Hedging risk: The main purpose of insurance is the hedge the risk of loss. The risk-bearing onus is shifted from the owner of the insured item also referred to as the insured to the insurer. A policy premium is paid to the insurer and in return you get a guarantee against larger losses. If a quantity can be attached to a risk, it can normally be insured.
Auto insurance: Automotive insurance covers possible expenses as well as liabilities incurred as a result of road accident or negative events on your vehicle. Coverage can be on any vehicle including bikes, boats and cars. The policy can cover the insured persons vehicle, party self as well as third parties. Your policy will stipulate who and what will be included and excluded. Your individuality factors will determine what your monthly payment will be. These factors are your sex, age marital status and vehicle make and model. Even your credit score is a factor. Any vehicle bought in terms of a loan or lease agreement must be insured.
Excess: Excess is a very common term in the insurance industry. An excess payment refers to a fixed amount payable every time your insured vehicle is repaired in terms of the insurance policy. Compulsory excess refers to minimum payment insurer wants from insured in event of claim. Voluntary excess is an offer by the insured to pay higher amount of excess to reduce insurance premium. Compulsory excess is the basic excess. Voluntary excess is added on the basic compulsory amount.
Homeowners Insurance: Home insurance is a mixture of personal and liability protection. The insurance covers both accidents and losses related to your home. There are no multiple premiums payable, a single premium a month covers specified risks. Premiums are based on the value of replacing the structure. You can add extra items not related to structures or buildings such as content of home to the policy.
Cover limited: Some natural occurrences or consequences resulting from Acts of God are not covered by the policy. Keep in mind that separate or totally different insurance coverage will be necessary in these instances.
Life Assurance: Life Insurance covers risk events related to a persons life as well as health. The value of the insurance derives from the financial chaos resulting from the health or mortality event and not from the event itself. Premiums are payable either monthly or once-off lump sum. Benefits will be paid-out upon policy specified event happening usually large, once-off amount. Burial costs as well as specified bills due at time of event may be covered by the policy, if specified. Note that specific events and circumstances can nullify the policy, for example suicide.
Fixed Annuities: Since annuities are a form of life insurance they deserve a brief mention. There are two types, the fixed annuity that pays out, the immediate annuity and ones that focus on saving like equity indexed annuities. These are typically guaranteed by the issuing insurance company.
Health Insurance: This type of insurance is for coverage of medical expenses. It can be provided by a private insurer or government programmed in individual or group form. Government issued Medicare coverage or Medicaid eligibility seeks to provide a solution for retirees and the less unfortunate alike. Group form is preferred by companies who would like to give employees Health Insurance as employment benefit. Disability and permanent or long-term nursing can also be included or covered by the insurance policy. A monthly premium or tax is paid and in return their have benefit of medical expense payment with possible inclusion of medication, hospitalization etc.
Exclusions: Health insurance may be restricted or limited and partial or full payment by member requirements. Government health insurance like Medicare and Medicaid is designed to help those in their later years or for those that are less fortunate.
Auto insurance: Automotive insurance covers possible expenses as well as liabilities incurred as a result of road accident or negative events on your vehicle. Coverage can be on any vehicle including bikes, boats and cars. The policy can cover the insured persons vehicle, party self as well as third parties. Your policy will stipulate who and what will be included and excluded. Your individuality factors will determine what your monthly payment will be. These factors are your sex, age marital status and vehicle make and model. Even your credit score is a factor. Any vehicle bought in terms of a loan or lease agreement must be insured.
Excess: Excess is a very common term in the insurance industry. An excess payment refers to a fixed amount payable every time your insured vehicle is repaired in terms of the insurance policy. Compulsory excess refers to minimum payment insurer wants from insured in event of claim. Voluntary excess is an offer by the insured to pay higher amount of excess to reduce insurance premium. Compulsory excess is the basic excess. Voluntary excess is added on the basic compulsory amount.
Homeowners Insurance: Home insurance is a mixture of personal and liability protection. The insurance covers both accidents and losses related to your home. There are no multiple premiums payable, a single premium a month covers specified risks. Premiums are based on the value of replacing the structure. You can add extra items not related to structures or buildings such as content of home to the policy.
Cover limited: Some natural occurrences or consequences resulting from Acts of God are not covered by the policy. Keep in mind that separate or totally different insurance coverage will be necessary in these instances.
Life Assurance: Life Insurance covers risk events related to a persons life as well as health. The value of the insurance derives from the financial chaos resulting from the health or mortality event and not from the event itself. Premiums are payable either monthly or once-off lump sum. Benefits will be paid-out upon policy specified event happening usually large, once-off amount. Burial costs as well as specified bills due at time of event may be covered by the policy, if specified. Note that specific events and circumstances can nullify the policy, for example suicide.
Fixed Annuities: Since annuities are a form of life insurance they deserve a brief mention. There are two types, the fixed annuity that pays out, the immediate annuity and ones that focus on saving like equity indexed annuities. These are typically guaranteed by the issuing insurance company.
Health Insurance: This type of insurance is for coverage of medical expenses. It can be provided by a private insurer or government programmed in individual or group form. Government issued Medicare coverage or Medicaid eligibility seeks to provide a solution for retirees and the less unfortunate alike. Group form is preferred by companies who would like to give employees Health Insurance as employment benefit. Disability and permanent or long-term nursing can also be included or covered by the insurance policy. A monthly premium or tax is paid and in return their have benefit of medical expense payment with possible inclusion of medication, hospitalization etc.
Exclusions: Health insurance may be restricted or limited and partial or full payment by member requirements. Government health insurance like Medicare and Medicaid is designed to help those in their later years or for those that are less fortunate.
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When evaluating plans, Medicare insurance, is important to consider. Check the site today to see other insurance topics covered like Medicaid eligibility as well as others.
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