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In the current economic climate, it can be difficult to avoid getting into some financial hot water. If that does happen, then there are options to alleviate the situation, not least the availability of unsecured loans with bad credit. Such loans can make a real difference, though when bad credit is a factor they are not exactly easy to get.

The issue is the innate attitude lenders have towards bad credit rating. Most banks and lending institutions prefer not to take on the risk, but there are many lending companies on the internet who will. And in any case, an unsecured loan to cover bad debt is one way to go about correcting the flaw.

With an unsecured loan with bad credit, this is precisely the advantage that the borrower is presented with, but the overriding question is whether the borrower is actually able to meet the demands of the repayment schedule. Approving a loan with bad credit that is unsecured, is hardly then something lenders will jump for overly enthusiastically.

So, the question is how an applicant can increase their chances of approval, even with a poor credit rating hanging over their heads.

The Small Details Matter

It might seem unimportant, but the fact is that even the smallest details given in applications are there to be taken heed of. A perfect example is the age stipulation, with applicants needing to be over the age of 18. There will be legal repercussions should they turn out not to be.

A second small detail is employment status, something that clearly has an influence over any decision to grant a loan. Clearly, being employed will improve chances of getting an unsecured loan with bad credit, but being self employed can actually be problematic.

The reason is simply that those who have their own business, shoulder the pressure to keep revenue up. The risk of a drop in revenue can be detrimental to repaying an unsecured loan with bad credit. On the other hand, an unsecured loan to cover poor credit could be confidently lent to an employee who is drawing a guaranteed sum every month.

Loan Term and Interest

Of course, one of the first things that should be checked out is the rate of interest that the lender is going to charge. Unsecured loans with bad credit tend to have higher interest rates associated with them because of the perceived extra risk. However, in the market the rates can vary quite a lot, so it is a very good idea to spend time looking at the various loan offers.

Take your time when seeking the best loan deals, and given that the search is online, there should be no problem in finding an unsecured loan with bad credit and offers real savings. So, make a list of the five or six best found, then consider the period. An unsecured loan to cover bad credit should not be lengthy, and the rate should be as low as possible.

Dig a Little Deeper

Compiling a shortlist of possible lenders is only part of the process. Next is to contact them directly to see what kind of offers are available on their unsecured loans with bad credit. It is sometimes possible to negotiate specific terms for your own loan. The new particulars for these unsecured loans with poor credit can be negotiated via online chat or email, or it may even be done over the phone.

There are many more steps that can help secure an application for an unsecured loan to cover bad debts, but these few listed above indicates the right direction to go in.

Joycelyn Crawford is the author of this article. For more information about Easy Loans for Bad Credit and Easy Home Equity Loan please visit EasyLoanForYou.com

Secured and Unsecured Personal Loans Explained

Some loans are used for specific purposes. Mortgages are used to purchase loans and car loans are used to secure transportation. Other loans exist for use with investments and other money-making strategies. All other loans are classified as personal loans. The use of funds from personal loans is at the discretion of the borrower. The money can be spent on anything from bill consolidation to a much-needed vacation. These loans come in two forms - secured and unsecured personal loans.

Putting Your Property on the Line

Secured personal loans do have some advantages over unsecured personal loans. When you offer valuable property as collateral to cover the cost of the loan, this provides security for the lender. Should you default on the loan, the lender has legal recourse to seize the property and sell it to cover the cost of the loan. With this security, the lender is more willing to offer lower interest rates and more comfortable repayment terms.

These advantages could mean saving hundreds of dollars in interest rates and fees over the duration of the loan. Collateral can take many forms. Many people offer their homes, others offer stocks and bonds; some lenders will even accept a late model cars as collateral. You will have to discuss what is acceptable with your prospective lender.

Getting the Cash You Need Without the Risk

These financially tumultuous times have made plenty of people a little apprehensive about the future. They may need cash, but they are unsure of the economic future and may be unwilling to risk losing valuable personal assets, such as a home or a car. Lenders realize this and are willing to grant unsecured loans. However, the only real guarantee the lender has on such loans is your promise and your signature. In light of that, the lender must do something to make the risk worthwhile.

That comes in the form of higher interest rates and higher fees. It may also mean the lender will limit the amount of money available for the unsecured personal loan. But with the economic future so unstable, the higher interest rates and fees may be an acceptable trade-off against losing valuable personal property. Also, removing the complexities of calculating the value of property offered as collateral, the unsecured personal loan process is much easier and proceeds much more quickly.

Shopping for an Unsecured Personal Loan

You are not going to find many traditional institutions, such as banks and credit unions, willing to grant unsecured personal loans. You may have seen local private lenders willing to make unsecured personal loans and you may use one of them after diligent shopping. You will want to find the best interest rates and repayment terms. Many private lenders have stepped in to cover the market that traditional lenders eschew. Their rates and terms vary widely and you can save yourself hundreds by shopping carefully.

One of the best places to shop will be availing yourself of online resources. Point you browser to Unsecured Personal Loan and you will find many pages full of lenders who may be willing to lend to you. You will have them all in one place to consider the best interest rates, lowest fees, and most comfortable repayment terms. Just be sure to check the credentials of each lender. Online listings found with the Better Business Bureau will grade lenders and offer valuable customer feedback. Be sure any page where you divulge personal and financial information is secure.

Hilary Bowman is the author of this article. She works successfully as a financial advisor with years of expertise on Military Loans for Bad Credit. Hilary publishes informative articles about Bad Credit Loans and other financial topics at FastGuaranteedLoans.com

Unsecured personal loans are becoming increasingly popular as a means to secure cash to finance home improvement projects, new business ventures or vacation property purchases. The advantage to using an unsecured loan is that, the loan is not subject to an asset that you own, for example, your home. When you take out a home equity loan or home equity line of credit (HELOC), the lender offers cash secured against your home. In other words, your house is collateral for the loan. If you default on the loan, the lender may be able to sell your house, to recover the value of the loan. With an unsecured loan, your credit history is your security. The lender is trusting you to repay the loan, based on your past credit history.

How much money can I get?

Financing is typically offered in amounts of $1,000 to $30,000. If you need more than that, for example, $50,000 to $100,000, you may find it difficult to get an unsecured loan. You will most likely need a loan that is secured against your home. It should be noted that, most lenders will only provide a secured loan, of this amount to a homeowner, who has a great deal of equity in their home. You cannot borrow more than the equity in your home. The rule is typically 60% loan to value (LTV). This means that you can borrow up to 60% of the equity in your home. If you have $100,000 worth of equity in your home, you can get a loan up to $60,000.

Another source for consumers, who need large loan amounts is to use the services of a hard-money lender. These lenders offer fast loans at high interest rates. The loan must be repaid in a short period of time.

What about my credit history?

Credit history is always an important factor, when securing a loan, whether it is an unsecured loan, home purchase or automobile loan. The fact is, your credit history is an indication of your likeliness to repay your loan, on time and in full. A person looking for an unsecured loan is most likely to be successful, if they have a credit score of 720 or higher. Some lenders will only lend to consumers with excellent credit and will not consider applicants with average or poor credit.

Will I be able to get a loan, if I have average or poor credit?

Yes. Some lenders service consumers, with varying credit scores - great, average or poor. The key to successfully navigating the process and getting the cash you need, is to research your options and explore various lending institutions and networks. For example, your local bank or credit union might not be willing to give you a loan, but another lender will work with you to secure a loan.

1. Select one or two lenders, who work with various credit types.

2. Determine the lender's loan application and approval criteria. Read everything carefully and ensure that you meet all qualification requirements.

3. Understand the loan repayment requirements. When will you need to repay the loan? How many months is your repayment period - 36, 48 or 60 months?

4. Lastly, complete your loan application truthfully and thoroughly. Your goal is to ensure that the loan officer has no questions regarding your application.

Get a $20,000 to $25,000 unsecured loan at http://www.pioneerlenders.com/. Consumers with good, average or poor credit can still get a loan.

The economic realities of life today have many people seeking loans just to relieve the financial pressure they are under. There is certainly nothing wrong with this, since loans provide immediate funds that can be repaid over time. But often unsecured loans are the only option, as opposed to secure loans.

It might seem that there is little difference between loans that are unsecured and secured when it comes to getting an application approved or rejected. The truth is that security can have a real influence over the decision by the lender, not only in approving it but in the sum granted in the loan.

In approving a loan without security, the lender leaves themselves more exposed than if they approved one with some form of collateral. This affects confidence which, in turn, affects interest rates and the sum that the lender is willing to lend.

