Types of Life Insurance

Term Life Insurance

Term Life pays a lump sum upon the death of the life insured, this provides protection to your loved ones. In the event of the persons death the lump sum will assist in paying off any outstanding debts such as a mortgage. There should usually be excess over debts to assist your family especially if you have children.

Some policies provide extra benefits, such as terminal illness benefit, where if you are diagnosed with a terminal illness the amount insured is paid out.

The cost of Term Life cover increases as you get older, however the older and more established your financial position is the less insurance you are likely to need. Therefore it's possible to reduce your insurance over time to minimise cost but maintain protection for yourself and your loved ones.

Total and Permanent Disablement Insurance (TPD)

An option with Term Life is to take an extension of Total and Permanent Disablement Insurance (TPD). TPD insurance provides a lump sum payment in the event of the life insured becoming totally and permanently disabled.

Trauma Insurance

Trauma policies pay a lump sum in the event of an injury or sickness as defined in the policy, for example cancer, heart attack, stroke. This can be taken as a stand alone policy, or attached to a life insurance policy.

There are basic trauma policies and there are extended trauma policies that cover a greater level of events (we only quote on the extended cover). Some policies offer TPD as a definition of trauma, therefore this can provide cost savings.

The average age of a trauma event is 42, therefore it's costly, however it should form part of any complete insurance coverage. The important thing to remember is that with a trauma event you do not need as much cover as life insurance.

Income Protection

Probably the most crucial and flexible insurance. Designed to replace your income if you are unable to work due to sickness or injury. Your most valuable asset is the ability to produce an income and this must be protected.

There are basic policies, which might be limiting in the time of a claim, and then there are extended, or plus policies which are preferred.

Income Protection is an extremely flexible policy, you choose the waiting period, this is how long you must be unable to work before the insurance begins to pay you. Variables are 14, 30, 60 and 90 days, 6, 12 and 24 months. Therefore it can be tailored to cover you once any accumulated sick and long service leave are used. The benefit period is how long the policy will pay you if you are unable to work, again this can be tailored: 2 and 5 year benefit, or to a specific age, 55, 60 or 65.

Importantly, the cost of income protection is fully tax deductible. The cost varies significantly based upon the waiting period, benefit period, amount of income insured and the insured occupation.

source:LifeBroker.com.au

Australian Insurance Sites

AAMI Insurance
Comment: With more than 40 branches around Australia, AAMI has you covered! Having trouble deciding how much your home and contents policy should cover? Use the online calculator to get a quick estimate. Find information on the car and caravan products also offered. If you need further assistance call the 24 hour help line for instant advice and help with your policy.


National Roads and Motorist Association (NRMA)
Comment: If you're looking for a company that can provide you with the full composite of insurance cover, then NRMA should be your first stop. Get an estimate, apply and pay for your policy over the internet with the added option of being able to change your details at your own convenience. Cover includes everything from home and contents through to boat, motor and commercial policy.


Allianz Insurance
Comment: As one of the world's leading global insurance players, Allianz can service you where ever in the world you may be. With a comprehensive insurance product suite, you can get cover for your home, boat, car, and commercial properties all under the same roof. Quotes can be obtained within 2 minutes by completing a simple online form - taking the hassle out of insurance paperwork!


Westpac
Comment: This site features everything you've come to expect from a banking site. Register for online banking (including access to non-Westpac account information), trade your share portfolio online and calculate your mortgage potential and payments. Apply for loans and credit cards, or buy foreign currency and have it waiting at your nearest branch for your next holiday.


MBF
Comment: Check out the health information and view your health cover options on this site. You can get a detailed membership quote, join online or get a cover note. Members can login and access their membership information. They can view or update cover, check claim history and arrange payment. Read the latest good health news and advice.


National Australia Bank
Comment: This site is packed with information and online services for the National Australia Bank. Whether you want to apply for a credit card or access a comprehensive range of calculators and financial tools, you can do it by clicking here. You can also access internet banking or online share trading.


AMP
Comment: The AMP website offers access to just about everything the financial institution has to offer, from online banking to investments. You can register for online share trading, organise insurance or sort out your superannuation - all from your desktop. There's a wide range of information and calculators to help you budget savings, investments and loans.


Australian Pensioner's Insurance Agency (APIA)
Comment: Over 55 and looking for an Insurance agency that understands? APIA is dedicated to servicing the mature Australian community with policies that are tailored to suit. Cover can be provided for home, motor, boat, caravan and travel - and it can all be arranged online. A guide is also available on the site to help you understand the policy jargon.


Medibank Private
Comment: View the benefits of being a member of one of the major health insurance providers. Use the product comparator to find the best cover for you and your family. Members can access great online services. You can pay your premium, update your details, download a claim form and order a replacement memebership card. Get a quote online or read the health and well being information.


Insurance Watch
Comment: How much insurance do you need? When do you need insurance? Like someone else to answer all these questions and do the leg work for you? Get an online quote for motor, home, travel, commercial, marine and personal life insurance. Get some extra advice in the Tips and Traps section - a must for all first timers.

source:Oz Net Guide

See also:
RAC (WA)
SGIO
CGU
HBF

Pet Health Insurance

Health insurance is a must for humans and as veterinary costs continue to rise, increasing numbers of cat owners are buying health insurance for their cats. Whether or not health insurance for cats is necessary is a subject of debate even among cat owners. The concept may seem new but pet health insurance has existed in Europe for decades.

Health insurance for cats is similar to human health insurance. Like all types of insurance, pet health insurance offers a safety net for unexpected health expenses. Pet health insurance coverage can be written to include wellness check-ups as well as coverage for medical care.

Proponents of pet health insurance believe that one major medical event make paying premiums worthwhile. Other cat owners feel that their pets are healthy and that the cost of premiums exceeds the out of pocket money spent on check-ups and routine care during any calendar year.

It’s wise to investigate before buying veterinary health insurance for a cat. Just as many health insurance plans will not cover pre-existing conditions in humans, cat insurance carriers often opt not to cover pre-existing conditions in felines. These can include any chronic conditions, past injuries, flea control, dental, and sterilization.

The age of the cat to be insured is also important. Younger cats will have lower paying premiums than older cats and some insurance carriers have age limits, meaning that older cats may not enjoy full coverage or may be excluded from having health insurance.

One of the best options for pet health insurance is a plan that allows the owner to seek medical care at any veterinarian’s office. Some plans limit care to a network of veterinarians just as human health insurance often limits care within a particular health system or network.

If choosing pet health insurance, choose insurance that allows freedom of choice for treatment.
Look for low deductibles and small co-pay amounts. In reality, most pet health insurance pays between 50% and 75% of the total medical charges so don’t expect not to pay out of pocket.

Read the fine print of health care policies with care to check for maximum amounts of benefits that can be paid within a year or in a cat’s lifetime. This figure should be high enough to include any expected or possible expenses.

Consider the needs of the individual cat and don’t accept a blanket policy that covers some but not all of the cat’s needs. Riders can be included to coverage things such as extended care, boarding fees if the owner is hospitalised, recovery fee for advertising lost pets and retrieving them from a shelter, dental care, and even accidental death. Be aware that the more coverage that is provided, the higher the premiums and cost to the owner.

Each cat owner must also decide whether or not the cost of health insurance for his or her pet is worthwhile. Before making a decision, add up vet costs over the past year for each cat. If the amounts are less than a year’s worth of health insurance premiums and out-of-pocket deductibles, it might be best not to opt for insurance. If the cat is older, consider the cost for an elderly cat and read the fine print to learn if cats of this age are covered.

Health care technology has increased for pets as well as humans. Costs have risen with the ability to treat cats with similar care as their human companions. For this reason, many veterinarians endorse pet health insurance because one medical emergency can cost large sums of money. Too often, some cats are euthanized when owners are unable to afford necessary treatment. Few cat owners want to lose a beloved pet because of financial constraints and cat health insurance can help lower costs.

If pet health insurance seems like a viable option, compare insurance providers before making a final decision. Look for a company with a solid background and history in offering health insurance for pets. Choose the health policy that best suits the needs of the cat in question and be sure all details are understood.

The price of pet health insurance seems to be a low price to pay for improved health and medical care for dear companions and friends but each cat owner must make their own choice.

source: Cat World - A great resource for Pet information

Private health insurance tips

It is not all bad news because it is possible to save hundreds of dollars just by shopping around. Check our health insurance guide (free for members).
A word of warning, however. Be cautious when changing funds - you may have to serve benefit limitation periods and waiting times.

