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Knowing Your Life Insurance Policy

Not only is having life insurance vital, but knowing the exact details of your policy are also just as imperative. 

For some people such as Joan Settje, the specifics (or non-existence) of her husband’s life insurance plan were not unveiled until after his untimely death at the age of 72.

After her husband Lon Settje retired from his career, he decided to take on a part-time job at the popular convenience store Target near their home in St. Charles, Minnesota. Lon didn’t take on the job for the money; rather, as opportunities to still feel connected to the real world. He enjoyed the customers, the respect, and overall just being helpful in his community.

For over six years, Lon was a signature at the Target Superstore. He wouldn’t work many hours. In fact, during his last year he even cut down to just eight hours per-week.

Regardless, Settje loved his job and enjoyed the wonderful benefits he reaped from working for such a substantial company like Target.

After passing away in September, Lon’s wife Joan received a letter from Target with information regarding his 401(k) plan, pension, and other benefits including his life insurance plan.

Because of his limited hours, the company explained that Lon was enrolled in a basic company life insurance plan that would provide his wife with a year’s worth of Lon’s salary. 

Target urged Joan to call Minnesota Life Insurance to begin the process of initiating a claim. Unfortunately for Joan, it wasn’t that easy. 

During that exact phone call Joan was informed that Target had not submitted any documents in order to process her late husband’s claim. When Joan confronted Target about the issue, they told her that a mistake had been made and her husband actually never had a life insurance policy through their company to begin with.

Needless to say, after dealing with the death of her husband and all of the grief that already comes with such a tragic event, this was the last bit of information Joan wanted to hear. 

Joan decided to write a letter to Target in order to find out why she was ever told her husband had life insurance in the first place. Target was very passive about the issue, by simply writing back weeks later with a blank complaint form, basically telling Joan to take her problem elsewhere.

After being dismissed by Target, Joan decided to write in to “What’s Your Problem?” At this time she was unaware of the exact price of her husband’s policy, but that was not even the main source of Joan’s frustration. 

When she found out that it had in fact been a minimal amount, Joan was even more frustrated.

“That’s part of what makes me so darn mad, because he worked overtime a lot… he came in early when they called him and stayed late when they needed him,” said Settje. So mostly, this was a respect issue for Joan.

“The last call I made to them they just said, ‘He didn’t have one,’ and hung up on me,” she said. 

“The Problem Solver”, an employee at “What’s Your Problem”, contacted Target spokeswoman Kay Rubbelke, who simply stated she couldn’t talk about the issue, but promised to look into it.

As promised, Target contacted Settje saying that because her husband worked under 20 hours in the weeks leading up to his death, they were forced to drop his policy.

Settje felt that this didn’t sound right to her, but was through with fighting the issue. Luckily, “The Problem Solver” was not.

The company contacted Target again, asking why the original letter was sent in the first place stating that Lon did have life insurance if he really did not. “The Problem Solver” then faxed a copy to Rubbelke.

Within hours, Joan Settje received a very uplifting phone call saying that the company had changed its mind. 

“They said they looked into it further and, yes, he had been enrolled in a company policy,” Settje said. “They apologized for not getting back to me and straightening out this matter. They said they were glad I contacted you because it brought to light a lot of problems they were having in the office.”

The Target spokespeople also told Joan that her husband’s annual salary for his final year was $3,600, but they would send her a check for a solid $4,000. When the check arrived it was made out for $4,079.11 ($4,000 plus interest). Also attached, was a letter of apology.

“All these months, I was just going to let it go,” she said. “I just can’t believe it.”

Lesson learned? KNOW YOUR POLICY. You don’t want to end up in a situation similar to Joan’s, especially if it is for a significant-life changing amount of money.

If you do not have life insurance currently set up for you and your family, now is the perfect time. If you live in the states of Arizona or California and are looking for affordable life insurance please contact ASJ Insurance & Financial Services Inc. at (602) 212-1048 or (877) 275-2201 or visit their website www.asjtermlifeinsurance.com to get an instant accurate quote for your needs. ASJ Insurance & Financial Services Inc. represent many nationally reputed insurance companies like The Hartford, MetLife, ING, Lincoln Benefit Life, Lincoln National Life, Ohio National and many other companies.