Availability of Loans

That is not to say that it is impossible to get an unsecured loan that is competitive in its terms. It is true that secured loans are certainly more easily approved by the traditional lending institutions. But this is simply due to the inclusion of collateral, and the fact that the investment made by the lender is protected should the borrower default on their payments.

However, with loans that are unsecured, there is a stricter criteria applied to applications, especially when it comes to credit history and income. This is because they are the only factors to indicate the likelihood of a problem free payment schedule and, therefore, the only way to know if granting a loan without security might prove to be a costly mistake.

The Internet Option

With the internet now a central part of everyday financial and consumer business, there is a vast variety of lenders that can be approached for unsecured loans. These lenders focus their approval criteria on income and the ability to receive monthly repayments through an automatic payment scheme with your bank.

Collateral is less significant, partly because they are not a physical institution and claiming the item is more troublesome, and partly because their niche market is those who are likely to be rejected by the traditional lenders.

Most of their business then is issuing loans that are unsecured, and they are understandably more open to accommodating applicants with low credit scores. And while loans without security may have higher interest, they can also be approved within 24 hours.

The Loan Terms

It does not matter if your application is for an unsecured loan or secured loan. The terms that a lender is offering are the most important things in the whole transaction. The two principal terms to pay attention to are the interest rate and the repayment details, and for obvious reasons.

Knowing that both of these aspects are in your favor, with an affordable interest rate and schedule that is manageable, is essential before signing any loan agreement. That is why, when getting loans that are unsecured, it is important to shop around for the best deal. This is generally where the online lenders win out.

However, be prepared to accept higher interest rates when there is no collateral, and if the term is short, this might also be something to consider. Short term loans will take less time to clear, but the monthly repayments will be higher. So, it is worth considering unsecured loans that are long term, especially when the sum being borrowed is around $25,000.

Joycelyn Crawford is the author of this article. For more information about Easy Loans for Bad Credit and Easy Home Equity Loan please visit EasyLoanForYou.com

The world of finance has had a hardening of heart in recent years, with the process of securing loans and other forms of personal financing become stricter. There can be little surprise, of course, given the financial chaos that has reigned. But the idea that this has made large unsecured loans impossible to get is not actually correct.

True, there are definite conditions that must be met, as has always been the case, but with a little searching and some careful attention to detail, a large loan that is unsecured can be found.

What is particularly important is that there is a logical approach to the application, with no submission to the temptation of grabbing a cache of cash to finance high living. If anyone is to get approval for a large loan with no security, a mature attitude and a definite purpose needs to be shown to any potential lender.

A method applied to the application process can only be of great benefit to all parties involved, and there is a step by step approach that can be applied from even the initial steps to ensure the best chance of success.

Check Your Credit Rating

Before beginning any application process for a large unsecured loan, it is a good idea to first check what your credit rating actually is. This is a good starting point for a number of reasons. Firstly, it serves to arm the application with hard facts, and this adds credence to the whole matter. However, it also removes any chance of an unwanted surprise springing up, and injuring your status.

An application for a large loan that is unsecured, or even secured for that matter, has to start with a certainty over what it possible. Credit scores in the high 700s, for example, should be enough to get a large loan with no security. However, this is about 100 points more than was necessary 4 or 5 years ago.

Know What is Too Much

This is where maturity comes into play. Seeking a large unsecured loan is perfectly fine as a way to cover debt, but it is tempting to seek more than is necessary so as to provide enough to purchase a few luxury items, or perhaps just enjoy life for a bit. But the reality is that the loan must be repaid, and to go beyond what is affordable will replace financial difficulties with financial difficulties.

If debt is calculated as $20,000, then there is no need to seek a large loan that is unsecured that is more than that. Between the monthly repayments and the fact that bills will continue to arrive in the mail, it would be foolish to borrow too much. And a large loan with no security comes with no shortage of pressure.

Be Realistic

Any large unsecured loan needs to be repaid and for that simple reason, it is vital that realism is a core aspect of the process. If an applicant seeks beyond what is affordable then the risk is that financial difficulties are simply replaced by new financial difficulties.

Of course, it depends on the purpose of the loan in the first place, and given that some might be used to set up a small business, the extra earnings can compensate the extra repayments a large loan that is unsecured can have.

Get the Right Lender

Finally, it is essential that the right lender is found too. Remember that repaying a large loan with no security, perhaps as large as $25,000, is long term investment. So, having an understanding with the lender is important should a future economic situation dictate the need to restructure repayments.

Also, knowing that the lender of such a large unsecured loan is also completely legitimate is vital too. Never hesitate to check the lender out, just to be sure.

Donna Hammond is the author of this article. For more information about Bad Credit Unsecured Loan and Mortgages for Bad Credit please visit her website at QuickBadCreditLoans.com

While it is true that the current economic climate has left many of us with debts and bad credit rating, the situation is not beyond retrieval. Debts might be mounting, but an unsecured loan can provide the funding required to clear that debt and restore some stability to your finances. The trick is to get a loan that is large enough to accomplish that.

Many people have the idea that the only way to have a loan application approved is to look for a modest amount. But the fact is that even a loan without security can be more than just a couple of thousand dollars, allowing the borrower to alleviate the financial burden.

Of course, a large personal loan that is unsecured is a loan that is approved without any collateral. This is where the confusion tends to occur, with the absence of such security logically preventing any lenders from granting any major loan sum. But, there are other ways to secure a large loan.

Take the Online Option

With traditional lenders reluctant to commit large sums to unsecured loans, it can be very difficult to source the funds. However, the internet now features dozens of lending companies who are willing to provide significant personal loans to individuals, even if they have financial difficulties.

The online lending market is slightly different to the traditional one in that most of the lenders are targeting those who can expect to be rejected by the banks. Issuing loans without security to borrowers who are eager to rebuild their credit rating is seen as a justifiable risk.

However, it is important that before signing up to any personal loan that is unsecured the particular lending company is checked out. Consult the Better Business Bureau, which has information on every company set up in the USA.

Back Up Your Pitch

When speaking to lenders about an unsecured loan, it will be necessary to pitch the idea that they can trust your intentions. It is important that they know what the loan is for, so being able to provide detailed financial information is important. Bringing the backlogged utility bills, the medical bill that came unexpectedly and other necessary expenses will show that your motives are fair.

Of course, they will also need to know your credit history, and while they can easily gain access to it themselves, they will prefer to hear your explanation. It is not a good idea to fail to divulge this information when applying for loans without security. Being ready will impress the bank, however, and greatly increase the chances of getting a personal loan that is unsecured.

Patience is a Virtue

Despite the fact that large unsecured loans are there to access, it is not a simple matter. Some searching will have to be done, which is why turning to the internet is a good idea. However, ruling out the more traditional sources of personal loans that are unsecured is not wise either.

Not only that, but the terms of the loan have to be good, otherwise the attempt to lessen the financial burden will backfire. Comparing options is a good way to assess which one is best, but it is important not to take the first option that becomes available.

There no denying that loans without security will come at a higher interest rate than secured loans, but there are other factors to consider too. It is vital that the amount of income free to cover any unsecured loan repayments is known, and that it is adhered to.

After all, it is only through meeting every monthly repayment that the quest for a improved credit ratings will be achieved.

Joycelyn Crawford is the author of this article. For more information about Easy Loans for Bad Credit and Easy Home Equity Loan please visit EasyLoanForYou.com

Losing a job can have a demoralizing affect on a person, not just because of the sudden loss of income and the need to pay bills but because it is often accompanied with concerns over the ability to find employment elsewhere. If the severance pay is not particularly high then an unsecured loan may be the only option. But without a job, there is uncertainty over that too.

It can come as something of a relief then to learn that unemployment does not rule an applicant out of a loan, though it is obviously a factor that is part of the assessment process. Approving loans without security is always a risky business for lenders, but the fact is borrowers who have lost their jobs are not necessarily high risk.

In any case, whether a person is applying for loans that are unsecured or secured, there is a process that allows everyone to be considered, with some lenders willing to approve such loans to those who are without a job.

Realistic Loans

As is always the case when applying for unsecured loans, an applicant needs to accept that they will have to pay a higher interest rate than normal. The reason is simply the perceived greater risk that the lender is facing, with a lack of collateral meaning that there is no certainty of recovering any losses.

When the applicant has no job, the risks involved are understandably higher, so the interest is too. But this should not put anyone off the idea of getting loans without security.