It's important to remember that, under Medicare, all Australians are entitled to free treatment in a public hospital, regardless of their insurance status.

Private health insurance gives you:

access to a private hospital which might be more luxurious than a public hospital
greater choice of doctor than you would get if you were treated in the public system and:
possibly shorter waiting times for some forms of elective (non-urgent) surgery.
Another thing to consider are the government incentives:
Lifetime health cover penalises people who take out health insurance later in life with higher premiums. If you join after your 31st birthday you pay a 2% surcharge per year up to a maximum surcharge of 70%. So, for example, if you join at 45 you pay 30% more than someone who joined at 30.
Medicare levy surcharge: Singles earning more than $50,000 and couples/families with incomes over $100,000 (plus $1500 for each child after the first) pay an extra 1% Medicare surcharge -- on top of the 1.5% Medicare levy most people pay. That means at least an extra $500 or $1000 each year. You can avoid this by taking out hospital insurance.
Which policy should I choose?
Health funds brochures can be difficult to understand and to compare but there are some general things to remember.
You can save money on your premium by:

Buying a product with an excess (an excess is an amount of money a member agrees to pay for a hospital stay before benefits are payable).
Buying a product where you pay a co-payment if you go into hospital (the member agrees to pay an agreed amount each time a service is provided -- usually a set amount per day).
Buying a product that excludes treatment for some conditions.
Buying a product that only covers you as a private patient in a public hospital.
You should check how many times the excess applies per calendar year. Sometimes it applies once, sometimes three times. As a general rule it's better to save money by choosing a product with a high excess rather than choosing a product that excludes treatment for some conditions.

A number of policies also place limits on some treatments (which means that the fund will only meet part of the costs) and may exclude coverage for some treatments altogether.

Commonly limited and excluded treatments include:

Assisted reproduction
Coronary bypass and major heart surgery
Cosmetic surgery
Cataract surgery
Hip, knee and other joint replacements
Obstetrics and birth related care
Psychiatric Care
Rehabilitation
So remember, if you specifically want coverage for any of these things, make sure you check and double check with your health fund to make sure they aren’t excluded or limited in any way.

source:Choice - follow to view more information.

What does private health insurance provide?

It's important to remember that, under Medicare, all Australians are entitled to free treatment in a public hospital, regardless of their insurance status.

Private health insurance provides you with:

• access to a private hospital which might be more luxurious than a public hospital
• greater choice of doctor than you would get if you were treated in the public system and:
• possibly shorter waiting times for some forms of elective (non-urgent) surgery.
  

source:Choice - follow to read more

Insurance Tips for Travellers

There are many things to consider when travelling overseas including passport, tickets, exchange rates, accommodation and what to pack. While overseas travel can be an exciting prospect, there can be situations where things may go wrong and travellers find themselves needing urgent medical assistance, help with replacing lost luggage and/or assistance with making an urgent trip home. This is where Travel Insurance can help along with providing peace of mind for travellers who may find themselves in any of these situations. Travellers should thoroughly read the policy before they purchase travel insurance to ensure it meets all their needs and provides the appropriate level of cover. To help you decide on what type of travel insurance you need, the Insurance Council of Australia advises that travellers consider the following prior to taking out a travel insurance policy:

General information
Travel policies cover a wide range of possible claims which include overseas medical expenses, repatriation expenses, lost luggage, trip cancellation and liability. This makes them different to many other policies in that for a relatively small premium of a few hundred dollars, there could be a potential payout of hundreds of thousands of dollars in medical fees/evacuation. Accordingly, the policy wording needs to be precise and certain risks may be excluded from the cover in order to keep the premium affordable.

When choosing a cover for overseas travel, make sure the policy will be recognised around the world. In some countries, if they don't recognise the insurance underwriter, they may not admit you to a hospital.

If you are travelling overseas, make sure that you are aware of who your emergency assistance provider is and how you can contact them. In the event of a travel emergency, you will need to contact them to faciliate the provision of emergency medical treatment and/or other required services. Details of the provider and contact numbers are shown on the assistance card provided with or within your policy document.

Exclusions
Be aware of exclusions. Most travel insurance policies won't cover luggage that is left unattended in public places and the insolvency of the service provider, such as an airline, may be excluded. Travel policies generally don't cover for war and warlike activities and may not cover for terrorism.

Pre-existing Conditions
Declare any pre-existing conditions both for you and any relatives at home. In most cases a travel insurance policy won't provide cover if you fly home early because a relative was being treated for a pre-existing condition and dies as a result of that condition. In many policies, a pre-existing medical condition is regarded as any condition for which you have been to see a doctor or taken medication in the previous month before you buy travel insurance. Some policies may not provide cover if the relative is over a certain age. Travelling companions (eg not a family member) are normally covered for breaking their trip if you get sick or vice versa but again you must declare if your companion has a pre-existing illness at the time of taking out the policy. Disinclination to travel is not covered.

Duty Free
Duty free or other goods bought overseas are covered subject to policy limits, but you must have receipts as proof of purchase.

Medical
If you become ill or are injured, contact your travel assistance provider and collect all the medical and other related documentation required for your claim. Make sure you get a signed statement from the Registrar of the hospital where you were treated.

For the USA, Japan and Europe, make sure you have unlimited cover for hospital and medical costs - $500,000 is not uncommon for medical expenses in the United States. Australia does have reciprocal rights with some countries for Medicare-type cover (eg UK). A brochure which lists these countries is usually available at airports or through travel agents. PLEASE NOTE: Beds may not be available in a public hospital and you may still end up being treated and charged as a private patient.

Most quality policies include full medical evacuation. However, don't assume anything until you have checked with your insurer or agent. Don't book a first class seat so you can stretch out your broken leg before checking with your assistance provider.

Safety
With regard to cancellations due to safety concerns or decisions to boycott countries (eg the Middle East in light of recent events), travel insurers rely on warnings and bulletins issued by the Department of Foreign Affairs and Trade. If you are concerned, or just decide to cancel your trip in the absence of an official warning against travel, your insurance may not cover the cancellation.

Travel Insurance related to age:
Travel insurance is moving more toward 'preferred risk-rating' rather than 'community-rated' ie due to the ageing population it is becoming increasingly difficult for the young, fit and healthy to support the growing higher risk area associated with older people. In some cases, this may impact on someone who is considered a high risk when attempting to obtain travel insurance.

The assessment of travel cover is based on four main factors:

Age
Destination (eg it is much easier to obtain insurance when travelling to New Zealand than countries such as the USA). A rough guide is that whatever you pay in Australia for treatment in a private hospital situation could be multiplied 10-15 times for basic hospital treatment in the United States.
Length of stay overseas
Any pre-existing conditions
Age may impact on the availability of travel insurance from about 65 years upward but it also depends on:

the premium that the traveller is willing to pay (there may be access to insurance for some areas at a higher premium),
the country they intend to travel to (USA and Canada is much more difficult to obtain cover because of high medical costs),
the time they intend to spend away, and
any pre-existing ailments.


Travel, like other insurance is highly competitive, so if you are not happy with the terms and conditions offered by a policy, shop around.

For further information about travel insurance and general advice in this area contact either your travel agent or travel insurer.

General Insurance, Code of Practice
Members of the Insurance Council of Australia must adhere to the General Insurance Code of Practice, which sets out requirements such as proper training of staff, plain language wording and internal dispute handling procedures.

Insurance Ombudsman Service (IOS) is responsible for the administration of the Code. IOS can provide independent advice to consumers and is also responsible for the administration of the General Insurance Enquiries and Complaints Scheme. The scheme is free to consumers and the IOS can be contacted on free call 1300 780 808.

source:Insurance Council of Australia Limited

Why all Australians should take out travel insurance before going overseas

For most Australians overseas travel is a wonderful experience. Unfortunately, however, every day consular officers of the Department of Foreign Affairs and Trade at home and overseas deal with human tragedies involving the death, injury or hospitalisation of Australians abroad. Each year the department handles over 20,000 cases involving Australians in difficulty overseas. This includes over 700 hospitalisations, 600 deaths and 100 evacuations of Australians to another location for medical purposes.

