Recession Causes Higher Individual Health Insurance Rates In More States

Recently, Anthem Blue Cross–the largest provider of health insurance in California–proposed a significant increase in the price of its individual health insurance policies. The price hike of over 30% was set to take effect several months from now, and drew criticism from the Obama administration. Under current law, health insurance companies are regulated by the states. Health and Human Services Secretary Kathleen Sebelius only had the authority to write a stern public letter criticizing Anthem. In an attempt to resuscitate healthcare reform, Democrats pointed to the WellPoint subsidiary’s actions as a harbinger of what would happen in the health insurance market if their bill fails and the status quo remains.

It remains to be seen whether that tactic will revive support for health insurance reform, but there are indications that individual health insurance plans in several other states are looking to follow suit. In Maine, Anthem Blue Cross health insurance wants to increase its rates by nearly one-fourth; that’s on top of last year’s jump of one-third. Meanwhile, health insurance companies in Oregon have had their requests for 15% rate increases for individual health insurance approved. They, too, had also previously increased prices the year prior.

Many people have demanded an explanation for these price increases, especially during a recessionary period. Standard economic logic would have predict that lower demand from consumers with less money to spend would cause insurers to lower their premiums to attract more businesses. However, the health insurance industry is unique in that regard. In some respects, their costs are relatively fixed. Healthier people are more likely to drop their individual health insurance policies or switch to Health Savings Accounts and high-deductible health insurers plans with lower premiums. The people that keep their comprehensive health insurance in those circumstances tend to be those in worse health. Unhealthier people continue to use medical care. It costs health insurance companies money to fulfill their claims, while they are losing the more profitable individual health insurance consumers that generated income while using relatively small amounts of health care.

As a result, Oregon and Maine insurers–along with individual health insurance providers from California–have to increase their prices to maintain profit margins. Despite job losses, the employer-based group health insurance market has seen less volatility in sales. That, in addition to the larger risk pool that allows health insurers to spread costs, means that their rates have increased as significantly as those for individual health insurance.

What are the state health insurance regulators doing about this? Some states have no authority in the matter; they can negotiate with a health insurance company and plead with them to lower the level of proposed increases, but insurers don’t have to heed them. In these particular states, insurance departments can deny health insurers rate increases. However, individual health insurance companies can appeal the ruling or even sue to have it overturned. Oregon regulators approved several years’ worth of double-digit increases, since 2006 premium cuts caused individual health insurance providers to lose money. Unfortunately, the state insurance department’s reparations had exceptionally bad timing for its residents. In addition, they agreed with health insurance companies that an increase in diagnostic tests and higher service provider costs justified the rate increases.

Maine regulators have not been as charitable towards providers of health insurance. Originally, Anthem Blue Cross wanted last year’s average increase in the rate of individual health insurance to be 18.5%, but the state was able to hold the average consumer’s rate hike down to about 11%. The state is holding two public hearings on the issue later this month. Consumer protection groups are planning to attend in full force.

Proponents of healthcare reform claim that these increases show that the current system is not working, especially states like California or Maine, where a single health insurance company holds a near-monopoly. If there is a dominant individual health insurance provider in a state, it is easier for them to raise their rates without competition. A national health exchange market would attempt to bring prices down by promoting market competition, while subsidies and health insurance mandates are intended to help lower individual health insurance rates by increasing the size of risk pools. Anthem has called for the health insurance reform process to continue, because it has the potential to bring them more customers. Others believe that a better approach to the problem would be to allow insurers to sell policies across state lines, which would also serve to open up the market.

Guidelines For Searching Instant Car Insurance Online

Recently, National Fraud Authority in UK has revealed that on an average, the fraud bill amount is approximately ?30 billion annually. After this news, insurance companies have started asking for more detailed personal information from the clients than before so that they can avoid such scams. Naturally, car owners are now facing lots of questions at the time of buying an insurance policy. This is making the process difficult and time consuming. Car owners already find the job of purchasing car insurance difficult as there are plenty of plans available in the market and each plan claims to be the best. Hence, buying the one that gives maximum security to your automobile at an affordable price becomes tough.

Searching for instant car insurance quotes online can make this job considerably easy for you. Since the request of quotes and comparing them is completely online, you can save a lot of time. But there are certain issues that you should keep in mind while you search for quotes online.