Health Insurance Reforms on the way….

After heavy anticipation from residents nationwide, the long-awaited healthcare bill was finally voted on. A national effort has been induced in order to put a spotlight on the numerous Americans who are currently living without any type of health insurance whatsoever.

Even those who are not unemployed including Hazel Layne, who is actually a health caregiver for Alzheimer patients at an assisted living facility in West Virginia, is forced to go visit the West Virginia Health Right Center when she is ill because her employer does not offer insurance to its employers who don’t get paid at least a predetermined amount.

“They offer insurance, but I don’t get paid enough to get their insurance,” said Layne.

Layne is just one of nearly 19,000 residents of West Virginia who receive treatment at the free clinic each year. An overwhelming 83% of these people actually have jobs; however, are not offered group health insurance benefit.

The executive director of the West Virginia Health Right Clinic, Pat White, considers these particular patients to be “the working poor”. “They are people that are at fast food restaurants, that are mowing lawns, that are cleaning offices, there are many of them having two or three jobs, but just not being able to afford, or not being offered, health care insurance by their employer.”

White feels that the country can no longer handle the unbelievably high number of uninsured citizens since that number is continuing to grow at such a shocking rate. Not to mention, the fact that the price of typical health insurance has continued to rise every year.

White is among the people who feel that something needs to be done immediately and stresses that this is a national issue and not just a problem in the state of West Virginia.

“They live sicker, and they die sooner than the rest of the population that has health insurance coverage,” says White.

For those living through this particular predicament daily such as Layne, they believe that anyone who works and pays taxes should be able to get affordable health insurance. She sums up the national debate this way.

According to Gavin Magor, a Ratings Senior Insurance Analyst, there are presently 46 million Americans living uninsured. More than 9 million of these people happen to be children. The worst part is that more than eight out of 10 of these people come from working families.

Luckily, for all Americans the issue of health care reform has been a prime subject in recent weeks and hopefully pushed through the congress. Until we as a country reach such a life changing decision, it is vital to know that you have other options. There is still affordable health care insurance out there.

If you live in the states of Arizona or California and are currently seeking out health care insurance please call and speak to someone at ASJ Insurance & Financial Services Inc. today, or visit their website at http://www.asjhealthinsuranceexchange.com/. Their helpful representatives are more than willing to help you and your family find a suitable health insurance plan that works for you and is affordable.

States find ways to deal with Uninsured Drivers

Recently the state of Oklahoma implemented a bill that will eventually result in fewer automobiles on the road. The bill forbids any vehicle to be driven without insurance, which is the same in every state in the United States. The difference? Oklahoma has made it a rule that they are allowed to automatically tow away any vehicle without proper insurance.

After many voters requesting that a bill such as this be passed, state Representative, Steve Martin, finally stepped forward and presented the bill hoping to take all uninsured drivers off the road.

This bill comes shortly after the Oklahoma Department of Public Safety put instant auto insurance verification systems into place. The new systems make it possible for police officers to verify whether or not you have legit auto insurance in less than eight seconds. All they have to do is check your license tag number. It’s as easy as that. Although these verification systems have been in place for several months, but prior to this bill, law enforcement officials could not seize a vehicle that was uninsured. Bottom line: If you are driving in the state of Oklahoma without auto insurance and get pulled over, you better have money to accommodate a pricey cab ride home.

This comes as great news to the millions of drivers out there who are insured to see those who do not taken off the streets. When an automobile accident occurs involving an uninsured driver it affects both drivers negatively; nonetheless, is an easily avoidable hassle.

With such positive feedback, do not be surprised if other states follow Oklahoma’s footsteps and begin to enforce similar laws.

So what can you as an individual motorist do to make sure your vehicle doesn’t get towed and impounded upon being pulled over? It’s simple. Get auto insurance and make your monthly payments, or be prepared to pay the consequences that come along with driving without insurance.

It is very easy to find reasonable auto coverage these days with all of the instant auto insurance quote systems available online. There are endless ways to keep your monthly premiums down as well and driving uninsured is definitely not one of them. In fact, in the long run you will end up with way more expenses compared to a low monthly rate. In current times, it is impossible to hide from the law if you are driving uninsured.