In cases where victims are not covered by travel insurance, such personal tragedies are further compounded by a long-term financial burden. Hospitalisation, medical evacuations, or even the return of the deceased's remains to Australia, can be very expensive. Daily hospitalisation costs in Southeast Asia regularly exceed $800; return of remains from Europe in excess of $10,000. The cost of medical evacuations from the United States regularly range from $75,000 to $95,000 and sometimes up to $300,000. The department has handled medical evacuations from nearby Bali in which costs have exceeded $60,000.

Unfortunately, not all of these cases involved travellers covered by travel insurance. Travellers who are not covered by insurance are personally liable for covering incurred medical and associated costs. As a result, we have known instances where families have been forced to sell off assets, including their superannuation or family homes, to bring loved ones back to Australia for treatment.

Despite these stark statistics, it is not the department's intention to discourage Australians from travelling, which in almost all cases is a very positive experience. Only 0.6% of Australians travelling overseas encounter difficulty each year.

Instead, one of our key messages to Australian travellers is that there are things you can do to help reduce the likelihood of becoming one of the more unhappy consular statistics. With accidents or illness often unavoidable, proper travel insurance is very important in this context. Of course, the all-too-common occurrence of theft and loss of personal belongings is also something all Australian travellers should insure against. Each year the department handles over 16,000 cases involving the welfare of Australians who have suffered illness, theft, robbery or assault.

In choosing a policy, we would note some insurance policies will not always cover claims made in those countries to which the Department of Foreign Affairs and Trade recommends against travel. For up-to-date travel advice visit Smart Traveller

source:SmartTraveller

Private Health Insurance Ombudsman

[b]What is the Private Health Insurance Ombudsman?[/b]

The Private Health Insurance Ombudsman deals with inquiries and complaints about any aspect of private health insurance.

The Private Health Insurance Ombudsman also provides and publishes independent information about private health insurance and the performance of health funds.

The Private Health Insurance Ombudsman is independent of the private health funds, private and public hospitals and health service providers.

The Private Health Insurance Ombudsman is an Australian Government agency and is funded by the Australian Government but acts independently of the Government in dealing with complaints and reporting.

[b]Who is the The Private Health Insurance Ombudsman?[/b]

Mr John Powlay was appointed The Private Health Insurance Ombudsman in November 2002.

Why insure?

Insurance may not be a glamorous or exciting topic, however it is an essential part of our lives.

Protecting your family, your income and your assets against the unforeseen should be an important inclusion in any financial plan. You could call it your ultimate investment. For a small regular premium, you can insure against being left debt ridden or a financial burden to your family.

Ask yourself these questions: Should your family's income earner die, who will pay the mortgage? Should you get cancer, have a heart attack, be involved in an accident or become incapacitated by illness, how will you and your family continue to survive financially?

Many people say it will never happen to them but can you afford to take the risk? Insurance brings with it peace of mind and the ability to plan for the future with confidence.

source:Insurance Watch

Australia's Most Popular Insurance Companies

Budget Direct Australia	SGIO	NRMA
CGU	RAC	ABBI
GIO	AAMI	QBE

Insurance Tips for Travellers

There are many things to consider when travelling overseas including passport, tickets, exchange rates, accommodation and what to pack. While overseas travel can be an exciting prospect, there can be situations where things may go wrong and travellers find themselves needing urgent medical assistance, help with replacing lost luggage and/or assistance with making an urgent trip home. This is where Travel Insurance can help along with providing peace of mind for travellers who may find themselves in any of these situations. Travellers should thoroughly read the policy before they purchase travel insurance to ensure it meets all their needs and provides the appropriate level of cover. To help you decide on what type of travel insurance you need, the Insurance Council of Australia advises that travellers consider the following prior to taking out a travel insurance policy:

General information

• Travel policies cover a wide range of possible claims which include overseas medical expenses, repatriation expenses, lost luggage, trip cancellation and liability. This makes them different to many other policies in that for a relatively small premium of a few hundred dollars, there could be a potential payout of hundreds of thousands of dollars in medical fees/evacuation. Accordingly, the policy wording needs to be precise and certain risks may be excluded from the cover in order to keep the premium affordable.

• When choosing a cover for overseas travel, make sure the policy will be recognised around the world. In some countries, if they don't recognise the insurance underwriter, they may not admit you to a hospital.

• If you are travelling overseas, make sure that you are aware of who your emergency assistance provider is and how you can contact them. In the event of a travel emergency, you will need to contact them to faciliate the provision of emergency medical treatment and/or other required services. Details of the provider and contact numbers are shown on the assistance card provided with or within your policy document.

Exclusions

• Be aware of exclusions. Most travel insurance policies won't cover luggage that is left unattended in public places and the insolvency of the service provider, such as an airline, may be excluded. Travel policies generally don't cover for war and warlike activities and may not cover for terrorism.

Pre-existing Conditions

• Declare any pre-existing conditions both for you and any relatives at home. In most cases a travel insurance policy won't provide cover if you fly home early because a relative was being treated for a pre-existing condition and dies as a result of that condition. In many policies, a pre-existing medical condition is regarded as any condition for which you have been to see a doctor or taken medication in the previous month before you buy travel insurance. Some policies may not provide cover if the relative is over a certain age. Travelling companions (eg not a family member) are normally covered for breaking their trip if you get sick or vice versa but again you must declare if your companion has a pre-existing illness at the time of taking out the policy. Disinclination to travel is not covered.

Duty Free

• Duty free or other goods bought overseas are covered subject to policy limits, but you must have receipts as proof of purchase.

Medical

• If you become ill or are injured, contact your travel assistance provider and collect all the medical and other related documentation required for your claim. Make sure you get a signed statement from the Registrar of the hospital where you were treated.

• For the USA, Japan and Europe, make sure you have unlimited cover for hospital and medical costs - $500,000 is not uncommon for medical expenses in the United States. Australia does have reciprocal rights with some countries for Medicare-type cover (eg UK). A brochure which lists these countries is usually available at airports or through travel agents. PLEASE NOTE: Beds may not be available in a public hospital and you may still end up being treated and charged as a private patient.

• Most quality policies include full medical evacuation. However, don't assume anything until you have checked with your insurer or agent. Don't book a first class seat so you can stretch out your broken leg before checking with your assistance provider.

Safety

• With regard to cancellations due to safety concerns or decisions to boycott countries (eg the Middle East in light of recent events), travel insurers rely on warnings and bulletins issued by the Department of Foreign Affairs and Trade. If you are concerned, or just decide to cancel your trip in the absence of an official warning against travel, your insurance may not cover the cancellation.

Travel Insurance related to age:

• Travel insurance is moving more toward 'preferred risk-rating' rather than 'community-rated' ie due to the ageing population it is becoming increasingly difficult for the young, fit and healthy to support the growing higher risk area associated with older people. In some cases, this may impact on someone who is considered a high risk when attempting to obtain travel insurance.

• The assessment of travel cover is based on four main factors:
  
  

  • Age
  • Destination (eg it is much easier to obtain insurance when travelling to New Zealand than countries such as the USA). A rough guide is that whatever you pay in Australia for treatment in a private hospital situation could be multiplied 10-15 times for basic hospital treatment in the United States.
  • Length of stay overseas
  • Any pre-existing conditions

• Age may impact on the availability of travel insurance from about 65 years upward but it also depends on:
  
  

  • the premium that the traveller is willing to pay (there may be access to insurance for some areas at a higher premium),
  • the country they intend to travel to (USA and Canada is much more difficult to obtain cover because of high medical costs),
  • the time they intend to spend away, and
  • any pre-existing ailments.

Travel, like other insurance is highly competitive, so if you are not happy with the terms and conditions offered by a policy, shop around.

source:Insurance Council of Australia

5 Tips For Saving Money On Your Car Insurance

source:SEIA

Car insurance for many people is a necessary evil. The long road to achieving a Rating 1 insurance rating is fraught with danger. Rating 1 means you are paying the least amount of insurance possible. Before you achieve that rating there are steps you can take to help you reduce your on-road costs. Here are tips to save money on your car insurance.

Be a woman, be older or be both

It’s a fact women are less likely to be in car accidents than men. Young drivers are also more likely to be in car accidents than older drivers. The effect is exaggerated further as young men are penalized much more than older women. If the primary insurance holder is a older woman then the insurance premiums are likely to be lower. If the primary insurance holder is a young man then the insurance premiums are probably at the highest level they can possibly be.

