Everyone should have life insurance. There is a lot to learn in order to ensure that your policy is effective. This may cause confusion about where you should start.

Make sure you don’t get too much or too little life insurance. It can be difficult to determine how much you should get, but in the end, it can save you and your loved ones grief. Consider future costs such as sending your kids to college or paying off your mortgage when determining how much life insurance you need.

Prior to purchasing life insurance coverage, you should consider giving up smoking. Those who test positive for tobacco have much higher premiums than those who do not. If you smoke and need life insurance, quit right away.

Choose an independent broker instead of someone associated with an insurance company. Independent brokers are usually more knowledgeable about various companies, and their opinions are less biased.

Unless you truly do not have another choice, stay away from “guaranteed issue” insurance plans. These policies are tailored to people with pre-existing health conditions. Getting a guaranteed life insurance policy does not require you to get a medical exam. You will have to pay higher premiums though, and the coverage may only be available for limited amounts at face value.

When you are setting the terms of your life insurance policy, it is helpful to have a clear idea of your family’s medical history. If your family doesn’t have any major genetic defects, insurance companies may give a lower rate. They also take your personal history into consideration when calculating your rate for life insurance. When your history is good, your rates will be good, as well.

Your life insurance premiums can go up if you decided to skydive, bungee jump, or scuba dive in your spare time. Certain occupations are considered high risk and your premiums will undoubtedly reflect that fact.

See if you are eligible for a life insurance policy through your employer. It can be more cost effective to obtain life insurance through your employer. In addition, there are many employers who are willing to match or contribute to your insurance payments. Check the fine print, however. Pay special attention of what happens to the life insurance policy if you are laid off from your job.

Talk to your beneficiaries as soon as you purchase life insurance. Make sure they understand exactly what benefits they get upon your death. Give your beneficiary the details about the policy, such as the amount, a copy of the documentation, and details about who to contact if a claim needs to be made.

Determine the lifestyle and needs of your family when trying to figure out how much life insurance you should buy. Each member of your family will have their own particular needs that will have to be taken care of if a death in the family occurs. You should ensure that you have enough coverage to pay for your loved ones’ expenses if the unthinkable happens.

Observe a healthy lifestyle, and stay as healthy as you can. When shopping around for life insurance, non-tobacco users, who do not have any major health problems, pay much less for their life insurance policies,d than those with health problems or who are tobacco users. Making your health a priority can end up being very cost effective.

Now that you have all of this information appended to your knowledge-base, you can choose life insurance with a far higher confidence level and prepare yourself for the road ahead. Your ultimate goal is to gain as much knowledge as you can in order to save the most money on a policy that will give you the coverage that you want.

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Before committing themselves, individuals in debt who wish to make use of the services of a debt management firm should do research. A debtor’s interest can be harmed by an unscrupulous debt management in many ways so make sure to keep the following 4 things in mind before hiring a debt management firm.

Any agency that calls you by phone or sends you spam should be avoid. There are a lot of debt management firms that advertise in the yellow pages or on the Web but do not over-aggressively solicit clients. Therefore, there is a good chance any company which does so is not on the level. Most of the time, solid references will not be provided by debt management companies that follow a cold calling policy or send unsolicited emails. Most of these companies do not even keep a reserve fund, which serves as a guarantee for the debtor that his creditors will be paid.

Better service are not necessarily offered by non-profit agencies. First, not all non-profit debt management firms offer their services free; some firms charge up to 15% of the debt amount. Just because it is a non-profit organization does not mean that it is a better debt management firm and a more efficient service provider than those that charge for the services. In fact, companies charging for their service are under an obligation to free their clients of debt as efficiently as possible because they are making a profit from their work and their profitability is directly linked to their credibility and reputation in the market.

You should never part with credit card information on the phone. A reputed and honest debt management firm will never ask you to provide your credit card number or bank information on the phone. This is because they understand that callers can be impersonated; moreover, the increase in online frauds is reason enough for individuals in debt to be extra cautious when checking out debt management firms. Debt management companies will never ask a prospect or an existing client to part with sensitive information of any kind over the phone if they are acting in good faith.

If a deal is too good to be true, it probably is so don’t believe anyone who offers this kind of deal. Debtors would often come across debt management deals that promise to reduce their debt by half in short time. This rarely happens; however, the debtor does end up paying high fees and a substantial upfront amount to the debt management company. It is not a good idea if debtors are discouraged from communicating with their lenders even though this happens in some companies because it invariably leads to a negative impact on the debtor’s credit rating. The claim should ideally not be taken at face value in case a debt reduction company promises to offer more than some interest reduction and counseling on getting out of debt and staying debt free.

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If you paid for defective goods or services on your credit card and the merchant will not resolve the problem, you can file a dispute with the credit card company using a procedure called, Claims and Defenses.

What EXACTLY are claims and defenses?

Claims and defenses are any valid reasons you have for not paying a certain credit card charge. They include billing errors, unauthorized charges, and claims that goods or services were misrepresented, defective, or not delivered.

There is a Federal Law that states the credit card company can potentially be liable for damages – this law is designated as 15 USC 1666i.

How do I assert claims and defenses?

You assert your claims and defenses by writing to the credit card company showing that you tried to resolve the problem with the store directly but they refused to remedy the problem. Advise them that no payment shall be received on the charges until a satisfactory resolution is achieved.

When asserting claims and defenses, are there potential limitations?

Yes. Claims and defenses can only be asserted if you had made the purchase in your home state, or within a 100-mile distance from your residence. There would also be limitations as to the amount of the charge disputed – it must be no less than $50.

In the case of credit card companies being connected with the establishment honoring the card (i.e. a department store has its own in-house credit card), the above limitation is waived. Likewise, this would also be true if you took advantage of a special offer on your credit card bill.

If the disputed amount has already been paid for on my last bill, is it still okay to raise claims and defenses?

No. You can no longer assert claims and defenses if you have paid the amount that is in question. You can still file for a claim, albeit a partial one, if you had only made a partial payment on the item under dispute.

Are claims and defenses valid for purchases that I had made via telephone?

Yes. In the event that an unscrupulous telemarketing agent charges your credit card for faux “vacation packages” or “hedge funds” or substandard-quality TV shopping-type items, then you have every right to assert claims and defenses and put the bogus charges on dispute.

If I placed a phone order to a company in another state, is it still possible to use claims and defenses procedures?

In the event that you were called by the company when you made the purchase, then the purchase did not happen in their area – rather, it happened in your state.

You have every right not to pay and to assert claims and defenses if you feel that the charge that transpired involved some form of subterfuge or fraud.

But in the opposite situation, assuming you were the one who called the company based in another state, then the purchase occurred in your location. This would not be one of the instances where claims and defenses can be filed.

Is asserting claims and defenses a time-bound process?

You would be allotted one year from the date of the purchase if you are filing a claim on the disputed amount. However, if the credit card issuer or the retailer sues you, you can raise your claims and defenses at anytime.

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