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What health insurance plan is sponsored by a large company who forms a contract with certain health agencies to provide certain types of health care at reduced rates?
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∙ 7y ago
preferred provider organization (ppo)
Giovanny Medhurst
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What health insurance plan is sponsored by a large company who forms a contract with certain health agencies to provide certain types of health care at a reduced rate?
preferred provider organization (ppo)
How an auto insurance policy is a binding legal contract?
An insurance policy in combination with the application for insurance together make a legally binding contract. The application is the acceptance of the quote along with certain guarantees made by the applicant. As long as the truth is given on the application then the application is accepted by the company and it is a bound contract. If it is later found that you lied on the application, the contract is broken and the company does not have to abide by their part of the agreement either.
Is a contract of Insurance a wager Explain?
Yes, insurance is a form of a wager. In legal terms it is called an aleatory contract which means that the contract participants agree ahead of time to take certain action in response to a defined event. For example, if you take out a health insurance policy (the contract) You are betting that you WILL fall ill, while the insurance company is betting you WON'T fall ill. As long as you remain healthy they get to keep your premium. If you fall ill they have to pay your medical bills.
What does an insurance policy explain?
An insurance policy does not "explain" anything as such. Instead, it is a contract by which the insurance company assumes the financial risk of loss for certain occurrences from the insured in return for the payment of a premium. Part of the contract defines the scope of the risks that that the insurer is assuming; other parts define certain terms used in the insurance policy, and still other parts define what must occur or be done to trigger coverage. To that extent, the insurance policy is providing an explanation of its terms and conditions.
What is a general agency?
A general agency is usually an agency that allows other agencies to write business through them for specialty kinds of insurance business. A general agency may offer unusual types of insurance that an Independent Agency may need once in a while and needs the expertise and access to certain companies or products that they would not normally need. I have used general agencies to write horse mortality insurance, insurance for county and city governments packages, certain farming insurance packages, and other things that I need help in experts and company access. I would not write enough of these type of business to learn everything about these businesses needs and I would not have enough of this business to obtain a contract with companies that put together these special packages to meet the clients needs.
What is the difference between life insurance and health insurance?
Life insurance is a contract providing for payment of a sum of money to the person assured or, failing him, to the person entitled to receive the same, on the happening of certain event. Health insurance is a contract between the policy holder and the insurance service provider whereby the later takes the responsibility to cover the insured person against certain illness/disease as specified in the policy bond up to an agreed sum insured against payment of premium payable yearly.
What is An insurance policy is a legal contract?
Yea, insurance policy is a legal contraft providing for payment of a sum of money to the person assured or, failing him, to the person entitled to receive the same, on the happening of certain event. Any breach of contract by either party can be settled in the Court of Law.
What does agreement to furnish insurance policy?
Insurance is a contract or agreement providing for payment of a sum of money to the person assured or, failing him, to the person entitled to receive the same, on the happening of certain event. This agreement is the very basis or foundation of an insurance policy bond.
Will your entire roof be replaced when tree falls and damages only part?
No, your insurance contract specifies coverage for certain damages that result from the covered perils listed on your policy. Homeowners insurance can not provide coverage for things that are not damaged.
How much coverage does insurance give toward the osteoporosis treatments?
Different insurance agencies allot different amounts towards certain types of treatments. In order to find out how much your insurance will cover any treatment, is important to talk to your prescriber. They can tell you what kind of medication to get and how much you will have to contribute out-of-pocket.
What is the address to send auto insurance policy on a Ford Lease?
All you need to do is to look on your lease contract and it will give you not only the address but more importantly how the insurance must be stated. Generally in the case of a lease you agree to keep certain high liability limits, certain deductibles, and to list the finance company as an additional insured as well as the loss payee on your auto insurance policy. If you don't carry it exactly as the contract states the least that will happen is that they will provide such insurance and you will be charged for it, and the most they can do is to repossess the vehicle and sue you for all costs, balances, etc.
Is it illegal for your wife to be on her mothers car insurance policy in Wisconsin?
It is not very smart though it may not be illegal. You are certainly jeopardizing your insurance coverage by not telling the insurance company the truth. An insurance policy is a legal and binding contract where both parties agree to certain terms. You agree to tell the insurance company the truth about drivers, place of residence, and other factors and to pay the premiums and the insurance company agrees to take on certain risks of yours when driving a vehicle and to pay claims that arise from said owning and operating of the vehicle. If you do not tell the truth then you have broken the contract and the insurance company is then not required to hold up their end of the contract. If a big claim were to occur when your wife hit and maybe killed someone would you then want to wonder whether or not the insurance company will pay this claim or would you be solely responsible when the people sue you. This is what you are risking when you lie to save $20 on your insurance as well as committing the criminal act of fraud.
