to investigate the complaint and reply to the customer in writing. If the Compliance Officer upholds the complaint, and the customer has suffered a financial loss as a result, then the business must agree a financial settlement with the customer. Ultimately, if the customer has suffered financial loss and cannot accept either the organization conclusions or their proposed financial settlement, then the situation can be referred to the Financial Ombudsman. The Financial Ombudsman's service is free to the customer and they are wholly independent. The Financial Ombudsman's decision is usually binding on both parties.

The other central piece of protection for the customer is the Financial Services Compensation Scheme. This provides the customer with a level of protection if a financial organization regulated by the FAS becomes insolvent and cannot properly meet its financial responsibilities to its clients.

8:45 PM   by Unknown ·   0

Get Moving Insurance before Moving

There are different kinds of Insurance that pertain to moving:

• Released Value Insurance, the most basic coverage provided by moving companies. Estimated by weight it covers US$0.60 per pound of objects.
• Declared Value Insurance offers coverage of US $ 1.25 per pound, coverage is on the total weight of your movables. If any objects are damaged, the insurance is based on the depreciated value of the object to the maximum value of items shipped.
• Lump Sum Value, this insures based on the actual value of goods shipped and not by weight. The specific value of items must be declared on the bill of landing.
• Full Value Protection, covers all damage or losses. Objects will be replaced, repaired, or cash for value of object will be offered.

Tips:

• Decide which objects are to be moved and which are to be stored.
• Prepare a detailed list of objects to be moved along with weight and value.
• It is advisable to take insurance over and above that offered by the movers.
• Ask for advice on which insurance would benefit you the most.
• Get estimates from insurers.
• Remember a customer has to file a complaint within nine months of the move.
• A mover is legally obliged to acknowledge a claim within 30 days and offer settlement within 120 days.
• Even if there is damage a customer is obligated by law to pay for the move. After which the customer should address the claim procedure to receive compensation.
• Ask the mover to explain clearly the insurance cover offered by them, the exclusions, and limits.
• Always read carefully the small print on the mover's contract and insurance papers.
• List antiques and valuables separately and take extra coverage for them. Extra premium is generally charged for fine china, paintings, and so on.
• If any goods are damaged, never unpack/remove them from their boxes until all procedures for claims are completed.

Check whether your homeowners insurance covers moving. Purchase an insurance that best covers the value of the property being transported.

Find out what can be insured. Normally, jewelery, cash, as well as items not packed by movers are not covered. Goods like fuels, fertilizers, acids, ammunitions, paints, aerosol cans, corrosives, as well as flammable substances will invalidate insurance and should not be moved. 

It is important to know the laws of the state or country where you live and the place you are moving to. 

Experts recommend transit insurance as a good supplement to moving insurance. It will generally cover the gaps left by the insurance policy. 

Clever coverage can save hundreds of thousands of dollars and insurance is available on the net, through the mover, a move-it-yourself company, or homeowner's insurance companies.

8:23 PM   by Unknown ·   0

Keyman Insurance - Protect Yourself Against Your Biggest Businesses Risks

As a business man you might have public liability insurance and you insure your buildings, stock and vehicles. You may even have professional indemnity insurance and legal cost insurance. Is that all? What about your other primary assets - your key staff? 

Key staff represent the heart of every businesses but no more so than the UK's 3.9 million small, often family, businesses that have up to 4 employees. Prolonged absence through serious illness or even death can be terminal for some of these enterprises. The risks are the same for limited companies, a partnerships and sole traders. 

In this context Key man Insurance is a must. Key man Insurance represents a group of insurance plans all designed to financially protect business from the affects of prolonged illness or even death of staff who are central to the prosperity of the business. The insurance can't replace people but it can provide cash to buy time and cover the costs of temporary staff, recruitment, loss of profits or provide a cash injection. 

The insurance falls into four categories - insurance to help your business recover during the extended period when your key personnel are unable to work or to train or recruit a replacement, insurance to protect profits, insurance to protect shareholders or partnership interests, and insurance for anyone involved in guaranteeing businesses loans or banking facilities. 

Key man Insurance on those who are central to your business.
Who are your key people? They are the ones who steer, create and drive your business. The people without whom your business would lose sales and profits or without whom even the basic viability of your business would be shaken. Look at the Directors, Partners, owners and beyond. Consider the roles of senior managers in sales, technical development and operations - the roles will change in every business but the candidates are sure to jump out at you. 

Insuring these people will provide the extra cash needed to take on temporary staff or recruit and train a replacement. 

Key man Insurance to protect your Profits.
The effect of losing key staff goes well beyond simply the cost of their salaries and the cost of replacement. As they're central to the businesses prosperity, their loss will knock on to the bottom line. You can insure for loss of profits too! 

Key man Insurance to protect Shareholders or Partners.
Here we are talking about insurance to protect interests in the event of long-term illness or death. Families may want to sell their stake in the business but the remaining members in the business may not want those stakes held by newcomers. Key man insurance schemes can be implemented which provide the necessary finance to buy the shares from the original shareholders or their estate. 