In actual fact, the view of the lenders, especially when the unemployed applicant has a good credit history, is that a loan that is unsecured can play a big role in helping them back on their feet. It is, therefore, a long term investment from their point of view.

Bad Credit Too

It might seem that, should the applicant have bad credit as well as no job, it would only compound the problems they face. But, just as there are lenders that are willing to accept the added risk of approving unsecured loans to those with poor credit ratings, the lack of a job can also be accommodated.

Online lenders in particular are open to the bad credit niche market, with the understanding that many applicants are seeking an opportunity to improve their credit scores. Through loans that are unsecured they can achieve that, while the lenders charge that little extra in interest. The term of loans without security can be quite long, to suit the particular needs of the borrower, but remember that this does mean that more interest is paid over the life of the loan.

Do Not Over Extend

Something that should be avoided when seeking unsecured loans is over extending by seeking too much. With a job lost, the first thing that has to go is the luxurious lifestyle, with many home comforts having to be sacrificed. The temptation is to seek funds to restore the good life, but it is more likely to create further financial headaches.

Applying for loans without security does mean the loan sum will be limited, and without a regular income it is further restricted. With good prospects for finding work again, a large sum is possible, but the trouble lies with meeting the repayments until a new job is secured.

Getting an unsecured loan when unemployed is certainly not a problem, but the long term impact of having a loan repayment to make each month needs to be factored in before applying for one.

Donna Hammond is the author of this article. For more information about Bad Credit Unsecured Loan and Mortgages for Bad Credit please visit her website at QuickBadCreditLoans.com

Big Loans for Big Needs

Financial indicators are down, financial indicators are up, financial indicators are not going anywhere. It is hard to tell what is going to happen with the American, or the global, economic situation. The only thing sure is that the global and American economies are in some turmoil. Folks are having problems managing their money and facing some difficulties at borrowing. Though they may need the funds for a variety of reasons, people are afraid of staking their personal assets, such as their homes, when it comes to borrowing the funds to get them through a financially difficult time. However, with a little careful shopping, unsecured personal loans for $20,000 can be found.

Assessing Your Need

The first thing you will want to do is consider your debt load. You will need a good credit rating and a reasonably good income to land such a loan; you will also need to have the wherewithal to pay it back. Do a thorough assessment of your budget and how much you can afford to pay after all your necessary obligations are paid off every month. Do you have enough left over to handle an unsecured loan for $20,000 or thereabouts. Even though you may be taking the loan just to smooth out your finances for awhile, the debt can further debilitate your financial situation unless you are sure you can handle the additional obligation.

Increasing Your Ability

Unsecured loans for $20,000 are not readily available to folks with poor credit ratings or high debt loads. Though most folks with a good credit rating and a low debt load will not usually have a problem finding a lender willing to accommodate them, sometimes having a co-signer will smooth the whole process. Anyone with a decent credit rating and a plausible income - your wife, your brother or a friend as a suggestion - can help you further in acquiring an unsecured loan for $20,000. A good credit history, a low debt load, and a cosigner will all ensure that interest rates are low and that terms of repayment are comfortable.

Using Your Unsecured Loan for $20,000

Many loans are designed for specific purposes. Mortgages are used to purchase homes. Car loans are to assist in the purchase of transportation. Other types of loans are geared for investment purposes and others for any variety of reasons. However, a personal unsecured loan for $20,000 can be spent at the discretion of the borrower. Loan consolidation, rolling a bunch of pesky loans into one package, is a very usual purpose. But home improvement, big-ticket purchases, starting a small business, or even a financing a much needed vacation, are all within the ken of the borrower.

Interest Rates and Repayment

Of course, you will want to shop around to find the lowest interest rates and the most comfortable repayment terms for your unsecured loan for $20,000. Lower monthly payments will mean that the loan will extend over a longer period of time which means you will pay more in interest. The best way with any loan is to have monthly payments as large as comfortable to cut down on the duration of the loan. This will result in less money spent on interest. It is all about trade-offs.

Sarah Dinkins is a financial advisor who has been associated with Unsecured Personal Loans since long ago. She also holds a master degree in economics from Harvard University. To find home loans with bad credit and other financial products visit BadCreditFinancialExperts.com

There is a definite school of thought that the worse your credit history, the closer to impossible it is to get an unsecured loan. It does make logical sense that lenders will stay clear of individuals who do not have a good credit history, but the fact is that loans are available. Yet, perhaps the source of considerable surprise is the fact that there are even loans for high risk borrowers available too.

The difference between someone who has bad credit and someone who is high risk is simply the extent of the bad credit rating. A person who has not made repayments regularly on an existing loan, or who defaulted completely can have a bad rating. A high risk borrower, however, has no possessions of any great value, no home and no car, factors that should make them the last candidates for unsecured high risk loans.

Loan Entitlements

There is little chance that any lender will have an open ended range of unsecured loans for anyone, never mind someone who is considered high risk. The loan limit is strictly adhered to, with a maximum of $25,000 and a minimum of $1,000 available. Even on a low income, this type of loan is affordable because the repayments can span up to 25 years.

There can be no surprise at all that the interest rates of loans for high risk borrowers are higher than for regular loans. This is simply because of the higher risk that is involved, but it is worth noting that there are enough lenders competing in this niche market that it is possible to find an unsecured high risk loan with a good deal too.

Small Loans over Short Periods

The secret to being successful in applying for these unsecured loans is to show restraint with the amount that is sought. While the primary motivation for getting such a loan is the need for extra funds, borrowers also know that this is an opportunity to begin to rebuild their credit rating. For this reason, lenders are willing to take the risk, but they are much happier if loans for high risk borrowers are kept low, perhaps a low as $3,000.

Crucially, however, the terms of repayment must suit the borrower. The amount per month must be low enough to not add any further financial strain, and to ensure the payments are not skipped.

However, unsecured high risk loans should not be spread over too great a period either, because regaining credit rating can only be achieve by successfully repaying the loan in full. The more it takes, the slower the progress.

Making a Application

Once again, it is the online lenders that are happy to issue unsecured loans, but the size of this market has ensured that there are many options available to the consumer. And because there are so many lenders that offer these loans, consumers can compare rates and make an educated decision on which unsecured high risk loan is right for them.

It would seem that loans for high risk borrowers should be complex, but completing the application could not be easier. Within minutes, an applicant can have filled out the online form, providing all of the relevant details, and with a 24 hour processing period, an unsecured loan can be approved and accessed very quickly.

Mark Venite is the author of this article and a successful financial advisor with 20 years of experience. He helps people to get approved for Bad Credit Personal Loan and Student Loans with Bad Credit. For more information about his services please visit him at AccessMyLoan.com

Going to a traditional lender and seeking a large unsecured personal loan seems like a story of daring do at a time when banks are tightening their belts. A small loan can be difficult enough to get approval on, especially when bad credit history is a factor and no collateral is being provided. So, the chances of a large unsecured loan being given the green light seems like wishful thinking.

However, the truth is that loans that are unsecured, even large ones, are still available despite the fact that bad credit is a part of the equation. It may not be a simple case of walking into a bank and speaking kindly to the loan officer there, but it can be done.

What is essential is that the applicant understands the requirements and how they can maximize their position to get a large personal loan approved without security. There are some points that should be taken note of

Significance of Income to Debt Ratio

The first mistake that is made is to think that bad credit is the factor that takes large unsecured personal loans out of reach. While the credit rating of an applicant is certainly looked at, there are more significant aspects, such as the income to debt ratio.

The income to debt ratio refers to the percentage of an income already used up by existing debts and obligations. So, if a monthly income is $5,000 and obligations account for $3,500, that means there is a share of income available to cover any new debt. The problem is that not everyone has enough excess income, and loans that are unsecured offer the minimum of security to the lenders.

In this light, a large personal loan approved without security is only possible if the applicant has plenty of extra cash to spare. It may be less of a problem should the purpose of the loan be to consolidate debts, since the loan will clear much of the existing debt.

A large unsecured personal loan does need to be carefully budgeted for, but even if the credit history is poor, enough excess income will be viewed as favorable.

Meeting the Criteria

Of course, failing to meet the basic criteria for a loan is going to work against an applicant for any type of loan. However, by getting everything in order, the chances of successfully applying for a loan, even a loan that is unsecured, increased dramatically.

In essence, it is about getting the paperwork done. Lenders, even online lenders, will require a government issued form of identification, proof of employment, proof of residency and a social security number, if any application is to be considered seriously.

