Category: Blog

 

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This article will explore your insurance needs, and help you choose the right policies for you.

If you think the insurance company is trying to pull a fast one on you, or any sense that they’re not being totally honest, consult an independent source who can analyze the policy’s documents.

When looking for a policy, look and see if your state offers information about insurance companies and their rates. This will allow you to establish a rough estimate of insurance rates in your area. Knowing the price range is can help you get the policy that is least expensive.

It is always smarter to shop around for insurance coverage. Many people fall into the habit of simply keeping whatever insurance they already have, since re-evaluating their coverage from time to time takes work.

Even if they’d be covered, refrain from filing claims. As you go for long periods of time without filing a claim, most insurance agencies will give you a discount for every year that you remain accident-free.Your full coverage will still be there if you ever have a significant incident.

The Internet is a good source of information when it comes to getting an insurance quote. You’ll know the rates of competing companies and be better prepared to make a choice.

You might find out about a discount you aren’t taking advantage of, a mistake on your account, and incorrect statements. All of these could cost you extra cash that you shouldn’t be paying, so look over your policy one more time.

Shop around to both online and research to get the best interest rates. The more insurance knowledge one has will usually get the best rates for car insurance.

If you have an accident and need a tow, the towing is usually covered under other categories of your insurance, so the likelihood that you will use it is slim.

Look over your insurance coverage every year and ensure that it still fits your current situation. For example, raising your deductible if you need to, or go with a higher deductible with your home policy. You should also adjust your policy if there has been a change in medical needs and family size.

Although frustrating and confusing, proper insurance coverage should never be ignored. Apply the pieces of advice you’ve just read in order to locate prices that are fair and the coverage that you require. Keep a checklist of all your policies and any information about policies you are thinking about getting so you can make a comparison.

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Buying good life insurance should be a very important financial decision for people with children or others who depend on them financially. If you were to die, they need money for your final expenses and for them to live comfortably. The following article will assist you in choosing and purchasing a life insurance policy to fit your needs.

Compare prices from different companies when considering a life insurance policy you want to purchase. Premiums for life insurance can vary greatly between insurance providers, so try using online comparisons to find cheaper quotes. You also want to take in consideration your medical history when shopping around for quotes.

Hobbies and professions that are risky or hazardous may cost you dearly when you purchase life insurance cost. If you are paying too much for insurance, you may have to give up bungee jumping, scuba diving or skydiving. Traveling to foreign countries with civil unrest or high disease rates could also cause you to become ineligible for discounts.

Make sure that you tell them about any job or occupations that could be high risk. While it could cost more money for you, it’s better than having a claim declined by the insurance company. If you do decide to withhold this information, and then you are injured, you will subject to stiff penalties.

Do not put in too much personal information to get a quote on an online insurance form. There are many identity theft rings that use the guise of life insurance related phishing scams online. Keep in mind that many quotes can be provided with just your zipcode.

Provide the beneficiary with the details of sum insured, where you have located the policy documentation, and the contact details for the financial representative they should contact to make a claim when the need arises.

In the case of your death, your life insurance policy will provide your family with financial stability, or enable your children to attend college.

Decide on how you will approach the best route to take in order to purchase a life insurance policy. You can either do this by yourself or get it through your employer-provided policy. You may also get a financial planner that’s fee only, buy a policy from a financial planner working on commission, or buy it from an insurance agent.

Families that are consumed with grief over the death of a loved one should not also have to deal with financial stress. If you should meet your demise, it is critical that your dependents have the means to continue meeting financial obligations and avoid financial ruin. Follow this advice to find the best insurance policy for your needs.

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Buying life insurance is very important to make sure your loved ones are cared for if something bad happens to you. The following article will help you find the most suitable life insurance policy for you.

Before you purchase any type of life insurance, you should find out exactly how much coverage you really need and use that as a guide for your decision. If you purchase unnecessary options or too little coverage, you will end up paying costly premiums without seeing any return.You will feel a lot more protected when you decide on the right decision for life insurance wisely.

