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Category Archives: Insurance

Be An Insurance Adjuster

  • Word processing
  • Business classes or work experience
  • Computer applications and programs
  • English and language arts
  • Technical writing
  • Mathematics, including algebra, geometry and business math
  • Consumer and business law

Generally, employers are looking for candidates that have a bachelor’s degree, but if you have years of experience in the insurance field and working with claims and can prove you can do the work, you might be able to convince them you are right for the job. Even with body repair and auto mechanics experience you can get an entry-level position in handling auto claims. Some states do require adjusters and examiners to be licensed. Check for adjuster regulations in your state to find out more. An adjuster’s job can be an exciting one, as no two claims are alike and you meet many people in your work. Some expert witnesses you might work with are accountants, contractors, police, lawyers, and doctors.

Critical Illness Insurance

If you decide you want to pay for hospital fees yourself, you can use your insurance money to avoid drawing money out of personal savings, help to pay off debt, allows your partner to take time off work to look after you or any other way you choose. There are different levels of critical illness insurance, and the one you decide on depends on how much you can afford. Having basic coverage will usually cover five or six conditions, while comprehensive coverage will cover all of the illnesses the insurance company has to offer. Comprehensive coverage will cost more, but a good company should provide about 80% coverage, even for basic insurance.

Costs of insurance will also depend on your age, health and other lifestyle factors. The necessity of having critical illness insurance [http://www.critical-illness-covers.info] is often higher than people might think. Statistics show that a person is more likely to contract a critical illness than they are to die before the age of 75. A critical illness can drastically change your lifestyle because you may not be in a condition to work as you had before experiencing the illness. Insurance can help you financially during treatment as well as after recovery to help you maintain a good quality of life. Many companies will also financially help out your family in case of your own death.

Long Term Care Insurance

Since their levels of care were so different (my mother needed most things done for her), there weren’t any facilities that would allow them to be together. They’d be across the street from each other in different wings of the home. After fifty-five years of marriage, my parents were adamant about wanting to be together in their own home, in their own bed, where they could continue to cuddle and kiss–as they so frequently did. And, since my father was so “difficult” with a terrible temper and quite a long record of manipulative disruptive behaviors, the homes didn’t want to deal with him anyway.

It was challenging, but I committed to keeping my parents in their own home and attending Adult Day Health Care five days a week. Then, with the help of two marvelous caregivers, after four more years of loving each other–they passed, just a few months apart. Even though caring for every aspect of my parents’ last years was the hardest thing I have ever done–I am proud to say I gave them the best end-of-life I possibly could.

Had I only known to insist that we buy Long-Term Care Insurance for them prior to their illnesses–their years of in-home care could have been paid for, and I could have saved myself so much heartache, not to mention a small fortune. I encourage you to learn from my mistake and look into LTC insurance long before you need it–for your loved ones as well as yourself. Like fire insurance, hopefully, you’ll never have to use it.

THREE WAYS TO PAY FOR LONG-TERM CARE

1. Pay for in-home caregivers and assisted living/nursing homes out of pocket. This is expensive and can often deplete a family’s life savings.

2. Meet a very specific poverty level and qualify for government assistance through the Medicaid program. Unfortunately, options are limited, only paying for nursing homes that accept Medicaid.

3. Buy a Comprehensive Long-Term Care Insurance policy. This protects your family’s assets from the rising costs of caring for someone who needs full time care. An employer might pay the tax-deductible premiums. Consider buying it at a younger age, when more affordable and accessible. It must be bought before a major illness strikes. Medicare and regular health insurance does not pay for long-term care. The average cost for a person who needs long-term care is $40-$70,000 annually, depending on where you live, plus the cost to the family caregiver who may have to leave their job.

Reduce Insurance Costs

Adjust Your Deductibles. Perhaps you don’t need a $200 home deduction. If you can live with a deductible of $500 or more you can save significantly from year to year.

Special Discounts. Depending on your age, there may be special discounts you can take that will also reduce your premiums.

Examine Your Policy. Oh, we do think they are correct – right? Well, if your address is incorrect you could be paying more than you should. Check to make sure that your correct zip code is listed…it could cost you money if your insurer has you living in another neighborhood.

Abstain From Bad Habits. If you do not smoke or drink, make sure that your insurance company knows this. Your rate will drop accordingly if this is news to them.

Eat Your Losses. If you have a small claim, consider not submitting this information to the insurance company. Any claims you make can push up your rates down the road thereby costing your more in the long run.

Pay Now, Save Later. Instead of breaking up your premium into monthly payments, consider paying the entire premium at one time. Usually, insurers tack on a surcharge for the privilege of monthly payments.

Cut Business Insurance

Make a list of the actions you’ve taken to reduce your risk. I’ll be able to use that list to negotiate your rates.

Minimize your claims. The businesses that will get the highest rate increases, or not be able to get insurance at all, will be those with frequent small losses or who ignored loss control recommendations.

