There’s a new type of Web site out there, one that aims to help baby boomers buy long term care Insurance more easily. The idea is that the next generation has seen our parents’ long term care needs and wants to have its own solution. Those who believe that Medicaid will step in are very wrong, and they are certainly not alone as this is a common belief. More can be found here. The first question a buyer may want to ask themselves would be: What is Long Term Care Insurance? The site gives all the details, but in a nut shell, it is the insurance that takes care of people who are too well to be in the hospital, yet to sick to be independent.
Archive for April, 2009
Technology and Long Term Care Insurance
Wednesday, April 29th, 2009Cancellations
Sunday, April 19th, 2009The policies are issued when you cancel the insurance contract terminates. This usually occurs in the following cases:
* Failure to pay the premium.
* Change owner of the thing insured.
* Reluctance.
* Fraud by the insured.
With the cancellation of the policy the insurer is only entitled to a premium for the risk you run.
Claims Settlement
Claims that communication begins with the insured or the beneficiary of the insurance must be made to the insurer, to make this pay the sum insured. For the settlement of claims are required three steps:
1. The verification of the incident.
2. Valuation.
3. The settlement, to make your payment.
In order to fully verify the claim, the insurer requires a series of tests designed to that end and makes all efforts to ensure that it considers appropriate in the event that is covered by insurance.
The valuation of the damage to the insured in the insurance on things is very important because the amount of compensation depends not only on the sum insured, but also the value of things in the days of the incident. The value of insured property requires the intervention of experts or expert liquidators.
Source Point Launches to Aid Businesses in Global Sourcing
Wednesday, April 15th, 2009Source point at SourcePoint.com recently announced the launch a global business to business sourcing directory to aid businesses in sourcing products, services, equipment, devices, materials, components, chemicals and more worldwide. The source point directory and product search engine is based on the United Nations Standard Product and Services Code (UNSPSC) which provide a highly efficient and accurate classification of good and services.
Source point is fast, efficient, useful and completely free. Small business owners and large corporations alike can take advantage of the database to find new manufactures, suppliers and distributors of almost anything and potentially benefit from cost cutting and huge savings. For new business startups procurement becomes simple with quick easy access to the source of products and services worldwide.
For manufactures, suppliers and distributors source point offers free standard listings and also a paid featured listing option that gives priority placement and allows companies to showcase their products. Also featured companies profiles rotate onto the home and the products appear in a key area of the site directly off the home page along with the product search. Having featured products is perhaps the most exciting part of the site for both businesses searching for products and companies who want to increase exposure to their product offerings. To see the website first hand visit: www.sourcepoint.com
Reinsurance Assets and Liabilities
Monday, April 13th, 2009Reinsurance is a contract by which an insurer has taken a direct part of it transferred insurance to another insurer, which therefore takes the responsibility to pay the proportion that corresponds in the event of the risks specified in the insurance contract.
The risk can be assumed that technically an insurance company have a limit, after which imposes the need for reinsurance to transfer to other companies such excess risk.
The basic rule for establishing the limit of risk that can assume is in the uniformity of capital insured for each company.
To avoid an imbalance that can cause lack of uniformity in the capital, the companies reinsure part of insurance that exceeds the normal limit of insurance capital.
The limit of the risks that can run an insurance company is called full. The company that gave the surplus of its full and transferor is called a reinsurance liabilities. The company that takes the reinsurance is called the grantee, and a reinsurance asset.
In turn, a reinsurance asset may be the subject of a new reinsurance with another company. This is called retrocession reinsurance. Usually companies pay to the transferee cedants the same premium charged to policyholders and paid them a commission higher than that payable to their agents or brokers.
In our country reinsurance is regulated by INDER (National Institute of Reinsurance), which monopolizes the domestic reinsurance companies and 30% approx. The foreign companies. In turn the I.N.D.E.R. can go back to their reinsurance companies operating in foreign country or foreign insurers.