However, to improve the chances of getting a large personal loan approved without security a definite pattern of repayments is very beneficial. For example, even getting a small loan and repaying it before time goes into the credit record, improving the rating.

What this means is that even repaying a loan of just $500 can make a difference. Graduating to larger loan sums then extends the improvement, with the rating improvements also increasing. In this way, a large unsecured personal loan becomes more acceptable.

Get The Figures Right

When applying for any loan that is unsecured, it is necessary to ensure that the calculations are right. It is the only way to ensure that no problems will crop up in the future. In order to get a large personal loan approved without security it is necessary to convince the lender, not just ask. Showing clear numbers shows that careful consideration has been given to the idea.

With facts, figures, clarity of purpose and all of the documentation is order, an applicant has every chance of seeing their request for a large unsecured personal loan being approved.

Joycelyn Crawford is the author of this article. For more information about Easy Loans for Bad Credit and Easy Home Equity Loan please visit EasyLoanForYou.com

Many people seek some way to escape the current financial quagmire, with a unsecured loan with bad credit the most logical escape route. The problem is that they are not so easy to get these days. Traditional lenders have become more cautious than ever, the criteria has become stringent, and the sums now lent are falling. This is not a good time to seek a loan.

But, having said all of that, getting a loan, even loans with bad credit that are unsecured, is not an impossibility. They are available, and for those who meet the right set of criteria, they are not so difficult to get approval on. The truth is that lenders are willing to take the risk, but only with the right applicants.

Of course, with the financial turmoil of recent years, the playing field has change a little. Traditional lenders, like banks and credit unions, have taken some serious hits in the market, and their attempts to recoup these losses has seen greater caution being applied. The idea of issuing unsecured loans to those with bad credit sends shivers down their spines, but there is still a chance they can be convinced.

The Right Criteria

The basic method of convincing lenders that they can trust an applicant for an unsecured loan with poor credit is to have all of the necessary documentation in order. Banks, for example, will require items like proof of income, proof of residence, proof of age and an accurate credit rating. The bank will check the credit rating but quoting yours, especially if it is low, shows an openness and honesty that can be taken positively.

When it comes to getting approval on loans with poor credit that are unsecured, the lender will want to know exactly who it is dealing with. Any confusion or discrepancy is likely to result in immediate rejection. So, taking the time to ensure everything is in order is a good thing.

With online lenders, the important facts like bank account, credit card and proof of income, still apply when considering if they should approve unsecured loans to those with bad credit.

The Right Lender

Of course, who the application is made to makes a big difference too. Many mainstream banks will not issue unsecured loans with poor credit because of the combination of bad credit and lack of collateral. However, they will consider an unsecured loan with good credit, or a bad credit loan with security.

There are banks and other lending institutions willing to take the risk of approving loans with poor credit that are unsecured, but they usually include higher interest rates and strict conditions, effectively lessening some of the loan benefits.

Of course, providing security of some kind makes the whole process much easier to get approval from, with unsecured loans to those with bad credit effectively a shot in the dark for lenders. The addition of security allows the lender a chance to recoup losses, if the borrower defaults.

Online Solution

However, an online lender tends to win out in this situation. The rate of approval for unsecured loans with bad credit are generally higher, mainly due to a greater level of trust in their applicants. The cornerstone of their success is to offer something different to regular banks, but they still require confirmation before approving unsecured loans to those with bad credit.

Another positive point is that loans with bad credit that are unsecured can be approved in a very short period of time, helping to solve any financial emergency. And given they operate online, the interest rates are highly competitive despite the risks traditionally associated with unsecured loans with bad credit.

Mary Wise is a personal loan consultant who has been associated with Guaranteed Bad Credit Personal Loans and has more than thirty years of experience in finances. She has helped a lot of people to obtain Bad Credit Home Equity Loan, and many other products regardless of their credit situation. If you want to learn more about Personal Loans you can visit her at BadCreditLoanServices.com

The internet has become as important a source of loans and mortgages as traditional banks. For consumers, searching the internet allows them the opportunity to compare the widest possible range of loan deals, an ability that comes in very useful for those seeking unsecured loans with bad credit.

The rate of application success amongst people with poor credit ratings is much higher online than it is with regular banks. This is mainly due to the fact that online lenders have tailored their products to capture the market that banks tend to avoid, making unsecured loans with bad credit amongst the most common loans to be approved.

However, this is not to say that there is no criteria when it comes to loans for those with poor credit. The bottom line is that if an applicant wants to get a loan, there are boxes that need to be ticked and achieving that should be a priority.

Universal Basic Qualifications

Every lender wants to lessen their chances of suffering losses, and the best way to do so is to set criteria for applicants to meet. When it comes to applicants seeking unsecured loans with bad credit, this criteria is essential. So, it is only logical to conclude that meeting that criteria will result in the loan being approved. The fact that they are rather straightforward, at least to begin with, is a good thing.

Proof of Age

It is illegal for lender to provide any form of loan, whether unsecured loans with bad credit or secured loans, to anyone who is under the age of 18. So, proof of age, whether for a loan to those with poor credit or excellent credit history, needs to be produced before an application can be approved. Banks generally seek a drivers license or passport for this purpose, but online lenders also need such documentation, and request a scanned document to be sent to them.

Proof of Employment

It stands to reason that lenders want to know that the borrower is able to make the monthly repayments, so proof of employment is usually very important. Applying for a secured loan with collateral provided as security ensures a strong chance of success, but applying for an unsecured loan with bad credit has a weak chance. Proving that the repayments can be paid is the only thing that could convince the lender to approve the loan.

Proof of Citizenship

Finally, the third criterion is that the applicant is a citizen of the US, or is at least a legal resident. Handing out a unsecured loan with bad credit to someone who could leave the country at any time, and not return, is generally viewed as unwise. As a citizen of the US, the applicant is much more likely to continue living in the country, so issuing a loan to those with poor credit is safer.

Overcoming the Bad Credit Issue

Having a low credit score is not a good enough reason on its own for any application for an unsecured loan with bad credit to be turned down. In fact, the bad credit rating is used to set the interest rates and other terms of a loan. So, if the three key criteria above are met with, then the chances of getting the loan remains very possible.

Every applicant should keep this fact in mind, and make sure they know their own score, since asking for too large a loan can seen the application fail quickly. After all, issuing a very large loan to those with bad credit is definitely not going to be acceptable.

However, it is equally important to note that, with the necessary documents in order, principal criteria met and the loan application in order, then getting an unsecured loan with bad credit is certainly not impossible, especially from online lenders.

Mark Venite is the author of this article and a successful financial advisor with 20 years of experience. He helps people to get approved for Bad Credit Personal Loan and Student Loans with Bad Credit. For more information about his services please visit him at AccessMyLoan.com

Unsecured personal loans allow you the luxury of financing your personal expenditures without running the risk of jeopardizing the possession of your home. Employ the following advice in order to obtain an unsecured loan and remove your property from the risk of repossession.

What is the need for unsecured personal loans?

In cases when your house is the sole property that you possess, it is undesirable to put it at any risk. That is exactly what is bound to happen if you incur some unprecedented expenses and you have no money saved up in your bank accounts. Situations like these call for some kind of financial assistance.

How to procure an unsecured personal loan?

In times of financial duress, unsecured personal loans are a viable solution. Since unsecured personal loans are not backed by any asset or security as collateral, the only factors that determine the approval of your loan are your credit score and history, the level of outstanding debt that you have incurred and in some cases, the level of your income.

A direct risk-rate relationship

Since these loans are not backed by collateral, there is a higher risk of default associated with them. This risk is accounted for by incorporating it in the interest rates charged on these loans, which then obviously tend to be higher that normal interest rates. Poor credit situation implies a higher default risk which then translated into a higher interest rate levied upon the loan amount.

Guarantee the security of your home against the risk of repossession

Unsecured personal loans come with the guarantee that the lender cannot lay any claim to your home in the event that you default. Despite having defaulted on your loan, your house is safe from repossession and the lender cannot touch your property.

The lender can, however, take legal action against you for the purpose of recovering his amount. This is often a desperate attempt and not employed often since litigation is a costly procedure and is very time consuming. The time lag involved in legal procedures and lack of collateral do offer you a brief reprieve from paying back the loan immediately. You can use this time to seek an alternative method for repayment or for a way to negotiate the terms of repayment with your lender. Resetting the terms of payment will prove to be less costly for the lender as compared to legal fees.