When we search for instant car insurance quotes, we generally compare the policy price. We select the one that has least price. But we must compare the coverage plan of the policies as well. A basic knowledge about the different types of coverage plans can help you in this regard. There are basically two different types of financial coverage available- comprehensive and collision.
* Comprehensive coverage ? In the event of an accident, this type of plan will cover not only all the damages sustained by your vehicle, but also the charge of replacing it, if necessary. Potential damages caused by flood, earthquake, weather, etc., for which the driver cannot be held responsible are compensated through this plan.
* Collision coverage ? This plan covers the damages caused by an accidental collision with another vehicle. This is a very common coverage plan and is offered by almost all insurance companies.

Liability insurance is one more thing that you should look for while searching for the quote. This plan covers the damages which have been caused by your inappropriate actions. Hence, purchasing this will provide complete protection to your car.

There are several companies offering instant car insurance. You can also request for the policy quotes online through the website of these companies. is one such company providing instant car insurance. You can get all types of coverage plan in this company. Visit their official website to know about the coverage plans and request for free quotes.

About Us Auto Insurance And The Quotes

US has a strict car insurance policy which is made mandatory in almost all states. According to their law, every person who owns a car needs to have insurance coverage. Not only that, the family members who are of age to obtain a drivers license must be covered by the insurance plan. Therefore, being a US citizen one can not but look for auto insurance quotes which suit their requirement the best.

About US Auto Insurance

In US, many types of insurance policies are available. One can go for a liability insurance plan which covers the insurance holder along with those in his family who have attained the age of holding a drivers license. However, if a member is not having his own automobile and is operating the vehicle of some one else, the coverage plan is not valid. One can also get insurance coverage from the party’s policy which covers a person when he is driving an automobile owned by that party. If someone does not have his own car, he can have non-owners policies, which are especially useful to those whose drivers’ license has been suspended.

Some car insurance companies give full coverage to rented cars which are established in advance. Other car insurance policies offered in the US states cover for the automobile’s bodily injury, property injury and other damages caused by an accident. Other forms of insurance policies available in US are loan/lease payoff coverage, car towing coverage or Roadside Assistance, auto policy and behavior based insurance coverage. With so many policies, one can also get a variety of auto insurance quotes to choose from.

How to get the best auto insurance quote

Getting the auto insurance quotes of various insurance companies is not a tough matter. Nowadays, automobile insurance quotes are easily available in websites on internet. All one need to do is click on the website and choose his state (only applicable to US citizens). He would be required to fill an online questionnaire which is nothing but a set of simple answers relating your requirements. This questionnaire will be sent to the respective companies of the state. They would receive it and send the auto insurance quotes available for those companies. A person can evaluate these automobile insurance quotes and compare them at the same time. If he is interested in any particular quote that satisfies his requirements then he can make a purchase. The steps are simple and hassle-free.

There are ample such websites which will offer you auto insurance quotes that range from very expensive to cheap rates. It is a common tendency of people to go for the cheapest auto insurance quotes available without considering the other factors. One should avoid this and go for that quote which is both affordable and ideally satisfies his requirements. These are common pitfalls that one should not fall in.

Auto insurance quotes depend on many factors which influence their rates. The factors include the driver’s history, make and model of the automobile and the location. It has been found that the auto insurance quotes offered in different states of US are different. Therefore, before settling down with a policy one must carefully do a research in the market and find out the latest trend.

Some Simple Steps Can Help You Get Compensated if You Have Been Mis Sold PPI

Payment protection insurance, generally referred as PPI, is there in place to assist the individuals to settle up any amount overdue if the person becomes ill, loses his job, or has met with an unfortunate accident. Although Ppi is there to assist people in their state of financial instability, but the issues come when the buyers are sold the cover, without their knowledge. If you also have faced something similar, then you can file claim.

The fact is that if you have been a victim of mis sold payment protection insurance, then you might have paid or still be paying for a policy you do not need. Many times, the individuals deter from taking any legal step as they are unsure about the entire legal process and are unaware about the steps to take. You have to follow some simple steps and get back what you rightfully deserve. The first and most important step is that do not bother that once you claim your association or relation with your banker or lender might change. After all, you have been victimized because of their mistake and hence, you have all the rights to take the standpoint that you are lawfully allowed to reclaim back what should be yours.