Take the time to shop about and compare prices and policies before buying a policy. Premiums for life insurance can vary greatly between insurance providers, so try using online comparisons to find cheaper quotes. You should only compare quotes that take in consideration your medical history.

Since healthier people have a longer life expectancy, they often get better deals from insurance companies.

Don’t pay higher commissions when purchasing life insurance.

Use the web to hunt down good deals on life insurance policies.

You may be able to pay less for life insurance coverage to save more than a minimal amount. Some insurance carriers charge less if you get more coverage, which saves you money and provides more coverage for your family in case something happens.

Watch out for tell-tale signs of shadiness from the person you are working with. If the agent claims that they know more about the insurance companies than the rating agencies do, or claims to have inside information, or if they act as if they know more than anyone else, file a complaint.

The reason is that an independent broker will usually have the ability to provide you with lots of different products from lots of different firms, whereas an insurance firm will only offer the products from their own company. Life insurance is considered a major long term responsibility, so consider your options before plunging into a contract.

Think about getting a life insurance policy to make sure your family is taken care of. When considering policies, it is crucial to find one that is most suitable for the well being of your family or loved ones. Heed the advice from this article, and find the right insurance policy.

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Medical Malpractice Insurance – Problems That Transcend Time and Place

Today’s insurance crisis for doctors is only a small part of a much larger insurance problem that is affecting homeowners, motorists and all kinds of policyholders, including consumers in other countries, all at the same time.

We are hearing more about doctors’ and hospitals’ insurance problems today for several reasons. When insurance companies impose arbitrary rate hikes on certain doctors and hospitals that are so high, or in some cases make insurance unavailable at any price, these doctors and hospitals cannot function, a situation that can reduce access to health care.

Unlike homeowners or motorists, the well-organized and well-funded American Medical Association (AMA) has moved quickly to take political advantage of the insurance situation, devoting $15 million to it this year. The AMA and associated medical lobbies are not pushing for insurance reform, however. They are primarily lobbying for organized medicine’s longstanding priority – lawsuit restrictions – even though such limits will not solve the current insurance crisis.

Doctors’ current insurance problems are no different from those affecting:

Other lines of insurance. Skyrocketing premiums and cancellations of homeowners’ policies are at crisis proportions in many states. In Texas, where insurance rates are going up 500 percent for some, The Governor called the top three writers in his state (Allstate, Farmers and State Farm) “an insurance cartel” taking action “to bring the state to its knees.” He has sued Farmers Insurance for deceptive trade practices leading to these astronomical rate hikes. Auto insurance, liability policies for small businesses and commercial properties and even health insurance policies are starting to experience steep increases as well.

Other countries – Over the past year, industry publications like Best Wire and Best’s Insurance News have reported repeatedly on a similar insurance crises that exists in Australia, and on price hikes that Canadian policyholders are starting to experience. In fact, CJ&D and AIR representatives have been in demand by Australian programs like 60 Minutes Australia as well as the Australian Broadcasting Network to discuss parallels between the U.S. and Australia’s current insurance problems.

Volcanic eruptions in insurance premiums have occurred three times in the last 30 years – in the mid 1970s, again in the mid-1980s, and now today. In the mid-1980s, news reports reminiscent of today included: “Doctors are threatening to quit practicing some specialties or move out of the state.”   In the 1980s, lawmakers in some 46 states passed “tort reforms” after being told by insurance companies and others that this was the only way to reduce high insurance rates. Evidently, it didn’t work.

QUESTION: How can restrictions on U.S. jury awards in medical malpractice cases solve an insurance crisis that affects many other lines of insurance, including homeowners’, auto and health policies, and even insurance in other countries?

QUESTION: In the mid-1970s and mid-1980s, lawmakers around the country enacted extensive “tort reforms” after being told by insurance companies and others that this was the only way to reduce skyrocketing insurance rates. If this were the solution, why are we faced with an identical insurance crisis today?