Be a better driver, take advanced driving courses

Take a recognised defensive driving course after getting your licence. This is a good step to getting cheap car insurance. These courses teach advanced driving technique, planning and control. These are characteristics that auto insurance companies see as weaknesses in novice drivers or drivers in certain categories. It is particularly advised for males, under 25 years old, living in urban areas, holding an open licence for less than 2 years. This particular demographic is stung heavily by car insurance companies. This kind of course is highly advantageous to you in reducing your premiums and becoming a better driver

Increase your excess

You can lower your premiums by increasing your excess. The excess is the lump sum you pay in the event of an accident. If you are confident of your driving ability and are sure that you will not need to make an insurance claim then this is a good avenue to explore. Some car insurance companies have flexible excesses. As an example, if you increase you excess from $400 to $800 you premiums can be reduced significantly and by up to 50% in some cases.

Drive a less powerful car

There is no denying that powerful cars demand higher insurance costs. Is that desirable V8 car really necessary? Desirable, powerful cars are always the target of car thieves. Insurance companies factor that risk into your premium. That is why your premium is high. It does not matter if you are over 30 and have a clean record. The insurance company is not focusing on you but on the criminal in this instance.

Take out multiple insurance policies with the same provider

Most insurance companies in Australia run a loyalty scheme of some description. You can reduce significant amounts from your car insurance, if you also have home insurance, life insurance and travel insurance all with the same company. Your premiums for every insurance can be reduced by up to 20% and further if you qualify for no claims bonuses or other concessions. Let’s face it, you are paying less money, ultimately for more piece of mind.

5 Ways To Save On Home Insurance

source:SEIA

Home insurance is made up of buildings and contents insurance. Buildings insurance concerns itself with the outside of the property and contents the inside. As a person’s house is normally the biggest investment they will ever make, and the interior the longest term investment they ever make do you think it is wise to make cutbacks when the asset you are protecting is so valuable? It isn’t wise. That said we have identified five key ways to save on your home insurance.

Identify theft risk in your area

Some suburbs attract more crime than others. Some streets seem to attract crime more than others. This is why the suburb or even the street you live in can affect your home insurance premiums. If you are moving house then safety of you and your family is an aspect that should be of paramount importance to you. Do not think that living in a good postcode will necessarily help you. Some of the more expensive suburbs are targeted more as the residents have more perceived wealth. To lower theft risk, choose to live in a secure apartment block or a gated community. This will significantly reduce your premiums.

Increase your security

The amount of security you possess will directly affect your insurance premiums. Burglar alarms, home security patrols, deadbolt locks, key secured windows are all ways of mitigating risk in home insurance. Each of these elements individually will save you money. Increasing your security also ensures that potential thieves are scared away. Even better than having good insurance is preventing the crime from happening in the first place.

Select a higher excess

As with all other insurance types you can lower your premiums by selecting a higher excess to pay in the event of a claim. Your premiums can decrease by up to 50% if you select a higher excess. If you live in a relatively low crime area then you know that you may only need to pay that excess once in 10 years. That is a small price to pay to reduce your premiums for those 10 years.

Combine your building and contents insurance

As home insurance is made up of two different kinds of policy, it can be said that if you buy both policies together you will make a saving. It is critical you have both kinds of insurance as rain damage can affect you roof tiles, your ceilings, walls and all the contents of your property. It is common for home insurance claims to consist of building and contents claims together.

Keep your home insurance policy for as long as possible

All home insurance providers offer discounts and concessions the longer you keep a policy for. As home insurance companies are very competitive, you can use your long term policy as a bargaining tool when talking to other insurance vendors. If you stay with your insurance provider or move you still would have negotiated a better rate for yourself. This can save you a lot of money immediately and save you thousands over a number of years.

Animal & Pet Health Insurance Tips and Secrets

source:SEIA

Webmaster Comments: Burke has given us an extremely informative, very useful article on how to save money on pet health insurance quotes. The article also goes into detail on what to watch out for when insurance your pet's health and how pet health insurance can help for your peace of mind. Have a read and tell me what you think...

Protecting The Smallest Member Of Your Family: A Step-By-Step Guide To Pet Insurance

by: Burke Jones

Let’s face it – Fido and Fluffy are an important part of your family. Do you want to have to assign a dollar value to them if they become sick or injured?

That may well be the case if you don’t have pet health insurance. Rising veterinary costs mean that pet owners can pay hundreds – and even thousands – of dollars for their pets’ health problems. As the bills stack up, uninsured pet owners must determine how much they are willing to spend on their animal friend. It can be a heartbreaking decision to make.

Much like insurance for health, cars and homes, pet insurance helps people put a little money away now to avoid a major payout later. Coverage and cost vary, so it’s important to thoroughly research the options if you decide to insure your pet.

Step one: Determine if Pet Insurance is Right for You

When people decide to get a pet, they often don’t consider how they will deal with the inevitable unexpected illnesses or accidents. Keeping a pet indoors by no means eliminates all the hazards. They can still swallow foreign objects, ingest a poison or injure themselves. As well, living indoors does not make a pet immune to disease and infection – particularly those that are common to their breed. Pets with access to the outdoors have even more opportunities to pick up a disease or get hurt.

Don’t have a dog or cat? Insurance companies are starting to offer plans that meet the needs of a variety of pet owners. Some now offer coverage for birds and exotic animals.
Not all owners are good candidates for pet insurance, however. Pet insurance is ideal for owners who deeply love their pets and are willing to spend a significant amount of money to keep them healthy and extend their life. They buy their cherished companions the best food and care they can afford, sometimes even putting their pets’ needs before their own. For this type of owner, pet insurance can be a smart investment that can prevent considerable costs and bring peace of mind.

Pet insurance is not a good investment for owners who don’t have a strong emotional tie to their pet. Owners who would rather have their pets euthanized than spend money on vet bills are not good candidates for pet insurance.

Step two: Decide What Type of Coverage You Want

Most pet owners will weigh two main considerations when shopping for pet insurance: budget and coverage. Peace of mind can also be an important factor, but far more difficult to quantify.

Pet health insurance is still relatively new in the United States and Canada, so the options available are fewer than for other forms of insurance. That said, North American pet owners can choose from a variety of coverage choices, ranging from injury/accident-only to all-inclusive.

As with all insurance products, the cost of pet insurance increases as the coverage improves. As a pet owner, you must decide what is the right balance between affordability and the care you want for your pet.

- Coverage

When choosing pet insurance coverage, first consider what kind of insurance customer you are. Do you prefer all-inclusive coverage that pays for everything from routine checkups and vaccinations to accidents and chronic illnesses, or are you comfortable with a lesser degree of coverage that just kicks in during emergencies? Perhaps you prefer a flexible plan that offers discounts on a wide range of services, from veterinary care to training. This decision will lay the groundwork for your final choice.

Some issues to consider:


Make sure to check for coverage of pre-existing conditions as well as breed-specific genetic ailments, such as hip dysplasia for large dogs. Some plans refuse to cover these conditions.

Some plans place limits on annual, per-incident, per-illness or lifetime costs.

How old is your pet? Coverage usually starts at eight weeks, but some plans won’t cover pets over a certain age (usually between six and 10 years old, depending on the breed, type of animal and other factors).
- Cost

Payment options for pet insurance include flat fees or deductibles and/or co-payments. Not surprisingly, plans with lower monthly premiums come with higher deductibles and/or larger co-payments.

Some issues to consider:


Insurance premiums are affected by the age, health and breed of your pet, as well as the type of animal.

Some plans offers discounts for multiple pets.

Plans generally require customers to pay the vet bill first and then submit receipts for reimbursement.

Find out if the insurance premiums will increase as your pet ages.

Depending on the plan you choose, the monthly premiums can range from less than $10 to about $40.
Step three: Choose an Insurer

You’ve determined what you can afford to spend and the amount of pet insurance coverage you want.

Before selecting an insurer, here are some final considerations:


Make a list of your questions and priorities in advance. Make sure to answer or check off each item when reviewing plan options.

Research the insurer thoroughly. Review its website and sales materials, read its testimonials, talk to other pet owners and look for on-line reviews. How long has the company been in business? Are its customers satisfied? Make sure you feel comfortable about everything you hear or read.

Compare the plan’s benefit schedule with your vet’s fees to determine to what degree the plan will cover the actual treatment costs.

Find out how quickly the insurance company reimburses customers’ claim payments and if it has claim deadlines.