If you are in the states of Arizona or California and are without adequate auto insurance, or choose to see if you can save on your auto insurance premium, feel free to inquire about ASJ Insurance & Financial Services Inc. They represent many great companies like The Hartford, MetLife Auto & Home, Traveler’s, Progressive, Infinity and many other companies. You can visit their website at http://www.asjautoinsurance.com where you can get an instant quote from Progressive, or give them a call at (602) 212-1048 or toll free (877) 275-2201 to get a no obligation customized quote to fit your budget and needs.

MetLife Buys AIG’s Life Operation

A huge movement occurred for life insurance on Sunday, A.I.G. agreed to sell its unit of American Life Insurance to MetLife for an astounding $15.5 billion, $6.8 of which will be in cash. This is the second major transaction in a one week span for the company that is still desperately trying to dig itself out of substantial debt.

Just last week A.I.G. sold American International Assurance to Britain’s Prudential P.K.C. for $35.5 billion. The sales together brought in a combined $51 billion for the struggling company.

For the MetLife move alone, A.I.G. brought in $6.8 billion in cash. The rest will remain in a combination of both common and preferred stock shares, which include the mandatory convertible preferred stock.

A.I.G. has stated that the first 9 billion from the sale will go directly towards the redemption of its preferred shares in Alico, which is held by the Federal Reserve Bank of New York. The rest of the money will be used to lower the New York Fed’s lending commitment to A.I.G.

In the early days, A.I.G. will still own an 8 percent stake in MetLife; however, after the stocks are converted from preferred to common stake it will end up being slightly over 20 percent.

The deal between A.I.G. and MetLife will be finalized by the end of 2010. MetLife is hoping that this monumental move will help launch its stock from 45 cents a share to 55 cents by the end of next year.

Both companies stated that this deal has been in the works for well over a year; however, not all is said and done for the still unsteady A.I.G. Still to be solved is exactly how A.I.G. will repay the remainder of its bailout, which includes the nearly 80 percent currently being held by the government.

Some financial analysts suggest that converting the government’s preferred shares into common stock that can be sold over a period of time (either through direct conversion or through replacement with newly issued shares) is their best bet.

What the future holds for A.I.G. is nearly impossible to say. After undergoing a tremendous liquidity crisis back in September of 2008, the company has had a rather difficult time getting back on its feet; however, hopefully these two large sales will help boost the one-time power company in the right direction.

Teenager’s and Auto Insurance

One of the most stressful moments in any parent of a teenager’s life comes around the time they turn sixteen and are able to get their drivers license. Not only do they have to worry about the financial burden of purchasing a vehicle for their young driver, but also the safety of their child.

Another major, yet essential hassle both the parents and teenager have to face is finding auto insurance. Unlike regular auto insurance policies, those designed for teenagers tend to be more expensive.

This comes from a variety of reasons including the most obvious statistic – that teenage drivers aren’t necessarily the best out there. In fact, according to the Insurance Institute for Highway Safety (IIHS), 16-year-olds get into accidents almost 6 times more often than drivers between the ages of 30 and 59. This being said, car insurance premiums are much higher for this age group because the higher the risk one is, the higher the cost of their auto insurance premium.

However, there are definitely things a teenager can do to keep their auto insurance premiums low by attending safety programs or classes to learn safe driving habits.

For starters, teach your teen the traffic laws and make sure that they follow them. The easiest way to keep your car insurance the lowest possible is by have a clean driving record.

Also for parents, make sure to set a good example for your young drivers. If you exceed the speed limit, tailgate, administer road rage, and then you are just showing your teenagers that this is the proper way to drive. Make sure to practice your safest driving tactics when you are teaching your teen to drive.

It is also a smart idea to put your teen under your policy, rather than getting an individual policy for them. By putting them on your auto insurance policy as an additional driver, they could be treated as an occasional driver and therefore have a lower premium.

You may want to set limits as to when, where, how, and with whom your teen is allowed to drive. Some parents set limits on the number of passengers allowed in the car at any given time, after all loud noises such as music, cell phones, and multi-person conversations can create serious distractions.

Speaking of cell phones, you should enforce a no cell phone zone in your teen’s vehicle. Talking and texting while driving is one of the most dangerous distractions for any driver on the road and could have very serious results.

