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An insurance company helps people prepare for the unexpected disasters that can befall them as well as the expected ones. They do this by charging their clients a yearly amount which they place in financial investments that make the money grow. With this money, they have the means to pay for the claims that their clients file.
How Premiums Are SetAn insurance company bases its operations on the amount of risk that each particular client presents to them. For example, for a health insurance company one client may present a high risk because he smokes. Another client may present a low risk because this particular client quit smoking more than five years ago. Because the client who continues to smoke has more of a chance of contracting several diseases such as emphysema, lung cancer and Heart disease, the insurance company will force this client to pay a higher amount each year than the former smoker.
Types of Insurance CompaniesSometimes, insurance companies specialize in one type of insurance. For example, health insurance companies, auto insurance companies and life insurance companies will all sell one type of insurance. But other insurance companies sell several types of insurance. The advantage of purchasing insurance with an insurance company that sells more than one type of insurance is that this company will have a discounted rate for these clients.
Insurance Companies Finance RetirementPeople can purchase the retirement vehicles called annuities from an insurance company. These types of investments offer their clients retirement income for the rest of their lives. Each client invests a lump sum of money with the insurance company. After they have retired, the insurance company begins to pay each client a monthly sum based on the amount the client invested and the client's life expectancy. These payments are guaranteed to go to each client even if they live longer than was expected.
Everyone who drives has the potential to be in a car collision. Everybody can fall ill or be injured in an accident. Their homes can burn down leaving them without a place to live. They may also pass away before they have had the chance to finish paying off all of their financial obligations. All of these circumstances as well as many others are why an insurance company sells people insurance policies. These policies give people the money they need to repair or replace the damages they suffer after they have experienced loss.
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Where can I find information on life insurance premiums?
You can find information of life insurance premiums, and what their purposes are by asking your current insurance company provider for information on it.
How many inventory cycles in a year?
How many inventory cycles in a year depends entirely on your company policy and the policy you have agreed with your insurance company. It could be that every six months you have to conduct a stock-take (for insurance purposes). Some companies may hold a stock-take every three months - there is not hard or fast rules. Most companies take advice from their insurance company.
Who is at fault for insurance purposes in a hit and run and I was the victim?
In a case that is like this, the insurance company can pay under uninsured motorist and attempt to collect when the hit and run driver is found. Although it is not your fault the insurance company will keep a record and note if you have a repeat of this happening.
Is 'significant other' the same as spouse for medicare purposes in California?
This depends on the state laws, and the insurance company. Contact either your states dept of insurance or the carrier you are insured with.
Is peerless insurance a reliable insurance company?
Yes, Peerless Insurance seems to be a reliable insurance company and not one of the many insurance scams that plagues the insurance scene. Good luck!
Can your employer insist that you carry full coverage auto insurance?
If your vehicle is being used for company/business purposes, yes.
Who is the parent company of McGraw Power Sport Insurance?
The parent company of the McGraw Power Sport Insurance company is the Pacific Specialty Insurance Company. The McGraw Power Sport Insurance company has many affiliates including Western Service Contract Corp. and McGraw Insurance.
What is the difference between an insurance company and a broker?
a broker sells the insurance, (is a sales person for many companies generally) and insurance company is the actual company that 'owns' the product, or company it's self........
What does the Circle Insurance company insure?
The Circe Insurance company insures many things. The Circle Insurance company insures things such as important and expensive pieces of jewelry and other accessories.
What does the company Brown Insurance offer?
Brown Insurance is a company which offers many insurance deals and offers cheap insurance quotes for their customers as Brown Insurance has been in the insurance market for over 70 years.
What is a good insurance company for a Maserati?
There are many good insurance companies for luxury sports cars such as the Maserati. One specific insurance company that would be good is TD Insurance.
What is the purpose of a vacheron?
A vacheron can be used for many purposes. However, its main purpose is generally to be used as a certificate used for insurance purposes for an individual.
