What are the Best Insurance cum Investment Plan?

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In India, available insurance policies can be broadly classified in two categories – pure life covers, which are also called as term life insurance and Insurance cum Investment Plans. Investing in insurance cum investment plans is often considered as a secured and profitable investment option since they are designed to serve the dual purpose of both savings and life care and are further classified into two categories.
1. ULIPs and
2. Traditional insurance plans.
There are a number of differences between them,  but the most important to them that every investor must know prior to investment is that, in traditional insurance plans, it is the insurer who borne the risk while in ULIP the insured person is required to borne it. There are also some other differences in other factors like the transparency and flexibility of the policy, liquidity and the maximum equity exposure.
As the risk is borne by the insurer, traditional insurance plans are more secure than ULIPs and the available traditional insurance plans in India can be classified into three basic categories – whole life plans the money back plans and endowment plans. A whole life insurance cum investment policy is designed to provide insurance coverage for a lifetime and pays an assured sum with bonus to a designated nominee after the death of the policy holder and normally whole life insurance coverage is available up to a maximum age of 80 or 85.
Just like the whole life plan, endowment policies are also a mixture of savings and investment, but unlike the previous they provide insurance coverage for a specific period of time only.
Money back plans are also more or less same with the two that are already mentioned. But there is a major difference between them, and that is unlike the whole life plans or the endowment plans that offer payout only after the policy is matured in case of a survival, the money back policies offer a regular payout of a predetermined sum at regular intervals along with a sum assured with bonus at the maturity of the policy.
Compared to insurance cum investment plans, ULIPs or Unit Linked Insurance Plans consider as a high risk investment option. ULIPs are actually linked to the stock market and the premiums that are paid by the insured are actually invested in the stock market. Due to the unpredictable nature of the stock market gain from ULIP investment is also unpredictable and policy holders may sometimes face losses too. But ULIP also provides an investor the flexibility to choose an investment plan and premiums and as a return on ULIP can also be much higher than that of insurance cum investment plans they are also a pretty popular investment option in India.
Selection of any of the above mentioned investment plans actually depends upon your ability of taking financial risk. Compared to less risky insurance cum investment plans ULIPs are more aggressive and also have high volatility and return to them can also be pretty abnormal at times. But it is ultimately your decision to finalize where you will like to invest your hard earned money and if you can really afford a loss you can consider investing in ULIPs otherwise the insurance and investment plans are always going to be the safer option for you.

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Why Vehicle insurance Is Necessary

In the event you own a car and you want to use it lawfully, you must have valid motor vehicle liability insurance. It means monetary defense on your auto, street motorcycle or truck in that case when you get involved in a traffic mishap that leads to human as well as material injury.

The restrictions of auto insurance are unique in each and every country. In america of The usa you have to met the criteria of your own point out.Anyway, it's a common problem all around the world which vehicle proprietors have to acquire insurance prior to they start to generate on open public roads.There are several items that could be insured in the support coverage: your vehicle(ersus), you and your holidaymakers, the other harmed vehicle and it is passengers. It's also possible to get paying off for booking an auto rather than yours and then for towing your current damaged automobile to a mechanic shop.The car insurance agencies take into consideration many factors so that you can determine everyone's premium : they would like to get minimal danger in the case of each customer. The most important components are the popular features of the driver like age, sexual category, marital reputation, driving record and credit ratings. In addition to these the vehicle specialities (capability, retail price) and in what way of using the automobile (it matters how much and also where you uses it) can also be essential. Your own monthly fee is determined by the degree of insurance coverage that you select.You can expand your simple policy along with cover for organic wear. It's not apply to damages which are connection between collisions, created by vandals or normal forces. As soon as the expiration regarding warranty this is sometimes a really useful service.The insurers monitor regularly the particular points with their policyholders. Each driver will get plus points, should they cause injuries or violate the visitors rules (like driving over the red mild, speeding). For those who have more details, you suggest bigger chance for the insurer and because of this your quality will be greater.I would like to advise a few simple ideas that you should adhere to in order to avoid the rise of your top quality:? Drive properly and always put on the car seatbelt! Don't violate the rules , nor get into injuries - a speeding solution can increase your premium through 15%; if you get any ticket as a consequence of reckless driving a car or you drive under the influence your bottom rate may be bigger through 20% or more, following an accident as much as 40%.? You should report even your current smallest incidents to your provider. If you don't undertake it, they may stop your coverage.? Install the anti-theft device for a auto to aid in the stopping of thievery.? If you take as well as pass a defensive generating course that is accredited, your own rates can be cut simply by 10%.Don't forget that your premium will likely be higher routinely if you have a flashy activity car.A number of companies have started to use an odometer-based insurance coverage system. They follow up his or her policyholders' odometers. In this case the particular support can certainly when the odometer gets to the in the past determined limit - it's on the Identity card with the car that has been given by the company to the driver. But if you purchase more distance, then the insurance policy will continue. This method is good because you don't have to forecast the distance that you'll drive inside the coming yr. And the police can easily look into the validity with the insurance: they simply compare the actual numbers around the card and on the odometer.



