It may seem hard to believe, but life insurance salesmen are a hot commodity. Lots of companies are adding thousands of them to their payroll including an additional 3,618 agents at New York Life Insurance Co. and 2,340 agents at Northwestern Mutual Life Insurance Co. according to a report in the Wall Street Journal. Why the sudden run on jobs that so often are the punchline of jokes? With the economic crises, many people are now wary of the stock market and they’re looking for another investment with more and more turning to whole life insurance policies.

With many people out of work, selling insurance is a job they can begin fairly easily even though a few years ago they may not have considered it as an option. But it’s definitely not a get-rich-quick job. Statistics from research firm Limra show that 70% of agents earn less than $35,000 in their second year on the job. And sticking with it isn’t very common. Fewer than one out of five new agents are still selling insurance four years later. “You have to step a little out of your comfort zone,” says 48-year-old Catherine Calise, who started selling insurance for New York Life after ending her 18-year real estate career. “I’ll be in line at the grocery store, picking up dry cleaning, grabbing an iced tea at Starbucks, and I’ll be prospecting the person next to me” by striking up a chat.”

While selling life insurance is largely a commission-based job, companies do spend lots of money investing in new agents. Insurance companies spend thousands of dollars on income subsidies, medical benefits, and training.  “We know investing in agents takes a while to pay off,” says Mark Pfaff, a New York Life executive.

Wondering if you might make a good life insurance salesperson? Here are some important qualifications to have according to the Bureau of Labor Statistics:

• A State License: requirements vary by state, but typically you must pass several exams in order to qualify for selling insurance.
• Education: while a college degree isn’t required, some companies may prefer applicants with education in business, finance or economics.
• Continuing Education: Employers are finding continuing education more important as products offered change. Agents must stay up-to-date on tax laws and changes to government benefits programs in order to provide the best service to customers. Most states also require continuing education every two years in order for agents to keep their license.
• High Energy: To sell life insurance, agents need to have a lot of energy and enthusiasm in order to find new clients and meet their needs.

Did you know that your credit score can impact what your insurance company charges you? Many companies review your credit report to determine the rate you’ll pay. If your less-than-perfect credit is causing you to pay more for car insurance, here are some steps to take.

Review Your Credit Report: Make sure your credit report is accurate. Every consumers in the US is allowed free access to their credit report every twelve months from each of the three main credit reporting agencies. Visit AnnualCreditReport.com for access to yours. Look for any inaccuracies that could be forcing your credit score to be lower than it should be. Make sure there are no signs of identity theft.

Pay Delinquent Accounts: Eliminating any outstanding debts that are in collection will help improve your credit score. Make sure to pay your bills by the due date to avoid an even lower credit score.

Ask for Proof: If your insurance company charges you  higher rates based on your poor credit score they are required to tell you based on the Fair Credit Reporting Act. If they tell you that be sure to ask for proof. They must give you a copy of the credit report they used to obtain the information about your credit score.

Check Around: Quotes vary with different insurance companies. If you’re not pleased with the quote you receive from one company, check around. You may get a better rate for car insurance from someone else.

With guests to entertain, a reception space to decorate and programs to fold, I never bothered to check the weather report for my honeymoon. It wasn’t until I got to the Atlanta airport hours after getting hitched and noticed my gate was abnormally empty that I wondered what was up. A CNN weather report blared, “there’s a category three hurricane heading to Belize.” I pushed my worries aside and my new husband and I boarded the plane. It was us, and a handful of other people including a crew from The Weather Channel. Weather Channel host Jim Cantore sat to our right. “What are you guys doing here?” he asked. “Going on our honeymoon,” we gushed. Cantore proceeded to tell us that we should have driven to Charleston instead. He warned us about impending mud slides in the mountains of  Belize, but we weren’t going to let anything stop us from our dream honeymoon. Perhaps if we’d had travel insurance we wouldn’t have been so set on heading into the eye of the storm.

But often travel insurance seems silly. I mean, nothing’s going to happen, right? Think of your vacation as an investment. Deciding whether you want to protect that investment is up to you, but here are some points to consider:

The more you spend the more you’ll want to protect your trip. If you’ve only spent a couple hundred dollars on a nearby vacation rental, it may not be a big deal to you if the trip gets canceled. But if you’ve saved up for this vacation for ten years, travel insurance may offer peace of mind that you’ll get the vacation you’ve been dreaming of.

If you have a lot of connecting flights you may want to consider travel insurance. Certain types of travel insurance can help you if one of the legs of your trip is canceled. Anyone who has dealt with airlines knows it can be tough to get answers or find help.