Make sure any new equipment or buildings are installed or constructed in a manner desirable to the insurance company. Consult with your insurance specialist BEFORE proceeding with construction or installation and avoid nasty surprises on the back-end.

Increase your deductibles and retain more risk – most companies look favorably upon clients with higher deductibles. It shows you are willing to cover the small day-to-day stuff, and use your insurance for large losses – as it is intended. This will help lower your rates, too.

If possible, use higher coinsurance formulas to help lower rates.

Be sure your insurance is providing proper coverage amounts. You may be dangerously underinsured in some instances, or paying for coverage you don’t need in others. Be sure to make contact with your insurance specialist.

Insurance Credit Scoring

Isn’t it interesting that the score most important in our financial lives, our consumer credit score does not even contain full disclosure? As stated above the Federal Trade Commission has ruled that it is OK for Fair Isaac & Co not to disclose the algorithms used in this process, but what about consumer rights.

While it is important to understand what a FICO score is, it is not the main issue of this paper, insurance rates are. So where is the connection? All the public knows is that Fair Isaac tells us there is a high correlation between people with bad credit and high risk drivers. This notion is insane and from what I can see from this black box approach, there is no real causation between the two.

This type of reasoning is similar to convicting a person of something before they have even committed a crime. For instance, let’s say I do a study and that study shows there is a high correlation between criminals and people with bad credit. Is this to say that just because you have bad credit you are more likely to commit a crime and therefore you should be profiled or perhaps locked up because you are a risk to society?

This system is discriminating against minorities, disabled and in my case college students among others. Fair Isaac & Co claims that they cannot show the sophisticated algorithms they use to calculate these correlations and scores because they fear that they would be giving up valuable proprietary information that was very costly to develop and maintain. What about the cost to consumer’s who may be paying higher rates or in worse cases even denied insurance based on these practices.

The Equal Credit Opportunity Act forbids creditors from considering race, sex, marital status, national origin, and religion, but if we don’t even know how these companies are calculating these scores, how in the world could we possibly know whether or not they are discriminating. This smoke and mirror approach is what many government agencies do to subtly discriminate and extort money from the American.

What about extortion? As I reflect on this topic extortion comes to mind. Webster defines extortion as to “obtain by force or compulsion.” By using such unfounded tactics consumers are forced into paying the higher rates. First of all, 90% of all insurance companies use this procedure; secondly in the interest of society legislation requires all Americans with cars to have car insurance. Living in a country where it is virtually impossible to live without a car doesn’t this present some force to pay the rates? Also, lets say you cannot afford to buy a car with cash, in which case you could obtain liability insurance alone and save quite a lot of money; but instead you take out a loan, the bank will require you to obtain full coverage auto insurance to cover them until you pay off the loan. While this case may not represent an extreme case of extortion it does give reason to ponder the connection.

Insurance companies tout themselves as representing peace of mind, protection and security, but at what cost. Over the past 10 years, I have spent roughly 20,000 dollars in car insurance, what have I claimed? Easily less than half and I totaled a car. Is insurance just a form of legalized gambling protected by government? The McCarran-Ferguson Act of 1944 exempts the insurance industry from antitrust laws, so here we are again without a choice; collusion is the rule not competition. Where are the ethics of lawmakers? Many states are screaming about this controversial issue and some states such as California have had some success, but with protection from top government what can consumers do?

Change in Insurance Training

Knowledge gained by insurance professionals during training are to be used. They are not for answering few questions in examination and then forgetting them. There is no end of values that insurance service can add in risk management in any kind of activities. And that is through the use of knowledge related to risk management techniques and also the knowledge related to activities. It may not be expected that every insurance professional will gain knowledge of every activity. But, he will do better if he is able to identify what knowledge to be used from where. This where can be external too.

There can be such training courses that are related to existing practices. But these are at the most basic level. It makes sense if there is a need of organized training on existing practices. There are regular changes in standards, regulations etc. that may create need of organized training to make them known to insurance professionals in formal way.

However, since Insurance service by nature is futuristic, there has to be emphasis on such topics that empowers the professionals to understand the future in scientific way with greater nuance. Such training prepares insurance professionals to go much deep in their profession and make the profession richer.

So, one thing that definitely need to be in the insurance related training is something about the future, something latest, something new, something that make the participants come out from the routine thinking and dive deep into topics related to finance, regulations and analytics or related to the special area of insurance.

All about Internet Insurance Leads

As the online market grows, the number of “garbage” leads increases accordingly; there is a huge amount of price-shoppers out there that cares more about getting a cheap policy than about getting a good one. And paying attention to such requests is not only a waste of time, but also a waste of money.That is why you should get pre-qualified leads. Internet insurance leads that have been filtered to eliminate unserious ones were found to have about 80% effectiveness.There are many lead services on the internet; what differences one from another is this filtering process.

