Thursday, July 29, 2010
Definition of a Wholesale Insurance Broker
Retail insurance agents meet countless clients and prospective clients regularly. Even independently licensed agents are often unable to extend their resources beyond a small handful of preferred insurance carriers, often remaining unaware of unique or specialized products.
That's where wholesale insurance brokers come in. Since they do not deal directly with the general public, but rather with the retail agents, they have time to research more carriers and learn new niche products, which they can present to retail agents to help meet their clients' needs.
That's where wholesale insurance brokers come in. Since they do not deal directly with the general public, but rather with the retail agents, they have time to research more carriers and learn new niche products, which they can present to retail agents to help meet their clients' needs.
Wednesday, July 28, 2010
State Laws Regarding Suicide Exclusion on Life Insurance in Montana
The state of Montana, like every other state, regulates the insurance industry as it applies to business conducted within its borders. Life insurance products and policy contracts offered for sale within the state, or to residents of the state, must meet specific guidelines and adhere to established regulations.
With respect to death by suicide and the payment of life insurance claims in such a situation, the state of Montana adopted legislation shared by the majority of the country’s other states. Montana Code sections 33-20-121 and 33-20-105 describe, very specifically, how policy provisions may, and may not, be written and implemented.
With respect to death by suicide and the payment of life insurance claims in such a situation, the state of Montana adopted legislation shared by the majority of the country’s other states. Montana Code sections 33-20-121 and 33-20-105 describe, very specifically, how policy provisions may, and may not, be written and implemented.
Tuesday, July 27, 2010
New Jersey Life Insurance Contestability Rules
Make sure you know exactly how and when a life insurance company can deny benefits!
Any company wishing to conduct business and sell insurance in New Jersey must first file an application with the DOBI, and any agent wishing to represent an insurer must fulfill educational requirements and complete a state-approved examination. In order for a carrier’s products to gain approval for sale, certain features and characteristics of the contract must conform to New Jersey legislation.
Sunday, July 18, 2010
Tuesday, July 13, 2010
Thursday, July 08, 2010
Understanding Health Insurance Deductible Maximum and Out-of-Pocket Co-Pays
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| Source: TaxCredits.net |
Many of today's health insurance products contain provisions and characteristics that were not seen on earlier policy versions.
Trying to decipher the definitions of the contract language, and memorize the features and limitations of your policy, can be daunting at best.
Understanding the basics of health insurance policy cost-containment provisions is essential to purchasing the right product to suit your needs and financial capabilities.
Wednesday, July 07, 2010
Tuesday, July 06, 2010
Explain Health Insurance Deductibles
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Deductibles split the cost of medical treatment
between consumers and insurance companies.
Source: Expensive Medicine by MAXFX via Fotolia
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Medical insurance programs containing deductibles might appear attractive at first glance, but they present potentially significant dangers to the uninformed consumer.
Understanding how health insurance deductibles work will reduce the likelihood of confusion or “sticker shock” when invoices for medical services arrive in the mail.
Monday, July 05, 2010
Saturday, July 03, 2010
Explanation of a Health Insurance Deductible
Deductibles act as a cost-sharing mechanism between the insurance company and the customer, with the intention of saving money for everyone involved.
Policies containing deductibles present some advantages and disadvantages that must be carefully considered before those policies are purchased.