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The Difference Between Insurance Agents

Insurance AgentHaving any insurance policy is not enough to protect your property. You want to make sure that the insurance policy that you hold will protect your property properly. That is why you need to have a great insurance agent. Only a good agent will give you the insurance policy that is altered just for you. A good agent will listen to your needs, will make sure the policy carries high enough limits to protect you, and will be there for you in times of a claim.

Before you pay for your insurance, make sure you are choosing an agent that you can trust. Just because your best friend is an agent does not mean that she will do a great job with servicing your policy. Unfortunately, not all insurance agents are created equal.

It is a good idea to learn how insurance agents are different. It will save you time, money and will set your expectations. There are three types of insurance agents that you should know about: exclusive, direct and independent.

Exclusive or “captured” agents are the agents that deal only with one insurance company. They are very limited in providing a variety in premiums and coverage. If you are not happy with your premium on renewal, you are out of luck. The only way to get a better price on your policy is to change the agent and the insurance company all together.

Direct agents are employees of companies that you can reach by calling an 800 number. They will give you a quote the same day, probably, at the end of the conversation. Requesting a quote from direct agent will save you a little money, but you will not get personalized service. Each time you call the company to ask or submit a claim, you will speak with a different representative and will need to repeat your story all over again. In addition, the representative on the other end of the line will not take care of you as exclusive or independent agent would.

Independent agents do business with more than one insurance company. They can compare same coverage quotes with different providers and shop for the best premium. If you don’t like your policy renewal premium, independent agent will look for a better price, that way you will not change the agent, but change the insurance company that provides coverage for you. Independent agent always will give you personalized quote and special attention to you.

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Why Should You Opt For Comprehensive Health Insurance

Health InsuranceYou might have noticed how a small treatment at the hospital or a routine checkup can cost so much. A severe health problem can put a real dent on your finances. Such situations highlight the need for health insurance. It helps pay for the medical costs incurred, thus bringing them down so that you can concentrate on treatment and getting better.

How can comprehensive health insurance assist you?

There are many different types of health insurance policies available, out of which, the best is comprehensive health insurance. It offers extensive coverage and enables you to cut down medical costs by offering the facility of cashless hospitalisation. One of the key benefits that it provides is cashless coverage, which enables you to get treatment without paying cash in any of the hospitals that falls under the insurers network. With this cover there is no need to make arrangements for cash by liquidating assets or taking money from your saving account. You can use it to get treatment in a hospital in your city as well as another city.

There are many benefits that you can obtain from the policy such as payment for hospitalization, pre and post hospitalization expenses, domiciliary hospitalization and payment for critical illness. These are the basic coverage offered by the policy. At an additional charge you can opt for extra benefits such as daily hospital cash, childrens education fund, payment for accompanying person expenses, ambulance charges etc. Thus, comprehensive policy offers compensation for a wide range of medical expenses and brings down your financial burden considerably. By opting for a floater comprehensive policy, you can extend its benefits to your spouse and two dependent children. It is the best medical insurance in India because it offers 360 Degree protection and not just payment for hospitalization and medical treatments.

Coverage offered by this policy is available for a period of one year, after which it has to be renewed. Renewal of the policy without fail every year, entitles you to a discount which brings down the premium charges. You can also get a tax deduction taking this policy under Section 80 D of the Income Tax Act. There are many plans available, so you can select one that is suitable for your needs.

Now you can easily get comprehensive health insurance by applying for it online. Just visit the insurance companys website and fill their online application form. Submit it and the company will get back to your in a weeks time with policy documents. When the time comes to make a claim, fill the online claims form and submit it with relevant medical documents. Your claim will be processed quickly so that you can get the money needed to meet expenses.

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Understanding Car Insurance Basics

Insurance 1Most motor vehicle insurance providers usually offer different types of cover. The three most common include Third Party Only, Third Party Fire & Theft and Comprehensive. You might use all of these over the course of your driving career or just one, but in either case, you need to know what sets each type apart so you can select the one suited to your needs.