Expedited Application Processing

Since there are no stringent checks involved in the process of procuring an unsecured personal loan, the loan application processing and resolution takes a considerably lesser amount of time than to regular loan applications. The total time taken between filing an application and receiving notification of the lenders decision takes less than 72 hours on average. The lender merely has to assess your credit report, determine the amount of loan and repayment program and notify you of his approval.

Enjoy Greater Flexibility

You can benefit from relaxation in loan repayment in terms of both monthly repayment amounts and the tenure of the loan term. The lender can ascribe longer repayment terms and lower monthly repayment amounts to you if you negotiate. As long as the lenders' conditions are met, you can bargain for an extension and even a renewal of loan in the future.

Sarah Dinkins is a financial advisor who has been associated with Unsecured Personal Loans since long ago. She also holds a master degree in economics from Harvard University. To find home loans with bad credit and other financial products visit BadCreditFinancialExperts.com

With the cost of car insurance becoming more and more of an issue for the average American family, there are increasing numbers of people looking for cheap car insurance. But although it is possible to find cheap car insurance, the question remains, is it worth buying?

Everyone knows that car insurance companies are not all equal. Cheap car insurance is wonderful when paying the bill, but make a mistake on the company you select and you could find that the cheap car insurance policy that you found may turn into a nightmare. Cheap car insurance may not turn out to be so attractive when making a claim.

So if you have found a discount car insurance broker don't just take the cheapest quote that you get. You need to find out a little about the insurance company that is offering the cheap car insurance rates.

And there's ways to reduce the cost of your car insurance even with the best of companies. Here are some tips for those looking for cheap car insurance to help reduce the cost of car insurance without compromising other things.

7 Cheap Car Insurance Tips

1.
Look at your deductible amount. This is the amount that you pay first out of any claim. The cost of your policy is directly related to this amount. Many people, particularly those who have had their insurance policy for a long time, have never considered whether they ought to vary their deductible. If you have a good driving record and are prepared to increase the risk of paying a larger amount in the event of a (hopefully unlikely) claim you can save money by increasing your deductible.

2.
Have a look at the type of car you drive. Certain types of cars attract higher car insurance rates. Cars such as sports cars and also certain makes and models that are prime theft candidates cost more to insure. If you are buying a car then find out which makes and models these are before you buy.

3.
Drive carefully. Although it sounds a little trite to say it, your car insurance cost is a factor of your risk profile. You won't get cheap car insurance if you have had 3 speeding fines and 2 accidents in the last year. These things are all taken into account and you should take care with how you drive. It all adds up onto your bill. There are big safe driver discounts available.

4.
Considering installing safety and anti theft devices in your car. Again these affect your risk profile. If you have a car that is safer and less at risk of theft it should be cheaper to insure. And if you have a car with certain safety devices now check that your insurance company is aware of these, if not tell them.

5.
Look at your policy when it comes to renewal time, don't just pay. There are some things that you can vary in your policy that will affect the cost. Often there are some things there which duplicate other insurance that you may have that can be eliminated. Be critical, look carefully and ask questions about all these before you renew your policy.

6.
Have a look at who your other insurers are. Many insurers offer a discount for multiple policies. If you insure your house with a certain company then ring them up and find out if they do car insurance. Get a quote from them. Find out what discounts they offer.

7.
Find a good online discount car insurance broker before renewing. The internet is a fabulous resource. Use it. There are all sorts of discount insurance brokers online where you can get fast quotes from a wide range of companies. Don't just settle for the same company you always use. Car insurance rates vary all the time. Always get comparable quotes before renewing any policy.

So if you're in the market for cheap car insurance there's some ideas for you. Don't just accept that car insurance is always prohibitively expensive, get out there and do something about it.

f you're contemplating the purchase of health insurance then there's a good possibility that a health insurance broker might be able to help you. A health insurance broker is a professional individual whose job is to provide health insurance companies or providers with prospective consumers that are seeking to obtain health insurance for themselves or their family. Normally, a health insurance broker is eagerly sought after by an individual or individuals that are not covered by any type of group health insurance plan. Typically this includes folks that have some sort of medical condition prior to obtaining health insurance but it can also include self-employed individuals that aren't covered by an employee health care plan.

In some ways a health insurance broker is almost like a real estate agent. The health insurance broker tries to find the best deal for the individual seeking health insurance based off a list of requested benefits provided to the health insurance broker by the consumer seeking to become insured. After finding a plan that is suitable for the consumer the health insurance broker then works towards a signing of a mutual health insurance contract by both parties involved, the insurance provider and the individual seeking insurance.

Although it may sound like the health insurance broker works for the insurance company it's actually quite the opposite because in a way the health insurance broker works for the consumer. The insurance broker is responsible to know about the many different health insurance providers or companies that may or may not be suitable for his clients. Additionally, they can provide information regarding claims, processing times, customer service and of course health insurance rates or premiums. In some cases the health insurance broker may be paid a referral fee for putting a health insurance company in contact with a consumer seeking health coverage, provided the consumer does actually sign up for health insurance through the recommended company.

Typically, a health insurance broker receives their compensation in the form of a commission. The payment for this commission can come from the consumer, the insurance company or a combination of the both, each paying their respective portion of the broker fee. Still, if a health insurance broker does a good job and actually finds you a health insurance company that offers excellent health coverage with reasonable rates then it may be money well spent in the long run. Also, because the health insurance broker is normally governed or regulated by state licensing requirements you can rest assured that they are trustworthy and will do the right thing ethically speaking in order to find the very best health insurance coverage that you can afford.

Many of us buy life insurance because we want to make sure that our loved ones, especially dependents, remain financially secure after we die. Income replacement is the No. 1 reason people buy life insurance.

Non-earning caregivers also have an important - and often overlooked - economic value that should be covered by life insurance.

Life insurance is also purchased by those interested in achieving specific business or estate-transfer goals.

There are many types of life insurance policies depending on your goals, and there are huge price differences among different companies offering identical coverage. Policies are available from hundreds of life insurance companies in the United States. Most financial planners recommend that each family income provider carry no less than 10 times their annual income in life insurance.

Here's an orderly way to go about shopping for life insurance:

1) Assess your needed life insurance amount..
2) Decide on the most appropriate policy type for your goals.
3) Choose possible companies by setting high standards for financial stability ratings.
4) Shop until you find the best price.
5) Look at ways to get the best possible life insurance rate.
Life insurance is a long-term proposition, so you should pay particular attention, at time of purchase and throughout the life of the policy, to the financial stability ratings of your life insurance company. Ratings indicate a company's ability to pay claims.

Assessing your life insurance needs

The first step in life insurance planning is to analyze your life insurance needs - meaning the economic needs of dependents left behind. A great way to determine your coverage needs is to use an online calculator like Insure.com's Life Insurance Needs Estimator Tool.

Before purchasing a life insurance policy, consider your financial situation and the standard of living you want to maintain for your dependents or survivors. For example, who will be responsible for your final medical bills and funeral costs? Would your family have to relocate or otherwise change their standard of living after losing your income? The assumption of immediate death is necessary to determine the current life insurance needs for a family or individual.

Add in the longer term financial needs of the remaining family members, such as: children's expenses, income for the surviving spouse, mortgage and other debt payoffs, college education funds and an additional emergency fund.
Because life insurance needs change over time, your life insurance amount should be reevaluated periodically. We recommend a review at least once every five years or whenever you experience a major life event such as a change in income or assets, marriage, divorce, the birth or adoption of a child, or a major purchase such as a house or business.

In theory, you should have a declining need for life insurance as you age because fewer people remain dependent upon you for income support. Exceptions would be protecting a business entity or paying taxes on a large estate for heirs. If the purpose of buying life insurance is to pay estate taxes, then you'll need permanent life insurance, which is in-force as long as you live and pay premiums.

Policy choices

Life insurance policies [http://www.insure.com/quotesmith/controller?REF=99998&reqid=qstermindex&redirx=x] are divided into two main types:

Term life insurance, which provides only death protection without any side funds or "cash values" (offering the least expensive cost per $1,000 of death coverage purchased).
Permanent life insurance, which has "cash value" accounts in which a return-on-investment component becomes an often complex and expensive part of the policy (most expensive cost per $1,000 of coverage).

Term life insurance
The simplest of all life insurance to understand and the cheapest to buy: Term life insurance provides death benefit protection without any savings, investment or "cash value" components for the term of the coverage period.

