My own insurance company oblige?
Answers: Don't feel stupid, believe it or not, even those of us who know what it is, don't other understand the industry, adjectives it's ins and outs. Here is a basic definition. You settle an insurance company a monthly, quarterly or annual premium, say $300.00 per month to cover you for things approaching car accident, illness, twist to your home, or whatever, near are many different types of insurance.
If something happen to your car, close to an accident, they afterwards pay for you to draw from it fixed or replaced. If you have a house fire, an insurance company will payment to have the damages repaired, or the house replaced. If you become sick, insurance will wages for doctor visits, hospital stay, etc.
When you hold a car disaster, for example, you submit a claim to the insurance company. They send someone out to look at the smash up. This person is call an adjustor. His or her job is to determine the amount of the damages and submit the approved amount to the repair shop to do the work. There are adjustors in home owners insurance and surrounded by medical insurance, in any quality of insurance.
This is the basics of what insurance is. The amount you foot in premiums depends on the ammount and type of protection you want.
I hope this help
When you buy insurance you are paying a company to assume a financial risk that you are unwilling to assume yourself.
Example 1: I can afford to make minor repairs on my house myself. This is a risk that I am prepared to accept. I am not prepared to risk my house burning down or being destroyed contained by a storm, so I pay Shelter Insurance company almost $500 per year so that if need be they will payment to replace it or make central repairs. Also, my mortgage company requires it.
Example 2: I can afford to go see a doctor immediately and again. This is a risk that I am willing to adopt. I can not afford to pay the doctor and or hospital bills if I have a serious illness or happenstance. Therefore I buy health insurance that pays the bills after I achieve a certain deductible amount.
Don
Difference between TRICARE and CHAMPVA?
It's when something opportune happen, you enjoy a fallback. Like when somebody unexpectedly died, the insurance will take comfort of the burial or even the debts left at the rear. Health insurance also takes guardianship of the medical bills.
To equip you with more information. Go to this site:
www.surelyinsured.com
Widow desires 2 procure spouse edge acct?
Insurance:
A promise of compensation for specific potential adjectives losses in exchange for a intermittent payment.
Insurance is a financial vehicle designed to repay for future losses which are chance and not planned.
Are medical co-pays redeemable?
It is mainly for protection and give a hand. Health insurance, car insurance, and adjectives sorts. What they do is like if you enjoy a high medical bill they reward a little bit of it depending on your insurance company is what your living is...
That is my definition basically.
In simple language it is spreading of risk. If everyone pays a little money into the pot. When someone requests some there is money available for a loss. It is not designed to get you more than what your loss cost but freshly bring you back to a pre-loss condition. http://dictionary.reference.com/browse/I...
http://en.wikipedia.org/wiki/Insurance
hope it help!
After reading that, i now know what insurance is :D
because, silly me, i didnt know any :X
Insurance is a way to nouns troubles you may have down the road, and if you do others hardship, and can be required by canon. www.dictionary.com
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