In history people like Adolf Hitler and Mahatma Gandhi are very famous for fighting for their visions. Although both of them had different results. Hitler ended losing his war and with his suicide ended his vision. Mahatma Gandhi on other hand saw his vision become a reality.

Cheating with Insurance Companies

Many people have climbed peaks. Some have even tried to claim insurance by doing bizarre things. Like Mary Evano and her husband who took more than $200,000 before getting caught on insurance claims. They used to literally eat glass. Actions like these clearly indicate how far people are willing to go for money.

Auto Insurance

On Saturday 20th February, a 16 year old boy living in Alabama collided his car with a tree. At night he was driving a residential road, and the road ended without any warnings. He went through the woods and hit a tree. He had a passenger who went to the emergency room to get checked out. Everything turned out to be fine and a liability claim was not being filed.

The insurance company said the kid’s car was totaled, and they will have to send someone out to make sure there weren’t really any signs.

Loan Settlement Period

 The settlement usually takes some time to settle. The question “How long does it take to get a settlement from a car accident?” is a common question. There is a list of things which the company requires before they agree for a settlement.

* Images

* Doctor’s Report

* Police Report

* Chiropractor’s Reports

* Witness Testimonies

The sooner the ball starts to roll the quicker a claimer receives the money. As soon as all the data is assembled one should start the process.

Fighting For The Money

If a settlement is settled out of court, money can be received within 2 weeks. When it delays, it is usually because they are not willing to pay. A claimer at that time should look for a car accident attorney. When legal help is taken a claimer will receive more money.

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Road accidents and natural disasters cause widespread damage and create a large volume of insurance claims for damage to homes, businesses, cars and other property. Finding an appropriate insurance company is not tough task anymore. One just needs to understand that what sort of insurance he/she is looking for. There are insurance companies in abundance who are searching for the costumers. After the 9/11 attacks in US, insurance companies now initiating policies that can well suited all to strata’s of life.

The most desirable sort of insurance is Car (Auto) Insurance. There are various types of auto insurance coverage depending on the preference of consumer. Main types are listed below:

Coverage of Injured Body

This is a sort of Auto Insurance where you will get the treatment of injury caused by the accident on the road. This type of Auto Insurance gives the policy holder different benefits, such as, claims of hospital bills, lost income and many others. Even if you have caused an accident, and someone filed a case against you, then this Auto Insurance Policy will protect your personal assets.

Coverage of Property Damage

A type of insurance policy that pays for damage caused to the property of others, including cars, telephone poles, lamp posts, fence and others. Coverage of any such damages is base upon the Policy Agreement.

Coverage of Personal Injury Protection

Personal Injury Protection (PIP) helps reimburse you for some of the pay you would have missed out during the healing time from your injury.

PIP not only covers reasonable and necessary medical and hospital expenses, it can also help you with other expenses while you’re healing. These vary state to state, but it includes:

• Income continuation
• Loss of services
• Funeral expenses

Comprehensive Coverage

Natural Disasters and natural calamities upset people’s lives. Natural disasters cannot be prevented, but the damage can be compensated. Comprehensive Coverage insurance bears the losses sustained by natural disasters. Comprehensive Coverage also gives the advantage to policy holder of retrieving the capital that is lost in robbery or in looting. Rebuilding after a catastrophe can be easier financially if you get the right insurance.

Collision Coverage

This is the most common type of Insurance Policy. It is getting boom as the more cars are ready to be driven. Now the car companies make sure that the prospect should hold a Collision Coverage policy in his or her Insurance. Collision Coverage insurance pays for damage to your car, not the damage of the other car you did not hit, nor the pedestrian hit by your car. You will be entitled for the cover up of your car loss in Collision Coverage insurance.

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By and large individuals buy insurance policies for the security of their loved ones that monetarily rely on them. It is certainly not easy to envisage this state of affairs, however, if the main source of income for a family expires; the family can come across a grave financial dilemma. If your family is dependent upon your earning, it is therefore, of vital importance to take life insurance policy.

You may be aware of the fact, it is not mandatory that recipient of a policy should be an immediate family member. It is also not necessary that you must be the one to purchase insurance policy on your life. Your company can also do it.

