Free Insurance Informations

Business Owner's Policy

2008-11-18T04:38:00.000-08:00

A standard business owner's policy (BOP) provides coverage for property (fire, wind, theft, etc.), liability (injury of someone in your business or by your product), business interruption, and, in some cases, workers' compensation. The components of each BOP are different, so be sure that your policy contains all the components your business requires.

BOPs were originally designed for small businesses, often retail, such as stationery or hardware stores. Today, BOPs are available for a broad range of businesses covering most major industries and professions. If your business has more than 50 employees, or very high sales volume, you may not be eligible for a BOP and will have to purchase a package with the same elements at higher limits.

Travel Medical

2008-11-18T04:34:00.000-08:00

(also known as International Medical Insurance)

Travel Medical Insurance reimburses you for emergency medical expenses incurred when you are traveling or living in a foreign country.

Maximum coverage levels can be substantial enough (up to US$5 million) to cover major medical expenses such as emergency surgery and extended hospital stays.

The "American-style" of international medical insurance coverage requires you to pay the specified deductible (excess in the UK) and co-insurance also known as co-pay before the insurer pays any expenses.

Plans often require pre-certification by the insurer prior to hospital admission abroad.

When hospitalization is necessary, many insurers provide a guarantee of hospital admission, and some insurers provide direct payments to hospitals.

When hospitalization is not necessary, most insurers require a claim form to be submitted for reimbursement of covered expenses for basic treatment by a physician and outpatient medical services.

Plans usually include coverage for emergency medical evacuation, reunion, repatriation of remains, accidental death and dismemberment (AD&D), and various other 24/7 travel assistance services.

Why do I need car insurance?

2008-11-18T04:32:00.000-08:00

Your car has two unique qualities. First, it is probably one of the most expensive things you own. Insurance protects your investment and guarantees you a way of coping with the expense of accidents, vandalism or theft, as well as securing your financial responsibility to the bank or other institution lending the money to buy your vehicle.

Second, when you drive, you are operating a powerful machine, weighing one ton or more and capable of moving at over 100 miles per hour. You are responsible for the safety of your passengers, your fellow drivers, other people's property, pedestrians and yourself. Insurance helps you live up to that responsibility by ensuring your ability to cover the costs of potential damages or injuries.

You are also required to be financially responsible by state laws, which are best satisfied through your insurance coverage. In fact, in most states insurance is a prerequisite to registering your car. So if you want to drive your own vehicle, you must be insured.

Why you need a Homeowner Insurance?

2008-11-18T04:31:00.000-08:00

Why you need a Homeowner Insurance?

The largest single investment most consumers make is in their home. The consumer can protect his or her home, possessions, and liability with a homeowner’s insurance policy.

In addition to its availability to homeowners, similar coverage is available to those who rent homes or apartments. These policies are referred to as tenants’ or renters’ homeowner’s policies. If you are a renter, you do not need protection against damage to the building itself, but you do need protection against damage to or theft of your personal property and liability in the event someone falls or gets hurt on the part of the premises you rent.

A condominium owner may purchase a condominium homeowner’s policy to insure personal property. Some policies may also include any additions or alterations not insured by the condominium association. It is important to check with your condominium association and your agent before buying a policy to make sure you are adequately covered.

Term Life Insurance

2008-11-18T04:27:00.000-08:00

Term life insurance
Term life insurance is the simplest - and cheapest - form of life insurance. Basically, you decide the amount of money you want your nearest and dearest to get in the event of your premature demise.

Term life insurance pays a tax-free lump sum in the event of death within a specified period of your choice (known as the 'term'). Fixed monthly - or annual - premiums are paid for the duration of the term.

A whole bunch of variables - your age, gender, state of health, previous ill health, the term you require - determines how much the premium will be.

For example, a 32-year-old non-smoking male requiring $190.000 of cover for 25 years will pay around $20 a month. And the premiums are fixed for the whole 25-year term.

You’re covered for as long as you pay the monthly premiums. If you stop paying the premiums, the policy terminates. With this form of life insurance, there’s no investment element.

If you get to the end of the term and haven’t claimed, you forfeit all the premiums you’ve paid. No claim, no gain - but at least term insurance is cheap and the premiums remain constant.

What Are My Health Plan Choices?

2008-11-18T04:20:00.000-08:00

What Are My Health Plan Choices?

Choosing between health plans is not as easy as it once was. Although there is no one "best" plan, there are some plans that will be better than others for you and your family's health needs. Plans differ, both in how much you have to pay and how easy it is to get the services you need. Although no plan will pay for all the costs associated with your medical care, some plans will cover more than others. Almost all plans today have ways to reduce unnecessary use of health care–and keep down the costs of health care, too. This may affect how easily you get the care you want, but should not affect how easily you get the care you need.

Plans change from year to year, so you should carefully consider each plan, using the questions outlined in this booklet. If you get health insurance where you work, you should start with your employee benefits office. Its staff should be able to tell you what is covered under the plans available. You can also call plans directly to ask questions.

Health insurance plans are usually described as either indemnity (fee–for–service) or managed care. These types of plans differ in important ways that are described below. With any health plan, however, there is a basic premium, which is how much you or your employer pay, usually monthly, to buy health insurance coverage. In addition, there are often other payments you must make, which will vary by plan. In considering any plan, you should try to figure out its total cost to you and your family, especially if someone in the family has a chronic or serious health condition.

Indemnity and managed care plans differ in their basic approach. Put broadly, the major differences concern choice of providers, out–of–pocket costs for covered services, and how bills are paid. Usually, indemnity plans offer more choice of doctors (including specialists, such as cardiologists and surgeons), hospitals, and other health care providers than managed care plans. Indemnity plans pay their share of the costs of a service only after they receive a bill.

Managed care plans have agreements with certain doctors, hospitals, and health care providers to give a range of services to plan members at reduced cost. In general, you will have less paperwork and lower out–of–pocket costs if you select a managed care type plan and a broader choice of health care providers if you select an indemnity–type plan.

Over time, the distinctions between these kinds of plans have begun to blur as health plans compete for your business. Some indemnity plans offer managed care–type options, and some managed care plans offer members the opportunity to use providers who are "outside" the plan. This makes it even more important for you to understand how your health plan works.

Besides indemnity plans, there are basically three types of managed care plans: PPOs, HMOs, and POS plans.

http://www.insurancesguide.org