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Why do group health insurance plans usually have better coverage and lower premiums than individuals plans?
Wiki User
∙ 11y ago
Since group health insurance plans usually cover say 500 heads at a time, the Insurance Company has the option to offer lower premiums for economy,than charging for an individual policy. Whether group health insurance plans have better coverage is doubtful because claims are entertained on individual basis and are to follow guidelines applicable to all.
Wiki User
∙ 11y ago
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What is industrial life insurance?
Industrial life insurance is insurance sold to individuals that cannot afford large policies, usually in amounts such as $1000. The premiums are collected weekly usually at the policyowner
What is "professional indemnity insurance", and how much does it usually cost per year?
it covers profeccionals against negligence during the preformance of their job. Doctors are a prime example, called malpractice coverage. Premiums would depend on type coverage and amount coverage.
What type of life insurance is used as mortgage insurance?
Usually a level term life insurance policy would be used for mortgage loan life insurance protection. Level term offers coverage for a duration of 10, 15, 20 or 30 years with a level premium and level amount of coverage provided by the policy for the entire duration of coverage. Another option is decreasing term life insurance where the premiums remain level but the amount of life insurance coverage decreases each year throughout the life of the term insurance policy.
Is certificate of insurance binding?
No, there is usually some stipulations to a certificate of insurance - such as the premiums must be paid.
Dose the amount life insurance change after a certain age?
A change in the amount of life insurance provided by your life insurance policy is determined by the coverage you have. A permanent life insurance policy usually provides the same amount of life insurance protection for your entire lifetime, as long as you pay the premiums. A term life insurance policy lasts for a temporary period of time. Usually, term life policies are issued for 1-30 years. A 10 year term life insurance policy provides protection for 10 years. if you outlive your policy term, the coverage expires. A level term life insurance policy provides coverage and premiums that remain the same each year for the entire term of your policy. A decreasing term life insurance policy provides premiums that remain the same each year, but the amount of life insurance decreases each year until the end of your policy term. There are other term life insurance plans that may provide less coverage after a certain age, or your policy term expires after a certain age.
By how many ways I can pay my Insurance Premiums?
You can pay your insurance premiums in many ways. Usually, you can pay it with a company plan (if you work), through cash, or credit card.
What insurance provides medical and property damage coverage if you are in an accident with someone who does not have insurance?
Usually your own insurance.
What proof do you need to be a domestic partner on someone's health insurance?
This is determined by the employer who is paying the premiums for coverage. If there is a local domestic partnership registry available, then the requirement is usually a certificate of registration of domestic partnership. Otherwise, the requirement can be merely a notarized affidavit of domestic partnership in a format prescribed by the employer. Assuming the policy that has been purchased by the employer offers domestic partner coverage, then the insurance company will provide coverage to anyone that the employer says is the worker's domestic partner. The insurance company will then charge the employer more for that worker's coverage.
Spend Less With An Auto Insurance Calculator?
An auto insurance calculator is usually provided by a single auto insurance company directly to drivers. It can be a great tool for studying coverage and for finding new ways to decrease the overall cost of any car insurance policy when used correctly by a driver. A good auto insurance calculator will accomplish several things for a driver. It will help a driver to see how a certain insurer prices different aspects of coverage, including comprehensive, liability, and collision programs, and it will help a driver to find ways to decrease his or her overall coverage premiums by pointing out the most expensive areas of coverage. For instance, if you use an auto insurance calculator and discover that you're paying a lot for personal injury protection, you might decide to ask an insurance provider about discounts for this type of coverage or you may decide to adjust your limits. Try to use an insurance calculator every few months to keep your quotes as low as possible. This is a great way to stay on top of your insurance policy and your premiums.
Can business interruption insurance be purchased by itself?
"Business interruption insurance can be purchased by itself, but for optimal coverage, it is usually used to supplement Property insurance or other types of coverage."
Is there a deductible on comprehensive coverage auto insurance?
Usually there is a deductible on comprehensive coverage auto insurance. The deductible can range in different amounts usually from 0 to $1000 or even higher if it is a very expense vehicle.
When will a person be required to have full coverage insurance?
usually you only need full coverage if you are financing or leasing your vehicle.