Other rules you may want to enforce in order to keep your teen as safe as possible on the road include: limiting your teen’s driving distances, consider not allowing your teen to drive during high-risk accident times such as weekends, and establish a curfew.

If you are a resident of Arizona or California and have questions regarding auto insurance or are looking to get a policy for your teenager please visit ASJ Insurance & Financial Services Inc.’s website today www.asjinsurance.com  or give them a call at (602) 212-1048 or toll free (877) 275-2201.

ASJ Insurance & Financial Services Inc. represents many reputable insurance companies like The Hartford, MetLife Auto & Home, Progressive, Infinity, Travelers and many other companies and they could do all the shopping and comparisons and get you the best policy.

Latest on Health Care Costs & Reforms

According to a recent study conducted by the PLoS Machine, value-based insurance design (otherwise known as VBID) in which consumer payments are waived for highly effective treatments, but are raised for less effective ones, could increase the benefits of healthcare in the US without increasing expenditures. This could potentially be the very answer to health reform that all Americans have been waiting for.

Health care benefits and co-payments have always worked side-by-side and been distributed equally among employees. This arrangement has worked well for many years. But is it effective? Or is VBID the answer struggling health care consumers have been longing for?

Advocates of “value-based insurance design” suggest that it makes more sense to price health care costs based on their specific value to individual patients rather than using a “one-size-fits-all” solution. The costs saved by VBID could be used to formulate coverage for the currently uninsured, providing a substantial improvement in health outcomes.

All current cost sharing programs are nearly always based on the expense of the service or medicine and rarely is related to its potential benefit to a patient. The new plan would design specific services for targeted groups of patients.

Strategies that influence the quantity of health care consumed are essential to controlling healthcare costs. Cost sharing decreases health care costs, but it can also reduce demand for essential care and thus reduce the overall quality of care.

Consequently, some experts have proposed VBID, an approach in which the amount of cost sharing is set according to the ”value” of an intervention and the additional health benefit it adds per dollar spent rather than its cost. For example: under VBID, cost sharing could be waived for office visits necessary to control blood pressure in people with diabetes, which constitute high-value care, but could be increased for high-tech scans ordered to diagnose chronic dementia.

In the current study, using computer simulations of costs and life expectancy gains based on US healthcare data, R. Scott Braithwaite of the New York University School of Medicine and colleagues, estimated that approximately 60% of health expenditures in the US are spent on low-value services and 20% are spent on high-value services, indicating that the vast majority (80%) of health expenditures would have cost sharing that would be affected by VBID.

Broader diffusion of VBID to drug costs alone increased the benefit conferred by health care by 0.03 to 0.05 additional life-years, without increasing overall costs or out-of-pocket payments. Extension of VBID to other health care services could increase the benefit conferred by health care by 0.24 to 0.44 additional life-years. Among those without health insurance, using cost saving from VBID to subsidize insurance coverage would increase the benefit conferred by health care by 1 .21 life-years, a 31% increase.

If you have any questions regarding health care insurance and live in the states of Arizona or California please visit ASJ Insurance & Financial Services Inc.’s website today (http://www.asjhealthinsurance.com) to get an instant comparative quote from several health insurance companies like Blue Cross, Blue Shield, Cigna, United Health, Health Net, Pacific Care, Kaiser, Assurant Health and many more. Or give them a call at (602) 212-1048 to discuss various options available to you.

Importance of Life Insurance

Given the constant reminder of how important savings and cutting back are during times of economic crisis, like today, many people are wondering exactly how necessary life insurance really is. We’re here to tell you that the answer is: very important.

 Life insurance is the number one way to reach financial independence. The burden of planning a financial future for you and your loved ones will virtually be lifted off your shoulders, as this is the exact job of any life insurance policy.

Americans nowadays have a variety of stresses to worry about including raising families, caring for aging parents, not to mention managing their own careers. So, it’s safe to say that what exactly happens to your family after you pass on is probably far from your mind. Although, equally important as the above responsibilities.

No matter what your individual situation may be, it is critical to have some sort of control of your finances at all times. For certain scenarios this means setting goals, formulating a plan, and monitoring the progress. In terms of your family’s future, you should take it a step farther, and purchase a life insurance policy to make sure that your family is 100 percent taken care of, regardless of what the future may hold.

