The Toll Men

Health Insurance seems like a simple exchange. You pay an insurance company a premium and insurance pays your bills. You get rid of risk and the insurance company takes your risk. However, there is more to it that this. What does the insurance company do with your risk? Do they keep it? Do they also get rid of it somehow? When you understand what the insurance company does with your risk, then you can better evaluate your options and perhaps get a better deal on health insurance.

One measure of risk is the potential for ups and downs. Having a stock that pays $100 in dividends each year and seldom changes in price is not very risky. Having a stock that goes up or down wildly from one period to another is risky. The same is true for health care costs. Paying $100 each year for eyeglasses is not risky. Having a chance of winding up in the hospital and having to pay $100,000 is risky.

“Risk Pooling” happens when many people get together and share their losses by averaging them together. Risk pooling works because of the “law of large numbers.” As you average together more and more numbers in a certain range, the average becomes more and more stable. Unusually high or low numbers tend to cancel each other out. For example, if you roll dice once, the result can be anywhere from 2 to 12. If you roll dice more and more, the average will get closer and closer to 7. By the time you roll the dice 1,000 times, the average will be very stable around 7.

Health Insurance companies use risk pooling to get rid of the risk they take from you. They charge you a premium based on average cost plus their administrative cost. When they pool many people, the average cost is very stable and they have little risk themselves. Risking pooling is also used in finance. When people buy a bunch of different stocks in a diversified portfolio, their average return from the portfolio is more stable and less risky than the return from a single stock.

In order for risk pooling to work, the individual risks that are pooled must be independent. “Independent” risks go up and down at different times, not together. When risks go up and down at different times, they tend to cancel each other out. If they go up and down together, the do not cancel out. For example, it is less risky to provide accident insurance for 100 people traveling on 100 different boats than for 100 people traveling on the same boat. Health care risks for individuals are generally independent, although contagious diseases or widespread disasters can change that. This is one reason why many life and property insurance policies exclude losses from catastrophic events such as war.

GET FREE AFFORDABLE HEALTH INSURANCE QUOTES

Shopping for health insurance can be very discouraging when you become aware of the costs. If you are in search of affordable health insurance, an online quote may be very helpful to you. Purchasing insurance online or simply getting an online quote from one or more health insurance carriers can save you a lot of money on the health insurance you so desperately need.

Hospital and doctor bills can be too costly for most people too afford without a health insurance plan. Uninsured or under insured medical bills can spell disaster. A health insurance plan is imperative to your health and your financial security. Online health insurance quotes are available now and you may find more affordable rates than you expected. You can find the cheapest rates possible for your health insurance needs when you receive a fast, easy quote online.

Health insurance can provide security for you and your family in the event of sudden illness or unexpected medical emergencies. The continually rising costs associated with medical care are staggering. Do not be caught in the position of needing medical attention for yourself or a family member with no health insurance coverage. An online quote can provide you with information about the choices in coverage at the cheapest rates. Medical expenses that arise suddenly could mean financial ruin if you do not have adequate health insurance coverage. Doctor bills, hospital expenses, and even prescription medications can very quickly add up to large amounts of money out of your pocket.

Online health insurance quotes are quick, easy, and could save you hundreds of dollars each year in health insurance costs. You can find excellent health insurance plans and the cheapest rates possible in just minutes when you get an online quote. If you think affordable health insurance is out of your reach, keep in mind health insurance providers are ready to give you an online quote now and will offer you the cheapest rates available. Don’t risk your financial security. Your health is the most important issue in your life. Get an online quote now and obtain the health insurance you need at the cheapest rates possible.

To view our recommended health insurance companies, visit: Recommended Health Insurance Companies.

Carrie Reeder is the owner of eZerk, an informational website with articles and the latest news about
various topics.

Transform Yourself Into an Advisor

Would you like to:

Have your existing clients continue doing business with you for years to come?

Have your existing clients refer you to everyone they know?

Have NEW prospects, who are anxious to do business with you?

Then you must transform yourself from a typical insurance agent into an Advisor.

Most insurance agents are under the impression that to make more money they need to have either the lowest priced product, the top performing product, or the newest product and they must provide exceptional service. However, doesn’t every agent claim to have the lowest price, or the best and newest products? Don’t they all claim to provide exceptional service? If that’s all an agent has to offer, how are they any different from the other insurance agents out there?

