State F., which is listed as number 32 on the Fortune 500 list of largest U.S. companies, was founded in 1922 by a retired farmer and insurance salesman named George Jacob “G.J.” Mecherle. Having seen first hand how crooked some life insurance salesman could be, G.J. founded State F. to be all about about fairness and doing the right thing for the customer such as offering fair prices and having great claims paying practices.For instance, Mecherle knew that farmers drove less and had fewer accidents than did people from the city, and he thought that they should thus pay less for automobile insurance. The insurance company G.J. worked for didn’t agree – and suggested he start his own company. So he did. And although he threw his early business plan into a cold fireplace in frustration, his wife Mae pulled the papers out and told her husband he was doing the right thing and needed to fulfill his dream of a fair insurance company.One way in which State F. keeps things fair is by making every policyholder a shareholder of the company. As a mutual company owned by its policyholders, State F. returns a portion of premiums when expenses are lower than expected. In 1997, State F. declared nearly $700 million in dividends to auto insurance customers in 30 states and the District of Columbia.State F. added its Life Insurance division in 1929.FUN FACT: An unknown composer named Barry Manilow wrote the music for State F’s “Like a good neighbor…” theme song which was first used in 1971.State F. joined the Internet revolution in 1995, after a history of developing agent-and-client-helpful computerized insurance systems going all the way back to 1980. Today that means having a top-notch online Insurance Service Center. From the comfort and convenience of your own home, with State F’s online Insurance Service Center, you can: pay your bill; register your policies to manage online; change a Health insurance policy; change a life insurance policy or annuity; report a claim; find a registered State F. representative; get a list of all NAIC numbers for State F’s companies; organize your family information; organize your property information; manage your policies; and get a rate quote. You can also e-mail the company directly for additional questions, and get general helpful information about insurance that will allow you to make informed decisions and protect yourself from fraud.Under their online Life Insurance section, State F. describes in clear, concise language what life insurance is supposed to be used for and why it is important, without giving a sales pitch. Here, State F. also provides an online life insurance needs calculator so that you can be informed about how much life insurance you should have before you even have a meeting with an agent. This is all part of State F’s commitment to being a service company first and a group of salesmen second.State F. Life Insurance was given a Superior, A++ rating by A.M. Best Consumer ratings–the only one out of 1677 life insurance companies to receive this rating.This is vitally important to consider because insurance agents, brokers, financial advisors, banks, and other insurance professionals utilize Best’s Financial Strength Ratings to determine an insurer’s financial strength. In recent years, ratings have also become increasingly important in helping consumers themselves make decisions on which insurers to buy coverage from, whether it be to protect their lifestyle or their future financial well being.Best’s Ratings provide an independent third-party evaluation to help determine the ability of an insurer to fulfill its financial obligations with regard to life, homeowners and other insurance products to you — the policyholder. Our rating process subjects all insurers to the same rigorous criteria, providing a valuable benchmark for comparing insurers.
Low cost health insurance does not mean cheap health insurance. It simply means finding the right and appropriate coverage that caters for your needs. Did I forget to say, at an affordable price? So, before you spend more than is necessary on your health care insurance, make sure that you are aware of how best to get low cost health insurance.There are people who are in need of low income health insurance plans. Not everyone can afford the typical features of generic health insurance policies. Their choice for low income health insurance will be affected by their household income and expenses and the number family members to be covered. Many people in this segment of the insurance buying market will try their best to ward of illnesses through prayer and sufficient care. They tend to self-medicate to save the costs of visiting a doctor and hiking up their premiums. But sooner or later the inevitable may happen. They will not be able to avoid getting medical attention for more serious conditions. The irony is that some of these conditions may have been treated at a lower cost if they had chosen to get the attention of a doctor. Low income health insurance coverage is sometimes provided by some firms as well as some states.A number of states currently give out low income health insurance for qualified residents with a minimal monthly premium. To qualify for this privilege, certain guidelines must be fulfilled based on the number of household members and if there any existing family member with disabilities. The plans are not different from those receiving subsidies from public funds but by giving low income health insurance to citizens, the state will somehow reduce the amount it spends annually on health care.There are states where budgets are assigned to cater for low health insurance qualifiers. Once the budget limit is reached, citizens who are in the queue for medical services may have to remain in line until the next earliest opportunity for medical care presents itself. Until the opportunity presents itself, they may have to consider alternative options.Factors To Consider When Seeking Low Cost Health InsuranceThe first step towards obtaining a low cost health insurance is to know what is being offered and how it is priced. Knowing the alternatives in terms of facilities and prices will help you to make decisions that can reduce your cost of medical insurance without compromising on your real requirements. Knowledge, in this case, is truly power and money. You could get this knowledge by doing some research on the Internet. There are a number of sites that offer you comparative information on medical insurance plans, which you can refer before finalizing your medical insurance coverage.Also, the plan you select will show how much you need to pay. Now, if you decide to choose a fee-for-service plan, you will pay more premiums than when you choose managed care insurance plans. The main advantage of choosing fee-for-service plans is that you have the prerogative of choosing your healthcare provider.You may not have to pay much out-of-pocket cost except deductibles if you decide to choose managed care. Premiums are much lower for managed care insurance plans as this makes it one of the ideal low cost insurances you may be interested in. Group insurance also offers low cost health insurance and this kind of plan can be gotten from your employer. However, it is very important for you to compare costs within group insurance plans to find the affordable ones that offer the widest possible coverage.Many insurance service providers offer various forms of health insurance plans. It is very tedious and many times confusing to compare the features of competing plans. Unfortunately, this process of due diligence is required to ensure that you choose the right plan with the right features suited to you and your family at the right price. Do your research over the Internet to get to your initial list of insurance service providers to consider for your needs. During this research phase, you will also understand and appreciate features that you will consider important to you. Contact agents from these selected insurance providers to send you their proposals based on your stated needs. Do not be afraid to clarify your doubts with these agents when you receive their proposals. It is their job to enlighten you about the various features of their proposals. Remove service providers who are unable to answer your questions convincingly or deliberately try to confuse matters, off your hit list.When you have whittled your list down to the final shortlist, ask your family, friends and colleagues for some feedback if they have had any interactions with the health insurance service providers in your list. You may also choose to discuss your options with some trusted medical professionals.