As the title says, is medical insurance important? Definitely. No one plans to get sick. No one want to get sick or hurt. Even when we get sick or hurt, we wish that the medical expenses won't hurt our pocket as well. That's why we need to invest on medical insurance. Why I say investment? Because we won't know when or where we will need medical care. We won't need medical care every time we...
Insurance claim is a formal demand to insurance company for a payment based on insurance policy. Claim may be filed directly to insurance company or filed through their insurance brokers or agents. Insurance broker/agent duty including sells, solicits, and/or negotiate insurance for compensation. Marsh & McLenna, Aon Corporation, Arthur J. Gallagher & Co and Willis Group are the largest insurance brokers in the world based on revenue. Insurance company reviews the claim for its validity...
Medicare In the United States, Medicare is a single-payer, national social insurance program administered by the US federal government since 1966, currently using about 30-50 private insurance companies across the Unites States under contract for administration. Medicare provides health insurance for Americans aged 65 and older who have worked and paid through payroll tax. It also provides health insurance for younger people with some disabilities status as determined by the Social Security Administration, as well...
What is Health Insurance? Health insurance is a type of insurance that protect insured from medical expenses. You may choose reimbursement policy or paid the expenses directly by the insurer. Every country have their own regulations regarding providing health insurance for their citizen. Several country provide national health insurance and/or employee health insurance and require the citizens to be enrolled in it. Another country relies on private health insurance. Health Insurance Forms There are several...
You maybe often hear about insurance quote. What is the meaning of insurance quote? According to Cambridge Dictionary, insurance quote is a statement of the amount of money that an insurance company calculates as the cost of providing insurance for something. For example, get an immediate insurance quote for your car by calling us now or visiting our website. To put in simple, insurance quote is an estimate amount provided by the insurer regarding the...
The answer is definitely yes. You might be a careful person, obeying traffic laws, no speeding, and so on. But you never know that someone will do the same as you. Anything could happen on the road, whether it is other driver's fault, environment or animal. Or maybe you will be at fault. There are a lot reasons why it is important to have car insurance. Car insurance is not only cover a collision claim...
During vehicle driving, it's not difficult to accidentally hit something or gotten hit. Therefore, you need collision coverage to protect your vehicle against physical damage. This type of coverage is important because anything can happen on the road. Some of the most significant damage to your vehicle can come from another vehicle, tree, pole, or guard rail. When you get into accident, you will pay your deductible then your collision coverage will help pay to...
Comprehensive Insurance is the type of automobile insurance which cover your vehicle from physical damage caused by anything but collision. This insurance would cover your vehicle if it was destroyed by natural disaster (tornado, flood, hail etc.), dented by run-in animal (deer), vandalism (spray painted), theft and so on. Comprehensive can be used in combination with other coverage or as a standalone coverage. Comprehensive insurance often offers with a reasonably priced coverage with low deductible.With...
People always found "Deductible" in their insurance policy. What is deductible? Deductible is an amount the insured must pay over claim before the insurance company pay the claim. Deductible can be seen as out-of-pocket expenses. Out of pocket expenses means direct cash out that could be reimbursed later. The simple way to understand deductible is through this example, let's say your deductible is $500 and your total expenses (claim) is $1500. You have to pay your $500 deductible and...
What is coinsurance? coinsurance is a type of insurance which the insured shared the payment's claim with the insurer. The agreement settle in insurance policy which the insured will pay a certain percentage of the covered cost after the payment of the deductible. Coinsurance could be found in health insurance, property insurance, in title insurance and other insurance. It's commonly used in the U.S insurance market. While in Europe, coinsurance is widely used in European...
