Bonded life insurance settlements are settlement for insurance policies that are provided by bonding companies. For a premium, these companies promise to buy out the purchaser’s interest in the policy at face value, in case the policy does not mature by a particular date.
Bonded policies typically have a low return on investment, as a part of the purchase funds is dedicated towards, paying a lump sum performance bond premium. Bonded viatical life settlements, also known as bonded viaticals, are termed as secondary market life insurance policy contracts. Viatical investment contracts have the option of, emergency or stop loss insurance on the life expectancy, which is called a wrapper.
The insurance company that issues the wrapper offers, an insurance policy or financial guarantee, according to the performance of the underlying life expectancy. This kind of financial guarantee ensures more security and safety to policy owners, who might be interested in purchasing viatical investment contracts. This transfer of the life extension risk from the purchasers to an insurance company increases, the chances of a return on the funds that are invested.
However, there is one major risk associated with viatical purchase contracts or viatical investment. The risk is that the insured, which is also known as the viator, will live beyond their originally anticipated life expectancy. To combat the life extension risk, some viatical companies escrow additional funds to cover for it. In case these funds are exhausted prior to the maturity of the policy, its responsibility lies with the purchaser. It means that the purchaser of the viatical investment contract may have to maintain the account by paying the premiums, until the maturity of the contract. The maturity of the contract in this case is the death of insured.
There is also a possibility that, an escrow agent or trust department, is concerned with making payments for premiums on the life insurance policy. The status of this escrow agent or trust company status must also be looked upon during the determination of the value of the investment.
One of the supreme delights that a person can obtain is by possessing his own boat. It takes us to the past when adventure on the high seas was a real experience and man was the complete ruler of his dominion as a commander of his ship.
At present there are few places where a common man can be master and leader of his own fate, but a boat is one of them. But possessing a boat is not without peril or cost. Boat insurance is necessary for shielding such an expensive asset.
The two chief aspects of boat insurance are legal responsibility, or security and insurance; and property loss. In some respects, they are managed the same way as automobile or home policies.
When an individual insures his boat for liability, it guards an individual against harm to another person’s assets brought about by the boat. It also has provisions for lawful protection, in case one is charged for something that is protected under the boat insurance.
However, there are certain delicate differences from an automobile policy when it comes to loss and damage insurance. The characteristic coverage for loss is either “actual cash value” (ACV), or “agreed upon” value.
Boat insurance, which is “agreed upon” for worth, has a money amount printed in the policy, which is the sum, compensated for complete loss. Limited damages are restored at “for new” prices, implying that there is no reduction imposed, apart from high wear matter like sails, and some machinery. This is the extra-costly alternative to cover a boat.
An authentic cash value policy indicates that if a boat is a complete loss, one will obtain the existing market price, not including the deductible, and suitable reduction for the age and state of the boat during loss.
Auto insurance companies are organizations that provide coverage on an automobile against any loss. It means that in case of any accident, the company will compensate any financial loss. To obtain this coverage, a person is required to pay a fixed amount periodically to the company, which is known as premium. It is against the law to drive without car insurance in most of the states of the United States. Therefore, people are always looking for better and cheaper options, which is why there is so much competition among the leading car insurance companies to provide the best and most lucrative car insurance policies.
Car insurance companies offer attractive discounts to people who have a good driving history. Such discounts are aimed at encouraging better and safer driving habits. Customers with a bad driving history and bad credit scores are offered higher premiums as they are considered to be in the high-risk category. Most of the car insurance companies offer discounts for students, senior citizens, people who have been with same company for long time and military personnel. They also have certain special programs for customers in active military duty. Car insurance companies also offer discounts to people who make very few or no claims. This is done to discourage people from filing claims for every small or big amount, as fraudulent claim are a major cause of concern for car insurance companies. Some policyholders report false accidents and losses to get money from their insurance companies. To check this practice, insurance companies also employ in-house investigators.
Car insurance companies take many measures to retain as well as acquire a new customer base. It is necessary as customers have an option of renewing their current policy or going with another insurance provider every six months because generally car insurance policy term is of six months. Some of the major car insurance companies are Allstate Insurance Company, State Farm Car Insurance, AIG, Safeco, and Unitrin Direct. Most of these companies offer round the clock customer service and can be reached through their official websites or by dialing their toll free customer service numbers.
Life insurance involves a contract between the insurance company and the insured, which is bought by making regular periodic payments known as premium. These contracts are facilitated with the assistance of life insurance agents. They help their customers decide, the type of life insurance they would require – whole life or term life. Life insurance agents also help their clients find suitable rates for the kind of insurance policy they require. To become a life insurance agent, a person needs to be committed and willing to work hard for the leads.