The next step has to be collecting all the related credentials and documents. Find the documents, which have the exact details of the time of insurance selling. Check the rules and regulations for your loan as the cost of PPI may be incorporated on your accounts. It is also possible that it is not listed as PPI, but is called a loan protection, credit insurance, loan repayment insurance, ASU (accident, sickness and unemployment) insurance, account cover or payment cover. If there are any of the terms incorporated, you have been mis sold Ppi.

In case, you are unable to find any information or are unsure whether you have the insurance cover or not, then, get in touch with your bank or the lender and ask them to send you all the details. They have to send you the information, if they fail to do so, they might have to pay extra compensation. Once, you have all the details, assess the document and confirm that you have a genuine case to submit. You can’t just claim for the sake of it, particularly if you were aware of PPI and knowingly agreed to the terms at the time. This might entail reviewing the little features and investigating the details of the mortgage, credit card or loan, whatever you were getting.

Once you think, you have a claim, immediately get in touch with a financial claims management company or an expert notary to help you with your allege. These experts have the knowledge and skill to handle your case and will guide you accordingly. One thing you have to remember that just because you have made claim, you will not get recompensed. You have to have the necessary evidence and proof.

These are some simple steps that will help you get whatever you lost because of mis sold payment protection.

Much Safer And Secure Than Money Back Or Cash Back ? Ulips?

Insurance today is not just the market trend; it?s the requirement of the day. For an individual who is working daily to meet the two ends and the demands of his family, is equally responsible for a comfortable life after his death or when he is not in a position to carry out his duties.

When Insurance inculcated itself in the Indian Market, it focused on insurance plans which gave a assured return- those which were secure in terms where the money (premium) was being put up and how it would give assured benefits. It was the time of money back or cash back. Advertisement, marketing made people more aware of the market, insurance and insurance policies. Bubbling with these ideas, Insurance companies came up with the idea of ULIPs or Unit Linked Insurance Plans.

Unit Linked Insurance Plans or Ulips as they are called, are the insurance policies which rolled out the premium paid by the insurer in the stock market. As the market changed its way, so did the profits/benefits linked with the policy, thus giving more returns than the usual ones. Ulips too are classified in three categories ? Full Equity, Balanced and Partial Equity ones. In full equity, the entire premium was put in the stock market, in balanced only 50% was put in the market ? rest 50% was kept as in normal policy and in partial only a certain percentage of the premium was kept for equity market. Depending upon the choice of the insured person, the ?allocation of assets? is made.

Despite of the good points of ULIPS and the risk involved in them ? the big question is ? are Ulips better than the traditional insurance plans? It all depends upon you ? when you take a insurance policy and are na?ve, you depend totally of partially on your basic instinct. Same is the case with Ulips. When you take a Ulip, even if you are not aware of the stock market trends, you rely upon your basic income, forecasted income and your basic instinct. Calculated along these factors you choose the unit linked insurance plan. For those who are na?ve, can take the Balances Ulip plans which will give them better than a basic money back plan as well as the assurity of a good insurance plan. After all, the idea is to buy a insurance plan which gives the benefit of protect and gain along with life insurance?

Compare And Find The Most Appropriate Insurance Products

Life insurance plan is the transaction of risk from one party to another in exchange for a premium and duty of care. It may also be called an agreement between two parties who make an agreement to compensate on wealth or property, uncertainty of life in exchange of an amount known as premium. Several years back the people of India were not aware of the insurance policy. So, there were only a few life insurance agencies in the country. Even before that Life Insurance Corporation was the only insurance service provider in the country. But, today a large number of private agencies have plunged into this sector. So, there is a tough competition among the insurance service providers to draw customers towards them. This competition among them has led to the emergence of new and striking insurance plans. There are two kinds of Insurance schemes in India, which are known as general insurance and life insurance. When it is a life insurance it covers children’s education, wealth creation, life protection, retirement plan etc. The general insurance covers fire and marine related risk to home, business and other properties. Miscellaneous category covers business and risk mitigation, insurance of property, factories, building, motor vehicles, home assets, air planes, flats and its contents, travel related accidents and losses, fidelity insurance of key employees, personal accidents etc.