Do your prospects and clients think of you as an “Advisor”… or do they simply think of you as another insurance agent who sells insurance products?

To make more money, you need to find a way to standout from the rest of the crowd. The goal is to keep your existing clients buying, while you identify and attract more high quality prospects. To do this, you need to address two critical questions your clients and prospects want to know:

Why should I do business with you instead of one of your competitors?

What’s in it for me?

You must show them you understand and can solve their problems.

The first step to helping your clients to think of you as an advisor is to develop a Unique Selling Proposition.

Your Unique Selling Proposition or USP is that single, compelling ideal that makes people want to do business with you instead of your competitors. To put it another way, your USP is that distinct and appealing idea that sets you and your business apart from your competition.

Almost all successful businesses, whether small or large, have a USP. In fact, that’s how small businesses grow into giant corporations. For example, both Domino’s Pizza and Federal Express became billion-dollar corporations in a very short period of time - because of their powerful USP.

Federal Express’ USP was, ‘When it absolutely and positively has to be there overnight.’ This statement tells the potential customers if they want to be 100% certain their mail will get delivered the next day, then, they must use Federal Express. Domino’s USP was, ‘Hot, fresh pizza delivered within 30 minutes - guaranteed - or it’s free!’

Your USP, when formulated powerfully, can propel you to the top of your industry in a very short period of time, just like what Federal Express and Domino’s USP did for them. So, if you want to start improving your business, you need to invest whatever time necessary to create a compelling USP and implement it in your business, immediately!

Remember all of your prospects want to know what benefits they will gain from doing business with you. What problems can you solve? Unless you can answer these questions to their satisfaction, you have very little chance of getting an appointment, let alone getting them to buy from you.

The main reason the prospecting/marketing materials or systems currently used by most agents are so ineffective is they don’t answer the prospects’ most important question: “What’s in it for me?” They don’t give their prospects a good reason for doing business with that particular agency or agent.”

How to develop and use your USP…

Your USP must be one sentence.

Your USP is either Pain or Pleasure oriented. Since most people will do more to avoid pain than to gain pleasure, you might want to model your USP around the pain that your product or service removes. What problem can you solve for them?

Make sure your marketing theme, campaigns, and business plans evolve around your USP. Did you ever see a business that’s marketing had nothing to do with their USP? Did it made them look like as if they had a values conflict?

Your USP should address a void in the marketplace, with a promise you can honestly fill.

The true test of whether you’ve designed a good USP or not, is if sells for you in the marketplace. Does it define your edge? Does the consumer value it with their hard-earned money?

Contact LifePro’s Marketing Specialist Colin Baier Today - Toll Free - 866-238-8602, ext. 132 | Cell - 860-918-6503 | Fax - 860-812-2125

www.LifePro.com

The advent of the internet has opened up the possibility of cheaper life insurance for all.

In years gone by, if you were considering life insurance you would probably have invited an insurance salesman from your favourite insurance company to meet you or alternatively gone to your local insurance broker. But rarely would you have been courageous enough to get competitive quotations. It just wasn’t done. You trusted the salesman to do the best for you and surely you thought, life insurance is somewhat technical and requires specialised knowledge. All very cosy. All very expensive. How life has changed!

People now realise that life insurance is not that complicated. If on a scale of 1 to 10, buying car insurance online rates 9, life insurance must be a 7 or 8. This has opened up the Internet as a prime arena for cut-price life insurance. That’s not to imply that life policies bought on the Internet are in any way substandard. No, you’re most likely to end up with a policy from one of the UK’s big insurers like Norwich Union or Legal & General and they’ll be exactly the same policies as you could buy anywhere else. It’s just that the intense competition on the internet and efficiency and simplicity of the system, means that most online brokers decide to cut the commission and roll back the savings into lower prices.

Ah yes I hear you saying, 7 or 8 implies that life insurance is more complicated than car insurance. Yes it is - but that doesn’t mean that it represents a problem. The companies selling life insurance online recognise that many clients feel that some level of personal advice is useful and indeed, necessary. They accommodate this with a mix of useful information on the web site and more often than not, with a short telephone conversation with a life insurance adviser prior to you buying. This provides reassurance and helps to ensure you really do get the policy options you need all at rock bottom prices.

Buying online certainly is a good idea.

Michael Challiner has 15 years experience in financial services marketing at senior level, the last 5 of which specialised in online marketing. Prior to that he spent 15 years in advertising with two of the world’s top advertising agencies, J Walter Thompson and Saatchi & Saatchi.

