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How do I pick a life insurance company?

Roughly 1,000 life insurance companies sell life insurance in the U.S., but many are members of groups of companies and so aren’t really competitors with each other. Having separate companies enables a group to offer its products through separate distribution channels, to more efficiently meet the regulatory requirements of particular states, or to achieve other organizational goals. There are an estimated three hundred company groups. Moreover, not every group has a company licensed to operate in each state. As a general rule, you should buy from a company licensed in your state, because then you can rely on your state insurance department to help if there’s a problem. And if the insurance company becomes insolvent, your state’s life insurance guaranty fund will help only policyholders of companies it has licensed. To find out which companies are licensed in any state, contact that state’s state insurance department. There are several other points to keep in mind when selecting a life insurance company: Product – most, but not all, companies offer a broad range of policies and features, so choose a company that offers the product and features that meet your needs. Identity – life insurance company names can be confusing, and different companies can have similar names. Life insurance company names often use words that suggest financial strength (such as Guaranty, Reserve, or Security), financial sophistication (such as Bankers, Financial, or Investors, maturity (such as First, Pioneer, or Old), dependability (such as Assurance, Reliable, Trust), fairness (such as Beneficial, Equitable, or Peoples), breadth of operations (such as Continental, National, or International), government (such as American, Capital, or Republic), or well-known and respected Americans (such as Jefferson, Franklin, or Lincoln). Be sure you know the full name, home office location, and affiliation (if any) of any company you are considering (for an example, click here). Financial Solidity – life insurance is a long-term arrangement. There is no guarantee for life insurance policyholders similar to that provided for bank accounts by the Federal Deposit Insurance Corporation (FDIC). Select a company that is likely to be financially sound for many years, by using ratings from independent rating agencies. Market ethics – some life insurance companies subscribe to the principles and codes of conduct of the Insurance Marketplace Standards Association, a nonprofit organization that promotes ethical conduct in life insurance marketing. Advice and service – for many people, life insurance is a strange, complex product, so that it helps to deal with a representative with whom you can communicate and who is attentive to your needs. This might be connected to the selection of a life insurance company because some agents represent only one or a very few life insurance companies. See How do I select a life insurance agent? Claims – you may want to check a national claims database to see what complaint information it has on a company. Also, your state insurance department will be able to tell you if the insurance company you are considering doing business with had many consumer complaints about its service relative to the number of policies it sold. Premium and cost – The premium is the amount you pay the company for the life insurance contract with all of its benefits. Even for a given death benefit and type of insurance (e.g., term life), the premium can vary widely among companies, either because some companies’ policies have features that others don’t, or because some charge more than others for the same coverage. So the first step in comparing policies is to make sure you compare similar insurance plans, based on: – Your age – The type of policy and policy features – The amount of insurance you are purchasing The premium for the policy isn’t the same as the cost of the protection portion of the policy. One policy might have a higher premium but also offer more benefits (for example, it might pay policy dividends) than another. Or both might promise dividends, but in different amounts at different points in time. In each case, the higher-premium policy might have a lower cost of protection. How can you tell what a policy’s cost is? Companies should tell you a policy’s Net Payment Cost Index and its Surrender Cost Index. Use the Surrender Cost Index if you’re thinking of keeping the insurance only for a specific period of time; use the Net Payment Cost Index if you expect to keep the policy indefinitely. Generally, the lower the cost index, the better.