Insurance companies in India are working tremendously to cover the insurance market in the country with exhaustive plans and products. There are more than 14 big insurance companies in the country with multiple products and services for the target customers. It is required to do life insurance comparison prior to applying for any kind of insurance. The select category of plans are totally dependent upon the respective customer’s needs and requirements that suit him best individually. For any category of plan an applicant can do the life insurance comparison of all the existing big companies. This task of comparison becomes easier if it is done online. Doing this task online becomes hassle-free because one need not visit the agents’ offices in person to learn in details about each of them and their products. This mode even minimises the efforts on the part of the customers and saves their time as well.

The performance and the cost of the products of an insurance company determine the choice of the customers. There is a cut-throat competition among the insurance companies in India to provide the best services to their target customers. As a result, it becomes easier on the part of the prospective customer to find the most appropriate plan via life insurance comparison. You may like the products like Life long policy, Easy life plus, Life bond and Life Plus, Life shield etc., belonging to the Aviva life insurance. The products of the ICICI Lambard and Kotak Platinum are also well know in the insurance market.

As regards health insurance, in India the awareness of health has increased over the years, but in action it is still low. The strength of the population which can afford the high cost of medical bill is very small in the country. For the majority, borrowing the wanting cash from friends and relatives is very common. Such circumstances call for health insurance which cover health related issues.

Health care expenditure is very high in India, and very often it is not negotiable. Therefore, it is very important for the people to remain prepared to counter such health related emergencies. There are indications of this situation going still worse with the rise in life-style disease in the country. In India you can find a large number of people who do not save enough for medical emergencies despite the awareness. According to the records of NSSO, 40 % of the people hospitalised in India either borrow the medical expenses or sell their assets to meet the expanses. It has been observed that health insurance is the most appropriate way to tackle the expanses related to health care.

Do I Really Need To Insure Myself?

Have you ever stopped to consider what would happen to you and your family if you were unable to earn the money to support them through an accident or an injury to yourself?

Some of the unpleasant things in life we tend to say I’ll look after that later and later is always coming. Things like being incapicated for a year or longer, permanently disabled or even the worst, killed in an accident.

You tend to take care of insurance for your home, your contents, your car and neglect the most important, your family and yourself.

Many companies will have protection in place if you are injured while working, this can differ from company to company, state to state and country to country. But what if you were injured while not at work, you would not have any income protection insurance cover to help you support your family. If you are working for yourself then your definitely need your income protected with an insurance policy.

There are a couple of insurance covers to protect you. There is firstly life protection insurance and then income protection insurance.

Life protection normally has three forms, you can be insured against death, injury or illness.

1. Death cover this is usually called term life, and will pay out a lump sum to your dependants if you die unexpectedly.

2. Total and permanent disablement, this cover pays a lump sum if you happen to suffer and injury or illness that stops you from working again.

3. Trauma cover is the third and this type of insurance will cover you if you suffer a range of specified illnesses. These normally include, heart attacks, cancer or stroke.

The above three can often be combined, talk to your insurance consultant about this.

The other insurance to cover you is an income protection policy. This is a ‘must have’ insurance cover if you are self-employed.

Income protection will cover your ability to earn money. If you are unable to work due to illness or injury, this policy will cover you for up to a percentage, often 75%, of your monthly income.

The cover can be for two years, five years or until a particular age. There is normally a waiting period, somewhere between 30 and 90 days, after which the benefits will start being paid.

So you have a choice to protect your family and yourself. If your employer does not have the employees’ compensation type cover then you will need your own income protection policy to protect you while working and for everything else you will need the life protection insurance.

Let your insurance company or insurance consultant, guide you with getting the right cover for you.

Corporate Insurance ? Safety Of Employees And Assets

Yesterday?s corporate culture no longer matches with today?s trend. Today, employers are more concerned about the well being of their employees, the financial security of their corporate assets, manufacturing units, and all risks related to corporate offices. These are all covered under the umbrella of corporate insurance. Whether it is a small establishment or a big enterprise, corporate insurance today seems to rule the roost. Insurance in India is given a major thrust with this segment of insurance. This is because under a single corporate insurance, a number of employees, employers, assets, etc. get covered that involves a high premium and an equally high insured sum.

The concept of corporate insurance India is not altogether new. It is a part of a company?s staff retention policy, offering benefits at par with its competitors. If your company has not yet utilized the advantages of corporate insurance, buy one today and stay financially secured. You never know when emergencies strike. There are instances of risks associated with employees as well as company assets. A corporate insurance will let you safeguard your employees against sickness, personal accidents, etc. and business assets as aforementioned.