Term life insurance is available for set periods of time such as 10, 15, 25 or 30 years. With "annual renewable term life," your policy automatically renews each year and premiums increase as you get older. Choose "level term insurance" if you want your premium to stay the same for the duration of the policy. Also available is "decreasing term insurance," where premiums remain level but your death benefit declines over time. This is good if you want to cover only a specific debt that decreases, such as a mortgage or business loan.

As long as you pay your premiums, the company cannot cancel you.

Term life insurance is a popular choice because of the long rate-guarantee periods and because of the ability to get a low cost life insurance policy. However, if you get to the end of your policy term and still need life insurance, you'll need to shop for a new policy, which will then be priced based on your older age and health status.

Choosing an initial rate-guarantee period is easy: Match the period of time your dependents need your income to the available rate-guarantee periods. For example, if your children are young and you have decades to go on your mortgage, try 30-year term life. If your children are leaving the nest and your home is paid off or nearly paid off, 10-year term might fit the bill.

Other policy provisions that drive the popularity of term life insurance are guaranteed renewal and guaranteed convertibility.

Guaranteed Renewal. Before you buy a term life policy, ask the agent or company to confirm to you that the policy contains a guaranteed renewable option, which grants you the right to continue coverage beyond the initial rate-guarantee period without a medical exam. This feature, found in most term life policies sold today, is extremely important should you become sick and uninsurable toward the end of your rate-guarantee period.
For example, say that you've been paying $800 per year on a $500,000, 20-year level term life policy and develop cancer near the end of the 20-year period, thus making you uninsurable. Assuming that you want to continue the coverage, a guaranteed renewable clause would allow you to continue the coverage beyond 20 years on an annual renewable basis without an exam, albeit at a much higher annual premium of, say, $8,000 in year 21, $11,000 in year 22, and so on.

You may have sticker shock right now but these premiums don't look so high when you are very sick and uninsurable but still in need of coverage.

Guaranteed Convertible. Another built-in feature of most term life policies is the right to convert your coverage to any cash value policy that the company might offer at current rates without having to take another physical exam. This feature may be of use in the future if you decide you want cash value life insurance.
If you'd like term insurance to cover you for a certain period of time but you're confident you'll outlive the policy, consider a "return of premium" (ROP) term life insurance policy. Under this type of policy, if no death benefit has been paid by the end of your insurance term, you receive all your premiums back (tax-free). Return of premium term life insurance generally costs 50 to 150 percent more than a comparable term policy but it provides a way to hedge your bets no matter what happens.

Term life insurance is widely available on the Internet, from direct-to-consumer life insurance companies and from insurance agents and brokers.

Cash value life insurance

If you want more than a death benefit from your life insurance policy and like the idea of a long-term savings account (not insured by any federal agency) or stock market investment, you might consider cash value life insurance such as whole life, universal life or variable life. But be prepared to pay much higher premiums per $1,000 of coverage precisely because you are now funding a cash value account and paying fees and expenses.

In many cash value policies, the annual premium does not increase from year to year. Universal life policies allow you to fluctuate or even skip premium payments, which in turn adjusts your death benefit amounts.

Unlike term life insurance, which is easily compared online, cash value insurance is often marketed by agents and brokers in a face-to-face setting, where needs and strategies can be discussed.

Because of the complexity and dizzying array of possible outcomes for permanent life insurance, regulators insist that cash value insurance be sold using pre-approved illustration formats. These illustrations can run to 15 or more pages. Cash value life insurance illustrations are divided into two major sections: guaranteed values and projected or "illustrated, non-guaranteed" amounts. Illustrations can be complex and hard to compare in an apples-to-apples way.

Pay particular attention to the guaranteed death benefit and premium-payment sections because these columns contain the actual company promises. If you don't like what you see there, walk away.

Another caveat: Many cash value policies contain harsh penalties for surrendering the policies in the early years. Changing your mind within the first few years is an expensive decision.

Whole life insurance

Ordinary whole life insurance offers "permanent protection" with a cash value account that grows over time. Whole life provides a level death benefit and level premiums throughout your life and for as long as you continue to pay the premiums. For example, a healthy 40 year-old female might pay $4,200 per year for a $500,000 whole life policy. The premium remains level at $4,200 per year for the rest of her life and, in the event of death at any age, the policy will pay $500,000 to her beneficiary.

Whole life also contains a cash value account that builds over time, slowly at first and gaining steam after several years. You can withdraw your cash value or take out a loan against it, but remember, if you die before you pay back the loan, the death benefit paid to your beneficiaries will be reduced. For example: Susan has a $500,000 whole life policy in force and, over the years, has borrowed continually from the cash value. Her total loan amount and accrued interest totals $300,000. When Susan dies, her beneficiary will receive $200,000 because the life insurance company will first pay itself back from the death benefit.

Understand what your beneficiaries will receive upon your death. If you have a traditional whole life policy, your beneficiaries receive only the death benefit no matter how much cash value you've built up. Other payout options available for higher premiums are:

Death benefit plus cash value
Death benefit plus return of premium
Whole life policies can be issued as "participating" or "nonparticipating." Participating policies typically cost more but may return annual dividends if the insurer has a good financial year. Dividends are never guaranteed. Nonparticipating whole life insurance offers no dividends.

Buyers of whole life insurance like the certainty of fixed premiums with a known death benefit for life. They also appreciate the "forced savings" component and watching their cash value account build up.

Universal life insurance

This kind of policy offers greater flexibility than whole or term life. Universal life has many moving parts to understand before you buy.

After your initial premium payment, you can reduce or increase the amount of your death benefit. Also, after your initial payment, you can pay premiums any time and in any amount, as long as you don't miss a minimum payment level. In some cases, there are limits to how much extra you can pay in advance. If you choose to increase your death benefit, you may have to provide medical proof that your health has not deteriorated.

You will need to manage these policies to maintain sufficient funding, especially because the insurance company can increase charges.

Some new universal life policies perform like term life insurance: They can be configured at the time of purchase to provide both level death benefits and level premiums that are guaranteed for life as long as you pay the scheduled premium.

Variable life insurance

Variable life offers a death benefit with a side fund that operates like an investment account. It shifts the uncertainties of investment gains and losses to the policyholder.

The insurance company invests your premiums and offers you a choice of funds in which your money will be invested. Returns are not guaranteed. The amount of money your beneficiaries will receive and the cash value of your policy depend on how well the underlying accounts perform. Theoretically, the cash value can go down to zero and, if so, the policy will terminate. Some variable life policies will guarantee a minimum death benefit.

Other permanent life insurance considerations

When your cash value account grows large enough, it can be used by the insurer to pay your premiums for the rest of your life. This is known as being "paid up." You can still withdraw your cash value, but you'll have to resume premium payments to keep the policy in force or settle for a reduced benefit that the remaining cash value can support. Your policy illustration will show you how long it may take for your whole life policy to be "paid up."

If you no longer want your whole life policy, you can surrender it to receive the current cash surrender value or convert it into an annuity, but keep in mind that cashing in a permanent policy after only a couple of years is an expensive way to get insurance protection for a short time.

Riders add benefits

You can add riders to your life insurance policy that guard against a number of unpleasant situations. Your insurer will have its own list of available riders, but here are a few:

Accelerated death benefit rider (aka living benefits rider): Pays the benefit early if you become terminally ill.
Accidental death benefit rider: Pays an extra benefit if you die as the result of an accident.
Long term care rider: Pays for long term care expenses should you not be able to do some of the "activities of daily living," such as dressing or toileting.
Waiver of premium rider: Waives premium payments should you become totally disabled.

How life insurance is priced
Your life insurance rate is based on your life expectancy, the face amount you request and the length of the policy, whether it's the duration of your life (whole life) or a specific period (term life). Obtaining a low cost life insurance policy depends, in large part, on your current and past health.

Because your current and past health conditions impact your life expectancy, insurers want to know as much as possible about your health condition. Common conditions such as high blood pressure, heart disease, obesity, cancer and depression can all raise your life insurance rate or even result in a declination.

Based on your medical history, you'll be grouped into a category such as "preferred plus," "preferred," "standard" and "substandard." Your category ultimately determines your premiums.

Insurance buyers with severe health conditions or a combination of conditions can find it hard or impossible to find life insurance. They are known as "impaired risks." Local agents may not be experienced enough to find a company that specializes in insuring people with certain medical conditions. Fortunately, impaired-risk specialists have expertise in knowing where to direct applications for folks with medical conditions.