Life insurance agents have the option of becoming full time or part time professionals. To qualify as a full time or a part time professional, interested candidates need to take a course for a stipulated number of hours. After the completion of the training, prospective agents need to clear an exam, to obtain the license to sell insurance in that state. After having substantial experience in the field, agents can attain respected designations such as Chartered Property or Casualty Underwriter. However, along with experience, agents are also required to take, intensive courses and examinations to be considered for such positions.
Life insurance agents usually do not adopt the door-to-door method, to sell their policies, but use various methods of marketing to conduct their business. They have to generate leads through different sources and need to be on the look out for prospective customers all the time. This involves a lot of hard work and dedication to the chosen industry. Life insurance agents need to be able to quickly understand their prospective customers requirements and sell the right kind of product to them. Unethical practices and wrong selling will not help the agentsx92 business in the long run. Therefore, becoming a life insurance agent has many lucrative benefits, provided the interested person is willing to work for it.
The process of posting a bail bond involves a contractual undertaking guaranteed by a bail agent and the individual posting bail. In such case, the bail agent provides a guarantee to the court that the defendant will appear in court each and every time the judge requires it. Hence a bail bond is an obligation signed by those who have been accused of a crime to secure their presence at the court when summoned.
The bail agent charges a percentage of the bail amount from the defendant for this service. So, one advantage of the bail bond is that this obligation ensures that the accused will lose money if he or she does not appear for the trial. The defendant or someone related to the defendant contacts the bail agent to arrange to post bail, resulting in the release of the defendant. Usually, a relative or a close friend of the defendant will post bail and co-sign. However, the co-signer or the person contacting the agent for the bail bond must guarantee to pay the full amount of bail if the defendant does not appear in court, before the bail bond can be posted.
Sometimes the bail agent does not require collateral to post the bail. A person can be bailed out from jail with a signature of a friend or a relative. However, co-signers typically must be employed and must either own or rent a home in the same area for some time. After the agreement is signed, the bail agent posts a bond for the amount of the bail, to guarantee the defendant’s return to court.
The co-signer holds a lot of responsibility when entering an agreement with the bail agent, in that if the defendant fails to appear, the cosigner is immediately responsible for the full amount of the bail. Also, if the bail agent searches for and then finds the defendant, the cosigner is again responsible for all expenses the bail agent has incurred in the process.
In some states, the court allows the release of defendants after they pay ten percent of the bail bond amount directly to the local jail or court. But this is only in certain cases wherein the defendant cannot raise the entire bail amount at one time. However, in other states, defendants can arrange for the whole bail amount through a bail bondsman.
But in this case the defendant or the co-signer needs to sign over a collateral. The process is then similar to that of the other bail agents. The collateral is returned to the defendant after the court summons are finished and the case is closed. This indicates that the bail bond is discharged.
Software has made it a lot easier to deal with bail bonds. These types of software use switchboard-style menus, which make them quick to learn and easier to use. The most popular software being used currently is the BBS or Bail Bond Software.
BBS is very user-friendly software that has only two data input forms, “clients” and “Bond”, as well as a popup account ledger form that is used for data entry. The software constitutes of drop-down and phone directory style lists that enable quick and easy selection of client and bond records when they need to be modified. All the client records can be retrieved easily as required. All reports and formal letters such as surety letters, delinquent letters, client statements and court and financial reports can be generated at the click of a mouse button.
The phone directory style list allows for quick selection of client or bond records to edit. The software provides selectable lists of active, inactive, or all bonds or clients. Alphabetical buttons further narrow the list and ease the selection process.
Navigation through BBS data entry and editing can be done using only the keyboard, only the mouse, or with a combination of the two input devices.
Another software option is the LexBail software program. One major advantage of this software is that it is provided free of charge to Lexington National agents. This software program was developed specifically for the bail bond industry and is continuously updated.
The LexBail software allows agents to run their complete business. This software includes tracking powers and allows you to find bonds written, forfeitures, collateral, total co-signer exposure, premium payment plans, commissions for subagents, remissions, and regulatory reporting. LexBail software is customized for the bail industry to manage and electronically store bail bond records, handle premiums, and more. The only disadvantage of the bail bond software is that it does not run on Macintosh, Linux, Unix, OS2, or any other non-Microsoft Windows Platforms.
In some states, only licensed “Bail Agents,” who specialize in bail bond underwriting and issuance can post the bail bonds. These bail agents act as the appointed representatives of licensed surety insurance companies.
