4 Frequently Asked Auto Insurance Questions

Natural disasters, terrorist attacks and plane crashes are all over the news, but for the majority of people, the chance of being directly affected by those tragedies is relatively low. On the other hand, most people are exposed to a more common risk every day: being in a car accident. Here are some of the most frequently asked questions about auto insurance.

There are some ways to ensure that a company

There are some ways to ensure that a company is not able to terminate an employee without properly following certain steps, and most of these are due to wrongful termination laws for the country. It is through a wrong reason in firing a worker at a company that the employer or management may find serious complications or litigation.

The most important at-will termination protections in place are those that violate certain safeties to civil rights, wrongful terminations and violations of labor laws that the company may engage in when the person works there. The employer does not have the ability to discriminate based on the civil rights granted to each citizen in the United States. When any violation of federal laws does occur, the company may face litigation of a harmful nature to the reputation of the business and that could cost the company thousands or more depending on how many individuals suffer injury.

Mesothelioma Law Firm

Mesothelioma Law Firm

For decades, mesothelioma, a life-threatening disease that can affect the lungs, abdomen, and several other major organs, has been linked to prolonged exposure to asbestos, resulting in many people seeking a mesothelioma law firm to get justice and help them cover the overwhelming expenses associated with the disease.


Typically, mesothelioma victims were exposed to asbestos while working at a job site that used asbestos-containing materials (ACMs). In many cases, the manufacturers of asbestos and ACMs knew of the hidden dangers and risks of asbestos, yet failed to inform the public, as asbestos was an extremely profitable mineral. Because of the hindrance of information, workers who developed health issues from asbestos exposure may be eligible for financial compensation to cover expenses such as lost wages, medical bills, emotional suffering, physical pain, and more.

The New Jersey Supreme Court has made changes in employment law that redefine

The New Jersey Supreme Court has made changes in employment law that redefine part C of the ABC Independent Contractor test.

They claim that part C does not require an individual to operate an independent business, engaged in the same services that are provided by the employer, to be considered an independent contractor.



What Is the ABC Independent Contractor Test?

The ABC Independent Contractor test is used to determine if a worker is an official employee of a company. The test presumes that a worker
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is an employee unless the employer can demonstrate three factors that suggest they are an independent contractor. The factors are:

A – An individual has been and will continue to be, free from control or direction over the performance of services, both under his contract of service and in fact

B – The service is either outside of the usual course of business for which it is normally performed, or is preformed outside of all places of business for which the service is normally performed

C – The individual is engaged in an independently established trade, occupation, profession, or business

The Case and Ruling

The case in question was between Garden State Fireworks, Inc. and the New Jersey Department of Labor and Workforce Development, and touched on topics of employment contracts and wrongful termination. The appellate panel discussed whether pyrotechnicians hired by the firework company to conduct firework displays were properly classified as independent contractors rather than employees under the New Jersey Unemployment Compensation Law.

Although employees at the firework company were initially deemed to be misclassified as independent contractors, the pyrotechnicians in question were given complete control over firework displays preformed offsite and outside of all places of business. Furthermore, the work was so infrequent that hired technicians were either full-time employees in other endeavors, or retired workers searching for seasonal work. As all qualifications of the ABC Independent Contractor test were met, the ruling was in favor of Garden State Fireworks, Inc.

Redefining Part C

Despite the favorable outcome for the fireworks company, the case put part C of the ABC Independent Contractor test into question. In reviewing previous cases, the New Jersey Supreme Court decided that the terms of part C should be defined on a case by case basis. Furthermore, the final clause of the independent contractor test varies by state, bringing more factors into play where independent contractors are concerned.

Ultimately, the use of the ABC Independent Contractor test is a fact-sensitive inquiry. Employers who hire employees as independent contractors that fail the test may be liable for unemployment compensation and disability benefits. In addition, an employer’s failure to satisfy the test with respect to its independent contractors can result in liability for unpaid wages and overtime.