Settle Your Own Injury Claim
Consumers Learn From An Attorney The Secrets To Increase Their Personal Injury Settlements And Avoid Paying Attorney's Fees And Cost. It Teaches Every Step Of An Insurance Claim And How To Handle Insurance Adjusters And To Properly Document A Claim.

View the original article here

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Insurance-Find out if it is essential for you!

By law, all motor vehicles have to be insured. You must have some form of insurance, it doesn't matter if you own a car, motorbike, van, truck etc. You can choose from, there are three types of insurance policies like HGV Fleet Insurance, 3 car fleet insurance and 2 car fleet insurance.

1. To cover you from accidental damage to your vehicle and other peoples, comprehensive insurance is designed.

2. To other peoples' vehicles and not your own, third Party insurance will only cover damage.

3. For damage to other peoples' vehicles with the addition of fire and theft cover, third Party Fire and Theft will cover you.

This could be a collection of cars, motorbikes, etc, then you may benefit from Fleet Insurance and you don't have to own a business to take advantage of this type of motor insurance when most of us only require insurance for one or two vehicles but if you have more than five motor vehicles. If you own less than five vehicles, this is called a mini fleet insurance and it is worth shopping around as there are insurance companies who will give you quotes.

On certain factors which will be taken into consideration, the cost of the policy will depend. For example, if there will be any other people who will be driving them, how many vehicles you own, the type of vehicles and the age.

Because it is one policy that covers all of your vehicles, fleet Insurance is much more widely used by businesses. Included in this would be businesses that could benefit from this type of insurance are:

Car rental companiesTaxi cabs - for private and public hire taxi cabs, insurance is availableCourier servicesBus and coach companiesSecurity firmsLimousine servicesCompanies who provide their employees with business cars

A Fleet Insurance policy will save you time and money as all your vehicles will be covered under one policy and you only have one renewal date to remember. 
As with normal insurance policies a Fleet insurance policy can include a courtesy car and be customised to suit your company's needs.

Depending on what cover you are quoted for it could include breakdown and accident assistance.



Settle Your Own Injury Claim
Consumers Learn From An Attorney The Secrets To Increase Their Personal Injury Settlements And Avoid Paying Attorney's Fees And Cost. It Teaches Every Step Of An Insurance Claim And How To Handle Insurance Adjusters And To Properly Document A Claim.

View the original article here

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Creating a Paperless Claims Management System Environment

In today’s claims management department implementing a paperless claims management system can sometimes be looked at as an unattainable goal. Difficulty and disruption are high on the list of reasons most claims professionals stay with their antiquated workflow processes. Considering a paperless claims system is now a necessity with hard copies overtaking the claims work environment.

Moving into a paperless claims environment comes with several benefits:

Enhanced Document Depository
With today’s technology, Google type searches, instant retrieval, and information over flow, sophisticated users are demanding. Retrieving documents immediately has become a necessity. The benefit of a paperless claims management system is the access to a robust document depository tool that is designed to supplement and aid in all electronic document storage. Claim managers will have the option to receive, store and view all claim documents electronically.

Updated Business Processes
Going paperless puts a direct spotlight on all current policies and procedures. All claims processes will need to be re-configured to work in tandem with the updated paperless policy. This gives insurers and claim professionals the opportunity to work hand in hand with other departments and vendors to re-work the claims process in a paperless fashion that increases customer satisfaction and decreases costs. The relationship between the IT team and claims department is maximized with an increased amount of communication to create an ideal paperless system that interacts with all functions seamlessly.

Saving Costs
A paperless claim system sets up the foundation for a faster turnaround time for claims, and gives adjusters the needed information to process claims efficiently.

The less time spent on the claims handling increases the savings amount for salaried time spent on each claim. Insurers are also able to create more informed decisions regarding each claim, resulting in lower claim costs.

Transparency
With an entire company’s global operations now connected, it creates cross-department collaborations, and adjusters can create a transparent and efficient environment that welcomes improved business operations. Time zones, office locations, will no longer be a deciding factor in the claims handling process. Having a constant view of claims in a real-time basis creates a turn-key process with additional support including task reminders, input of pre-defined data, and a streamlined process.

In the end, creating a paperless claims management system requires an open mind, a strong vision, and the willingness to embrace today’s new technology. Transitioning to a paperless claims system is an intricate process of carefully piecing together a complicated puzzle. The end goal will be the benefit of increasing the quality of claim outcomes, and improving the customer‘s experience.

Settle Your Own Injury Claim
Consumers Learn From An Attorney The Secrets To Increase Their Personal Injury Settlements And Avoid Paying Attorney's Fees And Cost. It Teaches Every Step Of An Insurance Claim And How To Handle Insurance Adjusters And To Properly Document A Claim.

View the original article here

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What Happens After I Get Insurance?

So much emphasis and energy is put into actually getting a decent deal on your car insurance or home insurance that what to do after you’re all signed up is often a mystery.  The whole ‘sit and wait for something bad to happen’ theory leaves a little to be desired, but you don’t want to be completely over the top, either. 

To be completely honest, if you don’t ever have to file a claim for your car insurance or home insurance, there won’t really be much excitement, which is exactly how you want it to be.  Filing claims means that something bad has happened, and no one wants that. 

Make a File

Perhaps the easiest thing to do after you get car insurance or home insurance is to make a file of some sort to keep all of the important papers in.  it can be a briefcase, a paper folder, plastic folder, zippered folder, or even one of those small fireproof home safes.  Whatever you choose to keep the papers in, make sure they are all together and make sure they are safe. 

If you are lucky, you won’t have to worry about home insurance or car insurance until it’s time to renew, but if you do it’s nice if everything is together.  The mind has a way of completely forgetting where you put things if you don’t have to see them for a while, and if you have some policies or forms in one place and some in another, you might never find them.  Keeping an ‘insurance file’ with all of the pertinent information will allow you to put it out of your mind and go on with your daily life.

Follow Your Conditions

Of course, you don’t want to put it completely out of your mind.  As with any home insurance and car insurance, there will be rules and conditions you’re supposed to follow to help keep your premiums low.  Make sure that you keep following these conditions for the life of your policies, then you’ll always be on the good side of your provider and it will pay dividends when it comes time to renew them. 

Give It a Look

If all is quiet with the car insurance and home insurance policies like you want, try to open up the file and read through them every few months.  This will remind you of your responsibilities and just keep everything on top of mind so you don’t forget when it’s time to renew or any other important information.

 



Settle Your Own Injury Claim
Consumers Learn From An Attorney The Secrets To Increase Their Personal Injury Settlements And Avoid Paying Attorney's Fees And Cost. It Teaches Every Step Of An Insurance Claim And How To Handle Insurance Adjusters And To Properly Document A Claim.

View the original article here

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Essential Characteristics to Look for in a Policy Administration System

In today's economically strained environment, insurers are looking for more and more ways to improve operational efficiency and to reduce costs. In this scenario, many are resorting to policy administration system to achieve their goals with less effort.

According to the World Insurance Report 2012, insurers are forced to concentrate on improving underwriting performance by optimizing claims, customer acquisition and other operational costs. The study surveyed insurance executives across the United States, Europe and Asia-Pacific and found that for 93% carriers in Europe and 67% carriers in US, increasing the efficiency of policy administration technology is one of the major priorities for improving margins.

This clearly tells us the importance of adapting a good policy administration system to stay ahead in the current competitive market. However, as there are many policy administration systems available in the market, it becomes difficult to choose one. Here are some essential characteristics that make an ideal policy administration system.

Scalability – A policy administration system that has limits in capacity is of no use. With the likelihood of new features getting added and with more and more customers accessing, your system should be scalable as well as flexible. It should have the ability to scale up to any number of transactions without making any changes in the programming.

Adaptability – Traditional policy administration systems that lack the flexibility to adjust, add or remove products are no more useful in the today's market where the needs of business insurance are often changing.

