Health Insurance
Health insurance is the type of insurance that pays for medical expenses. It also known as:
- health coverage
- health care coverage
- health benefits
Policy can be purchased by individual or company on group basis to cover its employees. Health insurance policy is a lengthy contract. Policyholders should pay premiums to help protect themselves from unexpected healthcare expenses. Insurance contract can be renewable annually or monthly.
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In 2008 approximately 84% of USA citizens have health insurance:
- About 9% purchase health insurance directly
- About 60% obtain it through an employer
- About 20% of Americans obtain health insurance from various government agencies.
Health care system is mainly in private hands in USA. Hospitals and doctors generally funded by payments from patients and insurance.
Hospitals provide some outpatient care in their emergency rooms and specialty clinics, but primarily exist to provide inpatient care.
In 2008 a report by the Commonwealth Fund ranked the USA last in the quality of health care among the 19 compared countries. According to the Institute of Medicine of the National Academy of Sciences, the United States is the "only wealthy, industrialized nation that does not ensure that all citizens have coverage".
Read full article @ Free Insurance Quotes SiteHome Insurance
As auto insurance, home insurance provides compensation or insure you against damage of a home from disasters. Sometimes it’s called hazard insurance or homeowners insurance as well. In the real estate industry it is abbreviated as HOI.
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This is the type of insurance that covers private homes. It can include:
- losses occurring to one's home
- loss of home use
- home contents
- loss of other personal possessions of the homeowner
In some geographical areas, it is necessary to buy additional insurance plan for certain types of disasters, for example:
- flood insurance
- earthquakes
- war
They excluded from original policy plan and require additional coverage. Home insurance policy is a lengthy contract. It names what will and what will not be paid in the case of various events. It can be seasonal or long term.
Home insurance company should notify you by mail, phone or any other method to renew your policy.
Read full article @ Free Insurance Quotes Site
Life Insurance
Life insurance is also known as life assurance. Insurer (or Life Insurance Company) agrees to pay sum of money upon the occurrence of the policyholder's death, illness, critical illness, terminal illness or other event. Policyholder pays a fee at regular intervals or in lump sums. This fee is called a premium.
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Life insurance can be:
- Temporary.
It’s life insurance coverage for a specified term of time for a specified fee (premium). Usually premium buys protection in the event of death and nothing else.
- Permanent
Type of insurance that remains in force until the policy matures (in other words pays out), unless the policyholder fails to pay the specified fee when due.
As with most insurance policies, life insurance is a contract between the insurer and the policyholder whereby a benefit is paid to the designated beneficiaries if an insured event occurs which is covered by the policy.
Insured events that may be covered include:
- Protection policies
- Investment policies
- Illness
Each contract may include limitations of the insured events. Usually they a written to limit the liability of the policyholder: for example claims relating to war, suicide or fraud. Any misrepresentations by the insured on the application will cause the nullification of the contract.
Upon the insured's death or illness the insurance company requires acceptable proof before it pays the claim. For example list of necessary documents that required upon the policyholder's death
- Death certificate
- Completed, signed and notarized claim form
If insured’s death looks suspicious, it can be investigated by insurance company before deciding whether it has an obligation to pay the claim. Proceeds from the policy may be paid as a lump sum or as an annuity.
Read full article @ Free Insurance Quotes Site
Home Insurance
As auto insurance, home insurance provides compensation or insure you against damage of a home from disasters. Sometimes it’s called hazard insurance or homeowners insurance as well. In the real estate industry it is abbreviated as HOI.
|
This is the type of insurance that covers private homes. It can include:
- losses occurring to one's home
- loss of home use
- home contents
- loss of other personal possessions of the homeowner
In some geographical areas, it is necessary to buy additional insurance plan for certain types of disasters, for example:
- flood insurance
- earthquakes
- war
They excluded from original policy plan and require additional coverage. Home insurance policy is a lengthy contract. It names what will and what will not be paid in the case of various events. It can be seasonal or long term.
Home insurance company should notify you by mail, phone or any other method to renew your policy.
Read full article @ Free Insurance Quotes Site
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