What is incapacity? In insurance terms there are different kinds of incapacity. Own occupation is the incapacity of a person to handle their own job and is not working on any other jobs. Suited occupation is the incapacity to do the job in which they were educated and trained. Any occupation is the incapability of the person to do any task. Lastly, there are those Activities of daily living wherein they cannot do any functions. Incapacity can be caused by illness or injury, rendering the person incapable of normal activities as well as earning a salary.

One of the emerging insurance products nowadays is the Income Protection Plan. This is a plan available in the UK and Ireland. The policyholders are given the monetary benefits when a claim was made of incapacity, leading to the loss of income. This particular insurance has a number of benefits. The benefit can last from the time of deferment until the person’s recovery, retirement or even the end of contract. The payments are tax free and the payment schedules are mostly monthly but there are those that offer weekly payments. If the policy holder still pays for the premium, the insurer cannot refuse to renew the policy. Continue reading ‘The Convenience and Benefits of an Income Protection Plan’ »

If you are among the thousands of young adults who just graduated from college, it is time to jumpstart your way to a future career. You may be a bit scared with many uncertainties. While you are searching for a good and lucrative job opportunity, you should find health insurance products that would cover your possible healthcare needs. Young people get sick too.

While you are still polishing your own resume and actively surfing online job sites, you should consider taking low-cost health plans. It would do you good to start earlier in investing in such necessities. Here are several ways that could help you find health insurance products that are affordable and comprehensive at the same time.

Go For High-Deductible Health Care Insurance Plans

Annual deductibles are amounts to be shouldered prior to coverage of a plan. Many health insurers come up with different deductible levels. In general, the higher the deductible is, the lower the monthly payment would be. Choose a plan that comes with a higher deductible. It does not mean you are less protected. For instance, emergency room visits could be expensive. You could save more even with a $4,000 deductible. It would be easier to borrow that amount as a deductible than to borrow $30,000 to cover the entire bill. Continue reading ‘Fresh College Graduates Should Find Health Insurance Products Too’ »

More and more people are realizing the advantages of investing in health are insurance products. In many countries, there are now reforms under way to further improve how such policies are provided, sold, and implemented to the public. Along with the rising popularity of health insurance for individuals are medical scams that accumulate to become a multi-billion dollar industry year after year. Scammers are surely plotting ways to potential attacks. Here are some effective measures to avoid being a victim of health insurance frauds.

Be careful when looking at discount programs. Most of the time, insurers fashion health insurance for individuals as ‘members only plans’ or ‘discount programs’ with terms and conditions that are too good to be true. Such programs sometimes offer set fees for medical services brought about by doctors within their network, while their physicians offer many common medical treatments on heavy discounts. In many cases, some doctors provide such services because they expect the patients to need and acquire other services that are not included in the discount list. Services that are outside the coverage usually are too costly that you would end up paying as if you do not own a health insurance policy. Continue reading ‘How to Avoid Frauds When Buying Health Insurance For Individuals’ »

The 2009 drywall crisis – hazardous gypsum board made by companies in China and installed in U.S. homes – raised the eyebrows of homeowners, builders, insurers, state departments of health, and the U.S. Consumer Product Safety Commission this past year – and rightfully so. Corrosive gases that caused structural damage to homes, as well as acute and chronic health problems, led to hundreds of grievances. Drywall and fittings had to be torn out, removed, and replaced, not to mention the health consequences of stress, asthma, neurological problems, and more. How could more than half a billion pounds of defective, hazardous materials be imported, delivered, and installed without being detected? Why weren’t the problems caught earlier? Wasn’t anyone watching?

The legal system will reveal answers, but I suspect the problem has a lot to do with our demand for everything to be quick and cheap. Time is money. Limited funds leave little time for planning, production, oversight, or quality control. A well-defined plan, agreement on what constitutes quality, a fair price, and patience might have led to better suppliers, more thorough inspections, and proper reporting, revealing problems before the goods ever passed through the import dock on the way to the builders.

All of us want the best price, but what we really need is to pay a fair price for the right goods and services. Anything less has negative outcomes. It’s true of material goods, insurance products, and even enterprise content management (ECM).

Getting the ECM solution your business needs

Although many insurers have successfully implemented ECM to centrally access and manage their valuable business content, nearly as many have failed or been disappointed. Why? Sometimes it’s a jumbled vision, poor planning or understaffing. Other times vendors are chosen without careful scrutiny and reference checks. Just as often, it’s because either the insurer or the vendor cut corners in the wrong places and at the wrong times, leading to disastrous consequences. Continue reading ‘Insurance, ECM, and Hazardous Drywall – The Real Cost of Quick & Cheap’ »