Archive

Posts Tagged ‘Insurance Articles’

How To Get The Best Family Medical Insurance.

October 20th, 2018 No comments

There are some great deals to be had on family medical insurance, however the real difficulty is actually finding them.

There were some statistics that were released recently showed that over 3 quarters of the people who bought medical insurance had paid more than they should have done.

Although this seems like a large section of the population, there is a relatively easy way to get around this. Just follow the following guidelines.

The reason people do not find the best priced companies to buy policies from, is because the prices vary greatly between them. It means to get the best prices, a person that is looking for a policy would have to search through lots of different companies and request a lot of quotes.

But who is prepared to spend all that time and effort? If you are anything like I used to be, then you search and compare quotes for the easiest ones to find and then use those to make a decision on the best one to go for. It really didn’t seem worth going to anymore trouble than that.

This is where things have changes very for the better, which is great. What people are able to do now, is to use a price comparison website. Each user inputs what they are looking for and the area in which they live. Then the website goes out to all the companies on their behalf and gets the quotes.

It is actually very easy to do and complete. Now an individual who uses this method is able to complete in just a few minutes, what it may have taken days or even weeks to do under their own steam.

This process will only work properly however, as long as you are using a genuine price comparison site. Make sure that any site you go to is completely independent of any insurance companies, and is not attempting to sell any policies itself. Otherwise the choices will not cover all the available options.

About the Author:

The Availability Of Car Insurance Coverage In The USA

October 19th, 2018 Comments off

What types of automobile insurance policies is available in the USA? This question is often asked and very significant, seeing it is compulsory to have auto insurance.

The consumer may be protected with different types of coverage depending on what coverage the insurer purchases. Many states require that motorists carry liability insurance coverage to cover the expenses in the event of an automobile accident. Some states, for example Wisconsin, have more flexible “proof of financial responsibility” requirements.

Liability insurance covers claims against the policy holder in the United States. Generally, any other motorist of the insured vehicles, provided they do not live at the same address as the policy holder, and are not specifically excluded on the policy. In the case of those living at the same address, their names must be specified to be covered on the policy. Thus it is essential, for example, when a family member comes of driving age they must be added to the policy. Sometimes Liability insurance does not cover the policy holder when driving other vehicles than their own.

When you drive another party’s motor car, their policy is obliged to cover you. Non-owners policies may be offered that would cover an insured on any car they drive. This coverage is available only to those who do not own their own vehicle and is sometimes mandatory by the government for drivers who have previously been found at fault in an accident. Non-owners insurance policies are also known as Named Operator Policies. Drivers whose drivers license have been suspended will find these policies useful.

In The Main, liability coverage covers when you rent a car. Comprehensive insurance policies (“full coverage”) normally also apply to the vehicle you rent, although this should be verified beforehand. Full coverage insurance premiums are based on, among other factors, the value of the insured’s vehicle. However, this type of coverage cannot apply to rental cars because the insurance company does not want to assume responsibility for a claim greater than the value of the insured’s vehicle.

Most rental auto companies offer insurance to cover damage to the rental vehicle. The above policies may be unnecessary for many users of credit cards, like Visa and MasterCard, seeing that the companies now cater for alternative collision damage coverage to rental motorcars provided that the transaction is processed while utilizing one of their cards. These benefits are restrictive to the vehicle types that are covered.

About the Author:

What You Need to Know About Virginia Health Insurance Quotes

October 8th, 2018 Comments off

The purpose of Virginia medical insurance is to protect you from financial losses caused by an illness or accidents. Since you are a consumer, it is important to understand the Virginia medical insurance policies open to you and the full coverage of the health plan which you think is best suited to you and your familys needs.

Be informed and educated when you review your Virginia health insurance quotes. Determine exactly what you need for coverage and what you can do without. When you getting VA health insurance quotes, set the deductible levels as high as you can. This can save you hundreds since this is a major part of the calculation of your rates.

Don’t pass on those annual health examines if you want great rates and coverage. With up to date records you are able to keep your Virginia health insurance rates low.

If you have any questions after reading your policy in detail, ask them! Make sure that anything that is unclear you ask the insurance company about. Never sign the documents until you have all of your questions answered.

If you want more information and tips, you can also check out the Virginia Bureau of Insurance. They have information and details about Virginia medical insurance for you to read.

Do comparison shopping when getting VA medical insurance quotes. There are many online quote sites that can offer you the best premium plans. You can also go to offices and consult an insurance agent for quotes however, this will take a lot of time. These sites not only give you better quotes but you also save on overhead charges as well as agents commissions.

As a Virginian and when purchasing Virginia medical insurance, it is your right to get quality insurance and great coverages and rates. It is also your VA health insurance companys responsibility to be fair and give prompt claim payments.

Keep on top of what is going on within the State as well as with your insurance company so that you get the health insurance care that you expect. If there are any questions or concerns, ask your Virginia health insurance company for assistance.

About the Author:

Find Out The Story About ARMs

September 24th, 2018 Comments off

You have a lot of choices to make in buying a house and deciding upon a home loan, and in today’s confusing loan world, you now also have to choose the index that you want for your Adjustable Rate Mortgage (ARM).

The index of an ARM (Adjustable Rate Mortgage) is the financial standard upon which the adjustments will be made. Various indices are employed, including government treasury instruments, the Fed Fund rate or LIBOR.