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Myths About Litigation, Defensive Medicine and Costs

Medical malpractice litigation in this country is far from frivolous. In a major study released, the National Academy of Sciences Institute of Medicine found that up to 98,000 people are killed each year by medical errors in hospitals – far more than die from car accidents, breast or AIDS. (These figures vastly underestimate the magnitude of the problem since hospital patients represent only a small percentage of the total population at risk). Yet eight times as many patients are injured by medical malpractice as ever file a claim; 16 times as many suffer injuries as receive any compensation. Moreover, according to the National Center for State Courts, there has been no change in the volume of medical malpractice cases in the last five years.

Medical malpractice costs make up only a tiny fraction of total health care costs. According to a study by the Consumer Federation of America, medical malpractice costs, as a percentage of health care costs, are at an all time low, 0.55 percent. Report author J. Robert Hunter, former Texas Insurance Commissioner and Federal Insurance Administrator, said, “Medical malpractice insurance is amazing value, considering that it covers all medical injuries for about one-half of one percent of health system costs!”

Far more costly than malpractice lawsuits are the costs of medical errors. Total national costs (lost income, lost household production, disability and health care costs) of negligence in hospitals are already estimated to be between $17 billion and $29 billion each year, of which health care costs represent over one-half. Moreover, these figures vastly underestimate the magnitude of the problem since hospital patients represent only a small percentage of the total population at risk, and direct hospital costs are only a fraction of the total costs.

Defensive Medicine –  At most, a very small portion of health care costs result from” defensive medicine.”  The Office of Technology Assessment (OTA) was asked initially by proponents of sweeping malpractice tort restrictions to study the issue. OTA found, among other things, that only “a relatively small proportion of all diagnostic procedures – certainly less than 8 percent – is likely to be caused primarily by conscious concern about malpractice liability risk.” OTA found that “Most physicians who order “aggressive diagnostic procedures … do so primarily because they believe such procedures are medically indicated, not primarily because of concerns about liability.” The effects of traditional tort reforms – particularly caps on damages and amendments to the collateral source rule – on defensive medicine “are likely to be small.”

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QUESTION: If the cost of medical errors is far greater than the costs of medical malpractice lawsuits brought by the small number of injured patients who actually file cases, how can reducing the number of lawsuits – lessening the financial incentives for hospitals and HMOs to operate safely – lower the system’s costs?

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Medical Malpractice Insurance – Problems That Transcend Time and Place

Today’s insurance crisis for doctors is only a small part of a much larger insurance problem that is affecting homeowners, motorists and all kinds of policyholders, including consumers in other countries, all at the same time.

We are hearing more about doctors’ and hospitals’ insurance problems today for several reasons. When insurance companies impose arbitrary rate hikes on certain doctors and hospitals that are so high, or in some cases make insurance unavailable at any price, these doctors and hospitals cannot function, a situation that can reduce access to health care.

Unlike homeowners or motorists, the well-organized and well-funded American Medical Association (AMA) has moved quickly to take political advantage of the insurance situation, devoting $15 million to it this year. The AMA and associated medical lobbies are not pushing for insurance reform, however. They are primarily lobbying for organized medicine’s longstanding priority – lawsuit restrictions – even though such limits will not solve the current insurance crisis.

Doctors’ current insurance problems are no different from those affecting:

Other lines of insurance. Skyrocketing premiums and cancellations of homeowners’ policies are at crisis proportions in many states. In Texas, where insurance rates are going up 500 percent for some, Governor Rick Perry called the top three writers in his state (Allstate, Farmers and State Farm) “an insurance cartel” taking action “to bring the state to its knees.” He has sued Farmers Insurance for deceptive trade practices leading to these astronomical rate hikes. Auto insurance, liability policies for small businesses and commercial properties and even health insurance policies are starting to experience steep increases as well.

Other countries. Over the past year, industry publications like Best Wire and Best’s Insurance News have reported repeatedly on a similar insurance crises that exists in Australia, and on price hikes that Canadian policyholders are starting to experience. In fact, CJ&D and AIR representatives have been in demand by Australian programs like 60 Minutes Australia as well as the Australian Broadcasting Network to discuss parallels between the U.S. and Australia’s current insurance problems. See., e.g., http://www.abc.net.au/worldtoday/s591441.htm.

