Federal unemployment insurance in the US is funded by a tax on employers and provides payments to unemployed individuals while they search for work. Other countries have different systems, with some relying on general taxes and others on unions. The US system is made up of several stages and has been subject to political and […]
Insurance premium financing allows policyholders to use cash reserves for investments while a lender pays their insurance premiums. Loans have fixed interest rates and lower installment payments. The strategy can be cost-effective if investments generate enough returns to cover the financing costs, but there is a risk of losing financial assets if investments decline in […]
Self-employment disability insurance covers long-term and short-term disabilities for self-employed individuals. Long-term insurance compensates based on salary and short-term insurance covers shorter periods of time. Women can also purchase insurance for pregnancy. Salary fluctuations may require regular updates to the policy. Self-employment disability insurance covers people who work for themselves in the event that they […]
Insurance policies come with a proof of insurance and a declaration of insurance page. The former contains basic information while the latter specifies policy provisions, coverage limits, premiums, and discounts. Both are important to keep on file and are required in case of accidents or moving violations. The declaration page is a full-size document that […]
Professional liability insurance provides financial protection against lawsuits related to one’s profession. It obligates an insurance company to defend and pay a judgment up to a fixed policy amount. It is commonly sold to doctors, lawyers, architects, and engineers. The insurance company must pay an attorney to defend the insured against the claim and pay […]
Stock insurance companies issue shares to the public to raise capital and expand their business. Common shares offer voting rights and dividends to shareholders, while policyholders may also choose to invest in the company. Stock insurers have an advantage over mutual insurers in their ability to obtain additional funds from the financial market. A stock […]
Health insurance fraud, which involves intentionally deceiving or falsifying health insurance claims for financial gain, is a major problem that increases healthcare costs and delays medical care. The three most common forms of health insurance fraud are false claim submissions, false personal injury claims, and overtreatment. It is estimated that insurance fraud costs billions of […]
Sureties are guarantees issued by insurance companies to ensure that contractors or businesses are financially capable of completing a job. They can level the playing field for small and large businesses and may be required for federal or government contracts. The cost of establishing a surety bond depends on factors such as credit and employment […]
Rental equipment insurance covers loss, theft, or damage to rental equipment. It can be obtained through rental companies or insurance providers, but may not cover negligence or recklessness. It is important to review policies and compare prices to avoid excess insurance. Declining insurance may require signing a document accepting responsibility for loss, theft, and damage. […]
Adjustable life insurance allows policyholders to change coverage and premiums. It offers flexibility to decrease or increase benefits, making it useful for those with changing financial circumstances. It differs from variable life insurance as the death benefit amount is fixed. It provides comparable benefits to other life insurance coverage and is available from many insurance […]
A property and casualty insurance license allows agents to sell insurance products such as car, home, and renter’s insurance. Requirements for obtaining a license vary by region and may require classroom education and passing an exam. Renewals and continuing education may also be necessary. Insurance agencies may prefer to hire agents with experience and valid […]
Life insurance agents sell policies that pay out to beneficiaries when the policyholder dies. They may work for a company or independently, selling to individuals or businesses. Agents must be knowledgeable about various plans and options to help clients find suitable products. They may also sell other types of insurance, including health, fire, home, and […]
An insurance account manager oversees and maintains insurance accounts, provides customer service, resolves issues, and secures new accounts. They must develop good relationships with clients and have excellent communication skills. Sales efforts are focused on corporate customers, and experience in insurance and sales is preferred. An insurance account manager is usually responsible for overseeing the […]
