Whether we are talking about health, life or car insurance, the market is full of offers and it is a matter of our individual preference to identify the ideal fit in service and financial terms. In this paper we will look specifically at health insurance plans and issues that each of us can face with, while choosing the health insurance package. The analysis of this research will be limited to and focus on the insurance plans Underinsured motorist coverage is similar to uninsured motorist coverage. However, this policy protects you in the event a motorist has insurance but your damages exceed the policy limits. For example, if a driver has the minimum insurance coverage required under Kentucky laws ($25,), but your total losses equal $50,, your underinsured Develop a research paper that will describe accepted actuarial costing techniques for life insurance, health insurance and annuity products. The primary focus of the work would be on products with longer-term guarantees. The research paper would also cover considerations in establishing assumptions and provide illustrative examples of how to
Research Paper on Life Insurance | blogger.com
Find out if your paper is original. Our plagiarism detection tool will check Wonder how much time you need to deliver your speech or presentation? Don't know how to format the bibliography page in your paper? Use this converter to calculate how many pages a certain number Create a strong thesis statement with our online tool to clearly express The conception of insurance is the spreading of risks for a few individuals, among many.
This is done when individuals and businesses pay a premium to an insurance company to cover them in case of a catastrophic occurrence.
In other words, we all pay premiums in case something happens to one of us. Believe it or not, this simple concept is what drives the existence of all insurance companies.
As much as we all complain about insurance, we all have it. The insurance industry would have us believe that underwriting and rating insurance policies is a complicated procedure. However, when you break it down to its simplest form, insurance is just like any other business. In other words, how much is it going to cost to underwrite, issue, and service a policy and how much does the insurance company expect to pay in claims?
If the insurance companies can no longer count on high incomes from their investments, research paper on insurance, their profits have to come from another source.
Us, research paper on insurance, the customers. The disturbing point Lord Levene eludes to is that he advocates pursuing an underwriting profit even when investment returns are high. This is disturbing because in the past as the investment markets changed and higher returns were being earned.
The insurance customer shared in these returns in the form of lower premiums and easier underwriting. To make things even more difficult, if this business had suffered any claims, they are at greater risk of having their coverage cancelled. At that point, this company would be forced to find a new insurance carrier.
This is where things could begin to spiral out of control. The customer now has a decision to make. Accept the higher premium and absorb the cost or pass this cost to their own customers in the form of a price increase. According to my father, the reason is that the insurance companies feel that due to research paper on insurance age and lack of driving experience, I am more likely to have an accident.
This likelihood comes back to me in the form of higher rates. While I may never have that accident, other members of my age group have in the past been in more accidents than any other age group.
Statistically, that makes me a less desirable risk than someone in another group. Another factor is geography. Where you live has as much to do with your rates as what group you belong to and what your claims history is. This seems extremely unfair to me. Why should where I live have any bearing on my rates? The answer apparently has to do with the same logic that makes younger drivers pay more than more experienced drivers.
It seems that insurance companies not only group drivers by age but by other factors, such as population density how many more cars are there in a given geographical area?
Eastern Suffolk County? The companies also take in to account moving violations. Statistically speaking again, a driver with multiple traffic violations is an accident waiting to happen. Add to that, the logic that someone who makes a habit of passing stop signs or red lights is individually increasing the probability that they will be involved in some type of loss.
People who drive fast not only have the increased probability of loss but also because of the speed, increase the probability of a more severe loss, research paper on insurance. Thereby costing the insurance company, and all of us, that much more money. This research paper on insurance why insurance companies either refuse insurance or at the very least charge much more for drivers with violations on their records. While all of this barely scratches the surface of what insurance companies look at when determining their rates, it does give us a pretty good idea of what we can do to keep our rates as low as possible.
One thing would be to live in an area with less people and lower crime rates. For most of us, this is impossible. So what can we do without moving so far into the country that our nearest neighbors live five miles away? All I can say is research paper on insurance as unfair as insurance seems, ultimately the blame for higher rates rests with all of us.
If no one ever had an accident, all we would have to insure against would be fire and theft, research paper on insurance.
Since no one ever having an accident is not realistic, research paper on insurance, we can thank the powers that be for greed. If the insurance companies can find a way to make more money, you can bet they will do it. What I am trying to say is that when the investment markets are good, insurance companies make more money. You can always tell when an insurance company is doing well in the market.
Rate increases are few and far between and the company is writing more policies. When the market turns bad as it is now, research paper on insurance, insurance companies raise rates and reduce the number of new policies they sell. So I guess the answer to my question is not as easy as my first thought. I am not sure if I agree or disagree with the logic and statistics used by the insurance companies but I am sure of one thing. My rates are too high! You can also order a custom essay, term paper or research paper on insurance at our professional custom writing service which provides students with high-quality custom written papers.
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There are 6 essential types of life insurance: Five types of life insurance. Term life insurance. Whole life insurance. Universal life insurance. Variable life insurance. Variable universal life insurance Underinsured motorist coverage is similar to uninsured motorist coverage. However, this policy protects you in the event a motorist has insurance but your damages exceed the policy limits. For example, if a driver has the minimum insurance coverage required under Kentucky laws ($25,), but your total losses equal $50,, your underinsured This paper describes Nigerians attitudes towards the insurance institution. The attitudes, most often negative, are mirrored through low patronage of insurance services. It discusses such social-cultural factors that account for these attitudes and what role marketing strategies can
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