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1/8/2009
Thursday morning
This topic is closed off and you will be taken directly to the website.
Topics taken from open source list. I hope you find this useful.
This site is for our clients only as an information resource.
| Note that its often illegal for the doctor to offer you, as an
insured patient, a discount. He cannot waive the copayment, even
if he wants. However, in the past, some hospitals were getting
secret discounts from the insurors, even beyond the official
discounts. Anyone in the insurance industry care to comment on
whether this still occurs? |
| www.insweb.com
chk: Learning Center
or This from www.clarkhoward.com
(certified tightwad)
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Consider your own situation to see if life insurance makes sense for
you, how much you need, and which type of life insurance would be best.
If your family would be unable to make the mortgage payments without
your income, you need life insurance.
??Life insurance is meant to replace your income. My rule of thumb
is to buy an amount equal to six times your annual salary.
??If both spouses work, both should have life insurance to replace
their own income. Dont buy insurance on your children.
??There are two primary types of life insurance. Term life coverage
provides a payment only if you die. Whole life builds a cash value and
serves as a savings vehicle.
??Buy whole life only if you can afford it and can dedicate yourself
to making the premium payments for at least 15 years.
??If you decide to get term life insurance, the best way to buy is
by cal. |
| 4. Concerning your right to sue the insurance company if they
dont come thru, in most cases you will collect only the cost of
the service they refused to provide. Consider the statistical
implications of this. Say the company provides to provide 3
treatments you need, because theyre experimental or whatever.
You survive the first two, but lack of the 3rd kills you. If your
heirs sue and win, they will recover only the cost of that 3rd
treatment that should have been performed. This makes it just
good business for the company to pay as little as it can.
Remember that the companys legal duty is to make as much money as
possible for its shareholders. Some are quite successful; one of
the richest men in the US a few decades back got that way by
selling insurance policies to poor people. |
| What type of insurance should you get? Consider only level term
insurance. Its a pure and simple death benefit with no savings attached
(no tax advantages). Premiums are guaranteed for the term of the policy.
You should consider a term policy for the number of remaining years
until retirement. For example, if you are now 35 you should consider a
30-year level term policy. If you are 45 years of age, consider a
20-year plan. One rule of thumb is to take out a policy amount that is
at least 10 times greater than your annual income. If you currently make
$25,000 per year - take out a $250,000 policy. Keep that policy in mind
as your income increases through the years. |
| If you still have problems, state attorney generals tend to be one
source of help. Your state department of insurance may also have a
consumer complaint department. |
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