Key man Insurance insuring those who provide personal guarantees.
When a business takes out a loan or raises bank finance the lender is quite likely to require a personal guarantee or a charge on their personal property. This especially applies to small and new businesses. So what happens if these guarantors become seriously ill or die? The lenders may well be in a position to call in the loan. What happens then? Again, Key man Insurance is the answer. Insurance can be structured to pay-off the loan and thus free the business and the guarantor's family, from major worry. 

Most of the UK's leading insurance companies offer Key man Insurance as a development of their Life and Critical Illness Insurance interests. They have all the necessary paperwork available to implement the cover you need and ensure the tax man is kept at bay. 

So, can your business afford to ignore Key man Insurance? You'll be either a brave or foolish man to say NO!

8:21 PM   by Unknown ·   0

Memo to Myself - I Need Keyman Insurance

Last month I had to drive down to London. I don't like driving at the best of times but the rain, spray and heavy traffic on the M 1 made conditions difficult. Radio 2 kept me company and the heater kept me warm. Then I hit that queue - six miles solid and I was soon an hour behind schedule.

They were still clearing up the accident when I got there. It was nasty. A lorry and what was left of two cars. Made me think, after all that could have been me. Yep, my life insurance is up to date and my Will was renewed only last month. The family would be well cared for and the mortgage repaid. Had I missed anything?

The business. What would happen to that? We have two directors, 7 employees, an overdraft and lots of insurance. Public Liability, professional indemnity, vehicles and stock are all insured. We even have legal protection insurance. Had I missed anything? I got to thinking.

Thank goodness it wasn't George in that accident. A great guy and he's been with us five years. He's our top salesman. There again what if it had been my co-director who also owns 50% of the business? What would be the repercussions on the business?

Sales down, profits down, bank phoning all too politely to ask about the Directors guarantee on the overdraft. Then I'd have to try and buy his shares. I wouldn't want someone else to get hold of those. At some stage I'd have to recruit someone of his caliber to continue the company going forward - that wouldn't be easy! And recruiting top people doesn't come cheap. That's more time and more money. The personal problems... the repercussions... the extra work... the extra stress...

Oh heck, I don't want to think about it all. Quickly, switch over to Radio 1.

Does all this ring alarm bells with you? 95.2% of UK businesses employ less than 10 people and these are precisely the organizations most at risk from the impact of severe illness or death of a key person. The risks of a key person being stuck down with a long term illness or death are real. 1 in 5 men suffer a critical illness before their normal retirement age. Then there's the M 1. The fact that it hasn't happened so far might just mean your business has just been lucky.

Now to those actuarial coffins in insurance companies, risk and luck are flip sides of the same coin. And they can provide insurance cover for most risks. After all they too want to increase sales. But they're scratching their heads about Key man Insurance. Most of Britain's 4.1 million small businesses should have it but few do. What can it do? It can be structured to:

• Provide an income stream to the company whilst the key person is incapacitated (compensation for the lost contribution from the Key man)
• Provide a lump sum to the business in the event of death (pay off the overdraft or simply bolster cash flow?)
• Provide money for remaining shareholders to buy the shares from the original shareholder or their estate

You'll need to talk to a Financial Adviser about these issues but they are all insurable. Can your business afford to take a risk it doesn't need to? 

Memo to myself - get Key man Insurance!

8:18 PM   by Unknown ·   0

Calling All Smokers. A Dream Ticket for Two to Paradise Island

Sorry to remind all you died in the wool smokers but November was Lung Cancer Awareness month. But no don't click away - spare a few moments of your time, please... 

If hard words on packets wash over you, let me put the financial case to you for quitting. As well as feeling healthier I can offer you a holiday for two on Paradise Island in the Maldives, for two, for every year of your longer life! 

OK, I know you don't believe me. Let's explain. 

Say the average smoker is 40 and smokes 20 a day. With cigarettes at £5 a packet that's £1,800 a year. Then you'll save loads on the cost of your your life, critical illness and medical insurance. Just how much was highlighted in a recent snapshot study by www.express-life-insurance.co.uk. This found that the average smoker paid 56% more for life insurance than a non-smoker. Therefore, giving up could easily save you £50 per month on your various insurance premiums. 

So as a non-smoker you could be £2,400 per year better off. Wearing a financial hat I can show you that if a 40 year old man put those savings into a personal pension plan with NFU, then at 5% per annum growth, he'll have a healthy retirement fund of £97,860. On retirement that could give an in the pocket tax-free sum of £24,465, plus an annual lifetime income of £3,830 (or £5,100 per year if the tax-free cash was left in the pension). 

On the other hand let's have more fun! 

For £2,400 you can have a 5 star 10 day holiday for two on Paradise Island in the Maldives. Give up smoking forever and you could afford to go back to Paradise Island every year! 

QED - makes you think doesn't it?

