As I read the article in www.nytimes.com, I know that there are many ways to avoid this case. First is, before availing or engaging into a life insurance, you must first research and have a background check about the company’s credibility and quality of service. It is like partnership. The transaction that you will be dealing with the insurance company is not just like ordering a pizza and after that both parties has nothing to do with each other. In life insurance, the company and the insurer have a lifetime partnership. This kind of relationship should be evident in every insurance company.

There are many issues around the globe with regards to people who became victims of frauds and fake life insurances. Just like what the woman did in my previous entry, she shared her experience about her life insurance. Her entry is a very great help especially to those who would want to avail life insurance. People will be aware of the things they need to be reminded and careful of.

Do not keep this kind of experiences in yourself because there is a very huge possibility that your case would be the case of others. So be responsible enough.

Sometimes we need to be reminded with the phrase, “too good to be true”. It is not safe to easily fall on something we are not sure about. It is important of course to know more about what you are dealing with. I think there’s no wrong about availing this cheap life insurance but we must first assure its quality. Do not assume, make it sure! I know you do not want to commit any regrets in your decisions. Take time! Do not hurry.

I hope you will not commit the same mistake the women experienced in choosing the life insurance for her and her husband. Be careful! Think and weigh things first.

I saw an article in www.nytimes.com about a woman who was a victim of a cheap life insurance online. Just check the previous link to be aware of the wild things that can happen in securing a life insurance.

Nowadays, there are many ways to purchase a life insurance: internet, agents, friends’ referrals, etc… But we cannot be always sure that what we are purchasing will satisfy us. Just like what happened to the woman featured on the article, she preferred to go on cheap insurance. Sadly, she and her husband ended up disappointed. They thought they were able to save money but the truth is they can even purchase the higher level of insurance with the money and effort they spent.

The National Association of Mutual Insurance Companies (NAMIC), homebased in Indianapolis, said that Wisconsin’s ranking as one of the lowest-paying states for auto and homeowners’ insurance will be threatened with the passage of this bill.
“Supporters of this legislation have clearly ignored the multitude of studies showing that credit-based insurance scoring is an objective and actuarially valid tool that enables insurers to better predict the likelihood of future claims and the cost of those claims,” said Robert Detlefsen, NAMIC’s vice president of public policy. “The practice is a major factor in holding down insurance rates for the great majority of Wisconsinites who have good credit histories.” (news from insurancejournal.com)

New York and other states have much at stake. They and local governments buy bond insurance to make investments in infrastructure and other projects more appealing to investors. Insurers guarantee at least the principal investment, plus interest, in the case of defaults.
Based on the insurancejournal.com website, the trouble is that “bond insurers have found their capital reserves in jeopardy because of huge investments in the same subprime mortgage sector that has left banks reeling. Some insurers have been downgraded, meaning they cannot back new municipal bonds. Bond insurers are not an attractive investment at the moment, meaning a tough sell for Dinallo, according to Mirko Mikelic, a senior fixed-income portfolio manager at Fifth Third Asset Management”.

New York State agents and insurers praised the passage late last month of a key workers compensation reform that will extend the rate-making authority of the New York Compensation Insurance Rating Board, and move the system to a loss cost method of calculating rates.
The new method will better reflect industry-wide experience and directly related expenses and create a more competitive environment for workers compensation, said the Independent Insurance Agents and Brokers of New York.

IIABNY Chair Stephen R. Zogby said the new posting of the insurers’ individual loss cost multipliers should be “a valuable tool for agents and brokers, as well as their clients.”

Stiil from insurancejournal.com site, a group of insurers says it hopes U.S. lawmakers will continue to focus on the need for affordable property insurance, an optional federal charter for the insurance regulatory system in America, and comprehensive flood insurance reform in 2008.
“2008 is shaping up to be another active year for the property/casualty industry,” said the American Insurance Association President, Gov. Mark Racicot. “AIA and its member companies look forward to engaging in a constructive dialogue and debate with policy makers on issues that affect our industry, which has provided protection and been our nation’s financial safety net for over 150 years.”