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Young drivers forced to pay ’sky-high’ premiums for car insurance

Young drivers are paying substantial premiums to insure vehicles which has resulted in many teenagers failing to insure their cars.One learner driver was very surprised when he received a quote from one pricing his cover at a staggering £17,000 to insure his £2,000 Vauxhall Corsa.

James Hayes, a student turning 17 next week, saved for a long time to be able to afford his one-litre car but has been stunned at the high quotes for car .

James’ case highlights how insurers are increasingly using impossibly high premiums as a weapon against young male drivers.

The scarce availability of reasonably priced being offered to young drivers is being blamed on an influx in uninsured drivers, which causes the cost of cover to increase for others and leads to further drivers dismissing all together. <

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Insurers hold death benefits for more profit

Life insurers are facing broad criticism for profiting from the death benefits of soldiers and other life insurance policyholders even after a claim is supposed to be paid.  Insurers are using so-called “retained benefit accounts” to hold onto payments they owe to families of deceased policyholders. They deposit the funds in insurer-controlled accounts, rather than transferring the payment to a bank or issuing a check to beneficiaries. The practice allows the insurer to hold onto money and continue earning interest on funds they are otherwise required to pay out as claims. Policyholders are told that their benefits are safey tucked away, and they’ll get interest payments in the meantime. Read more…

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LV= makes speed camera / accident link

New research from LV= suggests motorists behave erratically when confronted with speed cameras, typically slamming on the brakes or looking at the speedometer as soon as a camera comes into view.

Eighty-one per cent of respondents to the insurer’s survey admitted to instantly looking at their speedometers, instead of the road, on detecting a speed camera and one in twenty admitted to braking suddenly, risking losing control of their vehicle or a rear-end shunt.

The insurer estimates that at least 28,000 road accidents have been triggered by the cameras since 2001 and nearly one in three motorists questioned said they had witnessed an accident or near miss as a result of other drivers’ erratic behaviour when faced with one of the cameras.

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State Regulators Can Often Do Little To Control What Insurers Are Charging

WASHINGTON — As Americans struggle with double-digit hikes in their health insurance bills, millions are coming up against a hard reality: the state regulators who are supposed to protect them can often do little to control what insurers are charging.

In many states, it is the insurance industry that largely control the regulatory process, funneling money to key state lawmakers and squelching efforts to expand government oversight of premiums, a review of state regulations and campaign donations shows.

“The pressure that the industry can bring to bear in state legislatures is unbelievable,” said J. Read more…

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Term Life Insurance Advantages And Disadvantages

Term life is oh so loved my many people. There are many different types of term and very many reasons why people buy these policies. There are significant advantages to owning this type of life . There are also a few disadvantages.

Advantages

1 – The premiums are usually quite inexpensive whether you buy your policy for the short term or for longer periods like 20 or 30 years.

2 – The more popular policies have level face amounts, they never decrease.

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How To Find The Best Life Insurance Companies

One of the hardest things to have to consider about life is death. How to prepare for it, deal with it, cope with it and how to ensure our loved ones are protected when we die is the whole reason behind life insurance. At any point in our lives, the expenses we have always need to be paid. When someone dies, that adds a huge burden on the expense list as their funeral and other associated costs have to be covered. But that’s only the tip of the iceberg when it comes to coping with the situation. How can we choose the best life insurance companies to ensure not only are those expenses covered, but other expenses as well?

Not only are there expenses involved with a death, such as caskets, burial plots, funeral home arrangements, etc. b

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