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What you need to know about Finland, Sweden and NATO

Finland is on the cusp of joining NATO while Sweden is on the verge of following suit. Here’s what you need to know about how the war in Ukraine pushed the two Nordic states closer to the US-backed alliance, and what comes next. Why haven’t Finland and Sweden already joined NATO? While other Nordic countries like Norway, Denmark, and Iceland were original members of the alliance, Sweden and Finland did not join the pact for historic and geopolitical reasons. Both Finland, which declared independence from Russia in 1917 after the Bolshevik revolution, and Sweden adopted neutral foreign policy stances during the Cold War, refusing to align with the Soviet Union or the United States. For Finland, this proved more difficult, as it shared a massive border with an authoritarian superpower. To keep the peace, Finns adopted a process some call “Finlandization,” in which leaders acceded to Soviet demands from time to time. Both countries’ balancing acts effectively ended with the collapse of the Soviet Union. They joined the European Union together in 1995 and gradually aligned their defense policies with the West, while still avoiding joining NATO outright. Each country had different reasons for avoiding signing up for the NATO pact in tandem with the EU. For Finland, it was more geopolitical. The threat to Russia is more tangible thanks to the two countries’ shared 830-mile border. “Finland has been the exposed country, and we’ve been the protected country,” former Swedish prime minister Carl Bildt told CNN’s Christiane Amanpour in a joint interview alongside former Finnish prime minister Alexander Stubb. While an independent nation, Sweden’s geography puts it in the same “strategic environment” as its liberal democratic neighbors, Bildt said. Finland and Sweden have enjoyed a close partnership for decades, with Stockholm viewing its decision to refrain from joining NATO as a way to help keep the heat off Helsinki. Now, however, Sweden is likely to follow Finland’s lead. “We share the idea that close cooperation will benefit both of us,” current Swedish Prime Minister Magdalena Andersson said at a news conference last month alongside her Finnish counterpart, Sanna Marin. What does NATO membership entail? The reason most countries join NATO is because of Article 5 of the North Atlantic Treaty, which stipulates that all signatories consider an attack on one an attack against all. Article 5 has been a cornerstone of the alliance since NATO was founded in 1949 as a counterweight to the Soviet Union. The point of the treaty, and Article 5 specifically, was to deter the Soviets from attacking liberal democracies that lacked military strength. Article 5 guarantees that the resources of the whole alliance — including the massive US military – can be used to protect any single member nation, such as smaller countries that would be defenseless without their allies. Iceland, for example, has no standing army. Bildt said he doesn’t see new big military bases being built in either country should they join NATO. He said that joining the alliance would likely mean more joint military training and planning between Finland, Sweden, and NATO’s 30 current members. Swedish and Finnish forces could also participate in other NATO operations around the globe, such as those in the Baltic states, where several bases have multinational troops. “There’s going to be preparations for contingencies as part of deterring any adventures that the Russians might be thinking of,” Bildt said. “The actual change is going to be fairly limited.” Why does Russia loathe NATO? Russian President Vladimir Putin sees the alliance as a bulwark aimed at Russia, despite the fact that it had spent much of the post-Soviet years focusing on issues like terrorism and peacekeeping. Before Putin invaded Ukraine, he made clear his belief that NATO had edged too close to Russia and should be stripped back to its borders of the 1990s, before some countries that either neighbor Russia or were ex-Soviet states joined the military alliance. Ukraine’s desire to join NATO, and its status as a NATO partner — seen as a step to eventual full membership — was one of the numerous grievances Putin cited in an attempt to justify his country’s invasion of its neighbor. The irony is that the war in Ukraine has, effectively, given NATO a new purpose. “Article 5 is back in the game, and people understand that we need NATO because of a potential Russian threat,” Stubb said in an interview with CNN before the invasion. Why the war in Ukraine changed everything Russia’s invasion of Ukraine was the final straw that pushed Sweden and Finland to pull the trigger on NATO membership. If the Kremlin was willing to invade Ukraine, a country with 44 million people, a GDP of about $516 million, and an armed force of 200,000 active troops, what would stop Putin from invading smaller countries like Finland in Sweden? “Everything changed when Russia invaded Ukraine,” Marin said in April. “People’s mindset in Finland, also in Sweden changed and shifted very dramatically.” Since the Russian invasion of Ukraine in February, public support for joining NATO in Finland has leaped from around 30% to nearly 80% in some polls. The majority of Swedes also approve of their country joining the alliance, according to opinion polls there. “Our NATO membership was decided on the 24th of February, at 5 o’clock in the morning, when Putin and Russia attacked Ukraine,” Stubb said. “Finland and Sweden would not have joined without this attack.” Officials in both Sweden and Finland have also expressed frustration that, in the lead-up to the war in Ukraine, Russia attempted to demand security guarantees from NATO that the alliance stop expanding eastward. Such a concession, however, would have effectively given Russia the power to dictate the foreign policies of its neighbors by taking away their ability to choose their own allies and partners. Russia, Swedish Defense Minister Peter Hultqvist told CNN, wants “real influence in the security choices in Europe.” “They want an influence over the countries in the neighborhood. And that is totally >>Read more
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Rich and diverse history of religions: Millenniums-long deception