Third Party Only

Third Party Only insurance is often confused with Road Traffic Act Only insurance. The latter of these, which is usually not sold anymore, offers the absolute bare minimum you need to meet the requirements of the Road Traffic Act of 1988. Third Party Only insurance provides just a little more, exceeding what the Act requires. It provides liability cover to third parties (others involved in your accident), but that’s about it. You can use it to pay for damage or injury to others, their vehicles or other property they own, but it doesn’t protect you, your car or your property.

Third Party Fire & Theft

This type of insurance is more common than Third Party Only. It offers the third party liability cover of Third Party Only, but in addition, as the title insinuates, you also get protection from having your car stolen or damaged in a fire. It still will not cover injury to you or damages to your vehicle or property that result from an accident.

Comprehensive

Comprehensive covers everything Third Party Fire & Theft does, but you also can make claims for your own injuries, vehicle damage or property loss in accidents. You also might get other perks rolled into this type of cover, too, depending on the insurance provider you’re using. For instance, your insurance might cover getting you a rental vehicle free of charge while your own is being repaired. It also could cover things like roadside assistance.

Which Type of Insurance Should I Get?

Very generally, Third Party Only and Third Party Fire & Theft both are good options if you drive a relatively cheap car that it wouldn’t cost too much to fix or replace on your own if written off by the insurance company (totaled). You also might want to consider them if you feel sure you could do a lot of the repair work yourself. The decision of whether to use Third Party Only or Third Party Fire & Theft usually comes down to whether you feel it’s worth it to insure yourself, your car or your stuff a little more.

Young drivers also can find Third Party Only or Third Party Fire & Theft helpful. Although rates vary and sometimes are higher than what you’d pay for more cover, these options tend to be less expensive overall and, therefore, are attractive to young motorists who don’t have as much money to spare. For the same reason, anyone with a tight budget can investigate whether these choices are more economical for their specific circumstances. Another reason you might opt for them is because you want to deter yourself from making claims that could be covered under Comprehensive but which would drive up your rates over time.

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What Are The Different Types Of Fleet Insurance

Insurance 2Fleet insurance is basically a type of commercial insurance that gives coverage for all vehicles owned by a company. This way, the policy holder can have the same coverage for all the vehicles, or if they choose to, they can customize coverage based on specific needs. The vehicles covered do not necessarily have to be the same in make and model in order to be insured.

The coverage policy of fleet insurance will depend on your particular business needs.

Comprehensive and basic liability insurance is the most that you can get out of any insurance offers. This insurance is inclusive of repairs and medical expenses demanded when an incident involving any of your vehicle and driver occurs. Sometimes, insurance companies will offer coverage that temporarily replaces a vehicle when one of your own cannot be used. This type of policy will obviously cost more, but nonetheless, the offer is very well worth it.

In liability coverage, the coverage only includes the other party in an accident. If an accident is found to be at the fault of your driver, insurance covers the other party’s medical needs for injuries and repairs on the vehicle only. Your driver and your car will have no coverage. This is a much cheaper option for those who own the vehicle with completed payments and paperwork. However, for those who have vehicle that are still being loaned, the lender will usually require the comprehensive type of insurance.

No matter what type of coverage your vehicle gets, it is important to purchase a roadside assistance policy. This is useful in the event of accident or vehicle breakdown in the middle of the road. The service includes mechanical help and towing when needed.

Driver Requirements

Fleet insurance companies will only provide coverage when an individual with proper license is driving the vehicle. Aside form a standard driver’s license, a commercial driver’s license is also required. To further keep your insurance cost down, let your drivers attend driving seminars and drivers education classes. The insurance company will look into this and can see your drivers as low-risk individuals in terms of insurance claims.

Keeping Costs Low

There are many things you can do to get a discount. Aside from the previously mentioned driver education classes, you can hire drivers who have more experience in this type of job. Young, inexperienced drivers are usually seen by the insurance company to be high-risk.

You can also safeguard your car by installing an anti-theft device. It is not an alarm system, but rather it uses a coded key that allows the vehicle to shut down when the wrong key is used. Having this type of protection for your car is another way to cut down vehicle costs.

The most common discount you can avail is the multi-car discount. This is offered by insurance companies to businesses who want to insure a large number of vehicles.