All you need to furnish is details of your employees such as number of employees with names including their dependents, claim status of previous policies if any, status of old policy if any and the like. If you have trading and service properties, you will have to provide the details as well; the same is the case with manufacturing units.

Visit EIndiaInsurance to get the best and affordable deals. This online insurance service provider has a database of some of the best insurance companies like Tata AIG, Reliance, Bajaj Allianz, and more. You can compare corporate insurance policies offered by these companies in terms of facilities and price by using its unique insurance comparison tool. Getting quotes is possible in seconds. And you can buy the desired policy right here using your credit card or debit card ? a safe payment gateway. You can also pay by cheque. Protect your manpower assets and business assets with an affordable corporate insurance policy.

Prove Your Importance With Individual Health Insurance Policy

Individuals are the building blocks of our society and hence form the most basic structure for normal societal working. Given the high risk lifestyle that has been adopted by us today, there have been constant threats to an individual. The kind of clockwork lives we spent, especially in the big metro cities, is extremely dangerous. In a competitive, high pressure working environment, time is of crucial nature. With young individuals opting for long shift jobs for their financial incentive, we face a growing challenge. Several individuals working across various industries such as hospitality, event management, research and the outsourcing sectors have a very different working schedule. Today, the average time an Indian spends on his job is more than 25% of the entire day.

Such a lifestyle eventually takes a toll on the individual health and converts the body home to various illnesses and diseases. Due to time catching up, there has also been a growth in the number of accident cases on the roads each day. In order to save time on the clock, people have grown negligent in their outlook. It is therefore very critical to have a life insurance policy that caters to the needs at the time of any medical emergency.

Components of Individual Health Insurance PolicyThe health insurance policy for individuals has various components that make for a holistic plan of insurance. You can choose the various time periods, payment options and details and conditions based on individual requirements. There are personal health insurance plans that can be customized according to your needs as well. These policies cover all possible aspects and avenues including individual’s medical and financial needs and requirements.

Benefits of a Personal Health Insurance various benefits that can be derived from such a health insurance policy are abundant. When every individual of the family is separately insured, the timely payment and other help come much faster. Also, the individual insurance plan gives you access to a 24×7 health helpline which seeks to answer all your queries and questions and provide consultation round the clock. If you have a Health Insurance, you can avail the cashless facility at your nearest hospital, so quick arrangement of cash amounts is not required. The policy cover also provides individuals with an option of a health relationship program in which the policy holder is eligible to avail health services and products with the market value of up to 10% of the last premium value paid by them. Apart from covering pre and post surgery charges, personal health policies also cover treatment charges that are administered at home under the consultation and approval of the attending medical examiner. Tax benefits derived from individual health insurance is an added advantage for the policy holders.

Compare Home Insurance Quotes Online

After you buy the home, it is important to have the good insurance policy for your home. It is also necessary to get the sufficient coverage for protecting your investment when you buy the home. To make sure that the coverage you are getting is proper and that too at reasonable rate and the deal you are making is the best, you should perform some of the comparisons through various comparison sites that are available on the internet. Visit various home insurance price comparison sites that provide you with the multiple home insurance quotes from the different insurance companies.

It is not at all difficult to get the insurance quotes online and then you can compare the rates to get the best one. When you visit the comparison site, you will be asked to fill a short form asking for your some of basic information including your age, location, coverage you want, investment you make etc. after filling the form, you are required to click a button which will fetch you the multiple quotes from the numerous insurance companies. In order to speed up the process, you must have some of the necessary information before filling it. The information that is required for you to have include the year when your home was built, square footage area of your home and also few materials used for constructing your home.

Besides having all these information, you must also know the coverage that you desire to have before making the search. Mistake that most of the people commit is to insure the home at an amount which is equal to the price of the purchase. You require the sufficient money that will replace your home in case it is destroyed because of any mishap or natural calamity. The price required to rebuild the house is always less than the price it was purchased. This is because when you bought the home, it included the land where house is build along with the structure. And when you are rebuilding the house, you already have the land; you are just paying cost for the labor and material.

Insurance policy also includes the coverage for the personal possessions you have inside your home. If you want to have sufficient coverage for replacing the personal possessions during any event of fire, natural disaster or burglary, you must have the inventory of all possessions you own. You may also take video or photos of your possessions.