Michael now works as the editor of Express Life Insurance on behalf of Andromeda Webs Ltd

Futher reading Can I get an online life insurance quote

Futher reading What is Level Term Life Insurance

Take your time in taking decisions, chalk out which one is best suited for you and your family from the policies made available by different insurance companies. Look into your age, condition of health, income, health habits, marital status, number of children and lifestyle.

You must always keep in mind that if you don’t need it, avoid it. No need to insure. Ask yourself how much your family is depending on your salary. If your family can’t do without your earning, you really need life insurance, otherwise no need to worry. It is difficult to say for how much money should you insure. Yes, it depends on your family’s lifestyle and debts. Generally, people keep it at between five and ten times of your annual salary.

It is recommended that if you’re under 40 and don’t have a family history of life threatening illness, try Term Insurance. It offers death benefit but no cash value. Otherwise, always go for the Whole Life Insurance, as it offers both death benefit and cash value. However, it is much more expensive than the former. As Term Insurance safeguards the policyholder only for a specified time period, it is appropriate for military and young families. It is cheaper than other policy types, but it has no savings feature.

It is also necessary to calculate your total insurance needs by examining the needs at various stages of your surviving family, and purchase insurance to cover the gaps. Don’t forget to review your life insurance plan periodically. You need to be alert when your financial responsibilities undergo a significant change. Be open to talk about the insurance plan with your spouse and let he/she understand the gaps the current insurance are going to fill.

Some points are also needed to keep in mind while buying insurance. Make your check payable to the insurance company, but not to the agent. And don’t forget to get a receipt. Even if you have purchased a policy, have a think and rethink for around ten days. You can always ask for a cancellation and change for an appropriate one with full refund. In case an agent or company contacts you and wants you to cancel your current policy to buy a new one, always contact the original agent or company before making any decisions. And it is up to you whether you try for an expensive one or the cheaper one. But don’t forget to gather maximum information.

Joseph Kenny is the webmaster of the insurance site www.insure121.com/ where you will find information, news and links to the leading providers of insurance in the UK. If you found this article interesting you may find more articles of the same nature in the insurance guide located on site.

Copyright 2005 Dean Shainin

Those TV commercials featuring happy customers who saved money and got low cost auto insurance aren’t just hype. After many years of rate increases and premiums, the cost of auto insurance is finally starting to come down. But auto insurance companies are still choosy about who can get a break on their insurance costs.

It is wise to start with your current auto insurance company to make sure you’re paying as little as possible for your premium.

The next step is to consider other ways to get low cost auto insurance and the discounts you can take advantage of.

Effective Ways To Get Low Cost Auto Insurance

* Buy A Safer Vehicle. Premiums for collision and comprehensive coverage depend on accident and theft claims and the costs of repairing your vehicle. The more expensive the vehicle, the more you will pay. Buying a safer car can help you get low cost auto insurance. Simply look into vehicle ratings. Auto manufacturers have 1 to 5 star government crash test ratings. A 5 star crash test rating is the best a vehicle can get.

* Work On Your Credit Score. The better your credit, the higher your insurance score. This score is a slightly modified version of your credit score that insures use to help set rates.

* Combine Auto And Homeowners Insurance. You can shop for both as a package, and you can typically save up to 10 % on each. You can also add an umbrella liability, or a life or health insurance policy and get an even better price break.

* Clean Up Your Driving Record. Three years without a ticket or accident are usually enough to qualify you for low cost auto insurance premiums that are available.

* Drop Collision And Comprehensive On An Older Vehicle. You can reduce your premium by at least 1/3rd. Raising your deductible from $400 to $1,200 on most vehicles can save you as much as 40%. This is a very effective way to get low cost auto insurance.

* Ask For Discounts. Getting a 10% discount on a multicar discount may be automatic, but many other price breaks aren’t always as obvious. If you drive fewer than 7,500 miles a year, you can usually get you a 5% to 10% discount. You can get a lower premium if your vehicle has anti-theft devices and you may pay less if you have safety features such as ABS brakes and automatic seatbelts. Your type of occupation can also get you a low cost auto insurance policy discount up to 10%. Taking a safe drivers class can help you get a discount, but it has to be voluntary and not because of a traffic violation.