The vehicle’s size and the type of activities it performs are factors that influence the cost of the policy. Ask a licensed insurance agent how to get further discounts to cut your costs.

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Understanding Your Car Insurance Glossary of Contract Terms

Insurance 3The best way to understand your car insurance policy is to become familiar with some of the terms used in your contract when signing up for a deal. It can be easy to get lost in insurance jargon and end up confused about some of the stipulations of your policy.

The car insurance glossary below lists several terms that you are likely to encounter when reading over your contract.

Cancellation Clause/Cooling off Period

The cancellation clause is an important part of your contract that gives both you and your insurer the right to cancel the policy within a short period of time after it has gone into effect. This period of time is typically around 14 days, so make sure to cancel within this time if you have any issues with the policy. If cancelled within this period, you will not need to provide any reason for why you wanted out of your policy.

Cash Surrender Value

This is the amount of money that you could get back if you cancel your insurance before the year has ended. Your contract will determine how much you can be reimbursed.

Compulsory Excess

A compulsory excess is the amount that you would have to pay if you ever make a claim. Your insurance will cover whatever is left to pay after the compulsory excess. People who are seen as a greater insurance risk will have to pay a higher compulsory excess.

Exclusion

Exclusion refers to some event that your insurer will not cover. You will not be able to make a claim if you receive any damages as a result of this stipulated event.

Geographical/Territorial Limits

These are the limits within which your car insurance will be considered valid. The typical geographical limit for your UK insurance will be within the UK. Take a look at your contract to see if you will be covered in any other countries.

Indemnity

An indemnity simply means that you have been compensated or have received reparation payments. It is when you have returned to the same state that you were in before a loss, after having your damages paid for and repaired.

Insured

This is simply a contract term that refers to the person who is being covered by the policy.

Legal Liability

Legal liability means that it is your responsibility to compensate someone after causing damages.

Partner

“Partner” is a term that may be used in your contract to refer to the person you are living with. They do not have to be married to you to be considered your partner.

Policyholder

This is another term for “insured.”

Proposer

“Proposer” is another term for both “insured” and “policyholder.” It is the person taking out insurance.

Registered Keeper

The register keeper of a vehicle has the responsibility of making sure that the car is licensed and for paying any tickets. The registered keeper, however, does not have to be the owner of the car. They just need to be the person who uses it.

Vision Service Plan Insurance – Covers the Necessities of Sight

At some point in everybody’s life there is going to be a need for corrective lens of some sort, whether they be glasses or contacts. As such it’s a good idea to look into and buy vision service plan insurance. Of course if this is provided for by the company you work for so much the better. Vision service plan insurance will generally cover the necessities of eye care leaving the cost of cosmetic enhancements up to the consumer to pay out of pocket.

Going online to find out about the nitty gritty of a vision service plan insurance policy and what they stereotypically provide is an easily facilitated task that any individual no matter how computer “challenged” they deem themselves to be. As with any type of insurance the cost of the plan depends on what type of coverage is sought after. The more you cover the more you will pay.

Most plans provide for an eye exam per year as well as lenses and frames for glasses or a set of contacts. Some plans can be set up with more coverage and a series of co payments. Coverage of getting glasses usually encompasses the following:

1. Prescribing. The eye exam and resulting prescription are done.

2. Frame selection. Help is given in choosing frames.

3. Accuracy of lenses. Once the lenses have been made and placed in the glasses making sure they have been done to specifications.

4. Fitting. At the time of pickup making sure that the glasses are adjusted in keeping with the individual’s facial structure, this ensures proper vision.

5. Adjustments. This takes care of any subsequent need for adjustment due to general wear and tear.

Getting contacts usually entails the eye exam, prescription and then trying on and testing the new pair of contacts. Oftentimes the ophthalmologist suggests testing a new set of contacts out for a week or two before ordering a new set. Most vision service insurance policies cover the aspects of contacts that are visually necessary but as mentioned previously leave the cost for cosmetic embellishments-such as colors-up to the patient.

Vision Insurance – How To Choose Eye Insurance Plans

Vision insurance can be very important to the many of us who have vision problems. Without it we would incur mounting vision care expenses that we would never see an end to. This is why our companies, school districts, colleges, and associations offer eye insurance to offset the cost of caring for our eyes. But what would happen if you didn’t have a vision insurance plan?

