1.Outline the four steps of creating a personal insurance program.
Individuals have a right to pick their personal insurance program. Each person should determine what they need in the insurance program. There are four steps need to create a personal insurance program. First, one must set insurance goals. “Your insurance goals should define what to do to cover the basic risks present your life situation”(Hughes, 2009, p.312). For example, when you purchase a home you should purchase home owner insurance to protect your home; in case there is a fire, water damage, break-ins or thefts. You can live comfortably without worry about losing your home.
The second step in creating an insurance plan is to develop a way to reach your goals. You can plan what you can do if you were to lose some things. You should be able to determine different services you may use is you unexpected problems. For example, Mike covered himself just in case he has an injury or accident: he purchased accidental insurance. Let’s say that Mike broke his leg playing golf. Mike doesn’t have to worry about losing his entire check because the accidental insurance will pay him a portion of what he earn from working.
Then, you can put your plans into action. You will be able to follow the goals you set. You can try to pay for the things that need to be insured like your car and house. Determining how much to pay for what to keep up with your personal insurance plan. Look for the different kinds of insurance you want to buy; such as dental insurance, health insurance, and medical insurance. After your research you should determine whom you will get your insurance from. You may have the option to purchase it through your employers or outside companies. She if you can...
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...and employee. Group life insurance is the same no matter how old or young you are. Credit life insurance is used to pay of a debt a person gather. For example, Billy applied for a car loan. When Billy passed away his credit life insurance paid off the debt. “It is based on the belief that “no person’s debts should live after him or her” (Hughes, 2009, p.392). Industrial life insurance is “the type of insurance that is sometimes called debit life insurance or home services life insurance because an agent literally comes and collects the premiums” (LifeInsuranceWiz). I never heard of this type of insurance until reading this chapter. “Industrial life insurance is the least popular insurance is the least popular form, and its appeal continues to drop rapidly” (LifeInsuranceWiz). According to (LifeInsuranceWiz), these policies are usually purchased by low income people.
...only one underlying purpose and that is to increase profits for the company and shareholders. Corporations have taken the position that there is a profitable benefit in having life insurance policies in the name of their employees. Corporations are just maximizing their position by looking at all legal resources that the corporation has at its disposal. As an employee you are receiving some sort of benefit from the corporation such as a salary, medical, dental, profit sharing, 401k plan and any other benefit that is offered. I don’t believe that corporations always do the right thing in regards to their employees but, I also believe that employees have come to believe that they are entitled to more than what is already offered to them. As an employee you do have a choice on whether or not you want to continue to work for any corporation that behaves in this manner.
The intent is to create a healthcare system where health insurance coverage is available to everyone. Coverage is through a joint effort of the government, employers, and individuals. A disparity in coverage often occurs within vulnerable populations. This includes children, unemployed and retired individuals, along with their families. They are more likely to have limited access to healthcare while having an increased need for medical services.
You want information about health insurance and you would like to have it in a easy to understand format. If this is the case, this article will be perfect for you. We will lay out some of the most important tips and guidelines in a way that you can quickly digest.
insurance coverage is important and can be obtained through government sources, employer benefit programs, or private providers.)
Health insurance is currently an important issue in the United States. Everyday more and more Americans become uninsured due to job loss and an increase in premiums. These Americans add to the ever growing population of 45.7 million people who are currently uninsured (Bialik). Moreover only 27% of those uninsured are under the age of 65 (NCHC). This is staggering considering most of those who are uninsured have, or soon will, suffer from some sort of illness or injury. As a result they will not be able to afford proper treatment. Insurance premiums can range in cost from fifty dollars per month, to fifteen hundred dollars per month (Kreidler). An individual’s premium is determined by factors they choose as well as other factors looked at by their provider. The cost of health insurance in America varies depending on the controllable factors, like particular insurance policies, and uncontrollable factors, like age.
Emerging around the mid 1900s, health insurance was created by doctors and medical professionals to provide affordable healthcare for everyone who needed it. Insurance is based off the concept of
Health Insurance costs have gone through the roof nowadays, but finding an inexpensive health insurance plan may not be as hard as you imagine. Here are simple explanations of the four basic plans and save money on them.
As I said earlier there are a number of ways to get Health care. The problem is are they affordable? Well this depends on you annual income and living status. There are a number of private insurance programs such as Blue Cross Blue Shield, but many of these private insurance programs are usually policies that are through employers (Macionis, p 245). This is a problem however because only eighty-five percent of employed people receive health insura...
Insurance is a factor in the health of Americans. Most companies are required to offer insur...
Later, another panel member argued that the purpose of health insurance is not to insure everyone. It should be provided to only cover catastrophic health conditions. Today, not only does health insurance cover catastrophic events, but also there are limits on the amount of out-of-pocket health care costs for essential health care (The White House, 2016). Also, most out-of-pocket costs have been eliminated for preventative care (The White House,
Health insurance provides benefits for sickness, injury, surgery, and prescription medication. There are a variety of plans with different
...andatory health insurance will help protect the financial and health future of families in a lifetime.
For some consumers, buying health insurance is the only health coverage option. However, some of them may still be an option to save money.
You will need to begin retirement planning as soon as you can. When you are young and taken by raising a family, it is difficult to think ahead toward retirement at first. However, this is the time to look into a 401K or a pension plan where you work and put as much as possible into these from every pay check. You need to start investing something toward your retirement. The investment can also be in IRAs, stocks, bonds, mutual funds, money markets, or other investments of your choice. Set aside an amount every week that is strictly for investment. Make this a habit and not be tempted into spending it.
I want to buy a house for my family in the earlier stages of my career, partly pay college tuition for my younger siblings and pay for my master’s degree; budgeting will play an important role to help me manage and save funds to achieve my personal goals. There’s only so much one can plan for and unfortunate events can happen to anyone, so having an insurance coverage is imperative to cover for future losses. I would certainly consider buying homeowner’s insurance, automobile insurance and term-based life insurance and as far as health care is concerned it will covered under fringe benefits from my future