So, when evaluating a new system, see if the system supports your business and other technical requirements which may arise in the future.

Flexible architecture – Just like the software of the system, the hardware of the system should also have a flexible architecture to adapt change. It should allow addition of new items without the need of programming or database changes.'

Easy to access – In the present Internet world, choosing a web-based policy administration system is sensible. Many customers today prefer to search online and request quotes from various insurers, unless your system is web-enabled you can't reach that group of customers. The system becomes more functional if it can accommodate mobile computing.

Configuration sharing – A typical insurer deals with many insurance products that often have overlapping features. To make the best of your new policy administration system, make sure that it provides effective configuration sharing so that you can configure different products with common characteristics with less effort.

Easy to use – Your new system becomes less effective if it takes more of your time and resources. So, make sure that its operation is not only effective but also easy. Every department involved in its operation should feel comfortable using it - then only it becomes viable. This also avoids you to hire new resources, which is an additional expense.

These are just the basic features that you need to look for while purchasing a policy administration system. Based on your individual requirements, you can look for other things that help you accomplish your business goal with greater ease.

Settle Your Own Injury Claim
Consumers Learn From An Attorney The Secrets To Increase Their Personal Injury Settlements And Avoid Paying Attorney's Fees And Cost. It Teaches Every Step Of An Insurance Claim And How To Handle Insurance Adjusters And To Properly Document A Claim.

View the original article here

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Billing Specialists to Look After Major Billing Issues Likely to Be Faced By Radiologists in 2013

Radiologists, who have been striving to maintain a balance between diagnostic priorities and operational compliance, may well find pulled further into a host of billing and compliance issues throughout 2013:

To begin with, they will have to discern the vital connect between diagnosis coding and procedural coding systems and the systems that have evolved to provide a common method of describing diseases, diagnoses, and procedures.

Second, like in other disciplines, they may be bound by the medical necessity clause while diagnosing high-cost tests. In fact, Medicare requires that the medical necessity of high-cost diagnostic radiology tests be proved and the extent to which they may be prescribed for beneficiaries by either primary care physicians or physician specialists. Therefore, radiologists need to be aware of both the medical necessity as well as the extent to which beneficiaries are entitled for radiology reimbursement under Medicare, Medicaid, or commercial health insurance plans.

Third, admissible radiologic expenses for Part B imaging services may be rationalized on par with industry standards. As a result, radiologists may see their reimbursements dropping or appreciation depending on where they stand vis-?-vis industry standards.

More importantly, radiologists may be under increased monitoring for billing errors, and irregularities. It could even lead to being black-listed for repeated history of billing malfunction. Therefore, it may require a concerted effort to stay clear of being guilty under Medicare, Medicaid, and other HHS programs or commercial health insurance plans.

These ensuing operational issues may prompt radiologists to:

Screen medical necessity and ask for advanced beneficiary notices (ABNs) on Medicare patients. This could require radiologists to function in tandem with the facility staff at the patient’s hospital to ensure the ABNs are accompanied by component fee as well.Be prepared for Recovery Audit Contractors (RACs) and Comprehensive Error Rate Testing (CERTs), which are integral to standard scrutinizing. This would call for tactical and shrewd documentation and explanation of the radiologic services billed for claiming.Evaluate templates and exam titles in accordance with the prevailing standard of equipment, technique or procedure, and the admissible CPT codes as amended from time to time.Establish smooth communication with billing processes during revision to equipment, techniques or procedures. This would ensure that the modifications are adequately reflected in coding and billing, and claims are devoid of either under-coding or up-coding.Make provision for reporting discrepancies, such as number of views or extent of technical complexity. This could help radiologists recover maximum claims as well as minimize the chance of denials and auditing issues

Even as radiologists seek to implement tactical moves to counter the impact of billing issues, they may find themselves swayed more towards clinical focus. That is why it makes sense to hire Radiology Billingspecialists for the purpose. Medicalbillersandcoders.com – having nation-wide affiliation with a chosen pool of radiology billing specialists – offers to deploy billing resources that are competent and experienced to address and maneuver radiologists through the billing issues likely to surface in 2013.

Settle Your Own Injury Claim
Consumers Learn From An Attorney The Secrets To Increase Their Personal Injury Settlements And Avoid Paying Attorney's Fees And Cost. It Teaches Every Step Of An Insurance Claim And How To Handle Insurance Adjusters And To Properly Document A Claim.

View the original article here

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