You can get low cost auto insurance with a little time and research into the many aspects that effect the cost of your insurance premiums. It’s best to get several auto insurance quotes online, so you can easily compare the best rates and plans.

Best Term Insurance. Are you in the market for term insurance? Do you want to eliminate the hassle of doing all the research yourself? Of course you do. Information on life insurance companies is public record as well as information on their policies. The days of overcharging the buyers of life insurance are over. You can get the best term insurance by doing a little research or by subscribing to companies like The A. M. Best Company…

These people have made it their mission to keep on top of the activities and performance of life insurance companies. Organizations like those I send you to from my site depend heavily on A. M. Best and similar organizations to keep them on the right track.

There you can find detailed information on term life insurance as well as permanent policies. Let us look at some of these policies.

There are three basic types of term policies…all but one have no cash values. The three types are yearly renewable term or increasing premium life insurance, decreasing term and level term life insurance. Each policy was designed to fit a particular need and should be examined thoroughly before you make a purchase…

Increasing premium term life is a one year term policy. The insurance company gives you the option of renewing it each year. Decreasing term is used as mortgage life insurance and is also quite inexpensive. The level term policies can be bought for periods of time from 5 years to 30 years. Some companies have them going up to age 80 or even age 90. There is, however, an increase in premium for these policies as you get older.

Which policy is the best? This depends on your particular need. A person who is the breadwinner for a family…or at least one of the breadwinners may find either the 20 year term policy, the 25 year term policy or the 30 year term the best term insurance policy for his or her situation. A person with short term needs would probably find the 5 year term or 10 year term would best fit his or her situation.

A fairly new level term life insurance policy is the return of premium term life policy. The difference between this policy and the other level term policies is that at the end of the term period you get back all the money you have paid in. This may sound good but bear in mind that this policy costs more than the regular level premium term policies. Unlike permanent policies you cannot take a loan from your policy if you are in need of cash.

For detailed information on each term policy click the link below.

Health insurance coverage is a major necessity for today’s active consumer. Taking the chance of not setting enough money aside in order to pay your monthly health insurance premium is basically gambling with your financial and physical well-being. Typically, health insurance benefits and coverage vary widely among the many different health insurance providers. However, they all have one common trait or feature and that is they all pay for a pre-determined amount of incurred medical cost for the policy holder or insured individual.

Health insurance may not seem as important to you right now and in many cases most people don’t acknowledge the fact that they even need health insurance until it’s to late. This usually happens right around the time when a consumer requires significant medical attention or assistance. For some folks even routine doctor’s exams and medical appointments can be the catalyst or wake up sign that health insurance is very vital to living a health and stress free life.

The United States health care system is unique in its own right due in large part to the privatization that has occurred in the medical and health care community. This is spurned the demand and need for an adequate health insurance policy and coverage system. Many other countries actually use a government-sponsored form of health care that doesn’t require insurance coverage in any form.

The three primary forms of health care insurance include the self-insured and uninsured consumers, managed care plans and indemnity health care plans. The self-insured and uninsured group of consumers normally consist of the self-employed and unfortunately folks that are currently not working or out of work. The latest figures show that about 35% of the folks needing health care insurance fall into this category.

Chances are you’ve probably already familiar with what a managed health care plan is, thanks in large part to the stories discussed in the newspapers, TV and local radio stations. After all, health care is a hot topic for many consumers living in the United States. Basically all a managed care plan does is offer contracted health care providers at pre-negotiated prices. There are three different versions of the managed health care plans provided in today’s medical community. The most commonly known is the Health Maintenance Organization or HMO. This plan requires its insured members to contribute a set dollar amount or fee each month in exchange for medical care. The typical medical services that are readily provided by an HMO include routine appointments, surgery and some outside specialization treatments (although the HMO plan usually frowns upon seeking medical assistance outside of the HMO network of providers).

The next managed care plan is the Preferred Provider Organizations or PPO. This health service plan normally requires the insured to make payment up front and then provides a re-imbursement to the member of the health care plan. Much like HMOs the PPO has a set network of doctors and health care providers that ity has negotiated with in advance in order to obtain better rates for medical treatment that may be required by its members.

The final plan offered by the managed health care plan is the Point of Service or POS plan. This plan isn’t really talked about as much as the HMO and PPO health insurance plans based on the fact that it’s not as common. A member of this plan avoids having to pay a deductible and a small co-payment fee provided they use a doctor that is a member of the POS network. The major drawback with this plan is if the insured member seeks treatment outside of the referral network then a rather large deductible is incurred along with some rather stiff charges.

