Want this question answered?
The real beneficiary from a mortgage insurance claim is ultimately the insurance company that provided you with the mortgage insurance in the first place.
I figured it out right after I posted (sorry!): they are called actuaries! Webster Mirriam says an actuary is, "a person who calculates insurance and annuity premiums, reserves, and dividends."
I had a large crack in my foundation and my homeowner's insurance refused to pay. When such a thing happens, it must be repaired immediately and the person you need to repair it must be an expert in foundation repairs. It cost me $5,800, plus another $1,000 because I choose to call in a structural engineer. I was angry with my insurance company; later learned that most (all?) insurance companies do not pay for cracks in foundations as they are very common.
Insurance? Sales, Marketing, IT, Management, Finance, Public Relations, Training & Development, Underwriting, Accounting, Medical Review (Nurses, Doctors, PA's), General Counsel (Attorneys, Legal Assistants), Customer Service (phones, e-mail, written correspondence), etc. Currently growing sectors of the insurance industry, with an increasing number of job opportunities expected over the next five years, include actuaries, appraisers, sales agents, and underwriters.
Life insurance can have a very low cost, if purchased at a young age, non smoker and good health. The premiums do not increase for the length of the insurance contract (unless you get an Annual Renewable Term). Term life insurance is cheaper than permanent life insurance, because of the mortality risk. In most cases, Term Life Insurance is sufficient to cover the protection needs for mortgage protection, or loans, or until children become financially independent. Free quotes can be obtaines on various websites, comparing different insurance companies. Ultimately, a good agent can find the best plan and company for you.
actuaries
The term actuaries refers to a person who calculates the insurance risks and and premiums. They have to judge the risks regarding life insurance to work out the premiums they should give to that person or company.
William Alexander Robertson has written: 'Actuarial theory' -- subject(s): Accounting, Annuities, Faculty of Actuaries in Scotland, Institute of Actuaries (Great Britain), Insurance, Life, Life Insurance, Mathematics
Normally a central bank does not offer insurance policies and therefore does not need actuaries.
Insurance jobs are also known as adjusters and actuaries. You'll need to go to college for 4 years to learn the field necessary to succeed in the insurance world.
Actuaries are people who deal with the financial impact of risk and uncertainty, are often employed by insurance companies. In the United States, one must pass a series of five preliminary exams to qualify for the Society of Actuaries.
The uses of probability could be for the lottery, black jack or, your math homework. Actuaries use probability factors to determine costs and risks. It is an entire science of its own and has a certification process. Insurance companies hire many actuaries to do probability calculations and create mortality tables.
No.
No. Unless the foundation problem happened because of an earthquake or flood (and you have insurance to cover both catastrophic events), then your insurance will not cover something that has degenerated with time.
Some examples of insurance jokes are: "The bold print giveth and the fine prints giveth away", "If irreverent priests are defrocked, and dishonest lawyers are disbarred, shouldn't difficult actuaries be deactivated.
usually have a college education, some special training in the insurance industry, and experience with the company. Actuaries typically have a college degree in actuary science, math, or statistics.
"Flood Insurance" will cover damage resulting from a Flood. Homeowners Insurance will not.