Insurance

10 insurance policies that aren’t worth the money

10 insurance policies that aren’t worth the money
There are types of insurance that Americans don't buy enough – renters insurance, disability insurance, long-term care insurance, flood insurance. Then, there are others that we buy way too frequently and are, for the most part, a waste of money. Today, I am more worried about the latter -- and there is good reason to be concerned. This morning, the New York Times published an op-ed column by Nobel Prize-winning economist Paul Krugman who wrote:

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Missouri database offers scores for insurers, good to bad

Missouri database offers scores for insurers, good to bad
The Missouri Department of Insurance has published a searchable database of more than 11,000 complaints for consumers wanting to shop for coverage. The consumer complaint index report contains filings from Missouri residents about both local and national insurance companies like State Farm and American Family, Missouri Department of Insurance spokesman Travis Ford said in an e-mail to Consumer Ally. "It takes a few months for our statistics section

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Wedded Risk: You May Now Insure the Bride

Wedded Risk: You May Now Insure the Bride
After five months of planning, Paula Cubero was about to marry her fiance, Enrique Catter. The church was rented, the band was hired, and the caterer was booked. In less than a week, Enrique and his family -- along with hundreds of guests -- were going to land in her home town of Guadalajara, Mexico, and the wedding of her dreams was going to commence. "I had fireworks scheduled," Paula remembers. "His family was from Peru, and I planned so many

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What Insurers Could Do With Your ‘Social Media Score’

What Insurers Could Do With Your ‘Social Media Score’
Here's yet another reason to watch what you say and do online: Insurance companies are already surfing social media sites to get the scoop about their customers, and what their data-miners find may soon be compiled into a new way to rate you as a risk: a social networking score. Right now, vendors are building tools to automate the process of searching social media. Such technology would allow insurers and other companies to more easily mine data

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Death Bets Leave Oklahoma State University $33 Million in the Hole

Death Bets Leave Oklahoma State University $33 Million in the Hole
A major fumble on the life insurance gridiron has cost the Oklahoma State Cowboys $33 million. As Forbes reports, the OSU athletic department's attempt to bet on the deaths of 27 geriatric boosters with $10 million life insurance policies backfired when not one died. Talk about a Hail Mary gone wrong. Obviously, the way the scenario played out was less than a blessing for OSU. The "Gift of a Lifetime" fundraiser plan was allegedly the brain-child

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Social Security Going Bust? That’s the <i>Small</i> Problem

Social Security Going Bust? That’s the <i>Small</i> Problem
Many people are in a near-panic about the woes that Social Security faces. Accused of being a Ponzi scheme, the program is projected to run out of funds by 2036 -- and if it fails, potential consequences could be disastrous. But the other major government program that retirees rely on for their financial well-being faces an even bigger problem -- one that could come sooner than Social Security's demise and lead to more bankruptcy among retirees.

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How to Use Life Insurance to Donate to Charity

How to Use Life Insurance to Donate to Charity
When most of us buy life insurance, we're thinking about one thing: Making sure our families are taken care of after we're gone. But in this season of giving, you might also want to think about setting up a policy to take care of your favorite charity. It's a method of giving that can benefit both parties. What's in it for you? Properly structured, life insurance policies allow money to grow tax free, and the death benefit is usually transferred

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Unusual Earthquakes Leave Many Wondering: Is My Home Covered?

Unusual Earthquakes Leave Many Wondering: Is My Home Covered?
Debbie Saathoff, 62, of Bowie, Md., says she heard a giant cracking sound first. Then the pictures flew off the walls and vases on shelves came tumbling down and smashed as her home moved back and forth. "It was the scariest thing I have been through," she said hours after a rare earthquake rattled the Eastern Seaboard Tuesday. "I've never felt one before." Fairly strong earthquakes in two areas of the country where they rarely strike provided the

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The 7 Deadly Hobbies: Pastimes Your Insurer Hates

The 7 Deadly Hobbies: Pastimes Your Insurer Hates
It's often said that active hobbies promote healthy living. Some people, however, take their fun to the extreme, engaging in pastimes that put their health -- and even their lives -- at risk. Insurance companies refer to such activities as "hazardous vocations," and charge higher premiums to those who engage in them. Sometimes, they even deny such people coverage altogether. 24/7 Wall St. compiled data from government agencies and the organizations

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7 Best and Worst States for Individual Health-Insurance Premiums

7 Best and Worst States for Individual Health-Insurance Premiums
For those who don't have the luxury of employer-paid health coverage, finding out what individual coverage costs can be a challenge. A new study that the Kaiser Family Foundation released in early August could help to make it easier. The foundation analyzed data compiled by Mark Farrah Associates to determine the average premiums for individual health insurance across the U.S. last year. While the national average monthly premium per person was $215,

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