Religion has been an integral part of human society for thousands of years, shaping cultures, beliefs, and values. From ancient civilizations to modern times, religion has played a major role in shaping the course of human history. But what is the history of religions, and how did religions develop over time? Religious beliefs can be traced back to the earliest civilizations, such as the ancient Egyptians and Sumerians, who worshipped gods and goddesses associated with natural phenomena such as the sun and moon. These early beliefs were often polytheistic, meaning that they worshipped multiple gods, and were often tied to a specific place or location. As civilizations evolved, so did religious beliefs. In India, Hinduism emerged as a complex and diverse religion that incorporated a variety of gods, rituals, and practices. In China, Taoism and Confucianism developed as two distinct philosophical and religious traditions. One of the major turning points in the history of religions was the advent of monotheism or the belief in one God. This was a major shift from polytheistic beliefs and is seen in the Abrahamic religions of Judaism, Christianity, and Islam. These religions, which originated in the Middle East, would go on to have a major impact on world history and the development of western civilization. In addition to the major world religions, there are also numerous indigenous religions, which are tied to specific cultural and geographical locations. These religions often involve unique beliefs, rituals, and practices that have been passed down through generations and reflect the unique cultural heritage of a particular region. Religions always have been a source of conflict and division throughout history. Wars have been fought, and people have been persecuted for their religious beliefs. However, despite this, religion continues to play a significant role in the lives of millions of people around the world, providing comfort, guidance, and a sense of community. The history of religions is a rich and diverse tapestry of beliefs, practices, and cultural traditions. From ancient civilizations to modern times, religion has been an integral part of human society, shaping cultures, beliefs, and values, and, unfortunately, continues to play a significant role in the lives of millions of people around the world. Religious Traditions of Ancient Times Religion has been a part of human society since ancient times, shaping the way people lived, thought, and interacted with one another. From the polytheistic beliefs of ancient civilizations to the monotheistic religions of today, religious systems have played a significant role in shaping humanity’s history. In ancient times, religion was deeply intertwined with every aspect of daily life. People believed in gods who controlled the forces of nature, and they made offerings and prayers to these deities in order to appease them. This helped them to feel a sense of control over their lives and the world around them. Religious Traditions of Actual Times Some common arguments are made against religion Lack of empirical evidence: One of the main criticisms of religion is that there is no scientific evidence to support many of the claims made by religious texts and teachings. This leads some people to believe that religion is based purely on faith and is not rooted in reality. Contradictions within religious texts: Some people point to inconsistencies and contradictions within religious texts as evidence that they are not truly divine or inspired by a higher power. The role of power and control: Some people argue that religion is often used as a tool by those in power to control and manipulate the masses. They claim that religious leaders use religious doctrine to maintain their power and influence over others. Lack of logical consistency: Many religious beliefs and practices are not logically consistent or do not stand up to scrutiny. Personal experience: Some individuals may reject religion based on their own personal experiences and observations, finding that their own beliefs and values do not align with what is taught by religious institutions. It’s important to note that these are just a few of the reasons some people might reject religion, and everyone’s experiences and beliefs are unique. If there is any all-powerful and omnipotent force, then it did nothing to prevent this post from being written.
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Avoiding scams after a disaster

Don’t be a victim of dishonest service providers If your home was destroyed by a hurricane, wildfire or other disaster, be cautious. Unfortunately, there are dishonest service providers that prey on disaster victims. They know that people who have lost their homes and valuables may not be thinking clearly. If you have suffered this type of loss, don’t make any rash decisions. Talk to your insurance agent, who may recommend service providers in your area. Here are some basic guidelines for hiring service providers. Roofers and builders Don’t be rushed into signing a contract with any company. Instead, collect business cards and get written estimates for the proposed job. Beware of building contractors that encourage you to spend a lot of money on temporary repairs. Payments for temporary repairs are covered as part of the total settlement. If you pay a contractor a large sum for a temporary repair job, you may not have enough money for permanent repairs. In most cases, you should be able to make the temporary repairs yourself. Ask your insurance agent. And remember to keep receipts. Investigate the track record of any roofer, builder or contractor that you consider hiring. Look for professionals that have a solid reputation in your community. You can call your Better Business Bureau for help. Also, get references and never give anyone a deposit until after you have thoroughly researched their background. A common fraud scheme is for a so-called “contractor” to convince a homeowner that a large deposit must be provided before repair work can begin. Frequently, the job will be started, but not completed. Unfortunately, these con artists are never seen or heard from again. Public adjusters and attorneys Don’t make any rash decisions about hiring someone to handle your claim. Be especially wary of individuals who go door-to-door soliciting business in the aftermath of a catastrophe. Most importantly, don’t let anyone scare you into signing a contract. You don’t want to be victimized by someone who comes into town, hoping to make a fast buck. You could end up forfeiting a significant portion of your insurance dollars. Before hiring a public adjuster or an attorney, try to settle your claim directly with your insurance company. Your insurer provides an adjuster at no charge to you. Ask your insurance agent or company representative to help you with your claim and don’t be afraid to ask questions. If you decide to work directly with your insurer, you still have the right to hire a third-party professional to help you. If your claim is complicated and you want to hire a public adjuster or attorney, make sure that person is qualified to handle your case. Ask your friends, relatives or business associates for the names of well-regarded professionals in your community. Also, call your state insurance department regarding a public adjuster, and your state or county bar association about a prospective attorney. Understand that you will have to pay a public adjuster 15 percent and an attorney as much as 30 percent of your total claim settlement.