ABOUT THE AUTHOR: Sidney Gold
Mr. Gold is the principal shareholder of the Pennsylvania & New Jersey employment law firm of Sidney L. Gold & Associates, P.C. in Philadelphia, which is a preeminent law firm in the field of employment law and civil rights litigation. His practice, as well as that of the law firm, is concentrated in the representation of both employees and employers in all aspects of employment-related litigation in Pennsylvania and New Jersey, including claims under federal and state anti-discrimination laws and federal civil rights laws

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Disclaimer: While every effort has been made to ensure the accuracy of this publication, it is not intended to provide legal advice as individual situations will differ and should be discussed with an expert and/or lawyer. For specific technical or legal advice on the information provided and related topics, please contact the author.

ZERO DEPRECIATION ON CAR INSURNACE

ZERO DEPRECIATION ON CAR INSURNACE

Friends,

I have seen many of my clients trying to save a few rupees when taking Car insurance.

They feel that since they have taken Comprehensive Car Insurance, everything is covered.

How wrong they are?

Comprehensive is a "misleading" word.

Yes. It does not cover DEPRECIATION!

HDFC ERGO explains ZERO DEPRECIATION COVER as...

ZERO DEPRECIATION CLAIM

The policy pays the full claim without any deduction for depreciation (excludes Tyres and Batteries) applicable on the own damage section. However, depreciation for parts excluded under India Motor Tariff is payable. 

Key Benefits

	Minimum “Out of Pocket Expenses”
	No Concern about categorization of parts

ZERO DEPRECIATION COVER  gives your CAR with  100% coverage for all parts irrespective of material, whether rubber, plastic or metal. This plays an important role when you replace bumpers, broken headlamps, Airbags, and any other plastic parts, etc.

Please watch this video

 http://youtu.be/TMLSEoJtayw

So, friends you are requested to take a ZERO DEPRECIATION CAR INSURANCE COVER whenever you are taking a Car Insurance policy.

Do contact your Insurance Advisor for more details.

And how much you are covered.

 A princely Rs.10 Lakhs. So, your family will get between Rs.10 Lakhs to Rs.25 Lakhs as Insurance in case of your death. 

Now, since you are 26 years, for the same Rs.10 Lakhs, if you take a PURE TERM PLAN, your premium would be only Rs.3010 in LIC (in Kotak it is far far lesser at Rs.1971 only). Even if you take the Term Plan in LIC, you are covered for Rs.10 Lakhs and saving Rs.33000 per annum. 

If the saved amount of Rs.33000 is invested in PPF/Long Term Bank FD your corpus would be Rs.25 Lakhs. 

If you invest the same Rs.33000 in Mutual Funds through SIPs, even assuming a very very conservative return of only 12% , you would still have a  huge kitty of Rs.46,81,000 and at a reasonable return of 15%, you would have a corpus of Rs.75 Lakhs. 

And, also this investment would be liquid and you can use at anytime you want. 

So, now, I think you are feeling Rs.25 Lakhs is meagre. 

Insurance is an expense, not an investment. Do NOT use Insurance as an avenue for investment - you are in the wrong lane. Treat it that way. Life insurance is there to protect your family from financial hardship in case you your no more.

Insurance companies and its agents are doing well mainly because of the ignorance of the policy buyers and policy holders. No wonder so many foreign companies want to enter India.  Avoid pension plans & endowment plans from insurance companies. An insurance policy will not create wealth.

LIC and its agents have brainwashed the Indian public for years that "you should get something back when you buy insurance". 

Taking a basic Term Insurance is the BEST Insurance. 

The day you understand IMPORTANCE OF TERM INSURANCE - you will be on the road to financial stability.

For pension - the trick is to create as big a corpus as possible before retirement. Once you have created a corpus, you can create pension anytime immediately by investing in immediate annuity.

It is a MYTH that only insurance companies can create pension.