Some wonder all of the time whether or not they need vision insurance benefits and, surprisingly enough, some of the people who wonder such things are people who have vision problems. Yet a cause for such questions may be due to the fact these particular people have had bad experiences with vision insurance providers who have still slapped them with huge bills.

Something like that can easily make a patient wonder if they really need the insurance. Truth is, the bill may have been larger had there not been vision insurance in place. You do not want to have to pay an arm and a leg for your examination, contacts or glasses, or even surgical procedures. As simple as a couple of these sounds, they are very expensive.

First and foremost, keep in mind that vision insurance benefits are a supplement to health insurance. If you do not have an occupation or affiliation that will allow you to acquire insurance, you may want to consider purchasing insurance on your own to take care of your medical needs. Yet the selection aspect can be puzzling to some since there are different kinds of vision insurance available.

Among those insurances available are a discount vision plan and a vision benefits package. The discount vision plan provides you with vision care at a discounted rate that is fixed after an annual membership fee or premium (usually $0-$12) are met. There may also be a deductible (usually $0-$35) involved that must be met before full benefits are received.

The vision benefits package usually involves the same aspects as the discount vision plan, but also requires a co-pay (usually $10-$15) each time the patient needs to access eye care services. Obviously eye insurance is very affordable and can save you a bundle. If you must purchase vision insurance on your own, the primary companies you can do this through are Spectera, VSP, EyeMed, Davis Vision, and AlwaysCare.

No matter the type of insurance you choose, you are going to notice that vision insurance costs are less than if you had no insurance at all. You do not want to be put in financial straights because of an emergency you could not control.

Your eyes are an important part of your life and without your eyes it is more difficult to function in this seeing world and you do not want to hamper that functionality due to the fact you cannot afford the costs associated with eye care. That is why vision insurance is available at affordable rates to keep you from having to choose between your money and your eyes.

Keys To Keeping Good Medical Records

Medical records are an important part of any medical practice. Keeping good records is essential in avoiding an audit or possibly not getting payment from an insurance company. Several auditing groups include, licensing boards, payers, litigants, accreditation organizations, each one is looking for specific things in the documentation. Licensing boards want to find out if the doctor acted within his or her scope of practice or if they were grossly negligent. Payers want to determine if a claim is justified for reimbursement. Litigants want to know whether a breach happened during care. Accreditation organizations want to determine if their standards and elements of performance have been met by the doctor.

These are some general requirements for documentation.

Medical Records should be complete and are legible.
Documentation of each patient that is being seen should include a reason for the visit and a history that is relevant to the complaint, physical examination findings and any prior diagnostic test results, a full assessment and clinical impression and diagnosis, a plan for care and date the record along with signature of attending physician, nurse etc.
Reason for ordering tests. If this is not recorded, it can be easily proved that it was not necessary.
Past and present diagnoses whether it be from the patient or other past office visits from other physicians.
Appropriate health risk factors should be identified and noted.
Patient’s progress, response to changes in treatment, and a change of diagnosis should be clearly documented.
The CPT and ICD-9 codes reported on the insurance claim form should always be supported by the documentation in the medical record.

Meeting the standard of care medical records must:

Document any details regarding a patient’s history during the exam
Document referrals
Document refusals of treatment and the reason the patient has refused treatment
Document that the physician has clearly reviewed the possible consequences of refusing a specified treatment to the patient
Document encouragement of the physician of healthcare maintenance and risk reduction (example: weight loss or smoking)
Document advice that has been given to the patient (example: pink eye can spread to others in the family)
Document patient noncompliance with treatment regimen or referral, including the patient’s reason for not complying and advice to the patient about the risk of failing to take the advice given.

Good medical record keeping is an important part of good business. The consequences of errors can result in a denial of payment, audit, loss of contracts, accreditation or possible lawsuit brought on by a patient. It may take longer to do but in the end it benefits you, your practice and most important of all your patients.