The respective departments for insurance, in each state, regulate and provide the licenses to the bail agents. The agents applying for license must be at least 18 years of age, be a resident of that state and a citizen of the United States. They must have sufficient financial resources to comply with the procedures, unless the individual is only an agent for a corporation holding a license. The agent must have at least one year of continuous work experience in the bail bond business and must have completed at least eight hours of continuing legal education in criminal law or the bail bond law courses that have been approved by the State Bar. The bail bond agent must have had this experience at least two years before the application for the license is filed.
The license number of every licensed bail bond agent must appear in all the possible advertisements such as yellow pages or telephone book advertisements, billboards, newspapers, magazines, and other widely distributed media publications. It is not required that agents provide the license number on business cards.
Cashier’s checks and certificates of deposit can be used as security for a bail bond license. The original checks have to be delivered to the board along with the application. These checks are deposited into the bond security account.
Bail bond agencies must renew their licenses every year, as the Department of Licensing does not prorate agency fees. Also, the agency is responsible for all the bail bond agents working with them.
Usually, the defendants or the relatives of the defendants make bail bonds prior to a trial. The bond is just to ensure that the defendant appears in court when the judge summons. Professional bondsmen charge a fee, usually 10% of the bond amount, depending on the percentage of the bond set by a judge.
All the surety companies must file their rates with the Department of Insurance. All the bail agents representing a particular company must charge only these filed rates. The rate chart is required to be posted in a visible location in every bail bond office.
When a bail bond is issued, the bonding company has to guarantee the appearance of the defendant in court at a given time and place. The bond protects the Government entity in whose court the defendant has to appear. In the event the defendant fails to appear, the bond amount becomes payable and is forfeited as a penalty by the surety insurer issuing the bond. Hence, bail bonds usually insist on collateral to protect the surety.
Licensed bail agents, who specialize in their underwriting and issuance, must issue these bail bonds. However, bail agents can only be the appointed representatives of licensed surety insurance companies. It is important to deal only with a licensed bail bondsman employed with a licensed company. Please ensure that the agent’s license and state identification are checked before committing to any agreement with the agent or the company the agent represents.
The auto repair quotes that you get for your automobile vary with the service provider. There are many auto service providers who are happy to give you auto repair quotes. You can either get them from the service provider in your locality or from the leading auto repair company in your area.
Before getting a quote, make a preliminary list of repairs that need to be done that you know of. If you are not clear as to what you need, you may end up spending wasted time and money of what could have been just a simple repair. Go to your local mechanic for quotes before deciding on where to take your automobile. They will give you an idea as to exactly what expenses are involved, and what repairs are critical, as opposed to not necessary. You may decide to stick with your mechanic or go to a dealer for repairs. Whatever you decide, you’ll have valuable information in your hands regarding the repairs that need to be done, and what one mechanic would charge to do the repairs.
There are also free checkup camps that are held at major car dealer manufacturers. Here, your car will be evaluated for problems at no charge to you. If problems are found, these events may even offer discounts on parts and repairs that you can take advantage of. They will also give you repair quotes that you can pass on to a repair shop.
If you know what is the kind of repair that is needed for your car, then you can get auto repair quotes online on websites dedicated for autos. All you have to do is type in information about you and your car and what repairs need to be done. You will receive instant auto repair online quotes. You can get auto repair quotes from multiple vendors and compare them to get the best deal.
Auto repair advice gives you simple and practical solutions for questions regarding your vehicle. There are numerous web sites providing comprehensive information on auto repair. These sites also feature links to auto repair service centers, shops and garages near your place.
You are given instruction on auto parts and their functioning. Online advice resources provide the service of experts who pinpoint the exact cause and suggest possible repairs before you visit the shop. You can even post car care or repair questions on their message boards. Car owners and mechanics exchange advice and help through these forums. Auto repair advice given on these sites is often free of charge.
Auto repair advice is sometimes provided in manuals given along with your vehicle. Whether opting for online advice or depending on repair manuals, the vehicle owner should have a clear understanding of the terms and techniques involved. In case you are taking your vehicle to a service centre, a written estimate should be sought and the history of the shop should be checked out with the Better Business Bureau. One has also to check whether the repairs provided have any guarantees. If so, get the details in writing.
It is important to verify whether your car is still under warranty before venturing to repair the car yourself. For cars under warranty, the repair work must be performed by a mechanic or a technician certified by the manufacturer. The repair in this case is usually carried out at the dealer’s service center. Some manufacturers do not offer to perform repair work and you may have the provision of carrying it out elsewhere. Read your warranty carefully to find out how you can get the repair costs reimbursed.
You can get repair advice from mechanics and experienced persons in the automobile industry. Repair advice is given for almost all models and types of vehicles, whether domestic or imported.