Benefits of providing medical insurance to the poor is undeniable

Posted by Sara Steel at November 22, 2011
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In the wake of the announcement yesterday by some states that they are cutting payments to Medicaid, a landmark study out today settles the question once and for all: do poor people fare better when given health insurance? The resounding answer is yes.

When poor people are given medical insurance, they feel better, see their doctor more regularly, and maintain more financial stability, a study by the National Bureau of Economic Research confirms. They are also presumably healthier, making use of diagnostic and preventative services provided by their health care team. Should we be surprised at these outcomes?

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Post Tags: Poor Poor Undeniable

The Loss in Progress Doctrine: Deconstructing the All-risk Policy

Posted by Ethan Kinnear at November 13, 2011
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Closely related to the fortuity doctrine, are the doctrines of known loss or loss in progress. Known loss is fairly simple and can often lead to allegations of fraud by the insured. If an insured knows of a loss and then procures insurance to cover it by concealing material information from the insurance company, the insurance company likely can raise the defense of fraud stemming from the insured’s concealment.

The loss in progress doctrine essentially stands for the premise that losses which have already commenced, but are not necessarily known, prior to the effective date of the insurance policy will not be covered under all-risk policies. W

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Post Tags: Doctrine Doctrine Deconstructing

Insurance coverage even if you make a mistake

Posted by Sara Steel at November 12, 2011
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The older you get, the trickier it may become to buy emergency medical insurance for travel. It’s not just the cost that keeps going up. So does the risk a claim will be denied.

You may have more medical conditions to remember and disclose when applying for coverage. You may be disqualified for coverage because your doctor has increased or reduced a prescription, or because of signs that a medical condition has become unstable.

But Ottawa-area insurance broker Bruce Cappon points to one travel medical policy from Travel Underwriters of Richmond, B.C., that will limit the risk of collecting nothing. Q

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Post Tags: Insurance Insurance Coverage

Reasons to Own Permanent Life Insurance – Part 2

Posted by Lola Benny at November 08, 2011
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As I mentioned in Part 1 of this subject, while term life insurance is a great option for many people and purposes, there are situations for which permanent life insurance might make more sense.  To continue the list:

  • To Provide Liquidity to Pay Estate Taxes:  This is one of the reasons we see most frequently.  People with large estates may be subject to estate taxes at death.  Life insurance owned by an Irrevocable Life Insurance Trust (ILIT) can escape estate taxation and provide the liquidity needed to pay those taxes.
  • To Provide for Business Continuation:  Permanent life insurance can be a better solutions than term life insurance for funding a business continuation plan.  It insures the policy will be in force regardless of how long the business owner stays active in the business.
  • To Maximize a Pension:  A retiree may elect to take the highest (life) payout option on his/her pension, while still protecting the surviving spouse.  Permanent life insurance is a great way to accomplish this.
  • To Provide Creditor Protection:  Some states protect policy cash values from the claims of creditors.
  • To Provide for Executive Benefits:  If structured properly, policy cash values can be used to fund deferred compensation retirement benefits paid to executives.  Death benefits can be used as cost recovery mechanisms for the company.

We will continue this list in our next post.  In the meantime, feel free to look at permanent life insurance quotes or term life insurance quotes.

Post Tags: Life Insurance Part Permanent Life Permanent Life Insurance

Term Life Insurance Funds Unclaimed In New York

Posted by Lola Benny at November 03, 2011
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Recent data shows that there could be millions of dollars in withheld life insurance benefits that have not been disbursed properly according to the article NY Officials to Investigate Unpaid Life Insurance found on the Wall Street Journal.  When a policy holder passes away, their term life insurance pays out to a beneficiary.  This assume the beneficiary can be found.  Often times, beneficiaries listed on the policy are unaware they are owed money and the insurers dont always take the necessary steps to find the rightful owners of the funds.

New Yorks attorney general and comptroller have started investigating these unpaid funds in hopes the rightful owners can eventually be reached.  T

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Post Tags: Insurance Life Insurance

My dogs loves the vet and yours will too!

Posted by Sara Steel at November 03, 2011
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Throughout your pet’s life, you will make many trips to visit their veterinarian. Hopefully most of these visits will be for routine check ups, but unfortunately at one point or another, these visits may be due to illness or emergencies– this is when dog insurance will come in handy. When going to the vet, your pet may show signs of anxiety and stress. This may be magnified as a result of not feeling well or suffering from pain and discomfort. Proper socialization at the veterinary office is critical to help you pet feel comfortable and safe during visits. It

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Post Tags: Vet

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