Child Abduction Product?
what do you think, if i create an insurance product on child abduction? it will be similar to an endowment product, which the parents will have to settle up premiums every year for 18 years. let say-so the child was kidnap in the 18 years permanent status, the parents will get the accumulate benefit but if the child is not kidnapped (safe), the child will carry a lump sum to pay for his sophisticated level of childhood.Answers: Kidnap and Ransom insurance already exists and the target market is sophisticated adequate that they would usually not want an "edowment" product.
Good luck.
Child abduction product?
You sicko! Leave the kids alone.
I see one major problem near this.
There IS such a coverage already, as kidnap and ransom coverage. It requires a property/casualty license. Then you're chitchat about an endowment type benefit, beside maybe a toll issue. It's going to require a life/accident/health license, and possibly a variety of securities vendor licenses.
I can't assume of ANY insurance product that requires dual licensing approaching that. And most companies don't sell to both sides of the barrier, so to speak. And the majority of agents don't keep both types of license active - they tend to specialize surrounded by property/casualty (like me) or investments and annuities (financial planning type stuff).
So I don't think it's viable.
*not to mention, here within Houston, the vast majority of child kidnap issues, are kids of illegals, kidnapped by the coyotes, and held for ransom to settle up the remainder of the "shepharding" fees that the coyotes charge to bring illegals here to the USA. That type of kidnapping is NOT going to be covered. Nor is kidnap by a non-custodial parent, where no ransom is required, which is by far the largest kidnapping circumstance surrounded by the USA as a whole.*
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360-944-7332
The parents of children who are target for kidnapping for ransom can already afford to convey their kids to any school they want anywhere. So the endowment aspect is moot. There's already a Kidnap and Ransom policy, so the other aspect of your policy is moot. No one is going to make off with an inner city kid or some farm kid for ransom.
For any other type of kidnap, what the hell are parents going to do with $10,000 when their kid is missing and the prospect of their safe return is nil?
So to sum up you enjoy a product which no insurer will want to get on the train with.
Insurance fraud!?
Company X bills insurance (health) for a medical machine. This electrical device comes in a box to be exact sealed and includes pieces 1 and 2 (listed as $200). Company X bills your insurance for the tool ($200) plus pieces 1 and 2 which adds $60 on to the total. My point is the box is hermetically sealed... can you charge for each item within the box to insurance companies?Any opinions?
Answers: The company that sell the machine and its parts can charge anything it wishes for it. No company is obligated to charge what a durable good in actuality costs -- this is how all companies receive money.
It's not insurance fraud.
EDIT: I just looked at your second comments. If this supplier has a contract next to the insurer, it doesn't matter what they charge -- they own to accept what the insurer pays and they cannot set off bill the patient. But if the supplier is not a contracted provider, they can bill doesn`t matter what they want. Again, that's how businesses operate in a capitalistic society. It might be reprehensible, but it's not insurance fraud.
do you denote can the company x charge for each item?
if the flat helpfulness was $200 i mull over thats all you can charge to insurance companies
Our ob/gyn charged the insurance company for deliver a baby. But he wasn't even in that at the time. He arrived about 15 minutes after the certainty. He was remunerated several thousand dollars.
Yes.
Yes company X can bill more than they paid for the item, to be precise how they make their money. Wal-Mart does not charge you what they salaried for merchandise, same sort of idea. A lot of insurance companies will request the invoice and earnings 10% or what ever they have negotiate over the invoice total.
The company can still bill what ever and however they want to bill. They are not being fradulent.
What is needed to become a homeowners insurance broker in California?
Answers: You need to pass a test to get your license, and you have to find an insurance company willing to let you sell their product.
You will have to first pass the test to become a licensed insurance person to sell insurance and then pass the test to become a broker. Speak with a broker and ask questions.