Read the fine print. Make sure you completely understand the plan’s benefits and, more importantly, the limitations. If something isn’t clear, ask – and get the answer in writing. Otherwise, you might find you don’t have the coverage you need if an accident occurs.

Start a file for your pet. Use it for all receipts and insurance paperwork so you can keep on top of your claims and make sure you are maximizing your insurance investment.
Your responsibility as a pet owner doesn't end with food, shelter and affection. Pet health insurance can give the smallest member of your family a longer and healthier life – and provide you with more time to enjoy the unconditional love it so willingly offers to you.

About The Author

Burke Jones is a frequent contributor to Pet Health Depo writing about Dog Insurance and Cat Medicine.

Connecticut General Health Insurance Premiums

source:SEIA

Webmaster Comments: Quite heavily opinionated article on how to save money on Connecticut general health insurance premiums. I think the ideas that Ryan shares in this article would be valid for the whole USA. Have a read for yourself and tell me what you think.

Are you tired of paying too much for health insurance premiums in Connecticut?

Only 5 or 6 years ago Connecticut general health insurance premiums seemed very affordable with fantastic coverage to match. Well, if you’re an individual
or family who pays for health insurance today chances are you’re
literally getting punched in the pocket book, and it hurts.
Health insurance has changed dramatically over the last five years and this article will no doubt arm you with the knowledge you need to get the most out of your next health insurance plan. First, an individual or family needs to identify with what they need out of a health plan. Notice I say need, because unless you make more money than you know what to do with there is no way in the world most people can afford the "Perfect" plan with all the bells and whistles.

Do you need a doctors office co pay?

Most people don’t realize this will save you up to 30%
with some companies by cutting this benefit out of your
health insurance plan. Doctors continually raise their fees
for visits and most of the time the consumer will go much faster
to the doctor if he or she has a $10 co pay as opposed to paying
the $50 the doctor may charge. Insurance companies pay millions
for these fees and trust me, after the first 12 months of your
plan being in effect you’re the one who will be paying by a
huge increase in your premium. I’ve seen insurance plans go up
79% after the first twelve months. Totally ridiculous.
The consumers cannot afford this.

Another huge problem which I’ll go more in depth
in another article is prescription drug cards.
I really can’t see where the consumer wins here either.
Don’t get me wrong, if you’re on an employer sponsored
group health insurance plan your probably getting a good deal
but I can assure you that your company is paying out the nose
for the coverage you’ve come to love. I talk to people weekly
who literally work for their Connecticut general health insurance coverage.
If you can do without a prescription drug plan I would.
It can generally save you 20 to 40% off your premium by
not having this benefit.

Consumers usually pay 500 to 700 dollars a year
for this benefit alone while the average family who can
qualify for individual or family medical plans in Connecticut don’t spend near
this amount of money. And, once again when you finally use your
card the insurance company will generally offset the cost at
your renewal date by raising your general health insurance premium.
Cut out these things and go with a deductible of $1,000 or higher
and you will definitely save yourself money both in the short
and long term. Most of us can pay for the occasional doctor visit
and prescription rather than giving our money up front to the
Insurance Company. Just a little food for thought.


About the Author

Ryan Orrell has been a specialist in the field of
health insurance since 1996 counseling hundreds of individuals
and families on policies which may be right for them.
Ryan is president of Quote Monster,
an online shopping service designed to help individuals
and families find affordable health insurance plans.
This article is also posted on the Web at
http://www.quotemonster.com/health-insurance-article-1.html

Home Owner Appliance Insurance Information

source:SEIA

Webmaster Comments: This article has some information on home owneer appliance insurance. It also covers the reason why homeowners insurance is sometimes mandatory, depending on your financial circumstances and how you have purchased your house. Let me know what you think.

Homeowners’ Insurance - The Mortgage Connection
by: Lance Williams

A home owners’ insurance policy is the cover for the house against natural calamities as well as liability. This covers the house and its contents but also other personal possessions which the house secures. The natural calamities can include fires and winds. It covers thefts and vandalism as well. It is also called hazard insurance (http://www.mortgagefit.com/hazard-insurance.html)
It is not mandatory, like in the case of automobile insurance to have a homeowners’ insurance policy. But when one mortgages, the deed of trust or mortgage requires the collateral to be insured. This is because in the event of a default, the lender must not suffer. If in the time span the house gets damaged due to a wind or accident, the value on sale will decrease and thus the lender will not be able to get back the debt balance.

Why does the lender insist on a homeowner’s insurance?

Firstly, the lenders’ name or the mortgage company appears on the certificate of the insurance policy. The lender is categorized as a ‘loss payee’ or a mortgagee. This ensures that the lender is entitled to the insurance amount if the borrower defaults.

Secondly, the insurance premiums are paid little by little along with the monthly obligations or it is deposited in with impound or escrow account. In both cases the lender can earn the interest which is earned out of this amount. Moreover an escrow requires an amount much more than a single premium to fund the account.

The manner of payment of the insurance premiums differs from lender to lender. Some require that the insurance premiums be paid off in the first year after closing; while others will spread the same throughout the loan term.

What you should keep in mind before taking a homeowners’ insurance?

You should shop for an insurance agent extensively .You must go in for an insurance company which will make an honest evaluation of your home value.

This insurance is not only for a liability security it is important to the borrower as well especially if you aim for a refinance or a remortgage. The collateral remains the same .Thus you can still avail of a loan amount equal to the earlier mortgage amount if not more (due to appreciation).

For a detailed study of mortgage and such other terms you can log onto:
Mortgage Fit

About The Author

Lance Wiliams is an accomplished contributing writer presently working in association with http://www.mortgagefit.com. He specialises in mortgage and real estate arena.

New Car Cheap Insurance - Where and what?

source:SEIA

Webmaster Comments: If you're looking for new car cheap insurance then you need to know exactly what goes into a car insurance policy and what doesn't or may not need to. This article by Jon gives some good advice on the different factors that affect your premium for your new car and which will help you in getting cheap insurance.

Factors That Affect Your Car Insurance Premium

By Jon Register

Many factors affect the premium you will pay for auto insurance. Each is a statistically based risk for a specific population. The higher the risk associated with a person, the more he or she is likely to pay for coverage. We have elaborated on some of the risk factors below, but there are numerous others, including driver's gender, miles driven per year, purpose for using the vehicle (commuting to work, using for work, leisure only), etc.

Factors you CANNOT easily change that affect your car insurance rates:

Age
Statistically, drivers under the age of 25 are at greater risk of being in an accident than those over age 25. Drivers between the ages of 50 and 65 generally have the safest records.

Gender
Women are statistically safer drivers.

Marital Status
A married person will pay less than a single person with an identical driving record. Factors you CAN change that affect your car insurance rates

Geography
Where you live makes a difference. Folks living in areas with little or no traffic are likely to spend less on insurance than those living in congested cities or suburbs because areas with a lot of traffic tend to see more accidents. Some neighborhoods also have a higher rate of vehicle thefts, which can result in a higher premium.

Driving Violations
Having an accident or moving violations on your record (speeding tickets, DWI, reckless driving, etc.) put you at a higher risk for accidents and will likely mean a higher premium. Some insurance companies will penalize you for your record for as many as five years from when the incident occurred. However, keep in mind, as your record improves, your premium will get lower.

Vehicle Type
El cheapo car will cost less to insure than that status symbol SUV sitting on 24" rims baby.

Accident Claims
A driving record that is clean and free of accidents will hold fare better for you than lots of tickets and/or accidents.

Credit Rating
Many insurance companies view having a poor, or even no credit history as suggestive of higher risk and thus, charge you a higher premium.

Occupation
Insurers have statistically found a correlation between your occupation and risk. For instance, a newspaper delivery person is most likely a higher risk than the personal banker sitting at their desk all day.

Other factors that help determine premiums:

. Driving distance to work
. Miles driven each year
. Years of driving experience
. Business use of the vehicle
. Whether or not you currently have auto insurance
. Theft protection devices (often results in discounts)
. Multiple cars and drivers (another opportunity for discounts)

What can I do right now to make sure I have the lowest premium?

Shop around and compare quotes from different insurers. They base their premiums on their claims experiences, which naturally differ. One company may see your area as a higher risk than others may. Another may charge more because of your occupation. Shopping at http://www.carinsurance.com makes it easier because you can quickly see multiple companies and their rates for your particular situation. Where do I go for quotes?