The life insurance buying process

The life insurance applications process is paper-intensive, can take weeks and often seems intrusive for people who value their privacy. A face-to-face paramedical examination is generally required for policies in excess of $100,000, which means, at minimum, giving of both blood and urine samples to the paramedical professional.

Expect questions in detail regarding your lifestyle, intended foreign travel destinations, your family health history and your personal health history. Do you intend to scuba dive? Have you had parents or siblings with heart disease or cancer before age 60? Have you ever taken any medicine for anxiety or depression? These, and more, are the kinds of questions to expect.

Sometimes multiple interviews are required in order to verify your information. The paramed examiner typically asks these questions face-to-face and often insurance companies will conduct follow-up telephone interviews so that you can verify the first set of answers. Regardless of the type of life insurance you buy, most policies require you to meet certain guidelines regarding your lifestyle and health history.

If it sounds tempting to shortcut this process by fudging on an answer or withholding information, don't do it. It's a crime in all 50 states to lie about or conceal information on a life insurance application. Besides, policies obtained through fraud can be voided at claim time.

Insurers will likely report your medical exam results (reported as numbered codes) to the Medical Information Bureau (MIB), which maintains a database of those who have applied for life insurance in the last seven years. If you've given different answers to medical questions in the past, it will raise a red flag with the MIB. The goal of the MIB database is to reduce fraud.

All standard life insurance policies generally cover death by any cause at any time in any place, except for death by suicide within the first two policy years (one year in some states).

If you don't care to go through the underwriting process, you have two other, more expensive, options:

Simplified issue life insurance can be purchased after answering only a few medical questions. There is no medical exam required. However, if you report health problems, you will likely be declined. Also, if you are healthy, or even if you have some negative medical history, an underwritten policy is still going to be your least expensive.
Guaranteed issue life insurance is sold to anyone who applies (up to an age limit) and is by far the most expensive way to purchase life insurance. This should be considered only by those who are declined for everything else but still need life insurance. These policies have graded death benefits, meaning your beneficiaries won't receive the full death benefit until several years into the policy.
In naming a beneficiary, keep in mind that the life insurance company will want to see only the names of those who are financially dependent upon you. An acquaintance, friend or relative, absent of a financial relationship, will not do.

Working with an agent

After reviewing the various life insurance policies available, you might still be unsure about which best meets your needs. The American Council of Life Insurers (ACLI) recommends consulting an insurance agent. ACLI spokesman Jack Dolan says an agent can recommend policies that will meet your needs. "Look at the recommended policy with care to be sure it fits your personal goals," Dolan says.

Carefully study your agent's recommendations and ask for a point-by-point explanation. Make sure the agent explains items you don't understand. Because your policy is a legal document, it is important that you know what it provides.

Insure.com offers these recommendations for deciding which type of life insurance to purchase:

If your agent recommends a term life policy, ask:

What is the Standard & Poor's, A.M. Best, Fitch, Moody's and Weiss ratings of this insurance company?
What is the initial rate-guarantee period? Is this policy renewable past the initial rate-guarantee period without a physical exam? If so, what are the premiums?
Is this policy convertible to permanent insurance without a physical exam? If so, for what period of time do I have the right to convert?
If your agent recommends a cash value policy, ask:

What is the Standard & Poor's, A.M. Best, Fitch, Moody's and Weiss ratings of this insurance company?
Can you tell me, in writing, why you are recommending cash value insurance for me at this time?
Why should I combine my life insurance protection needs with my investment objectives?
Can you please prepare an analysis for me that shows the true cost of this cash value insurance policy over 5, 10, 15, 20, 25 and 30 years vs. buying term life and investing the difference in long term bonds over those same time periods?
How much is your first-year commission on this proposed cash value policy vs. your commission on an equivalent term life insurance policy?
Are these proposed annual premiums within my budget?
Why do you think that I can commit to paying these premiums over the long term, perhaps decades?
How much will I receive if I surrender the policy?

Additional Resources
Consumer Federation of America's Insurance "Rate of Return" Service
Insurance Information Institute: Learn about life insurance
Your state's department of insurance may also have life insurance buying guides online

Many people now are purchasing various forms of insurance policies and also enrolling in insurance plans. The fact that both people and property can be insured gives people the assurance that no matter what happens, their investments will not be just put to waste.

What insurance plan is purchased is a decision that interested parties need to make. In order to assist people in making these decisions, there are online insurance quotes that provide people the chance to compare and contrast insurance plans and policies.

What are Online Insurance Quotes?

It is important that a person knows the insurance premium or the amount of money that he must pay when he purchases an insurance policy or insurance plan. The amount then gives him the chance to know if he has the capacity and capability to purchase one or not. The act of providing the amount and doing the computations on an insurance plan is referred to as an insurance quote, and when a quote is made available on the Internet, then this is what we call an online insurance quote.

These online insurance quotes are very helpful to people who are planning to buy an insurance plan or policy. With insurance quotes, a person can contrast and compare insurance plans and policies before deciding. Thus, these online insurance quotes assist people in deciding what kind and which insurance plan or policy is the best buy for them.

Are These Online Insurance Quotes Free of Charge?

There are some websites that offer online insurance quotes free of charge. However, you may chance upon other websites that also offer online insurance quotes for a certain fee. This is mainly because these paid online insurance quotes provide more options compared to those offered for free. There are also some sites that provide a person insurance quotes from various insurance companies so that the person can better compare policies.

As car owners, we know the need of car insurance. And we also know that we got to be wise in choosing the best car insurance that we will apply for. We want the best at the lowest cost. But the cheapest car insurance is not necessarily the best car insurance right away. In deciding we must put our heads: "What if I had an accident just now?" From there we can ask the sales representative everything about the insurance they are offering.

Think the unthinkable. Ask the wildest questions and give the representative the worse scenarios you could be in. What is your deductible amount should you have an accident? What if your car hit a tree? Think about the bumper, the windshield, the side mirrors, the driver. How much would the insurance company spend in fixing that? Do they have a special deductible glass for glass or car coat or is the deductible universal no matter what happens to the car? What if the car was almost ruined when it collided with another car? Is one driver covered for the price? Can you have additional drivers? Most people do not realize whether or not they have the best car insurance until they had an accident. You might be surprised you are not as insured as you think you are.

In picking the best car insurance, we must compare all the car insurance companies offering this service. Do not hesitate in asking them all the questions you have in mind regarding the insurance. Anyway, you are a customer. You can call each company and give them your information: your age and gender, the brand, model and year of your car, and anything else they would want to know. Then, write down all the information they give you. Pay special attention to the coverage they are offering for a certain price. You must not just look at the price but the quality and the premiums being offered, though price is a priority. You are entering a contract here. And your beloved car is involved.

Again, the best car insurance is that which offers the cheapest possible premiums with the most possible coverage. Never get tired calling and asking all the insurance companies you may be considering. Getting the best car insurance may take a lot of hard work calling all these insurance companies but you will realize once the unthinkable comes, it is all worth it.

Many Americans rely on their automobiles to get to work. No automobile means no job, no rent or mortgage money, no food. A single parent, struggling to make ends meet in the suburbs with 100,000 miles on the odometer, would presumably welcome the guaranteed opportunity for low-priced insurance that would take care of every possible repair on her auto until the day that it reaches 200,000 miles or falls apart, whichever comes first. Especially if the insurance is valid regardless of whether she even changes the oil in the interim.

So why aren't the auto insurance companies writing such coverage, either directly or through used auto dealers? And given the importance of reliable transportation, why isn't the public demanding such coverage? The answer is that both auto insurers and the public know that such insurance can't be written for a premium the insured can afford, while still allowing the insurers to stay solvent and make a profit. As a society, we intuitively understand that the costs associated with taking care of every mechanical need of an old automobile, particularly in the absence of regular maintenance, aren't insurable. Yet we don't seem to have these same intuitions with respect to health insurance.

If we pull the emotions out of health insurance, which is admittedly hard to do even for this author, and look at health insurance from the economic perspective, there are several insights from auto insurance that can illuminate the design, risk selection, and rating of health insurance.

Auto insurance comes in two forms: the traditional insurance you buy from your agent or direct from an insurance company, and warranties that are purchased from auto manufacturers and dealers. Both are risk transfer and sharing devices and I'll generically refer to both as insurance. Because auto third-party liability insurance has no equivalent in health insurance, for traditional auto insurance, I'll examine only collision and comprehensive insurance -- insurance covering the vehicle -- and not third-party liability insurance.