Consider when you are traveling. If your trip is in the middle of an active hurricane season you may want to spring for insurance. If you’re heading to a place where hurricanes aren’t likely you may be OK skipping it.

Are you traveling with or planning to buy anything expensive? Certain types of travel insurance will cover your belongings. If they get lost or stolen your insurance will pay for them to be replaced.

If you prefer to have peace of mind when you travel, then travel insurance can be a great buy. But if you prefer to live life on the edge, then you may want to skip it and see what happens just like we did for our honeymoon.

The health care debate is heating up and even though there are lots of angles to argue– no one can deny that insurance is expensive. According to the Commonwealth Fund it’s going to keep increasing. In the past decade the average annual family premium plan doubled in cost, jumping from $6,958 to $13,436. And some say it could double again in the next ten years, reaching a whopping $24,000 by 2020.

Soaring premiums have forced some healthier Americans to forgo insurance coverage altogether. Delaware’s Daily Times says that’s the case for resident Dequilla Hurt who canceled her insurance and won’t have any coverage until her probationary period ends at her new job. They interviewed Hurt for a recent report on the state’s rising health care costs. “I have this window of time where I have no health insurance. If something happens to me, if I go to the emergency room now, the total cost will be on me. Will I be able to afford the cost of an emergency room visit? That worries me,” said Hurt.

A Gallup poll found that the salary you bring in greatly impacts the likelihood of having insurance. Of young adults making more than $48,000 a year, 86 percent have insurance. But of those who bring in half that annually, less than $24,000, only 58 percent spring for a health plan.

Some are pointing to the insurance industry’s lack of competition as the reason why costs are increasing at such a fast rate. In just over a dozen years the industry has experienced more than 400 mergers and the number of choices for consumers has dropped by 20 percent which means fewer options for employers looking for the best deal. The Government Accountability Office says that the five largest providers of small group insurance control 75 percent or more of the market share in 34 states. In fact, one out of every nine Americans has insurance with WellPoint, which is the parent company of Blue Cross Blue Shield and Anthem.

Some say that while insurance companies can carry part of the blame for rising premiums, there are other sectors of the health care industry that are driving up costs for Americans. The Journal Sentinel in Wisconsin talked to a Harvard professor who believes part of the problem lies with consumers themselves. “The primary reason that health care costs and health insurance premiums are rising so rapidly is the amount of health care that we consume,” said Katherine Baicker, a professor of health economics at the Harvard School of Public Health. “Now, that is not to say there are no problems with the insurance industry.”

It’s not always fun to prepare for the worst, but sometimes it’s the best way to go. What if your house burns down, a burglar breaks in or a flood destroys everything in your basement. Getting money from the insurance company to replace the damage will be much easier if you have a home inventory. Creating a home inventory for insurance purposes doesn’t have to be complicated, but when the worst happens you’ll be glad you did. Here are a few simple steps for creating a home inventory.

Find Help: There are plenty of resources out there that will help you create your home inventory. Check out downloadable inventory sheets like this one from freedownloadscenter.com. Here is another 15-page home inventory PDF that will guide you through the process. You could also try this free online version from KnowYourStuff.org. While the software is free, storing it will cost you $15 a year.

Grab Your Camera: Take pictures of your valuables like TVs, jewelry and antiques. If items have serial numbers, make sure you take photos of those as well. Take close up shots of identifying markers that would help law enforcement officials know that something belongs to you. You could also just shoot a video of your home for a room-by-room record of your possessions.

Store It: Common sense will tell you it’s not a great idea to store your home inventory in your home because as your home goes up in flames, so will all of your hard work. Find a way to store your data online or in a safe deposit box.

Update Regularly: Chances are you’re buying new stuff regularly. Make sure your home inventory is updated as you invest in new belongings. Pick a date every year or twice a year and put it on  your calendar. That way you’ll be ready when the worst happens.

Wondering what the best minds in money are tweeting about? Every other Tuesday we’ll fill you in on the conversation with Tuesday Money Tweets. You’ll get the 140 characters (or less!) of the financial wisdom you crave from around the Twitterverse.

@ramseyshow: Blake: Grown-ups who spend everything they make are called LOSERS…and Congress. – Dave Ramsey

@tradethecycles: Steve Forbes: “Government spending has never worked as a trigger for sustained and vibrant economic growth. Ever.”