8:06 PM   by Unknown ·   0

Life Insurance - Smokers and Overweights Pay Over 50% More!

The life insurance industry is becoming tougher on smokers and those of us who are overweight.

When an insurance company calculates its premiums, it has to work out the risk of you dying whilst the policy is in force. (Or with Critical Illness Insurance, the risk that you will become critically or seriously ill during the policy's term.) In this context, smoking and obesity have become increasingly important issues.

The life insurance industry pointedly ignores the views of some Pro Smoking Pressure Groups which argue that smokers under the age of 40 have around the same probability of dieing as non smokers. David Pickett, Life Insurance Manager at Sainsbury's spoke for the insurance industry when he confirmed "Health risks associated with smoking can have a big effect on life cover costs. It is vital for those who have kicked the habit to review their policies".

Just how big an effect smoking has on life insurance costs was highlighted in a recent snapshot study by www.express-life-insurance.co.uk. This found that the average smoker paid 56% more than a non-smoker. The study was based on nine of the UK's top insurance companies and examined the premiums quoted for two men aged 30 asking for £100,000 cover over 25 years. The only difference between the application details was that one was a smoker and the other wasn't.

The life insurance industry has also recently tightened its belt on the overweight members of society. Previously, only people with a Body Mass Index of 33 or more were considered as overweight. This level has now been reduced by 16%. Now anyone with a BMI of 28 or more is likely to face premiums loaded by 50%. If you're anxious to know whether that includes you, you'll need a calculator! BMI is calculated by dividing your weight in kilos by your height in meters and the result squared.

So if you're intending to apply for life insurance is may be as well to loose a few pounds first - oops kilos - and they're much harder to lose than pounds!

It's not quite so straightforward for smokers. To qualify as a non-smoker, most insurance companies insist that you must not have "smoked or otherwise consumed any form of nicotine products during the previous 12 months." Indeed, some companies go further and extend the qualifying period to 5 years!

Because premiums for smokers and chubbies are so high, it becomes even more important to seek out the cheapest possible prices. As you're an internet surfer, the odds are you'll land a good discount. Just search for cheap life insurance and let your fingers do the walking!! You'll still pay more but the discount will soften the impact on the wallet. Expect online savings of 10% - 15%.

7:22 AM   by Unknown ·   0

Travel Insurance - Few Bargains for the Over 65's

At last you've retired. It's now time to relax and experience a slower pace of life. Even enjoy spot of gardening. But not all of today's modern over 65's have heard the message! Retirement is taking a new twist. 

Less of the slower pace of life and substitute jetting around the world! International travel for the retired is here and booming! 

It's all the result of a increased sense of adventure and willingness to experiment, combined with more money in the pocket. Cheaper air tickets have also helped! Even cruises, once the territory of the seriously rich and famous, have become affordable. An escape to Antigua and a fortnight in the Canaries or a weekend in Stockholm are now firmly on the over 65's travelling schedule. 

Then a fly sticks in the ointment. Finding economical travel insurance when you're over 65 is not easy. Insurance companies recognise that people have healthier lives and are living longer, and in recognition the insurers are offering far more products for the older market. But with travel insurance, the over 65's are still faced with exorbitant premiums. 

Premiums rocket as you get older and if you're looking for an annual policy for an extended holiday or a series of holidays, the problem becomes finding a policy at all rather than simply finding the cheapest price. 

The dilemma revolves around the costs of medical claims experienced by the insurers. Over 65's are much more liable to make a medical claim and the claim size is well above average too. Against this, older travellers reportedly lose less luggage - but these savings are counter-balanced by the fact their belongings are liable to be worth more. 

The result is that even if you are fit, the lowest priced annual policy for the over 65's could cost £1,000 per person - that could be more than the cost of the holiday itself. Faced with these charges, the solution is to buy a separate policy for each trip. But even with a good medical history, the cost of insuring a 3-week holiday in the South of France starts around £65, and rises enormously for destinations in America and further a-field. 

What's the solution? You're recommended to shop around. Your travel agent may offer a quotation but don't snap his hand off until you've got competitive prices. You'll almost certainly find a much cheaper alternative through surfing the Internet and buying online. 

But don't make your final decision simply on the basis of cost. Always examine the small print. Some travel policies will insure you for up to 21 days, others up to 31 days or 45 days. Some policies will only cover you if you're staying in booked accommodation rather than staying with friends or relatives. No good for visiting family in New South Wales! Then you need to ensure that you've got adequate cover for medical and hospital expenses and don't spare the horses - think of a high figure and triple it! You'll be amazed how expensive quality medical attention can be whilst you're abroad. Incidentally, it's important that your insurer will fly you home to the UK if your medical condition demands. And don't overlook comparing the excesses you have to pay per claim. Finally, check that the policy pays medical costs direct to the hospital rather than you paying first and having to reclaim. 

And now comes the really good bit - jet off and ENJOY yourself!

7:21 AM   by Unknown ·   0