Life insurance is the foundation of all sound financial plans. It is necessary.

Life is full of uncertainty and inevitable tragedy. Whether we experience them ourselves, read about them in the newspaper, or even hear about them on the news, it is happening all around us at any given time.

You are able to provide comfort for your family (dependents), by letting them know that there is a life insurance plan provided for them, should a tragedy struck and you are no longer there to provide for the family.

Did you know that life insurance not only helps pay for pricey funeral expenses, but it can also be used to pay off your mortgage, credit card balances, auto loans, other secured or unsecured loans and other household expenses? It can also supplement retirement savings, fund future education costs, and even help pay off estate taxes. Your family will be able to avoid having to sell assets because they need to pay off outstanding bills or taxes, just because you forgot to take the time to organize a simple life insurance plan.

If you’re the financial breadwinner in your family, then more than likely your wife and/or children depend heavily on you. In the event of your untimely death, life insurance can cover child care and even future needs such as college tuition etc.

Life insurance is the perfect answer for smaller families with low savings to depend on, yet a lot of responsibilities. One individual life insurance policy can help the surviving members of a family survive for years, pay the bills, and raise the children.

This isn’t saying that only men with families are the only key recipients of life insurance. Even women, who are married with children and either, own their own business or have significant financial assets to protect, need life insurance. Make the decision to protect you and your family’s future. Get life insurance today. If you are in the states of Arizona or California, please contact ASJ Insurance & Financial Services Inc. They are the experts and represent many reputable life insurance companies like The Hartford, MetLife, Lincoln Financial, AXA Equitable, Lincoln Benefit, Pacific Life, Ohio National, West Cos, American General and many other companies. You can get an instant comparative Term Life Insurance quote at www.asjtermlifeinsurance.com or inquire about beginning your life insurance plan today at:  (602) 212-1048.

Health Insurance Fraud

With the economy still currently struggling to get back on its feet, many companies have found a prime opportunity to construct fake insurance fraud. Advocates from CBS say that health insurance scams are at an all time high right now. These problems have been occurring in every state around the country.

 James Quiggle, of the Coalition Against Insurance Fraud told CBS News, “People are suffering devastating financial losses. They are looking for a better health insurance deal. Swindlers love this kind of environment.”

 Unfortunately, for customers such as Bob Harper, this is a very realistic nightmare.

 With a tough economy, rising healthcare costs, and millions of people desperate for coverage, Consumer Correspondent Susan Koeppen describes the current situation as a ‘perfect storm’.

 One company undergoing investigation American Trade Association (ATA) has been accused of taking advantage of as many as 12,000 people nationwide.

 Harper found out his coverage was phony when he was preparing to receive life-saving surgery.

 “I was lying in my bed, honestly praying to God, ‘How am I going to get out of this?” Harper said.

 ATA has put many costumers like Harper in way over their head. Although ATA covered his prescriptions, he has been left owing $2,000 in uncovered claims.

 One consumer reportedly has $60,000 in unpaid medical bills, yet they had been paying monthly premiums to ATA.

 Harper has been left fearing his future. He is currently 63-years-old, has a handful of pre-existing conditions, and is virtually every insurance company’s worst nightmare.

 When CBS’s “Early Show” requested an interview with the reported fraudulent company ATA, they denied, but responded with the statement: “We have paid in full every single claim that met the terms of coverage, and we will continue to pay those that are outstanding.” ATA adds that it’s working to resolve issues with insurance regulators.”

 ATA, including other companies that have been accused of undergoing similar schemes are currently being investigated by the FBI.

 With so many frauds being constructed nationwide, it is important to have your guard up when shopping for insurance.

 Things to look for:

Aggressive sales (unsolicited faxes, phone calls or emails offering plans that sound too good to be true, especially if their  premiums that are much lower than the competitors. Companies that have very little information about themselves or the company’s backing the plan.

 If you are unsure, you can always contact your state insurance commissioner. This will enable you to make sure the company you have chosen to work with is licensed to sell insurance.

 If you live in the state of Arizona or California and are looking for a trustworthy, independent insurance and financial services agency, look no further than ASJ Insurance & Financial Services Inc. With access to top rated health insurance companies like Assurant Health, Blue Cross, Blue Shield, Cigna, Health Net, Humana, Kaiser and United Health, experts at ASJ Insurance are sure to find a plan that will fit your need and budget.