One stop can take care of it all. Go to www.carinsurance.com where you can receive multiple quotes, pick the best price, and then purchase. Get covered immediately on-line or over the phone. It REALLY is the easiest way to purchase car insurance.

Visit http://www.carinsurance.com for your low premium quote.

Jon Register is a representative of CarInsurance.com. You can visit CarInsurance.com at http://www.carinsurance.com or contact them at 1-877-327-8728.

CarInsurance.com's online insurance marketplace gives an opportunity to consumers and to insurance companies. We offer the ability to shop for car insurance online.

Consumers can receive quotes from many insurance companies, in some states you are able to purchase your insurance instantly, online. You don't have to drive your car to buy car insurance. Buy online...anytime!

Online Cheapest Car Insurance - How to Find it

source:SEIA

Webmaster Comments: It can be hard to find the online cheapest car insurance and sometimes you might even discover that its not online at all! Here are a few tips and tricks from John to help you find the cheapest car insurance.

Cheap Car Insurance

By John Jonas

Finding good car insurance can be very difficult. Here are a few tips:

Try a few different insurance companies.

Companies are different. So are their prices. You may find that one company wants to charge you $1000/month for insurance and another will only charge you $400/month. You might be one of the lucky ones who only gets charged $30/month. Regardless of who you are, call multiple carriers even if the first quote you get appears to be low. You may find another company with a lower rate for you.

Talk to friends and family.

Other people are just like you, they want cheap insurance too. Chances are, you know someone who has already called all over the place and can give you some good pointers on which car insurance companies were the cheapest for them. Remember, nobody likes to spend money on auto insurance.

Use the internet.
The internet is a great place to find auto insurance. You can find out information about insurance companies, compare rates, get quotes, and shop around without leaving your house. There are also websites out there like 1carinsurance.org who have organized insurance company data and user data and will tell you which companies people are having success with in finding the best car insurance for them.

Get auto insurance quotes.

Don't just trust them. Get a quote. They're free (or, if the quote isn't free you know you don't want to use that company). If you can get quotes from 6 or 7 different companies, you then have hard data to compare the companies against each other. You're also pretty sure you're going to get the lowest rate.

Try local companies.

Often times people only think about the big auto insurance companies like Geico or Progressive. They don't even look around their local communities for auto insurance companies that might exist. Often local companies can offer cheaper rates because they don't have the large bureaucracy that larger companies have.

Just remember to shop around as you look for cheaper car insurance. The first company isn't always the best.

John Jonas is an entepreneur and a family man with interests in real estate, marketing, and financial products. You can find out more info at John Jonas Blog.

Professional Liability Insurance for Business

source:SEIA

Webmaster Comments: Article is themed towards Professional liability insurance for business however it centers mostly around the medial industry and the state of play on professional liability insurance and people being sued! Have a read and tell me what you think.

Importance of Professional Liability and Malpractice Insurance!

by: Danni R., CMA, CCMA, CMAA, FLWD

Contrary to popular belief you don't have to cause severe injury to a patient to face a serious law suit as a consequence of your actions or failure to act. As "little" as not following standards of care, indifference (as "little" as failing to recognize a need for help), or abandonment (as "little" as failing to return a phone call) can be reason enough to be held liable in court should any damages occur as a result.

Even though medical assistants are dependent practitioners who work under the supervision of the physician and the physician is responsible for their actions, it does not exonerate them from risk of individual liability.

It Is Not True That Medical Assistants Are Not Being Sued!

Each health care provider, practitioner, and allied health professional, including the medical assistant is responsible for his or her own negligent acts, since malpractice is defined as "the negligent act of a person with specialized training and education."

Medical malpractice is a very serious offense because of the breach of trust in the patient/doctor relationship and its severe consequences to the victim's life. Doctors, nurses, paramedical, and allied health care professionals are expected to do everything they can to restore health and promote healing, not to cause harm!

Unfortunately, mistakes, oversights, accidents, slips, mix-ups, errors, or irresponsible acts do happen. They usually occur when least expected and some of these unfortunate events may cause harm to the patient! When serious "slip-ups" happen, they have profound effects on people's lives. Malpractice events place unexpected hardship on families who suddenly find themselves overwhelmed with emotional and financial burdens. Some consequences of a mistake my be temporary, but some victims may be permanently affected by their injuries. Some may have long-term medical expenses, some may never be able to return to their jobs; yet others may not survive. Nothing is more difficult and painful than losing a loved one, and when the death resulted from someone else's negligence the family's devastation over the loss is doubled.

As more patients, their friends and malpractice lawyers become aware of the role of the medical assistant, they also see a potential malpractice target if they believe they have received a poor standard of care. Injured patients, either on their own, or encouraged by family members, friends, or their attorneys, wind up taking their cases to the courts.

Situations involving injuries or damages that generations ago would have been ignored by the injured person are now regularly the basis for lawsuits. Liability has become a major risk not only for the physician but also for allied health care professionals working under their direct supervision, such as the medical assistant. As in any legal proceedings, when a medical malpractice law suit is filed as many people as possible will be named.

The Law on Tort or Negligence:

Tort or negligence law imposes a minimum level of due care on all persons in their interactions with others, including people who choose to volunteer. Negligence is generally considered failure to act with the prudence that a reasonable person would exercise under the same circumstances

Respondeat superior is a legal term that stands for "let the master answer". It is a long established doctrine that applies when a master acts through the servant to accomplish the master's task. What this is referring to is the fact that, under specific circumstances, an employer (or master) is legally liable for the actions of his or her employees (servants) while in the course of their employment. The actions of the servant are imputed to the master.

Example:

If the servant is the medical assistant, and he/she acts negligently carrying out his/her in the medical office, he/she is directly responsible for the negligence, while the master, who would be the doctor, is vicariously liable for the servant's actions.

Requirements For A Successful Suit In Negligence Include:

Negligence in a medical office is a failure in a doctor's, nurse's, paramedical, and other allied health care professional's duty to patients and it implies a standard of conduct!

Duty requiring a person to conform to a standard of conduct that protects others from unreasonable risk of harm

Breach of that duty (i.e., the person's failure to conform to the standard of conduct)

Causal connection between the breach of the duty and the resulting injury

Resulting injury or damage which results in measurable physical, emotional or economic harm

Malpractice Insurance -- Not Such a Bad Idea!

One of the most important employment benefits is good malpractice and professional liability insurance. Every medical assistant should be encouraged to make sure they have adequate insurance coverage when working in a medical office, walk in clinic, or any other treatment facility.

However, it is not enough to accept insurance under the employer’s policy as a rider and assume this is adequate protection in case of a lawsuit. Medical assistants should insist on their own personal policy, either through their employer or on their own!

Having Malpractice and Liability Insurance Means:

The reason for having a working malpractice and professional liability insurance policy is simple: protection and peace of mind! Regardless whether a medical assistant is covered under the employer’s policy, he or she may still be liable for his or her own negligence and may be responsible for all or part of a plaintiff’s award or settlement. In some cases the employee (the medical assistant) may have to compensate the employer (the doctor) who has paid damages to the claimant.

A medical assistant can either assume that liability, that is paying damages awarded to the claimant in case of a lawsuit him or herself, or buy an insurance policy to transfer that risk. Insurance companies accept the transfer of risk in exchange for the payment of premiums.

Therefore, whether as a student on externship, or as a professional working under a physician, medical assistants should get their own malpractice and professional liability insurance policy! It is really worth the cost and effort; and actually, considering the consequences of a successful lawsuit by an injured patient, malpractice insurance really doesn't cost that much at all!

Analyzing Your Employer’s Policy:

How much you pay for your insurance premium depends on your responsibilities, the location of your practice setting and the limits of liability you choose. If your employer insists that you are to be covered under their policy (rider) and you can't afford to purchase your own personal policy, ask the employer for a copy of the certificate of insurance for your analysis. Here is a checklist of items to use when analyzing your employer’s policy:

Are you listed by name on your employer’s policy?

Are legal costs included in the limits of liability, or will they be paid in addition to policy limits?

If a malpractice claim is filed against you, will this professional liability policy pay legal fees and court costs in addition to your policy limit, even if you are not liable for the charges brought against you?

If you decide to change employers and are covered under a claims-made policy, will your former employer be responsible for paying the cost of the tail coverage?

Is this policy available in all 50 states?

If you answered NO to any of these questions, investigate purchasing your own individual policy through one of the many malpractice and professional liability programs available.

Last but not Least: Volunteer Work!