@moneydesktop:  Turn down the thermostat on your water heater. 120 deg F is hot enough & you save a lot by not heating the water to 140

@K_dot_RE: Do you believe in prenuptial agreements? they’re not only for rich folks

@JohnCMaxwell: Millions saw the apple fall, but Newton was the one who asked why. -Bernard Baruch.

@nancytrejos: Said a friend: “You can afford anything on Fridays.” Um, not sure about that.

@Deliverawaydebt: 10 deliveries, 3 stiffs, and crappy tips make for an unhappy pizza dude tonight.

@financialsamura: All I’ve gotta say is this: You’ve got to differentiate between opportunity & REAL opportunity. When it’s staring you in the face KISS IT!

@MoneyCrashers: Self indulgence makes us slaves to our egos while self discipline and restraint are portals to real freedom. – Daniel Lapin

@TodaysEconomy: Economist:”It looks like we’ll have to wait until 2011 to see as many Canadians working as before the recession.”

A panel of CEOs reported to the White House at the request of Health and Human Services Secretary Kathleen Sebelius. Sebelius wanted to know why insurance premiums were increasing so rapidly in recent months. Attending the meeting were CEOs of United Health Group, Inc, WellPoint Inc, Aetna Inc, Health Care Service Corp, CIGNA HealthCare Inc, as well as representatives from the National Association of Insurance Commissioners. President Obama also visited the meeting and read a letter from a 50-year old cancer survivor from Ohio who had experienced a 25% hike in insurance premiums since 2009.

According to reports, Sebelius wanted to hear from the executives as to why there was a recent jump in premium rates in several states. “I asked them to explain why these crushing burdens are being placed on middle-class families and what we can do to lower costs,” Sebelius said in a report on Insurance Networking News. “I also asked the CEOs to post the actuarial justification for these stunning rate increases online in an easy-to-understand manner, so that consumers can see why premiums are skyrocketing to the point that some people in the individual market can no longer afford coverage. I hope they will act quickly and make this information available to all of us. If insurance companies are going to raise rates, the least they can do is tell us why.”

The report says that Aetna CEO Ron Williams defended the increases, saying they were reflective of costs that insurance companies were paying to drug makers, hospitals and other health-care companies that were forcing increases to the cost of medical care. “The rate is really reflective of our other parts of the health-care delivery system,” said  Williams in a Wall Street Journal report. They said that trying to lower premiums without addressing those costs was destined to fail.

NAIC’s President says the hikes are another example of why all states need to be allowed to regulate their own insurance premiums. “State regulators are best positioned to perform rate review and many of us do so with great success,” said Jane L. Cline, NAIC President and West Virginia Insurance Commissioner. “Some, however, have not been given the authority by their state legislatures to review and deny unjustified increases. We believe that a federal backstop could help encourage these legislatures to provide that authority.”

Sebelius asked the CEOs to post information online that explains their breakdown of revenue including how much goes towards administrative costs, how much is spent on marketing and what goes towards actual care. She said making that information easy to access by consumers would increase transparency about what is happening in the health care industry and why rates are increasing.

There are plenty of sources offering information on various life insurance policies, but do you know what actually happens when you buy it? This week my husband finalized a new life insurance policy and had to undergo some simple testing– which turned out to be a little more traumatic than he expected. He was told not to eat for six to seven hours before the testing and a nurse would come to his office to take a blood and urine sample. While attempting to draw blood, the nurse had a little trouble. After several attempts she wasn’t able to draw blood, but the entire process caused my husband to pass out– not once, but twice! Don’t worry, the nurse said this doesn’t happen very often, but in case you’re wondering what to expect when buying life insurance, here are some guidelines.

You will be asked to provide personal information such as:

• height
• weight
• date of birth
• habits such as smoking or drinking
• financial information

Telling the truth is important because if you lie and the company discovers it, you may be forced to pay a higher premium, or worse yet, they could cancel your policy. Most companies also require an in-person medical exam. During the exam you can expect the following tests or procedures:

• Blood Pressure
• Heartbeat check
• Record of height and weight
• Blood sample
• Urine sample

The medical professional will also probably ask you questions about your family medical history and your lifestyle habits. They’ll want to know about any activities you engage in that may affect your health like exercise, smoking, drinking, or even dangerous hobbies. All of this information helps the company to determine what type of a risk you are to the company and what they should charge you for life insurance coverage.

Consumers holding Farmers Insurance auto policies up for renewal in Oregon scored a victory recently. Farmers Insurance Co. of Oregon has been changing consumer premiums based on current credit reports and insurance scoring when it’s time to renew policies. The company has been doing this for three years despite knowing the law does not allow this practice.