 Give them a call at (602) 212-1048 or (877) 275-2201 or visit their website http://www.asjhealthinsurance.com to get an instant quote from several insurance companies.

Auto Insurance & DUI

Many drivers know that there will inevitably be repercussions if you are caught drinking and driving, but they do not seem to know exactly how it will affect your auto insurance in the long run. DUI tickets stay on your driving record longer than other types of tickets such as speeding tickets.

 The truth is… it depends. What happens after you are charged with driving under the influence will vary based on a few different things. Certain components that are taken in to consideration are both the state that you live in and the insurance company you are insured with.

 In extreme cases, drivers who receive a DUI have even had their policies cancelled all together. You can lose your driver’s license entirely for a specified time as designated by state law. One thing that is certain regardless of whether it goes into effect instantly or once you receive your license back is that you will experience higher rates than before the incident occurred. Many insurance companies consider those who acquire DUIs to be what they call ‘high risk drivers’. Just as it states, you are a higher risk to them.

 Other negative aspects of receiving a DUI include the points that they will endure on your license. Points alone can increase your premium. This can even cause you to be turned away from new job opportunities. Some insurance companies will not even insure you if you have a DUI on your record; however, companies such as Progressive would never turn you away because of that but will charge a higher premium.

 Getting a DUI may be one of the toughest things one ever experiences; however, it is not the end of the world. Regardless, you will pay the consequences for a long time. Your best bet is to simply not drink and drive.

 ASJ Insurance have access to a number of companies like The Hartford, MetLife Auto & Home, Progressive, Infinity, Bristol West, Occidental and many more companies and we are confident that one of the companies is going to be a good fit for your auto insurance needs that will save you money too. If you have any questions regarding auto insurance, visit ASJ Insurance & Financial Services Inc.’s website http://www.asjautoinsurance.com/ or give them a call today (602) 212-1048 or toll free at (877) 275-2201, open weekdays 10am to 6pm and by appointment on Saturdays.

Life Insurance

The concept of life insurance can be very complex for many Americans to understand. The truth is that not all Americans need to have life insurance. According to insurance gurus at McClatchy-Tribune Information Services, the general rule is that you only need it if you are directly responsible for any dependents.

 Life insurance is designed to protect the average working family, in case of the sudden death of a loved one. It’s meant to replace your “value” so your family won’t be left financially unstable once you’re gone. For any working parent, a big part of your value comes directly from your steady salary. With the proper insurance plan, your family will receive enough money to compensate your salary on average for ten to twelve years.

 Having a durable life insurance plan will rid you of any “what if” questions you may have regarding the possibility of your family one day having to live without you.

 The most sought after type of life insurance is known as “term life insurance”. Term insurance policies are set to cover the insured person for a predetermined amount of years, generally anywhere from one to 30 years. For the average young, health family, term life insurance is the best option, because it tends to be the least expensive.

 Another type of life insurance that many purchase is permanent life insurance. Permanent life insurance, just as the name implies, will cover you from the day you buy it up until the day you die, regardless of the cause or time of your death.

 The main difference between term and permanent life insurance is that permanent policies tend to come with a cash value component. What this means, is that your insurance company will continuously invest part of your premium payments to build up cash values in your account. You will not be taxed on any investment earnings, until you cash in on your policy.

 In terms of price, the cheapest, most affordable policies will always go to those who are in good health and have a family history that is free of major health issues, as well. If you are taking some type of heart medication or have been diagnosed as obese, you may pay more than those who are in good health.

 Your best bet for purchasing a life insurance policy would be to get begin shopping for one early in life when you are still in good health and young. If you are looking for an insurance broker with access to 30 plus companies like The Hartford, MetLife, ING, Lincoln Benefit Life, Pacific Life, AXA Equitable, American General, Ohio National, West Coast Life that will provide you with instant quotes and friendly customer-service, visit ASJ Insurance & Financial Services Inc.’s website www.asjtermlifeinsurance.com or give them a call today at (602) 212-1048 or (877) 275-2201 to talk to an experienced agent who could help you decide what’s the right plan that would fit your need and budget.