It will be better if you start investing in diversified equity funds via SIP to create wealth. PPF can also play a small part initially and a greater part in the later years.

You can also Get free Life Insurance cover(No Mortality & Admin.

Charges) by investing in Mutual Funds of BIRLA,Reliance, BOI Axa & Kotak.

Birla Century Sip gives you a cover which will be equivalent to your market value of the units you have or 100 times your monthly sip whichever is less.

Under the Century SIP option, if the investor makes monthly SIP instalments, the insurance cover for the first year will be 10 times the SIP amount and in the second year it will go up to 50 times and 100 times from third year onwards, subject to a minimum SIP instalment of Rs 1000 and maximum cover of Rs 20 lakh per investor.   Among the Birla Funds you can consider Birla Sunlife Frontline Equity Fund, Birla sunlife Dividend Yield Fund and Birla Sunlife Equity Fund.

You can read in details here......http://goodfundsadvisor.blogspot.in/2011/09/normal-0-false-false-false.html

BOI Axa also offers Insurance similar to terms Birla is offering. 

Kotak Mutual Fund also offers Life Insurance Cover wherein in case of death of Parent, the fund will invest the Balance Sips in the name of the Child. Among Kotak Funds you can consider KOTAK K50 FUND.

Reliance Mutual Funds is also offering Free Life Insurance Cover through SIP Insure.

In Reliance SIP Insure, Reliance will pay the unpaid instalments of the future SIPs in the event of the death of the investor during the sip tenure.

Among Reliance Funds, you can consider RELIANCE GROWTH FUND AND RELIANCE EQUITY OPPORTUNITIES FUND.

In Birla, the Insurance Coverage will gradually Increase^^^^^^^^^

but in Reliance and Kotak, the Insurance Coverage will gradually decrease.

Ideally, one can take a sip in 1 Birla and 1 Reliance/Kotak, this way your Insurance Coverage will be more or less the same throughout.

Top 5 insurance for you

1. Long-Term Disability Insurance

The prospect of long-term disability is so frightening some people simply choose to ignore it. While we all hope that "nothing will happen to me," relying on hope to protect your future earning power is simply not a good idea. Instead, choose a disability policy that provides enough coverage to enable you to enjoy your current lifestyle even if you can no longer continue working.

Life Insurance
Life insurance protects the people that are financially dependent on you. If your parents, spouse, children or other loved ones would face financial hardship if you died, life insurance should be high on your list of required insurance policies. Think about how much you earn each year (and the number of years you plan to remain employed), and purchase a policy to replace that income in the event of your untimely demise. Factor in the cost of burial too, as the unexpected cost is a burden for many families. (For related reading, see: Life Insurance: Putting a Price on Peace of Mind.)

Health Insurance
The soaring cost of medical care is reason enough to make health insurance a necessity. Even a simple visit to the family doctor can result in a hefty bill. More serious injuries that result in a hospital stay can generate a bill that tops the price of a one-week stay at a luxury resort. Injuries that require surgery can quickly rack up five-figure costs. Although the cost of health insurance is a financial burden for just about everyone, the potential cost of not having coverage is much higher.

Homeowner's Insurance
Replacing your home is an expensive proposition. Having the right homeowner's insurance can make the process less difficult. When shopping for a policy, look for one that covers replacement of the structure and the contents, in addition to the cost of living somewhere else while your home is repaired.

Keep in mind the cost of rebuilding doesn't need to include the cost of the land, since you already own it. Depending on the age of your home and the amenities it contains, the cost to replace it could be more or less than the price you paid for it. To get an accurate estimate, find out how much local builders charge per square foot and multiply that number by the amount of space you will need to replace. Don't forget to factor in the cost of upgrades and special features. Also, be sure the policy covers the cost of any liability for injuries that might occur on your property.

