When buying life insurance, you may hear of the term “insurable interest”. An old concept that dates back many centuries, it emphasizes the need for life insurance to be purchased only by a person who has an insurable interest in the insured’s life. This allows individuals to purchase life insurance on themselves, their spouses and any dependents because the interest to safeguard and protect each other in the event of untimely death strongly exists in this case. Insurable interest can also be demonstrated in non-blood or non-marriage relations if the person receiving the death benefit would suffer a genuine loss if the insured died, an example of which includes business partners purchasing life insurance on each other. Established by law dating all the way back to 1882,  insurable interest is a … Read entire article »

Thousands of people get into car accidents each year. Some may even claim that you’re lucky if you only get into one or two accidents in your lifetime. Even though you may have injuries as a result of the accident, try to remain as calm as you can. Once you get into an accident, it is hard to focus on what needs to be done.  That is why it is best to know the steps you should take after an accident before it happens, so you can proceed with steps to make sure you’re protected as much as possible. Do not worry about how the other party reacts. Check your body and any passengers for injuries and call 911 as soon as possible.  You may find yourself shocked, in pain, and … Read entire article »

Most business owners take out some sort of business insurance policy that covers the stock. This can be a vast quantity of products that are at risk from theft and from the premises flooding or from fire. However, many of us renew our business insurance products without reassessing our needs. When you renew your policies it is a really good idea to double check that your requirements haven’t changed from when you first took out the policy. When you first set up these insurances your business may well have been brand new, you might not fully have appreciated how much cover you needed then, or perhaps your business has grown since then and you now have a greater throughput of stock which you need cover for. You may also have changed the … Read entire article »