Consumers need to be aware that three big U.S. banks––Citigroup Inc., JPMorgan Chase & Co., and Wells Fargo & Co.––all announced that they would no longer be insuring checking accounts in the United States above the nationally guaranteed limit of $250,000 (as insured by the FDIC). This decision came a year after the federal government set up a program designed to assuage the fears of runs on the banks.

The number of no-fault insurance fraud cases have risen steadily in New York with 11,000 incidences reported already this year. Compared to last year this is a seven percent increase. The New York State Insurance Department is suggesting changes be made in required auto insurance coverage to hopefully eliminate the number of fraud cases. The changes will impact consumers in terms of the insurance requirements and the cost of auto insurance.

The Maryland Insurance Administration has a fraud division that is run by Carolyn Henneman. It is her division’s responsibility to process complaints indicating possible cases of all types of insurance fraud. The division recently published a report for the fiscal year just ending 6/30/09 and there was some interesting information in it.

Let’s face it, health insurance discussions create feelings of great weariness. Is the new legislation going to lead to Americans obtaining health insurance without causing even more household budgeting problems?

Apparently, certain liberal groups have taken aim at Senator Max Baucus through some targeted health-care ads, which have appeared on television. The focus of progressives is to get a more liberal health care bill the attention they feel it deserves.

As surprising as it may sound to most Americans, where you live may actually determine what sort of health insurance you have – if you have any at all.

With the introduction of the Senate Finance Committee’s health care plan, a glimmer hope has been rekindled for those American who have been turned down for health insurance because of pre-existing conditions.

One of the major issues that are being highlighted by the current health-care reform debate is the plight of the uninsured in the United States. The controversy is a heated one, dividing along party lines in many cases and making any sort of bi-partisan solution difficult to conceive – let along execute.

With the capital-relief proposal recently approved by insurance regulators, more life insurance companies will be able to make better use of deferred-tax assets. The move is championed by various consumer groups. It was originally submitted by the American Council of Life Insurers in 2008.

Republicans in the House of Representatives have already called for a hearing that would focus on the President’s decision to probe one of the country’s major insurance companies at the request of Senator Max Baucus.

One of the most recent proposals was issued by the chairman of the Senate Finance Committee in an effort to bolster a bipartisan health care bill. The comprehensive plan would include provisions for reforming the health care system as well as a new fee aimed at insurance companies that would help with covering the currently uninsured.

The chances that a viable government insurance plan will be passed are sinking by the day as legislators continue jockeying for support in their respective quarters.

As part of a program to help college and university students meet their educational goals, GEICO insurance has created its GEICO $1,000 Achievement Awards. As a result, hundreds of students have now earned this award.

With the U.S. economy adversely affecting life insurance sales, many Americans are sticking with their current policies or streamlining in order to hold on to the important protections while the financial environment remains shaky.

Now, more than ever, Americans are rating their health insurance company lower in terms of overall coverage and performance much lower than their auto insurer, life insurer, or bank.

In a new development, various state insurance regulators have presented formal accusations that the Texas Windstorm Insurance Association is guilty of carrying on operations using deceptive and unfair practices.

While speculation abounds concerning what effects a serious effort at revamping the U.S. health-care system would have on Medicare, there remain questions that can only be answered by those who currently maintain and operate the program’s multi-faceted features.

While there is this impression that Democrats and Republicans are squarely split over the particulars of President Obama’s health-care agenda, a vital truth is being obscured. There is a surprising amount of agreement between the two parties regarding certain proposals that would give millions of Americans a shot at medical insurance.

The number of new residential mortgage insurance applications actually increased in June from May’s totals, yet it was still the second smallest in the past seven months.

Members of the Senate Finance Committee are not considering new measures that are meant to target those insurers who offer top-tier plans in an effort to find sufficient revenue to offset the costs of proposed health care reforms.

It may not be surprising to some on Capitol Hill that one of the big constituencies that may affect the health-care debate the most includes hundreds of small business owners. In fact, this demographic is presenting some serious challenges to the Obama Administration’s efforts to overhaul health care.

During one of her normal weekly press conferences, House Speaker Nancy Pelosi had harsh words for both health insurance companies and those who current stand in opposition to the concept of public insurance.

Pelosi made it clear that she felt the desire for a quality public insurance legislation was strong. It was equally clear that insurance companies were rallied against the public option.

After the conference, Pelosi even questioned the morality of insurers in opposing the public insurance option. “It is somewhat immoral what they are doing. Of course, they have been immoral all along how they have treated the people that they insure.”