Should you ever decide you want to volunteer, or work at a part-time position, or even do private duty, since many medical assistants also function as home health aides or CNAs in additional to their full-time position, an individual policy covers you while on duty in both positions and under the various circumstances.

If you accept a position and then decide you want to take a position somewhere else, your individual coverage follows you to your new position, even if your previous employer paid the premiums for your coverage. However, realize that your previous employer may request reimbursement!

There even is a way to eliminate gaps in coverage by requesting prior acts coverage. This gives the insured retroactive coverage to cover those events that may have already occurred but have not yet been reported, in other words, it provides coverage for all acts that occurred before the policy was issued! Did you know that???

In Closing -- Remember This:

Protect yourself and your future and strive to function within the parameters of your state licensure laws!

Document, Document, Document!

Complete and careful record keeping is critical to protect the patient, the employer, and yourself. Each aspect of the medical encounter -- personal and family histories; allergies to medications, medications administered and prescribed, physical exam findings, imaging and lab test results, discussions with patients, including specific advice given, procedures performed during course of the visit -- should go in the patient record along with the date and initialed by the provider, nurse, or medical assistant.

About The Author

Danni R. is a certified medical assistant through the AAMA and NHA, and MA Instructor at well known vocational training institutions and online. Her background is a unique blend of healthcare sciences and freelance web design and graphic arts, which makes her the ideal author for medical assisting articles and web sites. It is this fusion of contrasting disciplines that makes her work so successful on the Internet! You may also visit her web sites at: Advanced Medical Assistant of America and at: Medical Assistant Net to get better acquainted with her work!

The 10 Secrets to Saving Money When You Get Insurance

source:SEIA

1. Increase Your Excess

This will give you the biggest saving for any kind of insurance you take out. The excess is the amount of money you pay to make a claim. By increasing this, the insurance company reduces your premium. This is good for you as it means you pay more for insurance when you actually need it. Over the course of 30 or 40 years there may be only a handful of times you need to make an insurance claim. Increasing the excess means you pay more for each claim but you have saved money on premiums over many, many years.

2. Take Out Multiple Policies

Most insurance companies offer different kinds of insurance; home insurance, car insurance, health insurance, travel insurance and any other kind you can think of.

If you take out more than one policy you can realise reductions of up to 40% on your premiums. The principle behind this is that you are wholesaling your insurance needs to one company.

These reductions often apply if you are insuring multiple people under the same policy. Investigate what reductions can be made as the offers differ widely between providers. Some offer discounts if you have more than one policy, others offer more significant discount but you need 4 or 5 policies.

The other benefit to this is that if a significant incident occurs like a car crash that causes a fatality it is far easier for you to make a claim across all the policies, car, life, and health insurance in this case as one loss adjuster will be assigned to your case instead of 3 people from 3 different companies.

3. Start Young

Starting young in insurance will save you thousands of dollars. In terms of life insurance and health insurance you are considered a low risk to the insurer. This means your premiums will be very low, equating to only a few cents per day. As you get older premiums increase. If you started young you will be able to qualify for concessions and discounts offered to people who have long-term policies. This will save you a lot of money.

Even if car insurance seems astronomically high when you are young, it pays to be insured early. If you are comprehensively insured from 18 years of age. You can be a Rating 1 driver by the time you are 25. Some insurers offer ‘Rating 1 for life’. By the time you are 30 you will easily qualify for that if you keep clean. That means regardless of the number of accidents or difficulties you have you will always qualify for the lowest price insurance. Over your driving life this will save you tens of thousands of dollars.

4. Recognise What You Need

Recognising how you live, and what you do, can save you plenty of money on your insurance. Just settling for standard cover when you need something far different is a waste of money. Primarily because when it comes the time to make a claim you will get far less than you expected and in some cases nothing.

If you travel extensively throughout the year then get annual multi-trip insurance. It would be far cheaper and give you better cover than numerous one-off insurances. If you spend a lot of time visiting clients as part of your business, you may want to consider public liability insurance that covers your visits. If you have a large outdoor entertaining area to your house you need a home insurance policy that covers that area too.

When you take out your insurance policies you should try and be as specific as you can as their may be concessions available that suit you. This could either save you money or give you more comprehensive cover.

5. Pay Your Insurance Annually

With many insurance companies you have the option pay your premiums monthly or annually. If you pay monthly you do have the ability to manage your money better in relation to your income but if you pay annually your premium is lower. Sometimes the difference can be up to 10%. For many the convenience of paying monthly outweighs the saving but over many years you could have saved thousands of dollars.

In other countries like the UK where insurance is very competitive, monthly and annual premiums add up to the same amount. In Australia, you are penalised for taking the monthly option.

6. Utilise The Extras That Are Available.

With many insurance policies available there are extras that add tremendous value. In many cases utilising these extras would pay for the annual premium. Extras that some insurance providers provide include courtesy cars, discounted document reproduction, discounted gym membership, sports massages, cheap cinema tickets, aromatherapy and much more.

With these extras you have a set allowance for each category each year. Using these benefits does not affect your premiums as the insurer has negotiated wholesale rates with the member service providers. Often they receive a commission for each extra you use so they encourage you to use your allowances as you feel as though you have received massive value.

Using these extras could save you an amount equivalent to your entire annual premium if not more.

7. Read Your Policy

It has been recorded that 90% of all people that sign legal documents have no idea what they have just signed for. They have some idea but they don’t know the finer points or the small print. Understanding the small print is crucial in insurance. The small print covers exemptions that you will not know existed and will cover reasons that an insurer can refuse to fulfil a claim.

If you have not read your policy and you regularly break terms that are covered in the policy you will be refused your claim when you make it. Because you didn’t read the policy is not an adequate excuse when arguing your case. If you cannot make a claim for this reason then the thousands of dollars you spent on premiums over the last few years would have been a complete waste.

8. Purchase items with insurance in mind

This sounds like a very boring and unrealistic way to save money on your insurance but it is an unconscious decision you make daily. When you buy an item you weigh up its running costs when considering to purchase it. Factor insurance into those running costs. You definitely consider insurance when you buy a car. You buy a less powerful car if you want cheaper insurance. The same is true for artworks and jewellery. If you cannot afford to insure the items then you cannot afford the items.

If you choose not to insure these sorts of purchases you could lose hundreds, if not thousands, of dollars. You cannot predict storm damage, or fire damage or theft. That is why insurance exists. To protect you when you are least expecting it. You will save money on insurance by purchasing items that fit your insurance budget.

9. Pay for your insurance with your superannuation

Most Australians don’t even know you can do this. Superannuation is locked away until retirement and to many it just sits there doing nothing until retirement. Even if it is just sitting there you can use it to pay for insurance. This is much easier to administer if you have a Self Managed Superannuation Fund or have engaged in the services of an insurance broker.

Even through your employer’s super you are able to pay for life insurance at the very least. That is one less insurance policy you will have to pay for with your disposable income. This can save you hundreds of dollars from your disposable income and also you yourself are not relied upon to make the payment. They are debited directly by the super company. That also gives you piece of mind.

10. Use an insurance broker

The thought of an insurance broker is expensive, however, the truth is the opposite. They can save you a lot of time and a lot of money. There are more than 5,000 registered insurance products in the Australian marketplace. Do you have the time or the inclination to find the right insurance product for you? As insurance brokers are trained financial professionals they understand the finer details of all the insurance plans. They understand the policies, the companies that hold the policies, the claim schedule and the amount of time it takes to fulfil a claim.

You do want to make a successful claim after years of paying premiums? Insurance brokers know the claim process backwards and it would be wise to utilize such services if they are available. On average a claim pursued by an insurance broker is realized 40% quicker than a normal retail claim.

Can you get insurance cheaper by not going through a broker? Insurance brokers can commit hundreds of insurance policies per year to a certain provider. Because of this they can negotiate massive discounts because of wholesale rates.

An insurance broker can save you a ton of money and can make sure you get the money you deserve when the time comes to make a claim.

Travel Insurance

source:SEIA

Travel Insurance is the insurance that most people overlook. It seems like a waste of money to many but the premiums for travel insurance are low and you need piece of mind if your bags are lost, your flights are delayed or cancelled or if you are injured whilst abroad. Over 20,000 cases involving Australians in difficulty overseas occur each year. These difficulties often lead to a long-term financial burden if the trip is not properly covered.
Travel insurance varies widely as some travel insurance is very basic whereas other policies cover adventure sports and travel to locations recognised as dangerous. To help you here are three secrets that will ensure you get the right travel insurance. Otherwise you might end up not being covered.