The rate on an ARM is adjusted periodically upwards, or downwards, based upon the movement in the general interest rate environment, but tied to a specific instrument. If your index is CDs, and CDs go up, your mortgage rate increases. ARMS also contain adjustment caps, so that you can limit the exposure as to how high your mortgage rate can go, even if your index rate continues to go up, which is good if you just had a change, and the rates go up again. Of course, the reverse can happen, and if your rate has just been readjusted at a high rate, and then the index moves down, you cannot take advantage of that until your next readjustment period.

ARMs can be tied to any number underlying instruments, such as the 90 day U.S. Treasury Bill. Another basis that is frequently used is the Federal Funds Rate. Many of the international banks will use the LIBOR as the index rate for loans.

Deciding upon which index is best for you will depend on your own situation as well as your view of interest rate movements. Adjustable rate mortgages that use CDs as the reference rate tend to change more quickly. Adjustable rate mortgages that use T Bills will change more slowly. LIBOR is one of the quickest moving indices, so if you want to take advantage of rapidly falling interest rates, this is the one to use.

An option ARM is one in which the interest rate adjusts monthly and the payment adjusts every year, and the borrower is offered an “option” on how large a payment he wants to make. The options that are offered represent interest-only payments, and a lowest possible payment that can’t be less than the interest-only payment. Those using this option should be aware of negative amortization, because they may never repay any of the principal if they always choose the lowest amount.

There are so many choices in the home loan market today that the new home buyer should not try to cover this field by himself but should instead call a certified mortgage expert.

About the Author:

Medical Debt and Personal Bankruptcy: Time for Reform

September 23rd, 2018 Comments off

Republican, Democrat, Left, Right, Centrist… No matter how citizens in this nation may choose to politically identify ourselves, we are all pretty much in agreement about one thing: This country needs health care reform. Our suggestions as to what shape that reform should come in may not be identical but there is no denying that we are currently on the fast track to bankruptcy if meaningful reform is delayed much longer.

In fact, many individual Americans have already been bankrupted through devastating encounters with our current health care system. This past summer, the respected American Journal of Medicine released new study findings that revealed some staggering statistics that reveal the role that medical expenses play in personal bankruptcy filings. Working to reduce the margin of error in their findings, the authors applied a stringency to the study that made it a first of its kind: a truly random sample of bankruptcy filers nationwide, followed up with detailed personal interviews of participants. Medical causes of bankruptcy were defined to include medical bills and loss of income due to health issues. In conclusion, they discovered that more than 60% of personal bankruptcy filings in 2007 had significant medically related expenses that pushed individuals and families over the financial edge to file for bankruptcy.

Dr. Steffie Woolhandler, one of the study’s authors, voiced her conclusions in an interview with CNN saying, “Unless you’re a Warren Buffett or Bill Gates, you ‘re one illness away from financial ruin in this country If an illness is long enough and expensive enough, private insurance offers very little protection against medical bankruptcy, and that’s the major finding in our study.” There are those who find Dr. Woolhandler’s words a little radical. A spokesman for the Washington, D.C. based nonpartisan policy research foundation, The Center for Studying Health System Change, admitted some reservations about the findings but at the same time concluded that 1 in 5 American families are “unduly strained” by medical bills.

In 1981, only 8% of families filing for bankruptcy claimed to have done so in the wake of a major medical crisis. (The accuracy of that figure is somewhat debatable since court records do not indicate the origin of debt that is handled by collection agencies, possibly obscuring debt generated by doctor or hospital bills.) In 2001, a major study concluded that over 46% of personal bankruptcies were medically related. The American Journal of Medicine study’s most recent conclusions of 61% used data from 2007, indicating an alarming trend and numbers which interestingly predate the fallout of our economy’s current recession.

The stigma that hangs over personal bankruptcy in our country is in part due to the public’s common misunderstanding of what the average filer looks like; many people have a mental image of a hapless slouch. The American Journal of Medicine’s study reveals this misapprehension for the untruth that it is. Most of the debtors surveyed were middle class, middle aged and college educated. 75% of the debtors had health insurance coverage at the onset of their financial and health problems. Typically this insurance left them with the commonplace gaps of high premiums, copayments, hefty deductibles and a range of uncovered medical services. It is important to note that policy rescission is a normative practice among medical insurance companies with 25% cancelling an individual’s policy immediately upon a disability diagnosis and another 25% of companies cancelling within one year of the diagnosis.

It is hard to ignore that the middle class’ back is being gradually broken under the weight of the current insurance system. Health insurance premiums skyrocket every six months and deductibles on most policies follow a similar skyward pattern annually. Proponents of the American Dream have traditionally contended that what is bad for the middle class is bad for the nation as a whole. Currently, it is estimated that the U.S. will spend 17.6% of its GDP (Gross Domestic Product) on health care in 2009. The future holds an ever upward spiral if reforms are not soon brought into play. A further consideration of this staggering GDP statistic is to realize that it does not and cannot take into account all the associated costs that medically related bankruptcy of individuals or small businesses impose on the economy and society.

Do yourself a favor as a good citizen and read the American Journal of Medicine’s study in full. (You can find it quickly online at amjmed.com, Vol. 122, Issue 8, pp. 741 to 746.) Be informed, do some further fact scouting and let your congress representative and senator know that the average citizen wants and needs access to the quality of health insurance elected officials are privy to.

About the Author: