Critical illness insurance may sometimes surprise us with some cases, in this case, antiselection. For example, people already suffering from a critical illness may have applied for a critical illness policy without making their insurers aware of the disease. But precautions can be taken against such cases. In fact the policy documents may contain a section named as the waiting period. The waiting period may vary according to the critical illness conditions and can be between two to six months. Critical illness insurance may cover the person only after the waiting period had passed.
Moreover, if the critical illness insurance provides an additional benefit, there may be a survival period alongside the waiting period. Should a critical illness take place, the patient may have to wait for the end of the survival period before a payment is made. The survival period may only last two weeks. One month can be the maximum waiting time.
Furthermore, the highest age of entry at which a person can buy critical illness cover may be 55, the age of maturity being 65. This may vary from one market to another and can also depend upon the decision of a company. Companies may tend to insure less people having reached the age of maturity. The statistics about their critical illness claims may not be as reliable and also claim rates may not remain fixed from year to year.
Knowing the rate at which a critical illness occurs may be a difficult task. Some countries may not have reliable and accurate statistical data sources which can be used to determine the severity of a critical illness, for example among men. Figures may help to study which critical illness conditions affect men mostly, for example heart attack. Other results may also demonstrate people of different age groups that suffer a specific critical illness. Therefore, assuming the rate of antiselection may also be inaccurate. So, the risks to have antiselection amongst all the critical illness policies may still prevail. Additionally, some problems may have to be solved regarding critical illness cover. Rapid improvement in the medical and diagnostic science may also influence the rate at which a critical illness occurs.
A critical illness such as cancer for example may be detected much earlier especially with improved cancer research tactics. This may therefore lead to a higher incidence rate of cancer. Another example could be the cover of coronary artery surgery. Effective medical techniques and instruments have made it possible for the critical illness to be diagnosed more often than before. As a matter of fact, figures that are being registered about the rates of incidence may become outdated. Hence critical illness may have a big risk of change and may continue to do so down the years. Looking at the rating risks, companies tend to restrict premium guarantees to five years. Single premium might also be offered for only a short lapse of time.
For a company to provide critical illness cover, it may put forward factors such as policy conditions, pricing, age limits, etc. Nowadays, many insurance companies may be bringing new design to their products to compete effectively in the insurance market. Low premiums and high benefits is what sometimes you may come across but everything and every condition may tend to vary from one company to another in the insurance market.
6 Things to Do When Preparing for a Home Appraisal
Getting ready to sell your home is emotionally and financially stressful. There’s just no other way to say it— selling and moving aren’t pleasant! If you’re getting ready to have your home appraised, here are some things to know beforehand.
What is Your Home Really Worth?
The point of a home appraisal is for buyers to get a real estate agent’s professional opinion on the true value of the property. These opinions are unbiased and take into consideration the housing market, buying trends, location, home condition, and more. Try not to take the appraisal personally, as many of these things are out of one’s control.
Tips to Get Ready for a Home Appraisal
Fortunately, there are a few things you can control before the appraisal. If you’re stressing over your home being undervalued, this is normal for sellers. To set clear expectations for you and potential buyers, what should you do before getting it appraised?
1. Gather Home Documents
Get all the important property-related documents ready. This includes insurance, warranties, lists of repairs or new appliances, house systems you’ve replaced in the home, and tax documents. Make sure to let your real estate agent know all the major upgrades you’ve made on the property, as that can increase the value.
2. Schedule the Appraisal Early
Don’t wait until the last minute to get your property appraised. You want to allow plenty of time to clear up any necessary repairs, financial details, or suggestions from your agent. Additionally, appraisers can be booked out, so make sure to schedule your session in advance.
3. Clean Up & Improve Your Curb Appeal
Buyers typically don’t want to buy a broken down home. Tidy up as best you can, and audit your home’s curb appeal: What exterior features stand out the most? How can you add to the overall attraction of the home and make it more welcoming, if possible?
4. Make Necessary Repairs
It might be essential to make repairs on the inside or outside of your home. If there are any leaks, broken wiring, outdated appliances, or faults in the foundation (like the roof or flooring), the price is likely going to be significantly lower.
5. Consider a Warranty
Buyers tend to feel more comfortable buying a home that comes with some kind of home warranty in place. If you already have a home warranty, it can add value to your property both with the agent and future buyers. Make sure to search for the best home warranty companies to get a reliable home warranty coverage in place.
A warranty gives buyers peace of mind because in the case that something goes wrong with the house after buying, they’ll be covered. They won’t have to invest a lot of money into sudden repairs.
6. Have Realistic Expectations
What is your neighborhood like? The location of your home affects its overall value. For example, if you live in an up-and-coming suburban area with plenty of new schools and restaurants, higher-income buyers are likely looking to move in. If your home is next to an airport or busy highway surrounded by run-down shops, the appraisal may be a bit lower than you expected.
Thinking of Selling in the Future? Improve the Value of Your Home Now
If you’re wanting to sell someday but not any time soon, you can take preventative action to ensure your home’s value remains high. Take care of your house systems and appliances with a complete home warranty. This way, if you need any repairs or major replacements, you’ll be covered and won’t need to pay out of pocket every time.
Contact Elite Home Warranty today to get the right home warranty for your home, whether selling, buying, or appraising.
Should You Get a Home Warranty for Your First Home?
Homeownership is no walk in the park, especially when you’re a first-time homebuyer. On top of a mortgage, maintenance bills, HSA, and homeowners insurance, do you really need to pay extra money for a home warranty?
If you’re wondering whether or not you should get a warranty on your new home, we’re here to help you decide for yourself.
What is a Home Warranty?
A home warranty is when a homeowner pays a warranty company an annual or monthly fee to receive discounts or coverage on repairs if anything goes wrong. This is not the same as home insurance, where disasters like fires or crime are covered. Instead, a home warranty helps cover the cost of appliances, home systems, and expensive electronics.
Home warranties cover items like:
Washer and dryer
Home entertainment center
Often, warranty companies provide full-house or partial-home coverage, which can get expensive if a new homeowner isn’t in a place financially to pay seemingly unnecessary costs.
Who Needs a Warranty on Their Home?
Anyone who wants an added layer of long-term financial protection can use a home warranty. Think of it this way: if your new home— which you invested a major down payment into— suddenly experiences electrical damages, it could end up costing you thousands of dollars out of pocket.
With a home warranty, you pay a smaller fee to ensure the warranty company helps you cover the repairs. Also, when you need to find a reputable electrical company to come fix your house, warranty companies usually have a list of trusted providers in your area.
Unless you feel comfortable eating the cost of potential repairs or appliance replacements in a house you buy, a home warranty is a smart option.
What Type of Home Warranty is Best?
Different home warranty companies offer different types of coverage. Some only offer complete home warranties to homeowners. Others offer warranties to homebuyers who are concerned about potential equipment or system issues upon purchasing the home.
You should find a home warranty that meets your needs and covers the items you most want to protect.
What to Know Before Buying a Home Warranty
Here are a few tips if you’re trying to find a home warranty that’s right for you:
Always ask what the warranty covers, and how the company goes about repairing or replacing items.
Read the terms and conditions carefully, as some companies include hidden fees that surprised homeowners later on.
If your home is equipped with all new appliances, you might be able to find a warranty that only covers home systems.
Learn about any limitations or pay-out agreements in your plan.
Warranty costs may vary depending on the location, size, and age of the home.
If you’re overwhelmed with expensive warranty plans or confusing contract agreements, don’t worry. There are warranty companies that cater to new home buyers like you.
Are Home Warranties Worth It?
Getting the coverage your home needs is always worth it if you can’t afford to pay for large repairs. Accidents happen, home items get old, and home maintenance is necessary for any homeowner.
Getting a warranty that suits your needs is your best option. For this reason, Elite Home Warranty offers appliance, system, and even custom warranties to give you the coverage that gives you peace of mind. To get a free quote for your home today, reach out to the Elite team.
Life insurance should be considered essential if you have a family and commitments, especially if you are the main provider. If you are the main provider and you should die then your family would not only have to cope with their grief, but also have to struggle to meet financial commitments with the loss of income. While life insurance is an added outgoing it can be worthwhile and if you go to a broker they will be able to find you the cheapest life insurance policy suitable for your needs.
Typically, he cheapest life insurance is what is called term life insurance. Term life insurance is taken out solely to pay out a lump sum of money should you die. This can be invaluable to your family and gives you the peace of mind that at least they wont be left struggling to make ends meet financially. It doesn?t however pay out cash unless you die, but it is the cheapest and easiest to understand of all insurance policies. An online broker will be able to get you the cheapest and most comprehensive cover for a policy of this type.
Of course when taking out any form of life insurance you will need to know how much insurance you need, generally the amount that you should cover yourself for is around 6 times that of your annual income, or it should be enough to pay off your mortgage, plus a bit more. You should also take into account inflation and the needs of any children and they are growing. For example, if they wish to go to college or university then extra could be put aside to allow for this. Once your broker knows the figure to work from then he can look around on your behalf and find the cheapest life insurance that is most suited to your particular needs.
While going with a broker for your policy will ensure you always get the best deal you should also be aware of what the policy covers you for and what the exclusions are within it, again a broker can give advice on this.
With the rise of rapid globalisation, we are seeing an increasing number of people being posted in developing countries to help the business expand and succeed. This is an excellent step for companies to take, but the health and wellbeing of your expat staff need to be accounted for.
Part of group medical health insurance is the expat medical evacuation plan. When living abroad, staff are at risk of catching viruses and illnesses that may require urgent medical attention - even evacuation from the country. That’s where the evacuation plan comes in.
Why is an Expat Medical Evacuation Plan Needed?
Many international health insurance plans include a medical evacuation plan so that if your staff have a life-threatening or limb-threatening condition, they will be seen to urgently. This plan is especially useful in remote areas and developing countries where medical access is limited.
When your staff move to another country, it is to ensure that your business grows and operates the way you want it to. Being able to provide them with a medical evacuation plan ensures they have peace of mind and the knowledge that they will receive the best medical care.
The COVID-19 pandemic has only highlighted how important these plans are. They may not be needed for many years, but when something like this hits it impacts everything. Being able to give your staff access to immediate treatment during a pandemic is invaluable.
What Does an Expat Medical Evacuation Plan Include?
Typically, an expat medical evacuation plan will include:
Organising the logistics of evacuation, alongside the medical teams on the ground
Communicating with our global network of medical teams
Dealing with any passport and visa issues
Making sure all bills are paid quickly
Translating any medical forms or claim forms into your chosen language
24/7 service to keep you updated and offer assistance
This tends to be what comes with every standard evacuation plan. However, there are extras that you can get that include:
Repatriation to your home country
The cost of having a loved one with you for support
Evacuation for cancer treatment and advanced diagnostic tests
Repatriation is an additional benefit that should be seriously considered. This is where your staff member is transported to their home country for treatment, or it can allow them to be transported over the border to another hospital. It’s something many employees would prefer.
The expat medical evacuation plan will also cover the costs of ambulance fees, including air ambulances, which can be as much as $220,000 without insurance. Additionally, the cost of treatment and care is also included so that your staff don’t need to worry about the bill.
Usually, there is an option to choose between domestic and international evacuation - the former of which is always included and the latter which can count as repatriation (an extra). Domestic evacuation is where you are transported to a hospital within the same country by road, sea, or air. This can include an air ambulance or a private plane, depending on location.
Your staff are the core of your company, and if they don’t feel safe and cared for they are likely to go somewhere that gives them the security they need. An expat medical evacuation plan means that they will always get the treatment they require, and considering the COVID-19 pandemic, these plans are more important than ever.
Private medical insurance is a very useful policy to take out, yet the range of policies available means that you should ensure the terms and conditions meet your specific requirements
The origin of private medical insurance goes back a long way ? before the NHS was formed. In pre-NHS days, people contributed to ?friendly societies?, which provided financial assistance to people in times of need. Some private medical insurance providers, such as BUPA, remain non-profit-distributing bodies, though there are also many commercial insurance companies providing private medical insurance these days. One of the best-known names in private medical insurance cover is AXA PPP healthcare ( ) ? which was actually conceived in 1938 to provide a health insurance scheme for middle income earners in London.
The principal aim of private medical insurance is designed to cover treatment of ?acute illness? ? defined by Which? As ?conditions which can be cured or substantially alleviated by treatment.? Treatment of chronic illnesses, such as multiple sclerosis or arthritis, may not be covered by private medical; so critical illness insurance might be more suitable. Critical insurance cover will be based on your individual requirements ? so shop around for the right policy and always be completely open with your insurance provider, or you may invalidate a claim at a later date.
Other treatments generally excluded from private medical insurance include cosmetic surgery, treatment for alcohol or drug abuse and infertility treatment. The majority of standard policies exclude private consultations of a GP, routine check-ups and dental work ? unless it is undertaken in a hospital. However, always check your private medical insurance policy ? as some will be more comprehensive than others.
Private medical insurance can be an effective way of ensuring swift access to medical care for your family. Just remember that insurance policies reflect your exact circumstances ? so don?t assume that one size fits all.
For additional information on private medical insurance and critical illness insurance:
?Be your own financial advisor?, Which? Consumer Guides, author Jonquil Lowe
To put it simply, medical insurance is a deal under which the insured pays some money, often in instalments, to the insurer on the ground that the expenditure of his treatment will be borne by the company. It is a legal contract between an individual, group or a company and the agency that sells the insurance policy. All the insurance policies have an expiry time. But generally they are renewable.
Since medical expenditure is rising sky-high, more and more people are opting for medical insurance. It helps them get the right treatment at the right moment. They do not require thinking about the expenditure as the insurance company is there to take care of it. Not all the people meet with serious medical illness in their lives. Yet, insurance keeps them free from tension and gives them peace of mind.
Requirement for medical insurance differs from person to person and hence the agencies craft customised policies. There are insurance policies for individuals, groups as well as organisations. Individual insurance is the commonest policy. This type of policy covers an individually only. There are endless options on individual insurance policy. One can select a plan according to his own personal need.
Group medical insurance is arranged for groups. No personal preference is given priority in this type of insurance. Everybody is bound to agree with what others are going for. Insurance policies for organisations are meant to cover the employees of a company. This type of policies is generally taken by the owner of the company. They are never personalised.
Insurance are available for travellers also. Travelling is fun no doubt; but the way is also beset with so many obstacles and there lies the possibility of financial losses. To protect himself against financial losses on travelling, one can go for travel insurance. Like medical insurance, this type of insurance policies are offered in various schemes and plans.
PPI or Payment Protection Insurance is a product designed to guarantee loan repayment if the insured is unable to honour their repayment obligation due to sickness or unemployment. The basic idea seems sound, but the product has a history of mis-selling by poorly trained staff, and unreasonably high charges.
The result of this mis-selling means that many people are actually paying for a policy for which they have no need or that the various exclusions mean they?ll be unable to make a claim if the need arises.
Before you fall into this trap, take some time to consider what should happen when you buy this entirely optional extra.
The person selling you the policy should fully explain any restrictions or exclusions to the cover. Not all include back injuries or a history of mental problems, for example. If you were self-employed or regularly working on a sub-contract basis then insurance against unemployment would be redundant! They should go through this with you to ensure the right product is being purchased. They should check with you that you don?t already have any type of cover in place and above all they should make it absolutely clear that there is no obligation to purchase the policy.
Terms vary and there can be long periods of waiting before you can actually start to claim any benefit. Some of the better policies pay as soon as the event from which the claim arises begins, although it may be 28 days before any money is actually paid out. There is a limit to how long you can claim too. Read all the small print or yourself, even if in theory everything has been explained to you.
To make absolutely certain that you?re not being charged for PPI, ask for any loan quotation to be made with and without the inclusion of the product. The chances are you?ll be absolutely amazed at the difference. PPI providers pay a very handsome rate of commission to their agents and their gain is most certainly your loss.
If PPI is applicable and needed then it is easily available, at a fraction of some of the prices charged by these lenders, as a stand-alone product. Before going into that, however, consider these points.
? Are you the only breadwinner in the house? Would it be impossible to make the repayments if you were to be ill/become unemployed? ? Is there any provision in your terms of employment for cover in these circumstances
You may decide that you need only part of the payment cover which a PPI policy would offer. It should be a simple matter to arrange for this ? for example you may be quite confident that your job is secure ? or there may be some protection for this arranged by your employer. In this case a policy which covers sickness only would be possible at a fraction of the cost of the full policy.
Although you can search the internet yourself and come up with some suppliers of PPI, there may be further reductions on the cost if you take the easy way out and use an independent internet adviser. These advisers have access to a wide range of products at the very latest and best prices. Get on line and find out the options.
In most states, car insurance rates are likely to go up for at least 3 years if you are convicted of drunk-driving. You will also become familiar with SR-22. Different states use different terms for drunk driving: driving under the influence, driving while intoxicated or operating a vehicle while intoxicated. If convicted of any such offense, your insurance rate is likely to go up before you can drive again.
If convicted of impaired driving in any US state, your driver privileges will be suspended for between 30 days and a year.
To get your license and privileges back, you?ll need to complete an SR-22 form to prove you have liability insurance. The insurance company will notify the licensing agency if the policy is terminated for any reason.
Premiums could multiply
When you receive your SR-22 form, your car insurance company will automatically consider you to be a high-risk motorist and increase your premiums accordingly. If convicted, you can expect your premiums to double or triple although some companies specialize in high-risk policies.
Not All Companies Offer SR-22 Policies
Some insurers don?t offer SR-22 policies. In such cases, if convicted of drunk-driving, your policy will be canceled or not renewed This cancellation on your claims history will count against you when you find another company that does offer SR-22. Because of this and your conviction, your rates are sure to be higher.
It?s possible that your insurance company is prohibited from canceling your policy early even if convicted of drink-driving. This is subject to state law.
How long can you expect your rates be higher for?
In most states, a drunk-driving conviction will affect your insurance status for at least 3 years although it does vary. The length of time increases for multiple convictions.
Penalties can vary depending on the circumstances. If somebody was hurt as a result of your drunk-driving, a child was involved, your blood-alcohol level exceeded a certain amount or if you were under 21, your premium can be affected in certain states.
How can increased rates be avoided?
The only way to avoid increased car insurance rates is to not restore your driver privileges. Some states will allow you to drive a moped without a license otherwise you are restricted to walking or public transport. If you don?t own a vehicle but you do wish to restore your driving privileges, you must still buy a non-owner policy to provide a SR-22 form. This means buying car insurance for a car you don?t own. It simply isn?t worth drinking under the influence of alcohol. The law is designed to treat drink-driving convicts heavily and is fully supported by car insurance companies.
We want you to know one little thing. The insurance companies are not only there for the money. We do care about each one of you and we want you to be protected. You pay us for services you don?t need now but one day, if something occurs, we will be the only people you will expect the help from. Please always stay considerate and wise. We believe you won?t let us down.
For health Insurance Dubai holds some extravagant value for those who are seeking to get insurance on health perspectives. This form of insurance is slightly different from the conservative style of insurance mainly due to the fact that health insurance is a product of just a couple of years and still in the phase of development. In this form of insurance the client approaches the company who provides health insurance and tells the particulars and details of those he wants to get insured. Normally this trend of health insurance in prevalent in the companies due to just one single factor. The factor is that the companies are normally liable to pay the medical expenses of their employees and household due to the reason of inclusion of this statement in the offer or employment letter of the employees which details several other perks and advantages to be given to the employee.
In the recent past, the company would be unable to predict the amount or expense to be incurred in respect of paying or reimbursing the employees. Further the amount of expense can be much higher in some years and the company profits are reduced without any reason relating to the efficiency of operations. This means that even if the company is performing well and in the best way but still its profit is dependent and sensitive to the amount of medical reimbursement expense. The solution to this problem for the companies came in the form of health insurance of their employees and dependents. This means that the company has to incur only a fixed and predetermined amount of expense in the form of insurance premium which in needed to be given at the start of the year. This amount of insurance can be paid in a lump sum amount or may be paid in installments depending upon the understanding and terms and conditions with the insurance company. There are some ailments that are not considered for insurance purposes and thus the expenses incurred in curing them are not covered and therefore are not reimbursed by the insurance companies. These ailments are fall into two categories. First, the ailments which exist at the time the person acquire insurance like heart diseases which are existing in the person at the time he or she applies for the insurance. Further some other forms of medical expense that are normally not covered are those which are developed as are required like pregnancy. In this era of extreme competition and rivalry, companies are more and more adopting ways of getting themselves acknowledged in wider society.
On such way of promoting its name is by obtaining sports sponsorship. In this mode of marketing and advertisement the company associates itself with a well recognized sports complex or board of any sport which may be cricked foot ball and several other form of sports. By paying a certain sum of money annually and after entering into an agreement with the sports board or the sports organization the company's name is projected at all places in an equal and prominent position where ever there is the appearance of the sport organization name. This form of advertisement has been considered as generating the maximum amount of recognition among the mass at large.