Recognise how you travel

This is vitally important. If you are travelling around the world for a year, you will need to demonstrate this to your insurance provider. Your perceived risk increases the longer you travel and the more countries you travel. As an example, if you are going on holiday for a week to another country the chances of you making a claim are far smaller than if you are visiting 10 countries over the course of the year. The more detailed you are in your travel plan the better the cover you can receive. Purchase a multi-trip insurance policy which will save you money.

Make sure your activities are covered

If you are travelling to a location designated as dangerous or on a government watch-list make sure that your travel insurance provider knows this and can cover you. If they don’t you may not be covered as you are deemed to have deliberately caused a problem situation for yourself. This is also the case for dangerous sports. Most standard travel insurance won’t cover skiing accidents let alone parachute jumps and bungee jumps. Naturally, danger cover comes at a cost, however the cost is miniscule compared to the amounts you would have to cover yourself. Medical costs abroad can be very expensive with hospitalisation in the USA costing an average of $100,000 for a stranded tourist but can be much more.

Make sure you get enough luggage cover

Most airlines on give you enough luggage cover to pay for the bag lost. Anything inside it will be lost. If you get standard travel insurance your luggage cover may be limited. If you have a laptop it may not be covered as there may be a computer hardware limit. If you have an expensive music player that may not be covered either. Extend your travel insurance to fully cover your luggage in the event of loss. Also, recognise that if you are on a business trip and you lose a fair amount of business items your standard travel insurance will not cover it and you would have needed business insurance that covers extensive travelling.

Those are three secrets that the insurance companies seem to fail to tell you about when you need insurance. You want to be able to make a valid claim if occasion arises. With accidents or illness often unavoidable, proper travel insurance is very important. 'if you can't afford travel insurance, you can't afford to travel

The 3 Tricks To Saving Money On Public Liability Insurance

source:SEIA

In an increasingly litigious society, public liability insurance has become very important for business, charities or event organisers. As the liabilities are potentially very large, even against one person let alone thousands of people visiting your premises, premiums for public liability insurance can be astronomical. Some industries even find it very difficult to find insurance at all like construction and nightclubs. Once you have managed to find insurance there are ways to reduce your cost from the original price quoted. Here we have discovered 3 tricks that will ensure you will not overspend on public liability insurance.

Immediately increase your excess

Often, public liability insurance is a requirement to work in your industry, for instance, banking, finance, money lending. In these industries premiums are high but the chances of ever needing to use your insurance are minimal. This is because of the number of risk mitigants that need to be put in place before you can even go into business.

One of these layers of protection will be to keep the excess fee in its entirety and in trust. This may seem like you are spending money, not saving money but you do not part with that excess until a claim is made and you will save so much money on your premiums that within a year a massive saving is made in total.

The chances you will ever need to use your insurance is slim. Increase your excess to the highest you can make it. In some cases by raising the excess can save you hundreds of thousands of dollars.

Apply through an association

Join an industry association or even your local chamber of commerce. These organizations have numerous member benefits that include reduced insurance premiums. This has occurred as national associations or bodies are able to negotiate wholesale rates with insurers due to the number of members they have.

This means you get the best rate available for public liability insurance. These rates can be up to 30% lower than making a retail application. A 30% reduction in premiums represents a massive saving in relation to public liability insurance and ultimately costs your business will have to bear.

Limit your client exposure

Public liability insurance covers you for any incident that occurs with a member of the public. By limiting the amount of exposure your business has to clients then your premiums will be greatly reduced.

The larger your office space, the larger your shop floor, the more staff you have, the more clients you have, the larger your premiums will be. You don’t want to go out of business but there are steps you can take. If you move to smaller premises, or decide to move your business online then you immediately limit your client risk. This will immediately drop your public liability insurance premiums.

Naturally, if you want to organize a music festival you will have to bear the associated cost of insuring the people who attend. If you can limit your client risk, in any way, you will save a lot of money.

The Secrets To Getting The Best Life Insurance

source:SEIA

To many, life insurance seems stupid. Why pay for something you will never see. With many life insurance policies the only benefit received is a lump sum payout on death. It is understandable why many people take that viewpoint. The very best life insurance policies though give you and your family piece of mind, give you benefits while you are still alive and can be essentially free. Here are some secrets that you should know about so you can get the very best life insurance.

Pay for it with your super

In Australia , 9% of your income automatically goes to your superannuation. This fund cannot be spent until you retire but it can be used to prepare for your retirement. The money can be invested or used for insurance.

Use the 9% you cannot touch to pay for your life insurance. As life insurance premiums are small it will not impact your final return greatly. If you wish you can use your disposable income to pay for your life insurance but why. You may as well use money that doesn’t contribute to your daily income. This way your life insurance is essentially free.

Make sure it covers additional costs

The main problem with life insurance lump sum payouts is that all costs associated with death are deducted from this lump sum. This ultimately erodes any return your beneficiary will receive. The very best life insurance policies have allowances for funeral costs or body transportation or any other cost associated with death. Some policies even cover solicitor’s fees for executing your will. Some of the better life insurance policies will have an extensive list of extras that could be worth thousands of dollars. This will ensure that you give your beneficiary the full lump sum amount you had intended.

Start young

Insurance premiums are based on risk. What are the chances of a 20 year, white collar male of dying before a 55 year old, blue collar male? Low. This is why when you start contributing to your life insurance when you are young the premiums are very low.

This will also help you in the long run as most life insurance companies have rewards for long term policy holders. If you start at 20 years old you only pay a very small premium. Your premium will be higher at 30 but if you started your policy when you were 20 you will receive a further discount of anything up to 25% which will reduce your premiums to the amount you were originally paying.

Pre-death payouts

Many life insurance policies only pay out once and that is after you die. The better life insurance policies also offer Total Permanent Disability cover so if you are diagnosed with a terminal illness or become permanently disabled you are entitled to your life insurance payout. Some policies will even cover ongoing costs for a year before they issue a payout. The financial burden of disabled care can be extraordinary so this kind of benefit can be worth hundreds of thousands of dollars.

Why Insurance Is Important

source:SEIA

When you visit an insurance broker they ask you the hard questions. The ones you know about but care not to answer. When the questions are asked can you, in all seriousness, say that insurance is not important?

If you were to die could your family or dependants, pay for your funeral, organize the financial affairs, service pre-existing debt and continue their current standard of living without you? This is why life insurance is important.

If you were to be seriously injured could you pay for your hospital costs, ongoing treatment, time off work, pay the living costs for you and your family until you are fully recovered, if you are fully recovered?. This is why Total Permanent Disability insurance is important.

If you are injured and are unable to continue working are you able to service your debtors and maintain any standard of living? This is why you need income protection insurance.

If you were to be in a car accident with two other cars and it was determined that the accident was your fault, could you go to a car showroom and buy yourself a new car, pay for repair or replacement of the other two cars and pay for the medical bills of the other drivers and their passengers? This is why motor insurance is important.

If you are ill and need immediate treatment at a hospital but the wait is massive as the public health system is suffering lengthy delays and you deteriorate to the point that treatment is very costly. This is why health insurance is important.

If your home is broken into and your possessions are stolen, can you replace all the items taken and pay for all the damage to the property caused by the burglars? This is why home and contents insurance is important.

If you are running a business and someone is injured on your premises by falling over a step or is injured during a robbery, can you cover the cost of their medical treatment and any impending court costs and rulings? This is why public liability insurance is important.

If your business fails to meet a loan payment due to a cashflow problem can you afford to pay the default fees, or find money to pay for other leasing contracts, staff, utility payments and rent? This is why business expense insurance is important.

Insurance is generally low cost and the cost to cover all the above scenarios with insurance is far, far lower than trying to service them if they arise. Just one situation not going your way can far outweigh the cost of insurance. Are you willing to bet a 100% record? At some point you will need to call upon some kind of insurance. The law of averages mean at some point you will get ill, or you will get burgled or your flight will lose your luggage or your car will crash, and you definitely will die. Your expected 100% level looks far-fetched now. Insurance is not just important it is necessary. Unless you are independently wealthy or have strong consistent income streams you cannot meet the level of expenditure expected if you are sacrificing insurance. Even then you are wasting money unnecessarily.