By Krista Farmer
If your health, well-being and pocketbook are three things that are important to you, you probably understand the significance of health coverage. “But I don’t go to the doctor a lot,” you say. While you may not make many trips to the doctor, you never know when a medical emergency that could cost you thousands of dollars will occur; this is where health insurance steps in.
To help you better understand your health insurance policy, let’s define some terms you will need to be familiar with.
Copayment – You are required to pay this amount towards medical bills according to your health insurance policy. Your policy will list whether or not this is a dollar amount or a percentage. (more…)
Insurance is the business of spreading risk out among many. They remain in business by paying claims promptly. This leaves much room for fraud because, in order to be successful, insurance companies must sell many policies.
This presents many opportunities for skimming off the profits. The U.S. insurance industry consists of thousands of companies that collect more than $1.1 trillion in premiums each year, according to the Insurance Information Institute so the temptations are virtually endless. (more…)
Homeowners Insurance is supposed to protect us in case of disasters. That is what we have come to expect from our homeowners insurance over the years. But what if the disaster is the costliest in U.S. History? What if your insurance agent’s home and office were destroyed in the disaster also?
That is what happened to many customers and homeowners insurance agents and companies after Katrina hit the Gulf coast. Many agents’ homes, offices and insurance Companies’ claims centers were in the same situation as their clients due to the storms. So what did they do? They set up “office” in tents and mobile trailers. Then Hurricane Rita blew away these temporary offices and the agents and companies set them up again. These temporary shelters acted as a communications center for all people in the surrounding areas. Local people would come by to ask questions, meet with their claims adjustors and just catch up on the news with their neighbors. (more…)