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How is life insurance sold?

You can buy life insurance either as an “individual” or as part of a “group” plan. Individual Policy When you buy an individual policy, you choose the company, the plan, and the benefits and features that are right for you and your family. You might be able to buy the policy from the same agent or company representative who sells you property and liability insurance for your home, auto or business. And although you won’t qualify for any discounts by buying your life insurance and other insurance from the same representative, working with a single advisor for all your insurance needs can make your financial life simpler. Individual policies are typically sold through insurance agents or brokers. If you buy a policy through an agent or broker, you will pay a commission, also called a “load,” that is built into the premium rate. The commission compensates the agent or broker for the time spent advising you on how much and what type of life insurance to buy, for facilitating the application process, and for any further service that’s needed in future years to keep the policy up-to-date (such as changing beneficiary designations, arranging policy loans or coordinating your financial plans with your lawyer and accountant). There are two other ways to buy individual life insurance. In Connecticut, Massachusetts and New York, you can buy it from a savings bank. Or you can buy a policy directly from an insurance company or from a fee-only financial advisor—what’s known as a “no load” or “low load” policy. Although there is no sales commission on these policies, the company will still have charges built into the premium to cover its marketing expenses, application processing expenses and subsequent services. Finding an insurance company that will sell you a no-load policy isn’t easy; typing in “no load life insurance” on Internet search engines will in many cases lead you to an agent or broker. Group Policy You might have life insurance automatically from your employer; many large companies do this. Your employer also might offer you the chance to buy additional life insurance under a group policy. And you might be eligible to buy life insurance under a group policy from a union or trade association or other group you belong to (such as a college alumni association or an automobile club). Compared to buying an individual life insurance policy, there are several advantages to buying life insurance under a group policy: Group purchase can sometimes offer you a lower rate for a given death benefit either because the employer or other group sponsor subsidizes the premium or because the rates are averages weighted by people younger than you. There are virtually no health qualifications for getting the group coverage. Premium payment is usually by payroll deduction (for employer-based group coverage) or linked with other payments (e.g., credit card bills), lowering the chance of missing a payment. Most employer group plans are term insurance, but if you leave that employer your state may require that you be allowed to convert the policy to a form of whole life insurance with the same insurance company that provides the group life insurance. You would then pay premiums directly to the company and keep the insurance in force. This can be an advantage if you are older, or have experienced deteriorating health, as it gives you the opportunity to qualify for whole life insurance without having a medical exam. Credit Life Insurance Credit cards and lending institutions may offer life insurance to pay off your outstanding loans in the event of your death. This is generally made available in two ways: As part of the loan at no extra charge. In this case the cost of the life insurance is borne by the lender and is included in its interest rate or other finance charges. If you have this type of credit life insurance, you don’t need separate life insurance to pay off that loan if you die. As an option at an extra charge. In this case, you should usually reject the optional coverage, provided that you have some other life insurance (group or individual) that can be designated to pay off the loan if you die. If you’re under age 50 and you don’t have other insurance that could pay off this loan, consider buying individual life insurance for this purpose as the rates will probably be better. At 50 or over (or younger with health issues), if you have no other life insurance for this purpose, the optional credit life insurance is likely to be cheaper than individual life insurance.
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