Disability insurance policies provide financial support in the event of the policyholder becoming unable to work because of disabling illness or injury. It provides monthly support to help pay such obligations as mortgage loans and credit cards.
Thursday 26 September 2013
Health Insurance
Health Insurance:
Health insurance is Insurance against the risk of incurring medical expenses among individuals. By estimating the overall risk of health care and health system expanses among a targeted group an insurer can develop a routine finance structure such as a monthly premium or payroll tax to ensure that money is available to pay for the health care benefits specified in the insurance agreement. The benefit is
administered by a central organization such as a government agency, private business or not for profit entity. According to the Health Insurance Association of America , health Insurance is defined as "coverage that provides for the payments of benefits as a result of sickness or injury. Includes Insurance for loses from accident, medical expanses, disability, accidental death and dismemberment".
Gap Insurance
Gap insurance covers the excess amount on your auto loan in an instance where your insurance company does not cover the entire loan. Depending on the companies specific policies it might or not cover the deductible as well. This coverage is marketed for those
Car Insurance
Car insurance Protects the policy holder against financial loss in the event of an incident involving a car they own, such as in a traffic collision.
coverage typically includes:
. Property coverage, for damage to or theft of the car
. Liability coverage, for the legal responsibility
Types of Insurance
Any risk that be quantified can potentially be insured. Specific kinds of risk that may give rise to claims are known as perils. An insurance policy will set out in detail which perils are covered by the policy and which are not. Below are non-exhaustive lists of the many different types of insurance that exits. A single policy may cover risks in one more of the categories set out below. For example vehicle insurance would typically cover both the property risk and
the liability risk. A home insurance policy in the US typically includes coverage for damage to the home owners belongings certain legal claims against the owner and even a small amount of
Affordable Premium
If the likelihood of an insured event is so high or the cost of the event so large that the resulting premium is large relative to the amount of protection offered then it is not likely that the insurance
will be purchased even of an offer. Furthermore, as the accounting profession formally recognizes in financial accounting
Large Loss
The size of the loss must be meaningful from the perspective of the insured. Insurance premiums need to cover both the expected cost of losses and supplying the capital needed to reasonable assure that
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