Automobile Insurance
Some level of automobile insurance is required by law in most places. Even if you are not required to have it, and you are driving an old clunker that has been paid off for years, automobile insurance is something you shouldn't skip. If you are involved in an accident and someone is injured or their property is damaged, you may be subject to a lawsuit that could cost you everything you own. Accidents happen quickly and the results are often tragic. Having no automobile insurance or purchasing only the minimum required coverage saves you only a tiny amount of money, and puts everything else you own at risk.

Bonus Tip For Business Owners: In addition to the policies listed above, business owners need business insurance. Liability coverage in a litigation-happy society could be the difference between a long, prosperous endeavor and a trip to bankruptcy court.

Shop for Insurance Carefully
Insurance policies come in a variety of shapes and sizes and boast many different features, benefits and prices. Shop carefully, read the policies and talk to the agent to be certain you understand the coverage and the cost. Make sure the policies you purchase are adequate for your needs, and don't sign on the dotted line until you are happy with the purchase. (For related reading, see: Introduction

Read more: 5 Insurance Policies Everyone Should Have https://www.investopedia.com/insurance/insurance-policies-everyone-should-have/#ixzz5GwSzWOdv
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Reasons to Buy Life Insurance and Types of Life Insurance

Reasons to Buy Life Insurance

The most obvious reason to buy life insurance is when you have clear insurable interests and want to be financially protected from a catastrophic accident. For example, you may have large debt obligations from student loans or a mortgage that you do not want to be passed on to someone else. You might also have a spouse or children who rely on your income, parties who could depend on insurance claims to survive if something unfortunate happened to you.



Insurance can have other features besides a death benefit, however, which means there might be other good reasons to buy a policy. Some policies provide support for certain medical problems, such as cancer or paralysis. Permanent life insurance policies can serve as tax-advantaged savings vehicles through the accumulation of cash value.

Federal law prohibits insurance providers from selling policies on the basis of their cash value, although this almost certainly happens. This does not mean it is always a bad idea to buy insurance for its possible cash value accumulation. In some circumstances, cash value might accumulate money at a faster rate than other investments with less risk and more favorable legal ramifications.





Types of Life Insurance
Insurance is typically divided into two categories: term and whole life. This undersells the diversity of insurance products available to consumers since there are many different kinds of term insurance and many different kinds of permanent insurance.





Term insurance is designed to cover a specific set of possible events over a defined period. For example, a level term life insurance policy might offer $200,000 worth of coverage over 20 years and cost $20 per month until the end of the term. A beneficiary is named on the policy, and he receives the $200,000 if the insured party dies or is critically injured. For a 25-year-old individual with little debt and no dependent family, this kind of term life insurance is often unnecessary.

Some term insurance policies allow a return of premiums, fewer fees, and expenses if the insured outlives the policy. This is called "return of premium" term insurance, and it tends to be more expensive than level term policies.

Decreasing term insurance is a useful option to cover a specific kind of financial liability, such as a mortgage. The face value of a decreasing term insurance policy declines over time, usually because the liability is expected to shrink over time, such as the mortgage being paid down. Even some individuals in their 20s can have insurable liabilities, which means there might be an argument for a decreasing term policy.


How Insurance Can Pay Off
A cash value that builds for decades can amount to hundreds of thousands of dollars in future tax-free income. This can be an important aspect of a comprehensive retirement plan, especially if you already plan on maxing out an IRA. This strategy only works if premiums are paid consistently; permanent life insurance policies lapse if the cash value gets too low, which leaves the policyholder without coverage.



Even if you cannot afford a permanent life insurance policy, most 20-somethings can receive very good term policies for very low costs, such as $200,000 to $300,000 in coverage for $15 to $20 a month in some cases. More importantly, some term policies can last for 20, 30 or 40 years; you could be covered at a very low cost throughout your entire working life.





Read more: Getting Life Insurance in Your 20s Pays Off | Investopedia https://www.investopedia.com/articles/personal-finance/100615/getting-life-insurance-your-20s-pays.asp#ixzz5GlMswMVW
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