Have Insurance For Your Medical Needs

Medical insurance has emerged as the need of the hour. The advantage of having insurance can be succinctly summarized into, ‘takes care of your medical bills.’ In case of emergencies or even in regular situations, people may require medical care. Sometimes it’s affordable but how about when it’s not? Well, you will most definitely end up in a very sticky situation that requires monetary help. With medical insurance or a health insurance plan, you’ll never have to worry about that kind of situation and consequently, save a life!

The need of insurance has increased considerably over the last few years. Factors such as an increase in cost of living, inflation, medical expenses and various other factors can be attributed to this reason. insurance can serve the need of taking care of your medical expenses, especially in times of emergencies. A Health insurance plan also serves this same purpose, but it facilitates a larger cover. It caters to covering medical expenses that can be incurred as part of the doctor’s consultation fees, medical tests, purchase of medicines, use of ambulance and X-rays and various other medical needs. In any case, they can prove to be very useful.

Corporate insurance are group policies, under which employees of an organisation are covered under the medical insurance of one policy provider. In this case, the premiums are paid by deducting a part of the employee’s salary. In most cases, medical insurance or a health insurance plan is included as part of the employee CTC. Some companies also provide cover to their employees in case of accidents, or in other words accident insurance. This is kind of insurance serves the need for bearing medical expenses, exclusively for accident cases. Accident insurance provides additional rider benefits, which may not be covered under an ordinary health insurance plan. Medical claim policies that pertain to these are usually bought on a professional basis. Drivers, sport car drivers, bike racers, etc. are usually the recipients for this kind of insurance.

Travel insurance, which is generally bought online, caters to insurance in foreign countries. This is because having a domestic insurance will not cover medical expenses arising in foreign countries. In the event of a foreign tour plan, it would prove to be more prudent to have travel insurance. There are several insurance companies in India that provide some of the best and the most beneficial travel insurance plans. Especially in countries like USA and Canada, where medical expenses are extremely high, travel insurance can and will prove to be a very beneficial and helpful companion.

Think About Future While Buying Medical Insurance

Buying a health insurance plan can be an expensive affair, but not buying it is even more expensive, when it comes to life. Simply put, if you do not have medical insurance, you will have to pay for all medical expenses by yourself. In case of medical emergencies, people may find it difficult to generate enough cash on time. On such occasions, medical insurance will come in handy.

In India, over the last few years the market for medical insurance, along with travel insurance has increased in terms of size and customers. Nowadays, even travel insurance plans offer medical insurance as part of their insurance package. These kinds of health insurance plan are synonymous with the offers of a travel insurance cover.

Coverage for various medical expenses, in case of emergencies or accidents, are provided by several mediclaim policies. Accident insurance, which acts as a rider, is provided under medical insurance. People, who think that they do not need a medical insurance, are the kind that may be under the delusion that they may never get sick or get hurt. However, unfortunate or unforeseen circumstances can occur at any time and to anyone. In such circumstances, a medical insurance can prove to be beneficial, especially when it is an emergency.

Typically, an average health insurance plan provides cover for doctor’s bills, hospital room expenses, cost of minor surgeries, laboratory tests, X-rays, mental health care and emergency health care. In some case, a health plan may also provide cover for nursing home care, prescription drugs, and use of durable medical equipments, eye-care, and dental care.

In rare cases, a health insurance plan can also provide cover for education programs and support groups. Alcohol de-addiction programs, programs to stop smoking or substance abuse are covered under special types of health insurance. There are sophisticated plans that provide you with your doctor, in the form a relationship manager. In case the insured is admitted in a hospital, the assigned relationship manager will take care of all formalities and provide assistance with treatment.

Cashless services, at hospitals, are another feature. Under the mediclaim plan, the insured is given a card. This card in turn will act like a credit card of sorts. Upon the presentation, the hospital is authorized to go ahead with treatment, despite cash. The insurance company will then proceed to reimburse the hospital for all the expenses, based on the conditions stipulations of the medical insurance policy.

Finally, it is wise to buy a health insurance plan, as emergencies pertaining to health can occur at any time. Most of all choose a health plan that best suit your needs and the one that can provide you with adequate coverage against financial risks that can arise out of medical emergencies.