Moral Values Related to Corporate-Owned Life Insurance

The term COLI (Corporate-owned life assurance) is also known as ‘dead peasant life insurance’. It means that an organization takes a policy for his worker. This has also been highlighted in a movie, “Capitalism a Love Story”. The organizations are still maintaining this practice, though it has caused a fury not only amongst the members of family, but also in other individuals.

Capitalism a Love Story

In this movie, Michael Moore plays the role of a public prosecutor who has unearthed many cases of “dead peasant insurance” claims. These policies which are purchased to protect the financial interests of the families of expired employees- are actually for investment purposes (a racket). The companies that seize such policies take loan against these and also have tax relaxation. These ultimately enhance the profit of company, but not give any benefit to an expired worker.

You must be thinking, how does it matter to you that you employer has bought a policy for you or not. It is true that a dead peasant policy will not cost you anything, but ethically it is wrong on account of certain grounds:

Zero Monetary Benefit to Your Family

With your death, your organization has nothing to lose; but certainly your family members will suffer a lot by not having your earnings anymore. Actually, they are the people who must be befitted with life insurance policy.

Infringement of Conviction

On ethical grounds, it is mandatory that the company must acquire formal approval of workers prior to purchasing life insurance policies for them.

Still, many of the personnel and their families have no idea that their company seizes a policy on them.

Business over Your Dead Body

It is really a spine-chilling contemplation; is not it?

No Change is Anticipated in Dead Peasants Insurance Policies

Despite all the above mentioned, still these type of policies have not been sacked. In this regard Internal Revenue Service (IRS) is taking some action and inspects those policies that seems fake to them. Nonetheless, a large number of big business concerns are still maintaining this practice. In fact the corporate owned life insurance policies make a lot of money for them. In this regard, note the following facts:

• The share of such policies comprise of twenty percent of the total life insurance plies sold on yearly basis.
• It is anticipated that such type of policies will offer the organizations more than $9 billion in terms of tax relaxation for the next five years.
• For purchasing these policies the business concerns pay $8 billion to insurance companies in a year.

The dead peasant life insurance is therefore, a huge source of income for the insurance companies. Until or unless, Govt. passes a decree against these policies, this practice will continue and your company may hold a policy on you. You must therefore, carefully go through the papers before signing these, so that consciously you don’t become part of this business.

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Following are some tips to consider while deciding to claim your insurance.

Prepare Before Claiming Insurance

Every time you call up your insurance company to ask whether you can claim insurance, those calls are being recorded. You need to keep your records clear and clean and therefore dialing those numbers to the insurance company first sit down and weigh out the situation by analyzing the damages and working out the cost to see if you can pay for it.

Whether it is your fault or not, sit down and calculate the damages it might be possible that you can pay it off without experiencing any financial hardship.

Fill Up the Auto Accident Worksheet

Before you claim your insurance it is important that the proof and evidence of the accident be recorded. Only after a thorough investigation and analysis you will get your auto claim. Insurance companies are sitting in the market to perform a business; they are no dumb idiots who will lend out the money to cover such expensive boundaries. They will require full proof evidence backing up your story. This is the case in any claim filing for insurance.

This worksheet is to be printed out and provided in physical form along with the mentioned documents supporting the incident.  Make sure to have witnesses who saw the accident and it should be properly documented. Probably police complains or reference could help you out here.

Contact Insurance Company Quickly After Crash

If you have identified that you will require the help of your insurance company and you really need to file the claim, than you got to do so immediately. This is because if you linger to long thinking whether you should approach you insurer than it might be possible that the other side have already approached and taken the first hand advantage in this accident. To avoid this even if it isn’t your fault, approach your insurer as quickly as possible since they can help you out of the mess as an advocate.

Await for the Other Side’s Call

Everything involving the insurance company will be bound to get messy and legally dirty. Therefore if there has been a disagreement on the site of the accident be ready that the other insurance company will call you for your details and versions of the accident. To handle this situation, document your conversation with the client and note down the insurance company’s name and the agent you had a talk to. You never know what information or evidence may come handy if things get out of hand.

Triumph At the Sight Of Your Fixed Car

The last stage is to get your car fixed after the battle of the insurance companies. Once you have obtained the claim. Your insurance company will call up and notify you of sending over an insurance adjuster to magnify the body damages if any on the car. Or they will kindly request you to make your car appear at any of the nearest pre-approved shop to get it fixed and all new as before.

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