She went on to say, “They are the villains in this. They have been part of the problem in a major way. They have been doing everything in their power to stop a public option from happening. The public has to know that.” Speaker Pelosi was adamant that one of the main issues really comes down to the insurers’ fear of government competition.

Pelosi then said this about the health-care reform legislation: “This is the fight of our lives for the people that we represent, for their health.”

House Speaker Pelosi was asked questions about the most recent deal created by members of the Blue Dog Coalition, part of the Energy and Commerce Committee, during the conference. She noted that current proposal contained similar language to one offered by Senator Kennedy that was making rounds in the Senate.

The battle continues to brew over the extent of the debate over health care reform. Both sides are bringing their guns to bear on any piece of legislation that seeks to offer public solutions for a system that is certainly out of control. Pelosi is a tough proponent of any bill that offers a strong remedy.

Democrats in Congress were seeking ways to put limits on how high the cost of insurance can rise under the expansive health care bill on Friday in a bid to remove a final committee impediment that would get in the way in September.

The presentation of a new measure, intent on greatly expanding the current health insurance parameters for the treatment of autism and other developmental disabilities is making the rounds in the New Jersey legislature and could soon become state law.

Wal-Mart, a large company that has been criticized in the past for its less than generous employee benefits, has now embraced President Barack Obama’s call for mandate directed at large employers that would make it a legal responsibility to provide health insurance for their workers.

The Golden Rule Insurance Company, a group owned by United Healthcare, has introduced two new short-term insurance plans in 19 participating states across the country that are intended to meet the needs with great flexibility while providing more cost-affective coverage.

By the end of 2009, California drivers may have the option of purchasing auto insurance by the mile. It’s much like the way that cell phone users can purchase minutes to talk.

In a disturbing turn, more U.S. drivers are choosing to drop their auto insurance coverage in order to make it through the recession financially intact. It seems that many look at coverage as an expense they can cut in order to save cash for more important things.

Only a few weeks ago, progressive health-care reform seemed like a foregone conclusion. The so-called public plan—a government-operated insurance option championed by President Obama and other prominent Democrats—was to be the legislation’s central program.

President Obama has continued to affirm his support of the development of a government-sponsored health insurance program, yet he admitted that the plan would affect potential Republican support for the legislation aimed at restructuring the health care system.

In a letter sent to financial institutions on May 22, the Federal Deposit Insurance Corporation issued an extension on the temporary $250,000 increase on bank deposit insurance of up to four years.

It seems that Illinois Insurance Companies have found reasons to raise the rates on coverage for millions of that state’s residents.

If you are a homeowner insured by Allstate Corp., you can expect to pay up to 27.5% more on your property insurance. Allstate is just one of many homeowner insurance companies that have recently boosted Illinois rates.

In an update, it seems that Prudential Financial Inc., the largest life insurance company currently approved for U.S. bailout funds has officially refused government aid. The issuer has decided to raise $1.25 billion by selling shares after better than expected performance during a recent share rally that allowed the company to approach private investors.

Even as Congress organizes special health care reform committees for the purposes of developing comprehensive legislation that would transform the fabric of health care in American, one group has something to say.

Since the financial crisis dealt such a heavy blow to the financial system, many people have begun to question the stability of everything they once thought was certain. The insurance industry is no different in this regard. The American people are wondering if their coverage will be there when they need it.

Based on the findings of a new University of Minnesota report, the numbers of adults in the United States who currently do not have any insurance coverage because they cannot afford it or do not have any sources of income is definitely on the rise. The report presents the data on a state-by-state basis.

In a surprising turn, a number of life insurance companies that purchased smaller banks in order to qualify for special capital investments being offered by the US Treasury expressed regret for the hasty move.

Democratic senator Sherrod Brown sees a real problem with American public health. Citing figures, Brown said forty-two million people between the ages of 18 and 64 without health insurance is a serious issue. Added to this number, the 25 million more who lack adequate coverage, and one could see why Senator Brown demands that this issue be addressed by Congress.

With a change in administration, the watchword among many analysts seems to be socialism, particularly when it comes to effort at rehabilitating the health care system in the U.S.

In an effort to allay their fears, many U.S. retirees are buying up immediate annuities in record numbers. One of the reasons for this new trend may be because lifetime payments are guaranteed by American insurance companies.

A case has been filed against Nationwide Life Insurance Company in the U.S. District Court. The possible lawsuit involves health plans purchased by Washington State residents through employers between April 16th, 2003, and August 27, 2008.