Aside from the self-insured/uninsured plan and the managed health care plan there is still one more form of health insurance coverage that can be obtained by consumers who have a little more money that they wish to spend on their health insurance coverage. This plan is the indemnity plan and although it offers the least amount of restrictions when compared to all other health care plans it is also the most expensive. The reason for the high cost associated with this form of health insurance coverage is due to the ability for the plan member or insured consumer to visit any doctor or health care specialist they want to receive health care from as often as needed or required.

With several choices between which health insurance plan or coverage to choose from it really boils down to each individual consumer’s own unique needs, wants and desires when it comes to the health care they want provided to them. Searching for the right health insurance coverage can be a mundane and laborious task but it doesn’t have to be difficult if you know what you’re choices are prior to beginning your quest to find the best health insurance plan at the most affordable price.

Sound health is an indispensable feature of every individual’s life. No targets and success can be achieved if we are physically unwell. In order to safeguard this central aspect of our life, health insurance is the need of the hour.

Health insurance as we all know is the best way to secure your health against all expected and unexpected problems. Due to this almost every individual seeks to acquire a health insurance policy.

At present there are many companies offering health insurance. While going for a health insurance policy you will confront a choice between private and government insurance. Prior to opting for either policy, you should know that with a private health insurance you would have an access to luxurious private hospitals, wide range of private doctors to choose from and mostly immediate treatment. While in a government health insurance scheme the lifetime health cover penalizes people who take out health insurance later in life with higher premiums. If you take the policy after your 31st birthday you will be required to pay a 2% surcharge annually up to 70%. So for instance if you acquire the policy at the age of 50 you will have to pay 30% more than a person who joined at the age of 30.

Government health insurance policy also comes up with a Medicare levy surcharge according to which unmarried people earning more than $50k and married couples with or without children earning more than $100k will pay an extra 1% Medicare surcharge in addition to 1.5% Medicare levy most people pay. But this extra annual expenditure of $500 to $1000 can be avoided by opting for hospital insurance.

Premium plays a key role in choosing the kind of policy you want. Money can be saved on premium in various ways such as purchasing a policy with ‘excess’ or the money that an individual is required to pay for stay in a hospital before benefits are payable. You can also buy a policy that asks for a co-payment. In case of co-payment if you don’t go into hospital, the member decides to pay usually a fixed amount of money each time he avails the service. Choosing a policy that doesn’t include several treatment facilities is also an option to lower your premium rates. Besides this you can also buy a policy that only covers you as a private patient in a public hospital. However it is better and in the long run beneficial to take a policy that offers a high ‘excess’ in comparison to those that exclude several treatment conditions. Some commonly barred treatments are- cosmetic surgery, cataract surgery, rehabilitation, hip, knee and other joint replacements, obstetrics and birth related care, assisted reproduction and psychiatric care. In case you want coverage for any of these treatments, prior to purchasing make sure your policy includes it.

Mansi aggarwal recommends that you visit Health insurance tips for more information.

You can shop all day and night online for car insurance or you can be prepared and save time. Online car insurance quotes are as complete and accurate as the information that you provide. The best way to shop online is by giving the insurance company the detailed info that they need to give you the best possible rate.

The Vehicle Identification Number - You must enter this number online to receive the proper rate. The Vehicle identification number on a vehicle will indicate the safety features on your automobile and that will give you discounts. Air bags, seat belts, and anti-lock breaks are valuable discounts. Rates are higher without these discounts. Have your vehicle identification number available.

Drivers License Number - You are going to have your driving record investigated sooner or later and so you might as well get it done at the beginning so that you will have an accurate rate based on your driving record.

Prior Insurance - If you are comparison shopping then you will need to have your prior insurance policy available. Prior insurance discounts are huge but you have to prove that you have a policy by entering your present insurance company effective date and policy number.

Usage - it is important that you have a good understanding on how you use your vehicles. How far one way to work? Is your car used for pleasure? How many miles per year do you drive on each vehicle?

Discount Tips - Insurance companies will give discounts for a variety of reasons. There are retirement discounts for seniors. Young drivers receive discounts for drivers training education as well as good student discounts by some companies. Multi-policy discounts when both auto and home insurance are with the same company.

Online shopping is so much easier when you have all this information available. Be prepared and you will save valuable time and money.

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