reflect47 asked:


I live in Michigan a state where it is law to have insurance. I have also been denied insurance by a certain large insurance company based on my credit score. I just don’t think they should be able to pull your credit report if your required by state law to carry it. Hey if i don’t pay it cancel me.
Agreed your driving record should be all they need. I have been driving now for 13 years never been in a accident but been though a divorce which messed up my credit.
wooooowhooo….. the reason the guy with the 700 + credit score is likely to have a better track record with the insurance company is because he doesnt report it he pays for damages from his little plastic insurance policy called AMEX…. again never been in a accident got one ticket 7 years ago been though a divorce….. why do I get denied when I’m a proven good driver all because some one else isn’t. shouldnt they pay more and i get charged the same as the guy next door with the same driving record and a better credit score!
besides I would love to see where these so called statistics are coming from I think its all crap!

David

Emeka Ezidiegwu asked:


The types of life insurance that are available can make selection difficult. With all of the different types of life insurance it is important to understand the benefits of each type before taking out a policy. When choosing what type of life insurance would be best for you and your family it’s important to understand how each type works.

Term Life Insurance: Term, or temporary, insurance is one type of life insurance. Term insurance covers the policy holder for a specified number of years, for a predetermined premium. This means that the policy holder knows how much their life insurance will cost, for the entire term of the insurance policy. Term insurance, unlike other types of life insurance, does not build any cash value. Also, most term life insurance provides death benefits only.

Whole Life Insurance: Whole life insurance is another of the different types of life insurance. It is considered permanent insurance. Permanent insurance is considered to remain in force until one of two things happens, the policy holder dies, and the insurance is paid, or the policy holder cancels the policy, either intentionally or by failing to pay the premium. The only way that the insurance company can cancel the policy is if they have evidence that the policy holder committed fraud when completing the application. Whole life coverage, like all permanent types of life insurance — builds cash value as you pay your premiums. This accumulated value can be accessed by withdrawing the money, borrowing against it, or surrendering it to the insurance company and receiving the surrender fee.

Different types of life insurance have different advantages and disadvantages: Whole life coverage offers a guaranteed dollar amount upon the death of the policy holder, a known cash value, predictable premiums, and the knowledge that the insurance company cannot cancel the policy as long as premiums are paid.

Term life insurance provides affordable coverage for many people. There are different types of life insurance available that offer term coverage. Annual renewable term coverage guarantees that the insurance company will renew the insurance policy each year, although the premium amount may change. Another specialized type of life insurance that is considered term insurance is mortgage insurance. The face value of mortgage insurance decreases each year. The purpose of mortgage insurance is to cover the cost of the household mortgage until it is paid off, if the main breadwinner dies.

While the different types of life insurance can seem confusing, there are a few basics that can make it easier to compare policies. If you are considering term life insurance, know the amount that the policy will pay off at death, the length of the coverage and the cost of the premium. If you are considering whole life insurance, know the cash value of the insurance and the return you can expect on the premium. In some cases, it makes sense to purchase a less expensive term policy and place the difference in a higher yielding investment, while for other people whole life insurance is the safer investment.

 



Heather

kiki asked:


I am planning to sell my car and cancel my auto insurance. If I want to rent a car, am I required to buy their rental car insurance, since I wouldn’t have any other auto insurance otherwise?
If I use my Discover card to rent the car, Discover will provide me with a Collision Damage Waiver of up to $25,000. Would that count as insurance?

Franklin