Any farmer will tell you that farm insurance isn’t just a necessary expense, it is also tantamount to being a legal requirement, however in other parts of the world many farmers are effectively uninsured. A new program being developed in Kenya for drought stricken farmers hopes to change that.
Throughout Africa millions of cattle farmers are trying to seek out a living in drought conditions but their stock faces inadequate feeding and watering, lack of vaccinations, and the wrath of the terrain which is dry and hot. Cattle mortality is high, and without farm insurance every setback can be disastrous to the herder who will need to replace the animal from their savings.
Poverty in Africa can be eradicated if the people of Africa have access to many of the services western people take for granted such as a vibrant healthy insurance industry. Offering farm insurance to traditional tribes people would within a very short period of time help them recoup their losses and plan for a better future.
This is one of the goals of a new insurance group created by Kenya’s Equity bank, Swiss Re, the International Livestock Research Institute, and UAP, a Kenyan insurance company operation out of Nairobi. Farmers and herders in remote regions of the country will be offered farm insurance for the equivalent of one third the cost of replacing a cow for as many as 10 beasts.
However this insurance will be very different from that offered in the western nations. Normally a farmer, or any policy holder for that matter, would be required to keep inventory of their stock, and if an animal is lost they’d need to determine the worth of filing a claim against the excess or deductible charged by the insurance company. Read more »
Term Life Insurance
We’re all familiar with insuring our belongings, whether its a house, a car, our personal effects, and of course most people in the western world will also have some type of policy to cover retirement, a government subsidized pension, or investments, but a significantly smaller number of people have term life insurance, or to more correctly describe it, as death insurance.
Of course we know that when we are dead we aren’t going to be terribly worried about making a claim on our insurance, the ancient Egyptians aside, most sane people recognize life insurance is intended to protect our estate and dependents from hardship after we are no longer alive to support them.
Term life insurance is one of several options we have available to us, and tends to be the most affordable as well. It can be compared with permanent life insurance, and other forms of life insurance such as variable, universal, or whole life insurance policies.
I mentioned that life insurance could more correctly be called death insurance, and in the case of term life insurance this is most definitely correct. A policy is taken out for a fixed number of years, and for an agreed value, and if the premium is paid every year then the policy remains in force with the original terms.
Essentially, term life insurance is very simple; an individual takes out a policy and agrees to pay a fixed amount per year, for a fixed number of years, and if they should die before the policy expires, their estate will receive the insured amount. If the policy expires before their death then the policy will need to renegotiated or a new policy found. Read more »
Inexpensive Auto Insurance
For most of us getting a inexpensive auto insurance is as important as the air we breathe, nobody likes paying for insurance, but the law and our conscience dictates we need it. Searching for auto insurance is about as much fun as having a tooth extracted, but knowing what auto insurance is, how it affects you, the minimum cover you need, and how to negotiate better rates make the process a lot easier.
We all dread high monthly rates especially if the rates seem disproportionately high for the value of the automobile, but they still need to be paid, otherwise we literally have to do without driving anywhere, an inconvenience many of us simply can’t do.
The cost of owning an automobile, even a cheap car, can be expensive what with finance repayments, ongoing maintenance, and monthly or annual insurance premiums. The basic cover needed may not be obvious, insurance agents aren’t always going to tell you about the cheapest cover you can buy, so looking for inexpensive auto insurance is best done online, where the cost of marketing to you is low, and you may be able to find an insurer that you’d never normally see in your yellow pages.
Minimum insurance cover varies from state to state so be sure to be very thorough with your research, and always use your correct zipcode to get accurate rate comparisons. Different states and countries may apply different laws to insurance companies, they may have to pay into special consumer protection funds, or their tax rates may vary, either way, don’t always rely on a discounted price you see listed until you’ve confirmed you’re eligible for the listed rate. Read more »
Farm Insurance | Admin | 
January 23, 2010 6:53 pm | 
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