Bumper to Bumper

The following are some commonly accepted principles from auto insurance:

* Bad maintenance voids certain insurance. If an automobile owner never changes the oil, the auto's power train warranty is void. In fact, not only does the oil need to be changed, the change needs to be performed by a certified mechanic and documented. Collision insurance doesn't cover cars purposefully driven over a cliff.

* The best insurance is offered for new models. Bumper-to-bumper warranties are offered only on new cars. As they roll off the assembly line, automobiles have a low and relatively consistent risk profile, satisfying the actuarial test for insurance pricing. Furthermore, auto manufacturers usually wrap at least some coverage into the price of the new auto in order to encourage an ongoing relationship with the owner.

* Limited insurance is offered for old model autos. Increasingly limited insurance is offered for old model autos. The bumper-to-bumper warranty expires, the power train warranty eventually expires, and the amount of collision and comprehensive insurance steadily decreases based on the market value of the auto.

* Certain older autos qualify for additional insurance. Certain older autos can qualify for additional coverage, either in terms of warranties for used autos or increased collision and comprehensive insurance for vintage autos. But such insurance is offered only after a careful inspection of the automobile itself.

* No insurance is offered for normal wear and tear. Wiper blades need replacement, brake pads wear out, and bumpers get dings. These aren't insurable events. To the extent that a new car dealer will sometimes cover some of these costs, we intuitively understand that we're "paying for it" in the cost of the automobile and that it's "not really" insurance.

* Accidents are the only insurable event for the oldest automobiles. Accidents are generally insurable events even for the oldest autos; with few exceptions service work isn't.

* Insurance doesn't restore all vehicles to pre-accident condition. Auto insurance is limited. If the damage to the auto at any age exceeds the value of the auto, the insurer then pays only the value of the auto. With the exception of vintage autos, the value assigned to the auto goes down over time. So whereas accidents are insurable at any vehicle age, the amount of the accident insurance is increasingly limited.

* Insurance is priced to the risk. Insurance is priced based on the risk profile of both the automobile and the driver. The auto insurer carefully examines both when setting rates.

* We pay for our own insurance. And with few exceptions, automobile insurance isn't tax deductible. As a result, the fear of increasing insurance rates due to traffic violations and/or accidents changes our driving behavior and we sometimes select our automobiles based on their insurability.

Each of the above principles is supported by solid actuarial theory. Although most Americans can't describe the underlying actuarial theories, most everyone understands the above principles of auto insurance at the intuitive level. For sure, as indispensable automobiles are to our lifestyles, there is no loud national movement, accompanied by moral outrage, to change these principles.

Unsustainable Market

In contrast, similar principles are routinely violated in health insurance. To demonstrate this, let's return to the same suburban mother from the opening paragraph. She's busy working, driving to and from work, and driving her kids to school and activities. She ends each day exhausted, sitting on the couch with fast food. She's obese, has a sedentary life, a bad diet, and hasn't taken the time to go to the doctor in years. After a simple injury doesn't heal for weeks, she turns up at the emergency room and learns she has type II diabetes. Although type II diabetes is controllable, changing diet and exercise habits and properly tracking her condition takes time and effort and she's never quite successful in implementing the necessary lifestyle changes.

So the initial emergency room visit is only the first of a long list of health care related to non-controlled diabetes and other problems associated with obesity. Whether she has individual or group insurance, her insurance pays for each episode of care, without singling her out for a premium increase, and without charging her any more cost sharing than is charged to the healthiest and most medically diligent insureds. Her coverage continues until she voluntarily changes insurance companies and/or employers or becomes eligible for Medicare. If she's covered under group insurance she may not even pay any premium. Her insurance continues unabated, even though the disease was caused by neglecting her body and she maintains her poor lifestyle even after the disease becomes known.

This just wouldn't happen in auto insurance. This scenario is the auto insurance equivalent of guaranteed access to low-priced auto insurance that takes care of every possible repair, including damage already done, until the day the car falls apart so completely it's unsalvageable (death) or reaches 200,000 miles (Medicare), regardless of whether she even changes the oil (takes care of herself) in the interim.

As a society, we don't expect this in private-market auto insurance, but we expect it in private-market health insurance. Furthermore, there's a chorus of national and state interests, which continuously pushes us further away from the auto insurance principles.

The current private health insurance market isn't sustainable. Prices have been consistently increasing faster than inflation for decades. Each year, insureds use more health care than ever before and more people have no insurance at all. Most actuaries and other people in the private health insurance market don't want national health insurance with its bureaucracy and one-size-fits-all benefits. Yet, we're trying to sustain a private insurance system, which violates the very principles we know are necessary for private insurance markets.

Yes, health insurance involves the sacredness of human life and is therefore different from auto insurance. But if we're to sustain a private-market solution to health insurance, actuaries need to explain to the larger society, in terms that society understands, the rationale for the following principles:

* As sacred as health care is, it's still an economic transaction that has to be balanced by individuals and societies, against other economic choices. It can't be unlimited. Sometimes it will be secondary to other choices. On a given day, for example, the mother in our scenario may value her car more than her health.

* Insurance premiums should be paid by the individual and tied to controllable risk factors. This will provide the best incentive for the control of risk factors.

* Although it's hard to draw the line between abuse, neglect and ignorance, self-abuse shouldn't be insured and we need to draw that line somewhere.

* The private market can't provide unlimited, self-directed health insurance.

* Routine care and ongoing treatments of chronic conditions can be pre-funded, can even be subsidized, but they don't constitute "insurable events."

* Insurance can't be expected to keep every human body in pristine condition. No amount of health care will prevent everyone's ultimate death.

* Comprehensive, unlimited, non-subsidized private-market coverage isn't possible for people with severely impaired health.

* The private health market can provide limited non-subsidized health insurance, such as protection from accidents, to even health-impaired individuals.

* Individuals who can afford to do so and who take good care of themselves should be able to "buy up" to better coverage. People have the option of buying up for everything else in life.

Discussion of these principles is lacking from most of the current health insurance debate. If society can intuitively understand how similar principles apply to health insurance, then they should be able understand the principles in the health insurance context. We need to initiate the debate.

This commentary is solely the opinion of its author. It does not express the official policy of the American Academy of Actuaries; nor does it necessarily reflect the opinions of the Academy's individual officers, members, or staff

Car insurance rates are prohibitive nowadays. Many families really struggle to pay the car insurance bill each month. And car insurance rates vary all the time. So if car insurance cost is an issue for you, what can you do about it?

The car insurance industry is a massive industry. It is also a highly competitive one, and car insurance rates vary over time as car insurance companies compete for business. Car insurance rates are often highly fluid.

It is entirely possible to lower the cost of your auto insurance rates by altering your behaviour, and you can do this by having a better understanding of how the rates are assessed.

Car insurance rates are based on an assessment of risk. Whilst insurance companies vary their rates to compete with other insurance companies, they also vary their rates based on their assessment of the risk posed by a particular driver driving a particular car. They do this because there is no point in buying business with low car insurance rates and then insuring high risk drivers at these rates. This is a recipe for losing money.

So, if you lower your risk, you lower your car insurance. How do you
lower your risk? Well there's a number of ways that your own driving and car behaviour can affect your car insurance rates.

Have a look at the car you drive. Is it suitable for your current needs? If not then would it be worthwhile to consider a change?

Different cars attract different auto insurance rates. Sports cars, high powered cars and cars at greater risk of theft attract higher rates. How long have you had your car and would it be wise to think about another one that would be cheaper to insure and more useful to you?

Are you a safe driver? Do you stick to the speed limit? Are you at risk of other driving offences? Many people do not think about some of the consequences of speeding tickets and driving offences until after they have seen their subsequent car insurance bill.

Your risk profile is a direct result of your driving record. A clean driving record and you will be rewarded by cheaper rates. A poor driving record and you will be penalised, usually for quite a while.

Are you willing to attend driver training courses? Many car insurance companies offer specific discounts for drivers who have attended a course. Why? Lower risk.

Are you willing to drive less? Could you car pool or use public transport to get to work? Car insurance companies look at the amount of driving their clients do when assessing their car insurance rates. Why? Lower risk. Less miles driven equals less risk. And you'll save on other car costs too.

So if auto insurance costs are an issue for you and your family there are things you can do. These are just a few of those things, there are many more. Car insurance rates are not set in stone.