There is no doubt about it: if you want to reach the largest amount of people possible across the nation, then you should start getting internet leads. It is the most cost-effective way to achieve an astonishing number of sales. And, of course, this huge number of potential customers is a great chance of getting plenty of referrals. Everyone knows someone that needs a policy. It’s the good old basic equation: More customers = more referrals.

Be sure to choose a lead service that fulfills your needs, have them pre-eliminate those dead-end quote requests, and the rest is doing what you are good for, that means, selling insurance policies.

If you need healing, you pay a visit to a physician. If you want to get yourself a new car, you don’t enter a pharmacy to buy it. It’s that simple: if you really want to increase the amount of your customers, then you need to get in touch with a quality internet insurance leads service provider. That is what makes the difference in the insurance world nowadays.

Negotiate A Settlement

You’re stunned. You can’t believe what Strong is trying to pull. You say, “I’ve been miserable! There was no way I could get back to work because of the pain in my neck and back.”

Strong shift’s in his seat and a victorious look (one that says he knows it all) begins to march across his face. At that point he predictably states, “Look, I can tell you, after handling thousands of cases like yours, that the discomfort you may have had, for a couple of days at the most, are relatively minor. They don’t even come close to justifying the three week’s of work you lost and the disability you and your doctor are claiming”.

Now you’re thunderstruck! He smiles to himself and comes at you from another angle, “I’ve seen thousands of cases like yours and I’ve had more than my share of exposure to personal injury claims, examinations, doctor-talk and recovery – – the whole nine yards. I’ve seen physical trauma at its slightest and its worst. Any judge or jury would know, once they heard about your so-called ‘injuries’ that your physical problems were almost non-existent”.

He’ll take a minute to let that sink in and then he’ll attempt to sway you even more by telling you he can prove your time lost from work was not compatible with the injury involved. He’ll hint around about some “independent information” he’s supposedly gathered from your neighbors and/or business associates, which indicate you’ve been involved in “very active” physical activities since the accident.

Once he lets that one sink in he’ll ramble on about the “independent examination” the doctor hired by Granite Mountain executed, telling you, with outrageous confidence, that his doctors Medical Report states there was little, if anything, wrong with you. Then he’ll surely try this one on for size: “My doctor is a professional .The only people he ever sees are those who’ve been in motor vehicle accidents. That’s what he does all day long, check out personal injury claims like yours. His report clearly states your physical problems were almost non-existent”.

He hums a happy tune to himself as he observes the amazement marching across your face and that drum beat he’s heard so very often begins to pound away within the gray matter between his ears: Boom/Boom/Boom, declaring, “I gotcha!, I gotcha!, I gotcha!, I gotcha!”

If you let Strong get away with that than his attempt at downgrading your disability will have been successful. As a way of “proving” what happened to you wasn’t serious he’ll describe your “so-called injuries” with fancy medical language and then compare them to the more extreme types of personal injury problems or conditions he’s dealt with in the past. The implication being yours were obviously minor and have little, if any, value.

At that point he’ll read the statements and opinions in your own attending physicians Medical Report in such a way which, if not read properly, he’ll insist proves, “You may have been a little sore from a slight injury but it clearly states you certainly didn’t have any serious physical problems”. (You can bet every dollar in your wallet that he’s made that statement several thousand times)!

You’re quickly discovering that neither Adjuster I. M. Strong nor his supervisors at Granite Mountain Insurance are going to be fair. They’re out to take advantage of you. That’s the name of their game and that’s what they get paid to do. Question: Is that really true? Answer: Yes, it’s really true. Take it from Dan, I was on that firing line for 30 years!

Info of Credit Card Insurance

I took out my credit card protection cover last November . I merrily watched the monthly payments being taken up to date. I recently made a claim. (I had a heart attack and had to be off work for 8 weeks) I sent off for the claim forms, I sent them back, together with doctor’s certificate; and waited. I eventually got a request from the insurance company asking me to prove that I was in work for the 6 months prior to taking out the insurance. What? You may ask! Why? Well I called them and asked them – Why? The answer was that it was a ‘condition of the policy’ that I had to have been in employment for the six months up to the time I took out the policy. ‘Why was ~I not asked for this information when I took out the policy? I asked. The answer: ‘You will have to ask your credit card company that, we just handle the claims. No amount of indignance of questioning got me a sensible response. I put the phone down in disgust. After all, My monthly payments were accepted with no quibble at all. Nobody asked me if I was in employment for the preceding six months when I signed on the dotted line for ‘payment protection’.

I decided to call the credit card company and all I got was an automated machine asking me for my sixteen-digit account number… ho hum. Been here before when I was trying to get them to send me out the claim form. I put the phone down.

Be warned. All is not what it seems to be. These guys will fall over themselves to sell you the payment protection. But you wait until you need to claim on it. It’s a different story then.