Other times. Volcanic eruptions in insurance premiums have occurred three times in the last 30 years – in the mid 1970s, again in the mid-1980s, and now today. In the mid-1980s, news reports reminiscent of today included: “Doctors are threatening to quit practicing some specialties or move out of the state while South Florida hospitals and trauma centers have threatened to shut down or have curtailed services,” (St. Petersburg Times), May 7, 1987; “Doctors and hospitals in [West Virginia] have been saying for weeks that they would have to close their doors at the end of this month when three major insurance companies planned to cancel malpractice insurance coverage” (Washington Post, May 24, 1986) In the 1980s, lawmakers in some 46 states passed “tort reforms” after being told by insurance companies and others that this was the only way to reduce high insurance rates. Evidently, it didn’t work.

QUESTION: How can restrictions on U.S. jury awards in medical malpractice cases solve an insurance crisis that affects many other lines of insurance, including homeowners’, auto and health policies, and even insurance in other countries?

QUESTION: In the mid-1970s and mid-1980s, lawmakers around the country enacted extensive “tort reforms” after being told by insurance companies and others that this was the only way to reduce skyrocketing insurance rates. If this were the solution, why are we faced with an identical insurance crisis today?

=======================gtg

Myths About Litigation, Defensive Medicine and Costs

Medical malpractice litigation in this country is far from frivolous. In a major study released, the National Academy of Sciences Institute of Medicine found that up to 98,000 people are killed each year by medical errors in hospitals -far more than die from car accidents, breast cancer or AIDS. (These figures vastly underestimate the magnitude of the problem since hospital patients represent only a small percentage of the total population at risk). Yet eight times as many patients are injured by medical malpractice as ever file a claim; 16 times as many suffer injuries as receive any compensation. Moreover, according to the National Center for State Courts, there has been no change in the volume of medical malpractice cases in the last five years.

Medical malpractice costs make up only a tiny fraction of total health care costs. According to a study by the Consumer Federation of America, medical malpractice costs, as a percentage of health care costs, are at an all time low, 0.55 percent. Report author J. Robert Hunter, former Texas Insurance Commissioner and Federal Insurance Administrator, said, “Medical malpractice insurance is amazing value, considering that it covers all medical injuries for about one-half of one percent of health system costs!” Memo from Joanne Doroshow to Interested Persons with attached spreadsheet prepared by J. Robert Hunter, Director of Insurance, Consumer Federation of America,

Far more costly than malpractice lawsuits are the costs of medical errors. Total national costs (lost income, lost household production, disability and health care costs) of negligence in hospitals are already estimated to be between $17 billion and $29 billion each year, of which health care costs represent over one-half. Moreover, these figures vastly underestimate the magnitude of the problem since hospital patients represent only a small percentage of the total population at risk, and direct hospital costs are only a fraction of the total costs. Kohn, Corrigan, Donaldson, Eds., To Err is Human; Building a Safer Health System, Institute of Medicine, National Academy Press: Washington, DC.

Defensive Medicine. At most, a very small portion of health care costs result from” defensive medicine.” The Office of Technology Assessment (OTA) was asked initially by proponents of sweeping malpractice tort restrictions to study the issue. OTA found, among other things, that only “a relatively small proportion of all diagnostic procedures – certainly less than 8 percent – is likely to be caused primarily by conscious concern about malpractice liability risk.” OTA found that “Most physicians who order “aggressive diagnostic procedures … do so primarily because they believe such procedures are medically indicated, not primarily because of concerns about liability.” The effects of traditional tort reforms – particularly caps on damages and amendments to the collateral source rule – on defensive medicine “are likely to be small.”

Dr. Wayne Cohen, who was then medical director of Bronx Municipal Hospital, said, “The city was spending so much money defending obstetrics suits, they just made a decision that it would be cheaper to hire people who knew what they were doing.” Dean Baquet and Jane Fritsch, “New York’s Public Hospitals Fail, and Babies Are the Victims,” New York Times.

QUESTION: If the cost of medical errors is far greater than the costs of medical malpractice lawsuits brought by the small number of injured patients who actually file cases, how can reducing the number of lawsuits – lessening the financial incentives for hospitals and HMOs to operate safely – lower the system’s costs?

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