Disability Coverage

Disability insurance policies are designed to pay part of your wages should you be injured in an accident or are unable to work because of illness. Here are two types of policies available: long-term disability and short-term disability.

Short term disability pays a portion of your wages should you be out of work due to injury for up to one year. Some employers pay for this benefit for their employees, some offer it for employees to purchase.

If you have a pre-existing medical condition, the time to enroll is during the initial enrollment period when a medical exam is not required.

Replacement of wages is only partial; insurance underwriters, as well as your employer, want you back at work as soon as possible. Usually there is a waiting period of 14 days in which you will not receive payment.

Long term disability policies are purchased to replace what your potential earnings would be from the time you become disabled until age 65 when Medicare would be available.

For instance, if you are 55 and make £40,000 per year, you should purchase a policy for £400,000.

You cannot get a long term disability policy if

(1) you are or are soon to be pregnant,

(2) make less than £18,000 per year,

(3) are unemployed, or

(4) you are required to carry a weapon for your job.

Typically, the waiting period for long-term insurance to kick is at least 60 days and as much as a year.

Disability insurance is an important aspect of your overall insurance coverage plan, and if your employer offers it as a benefit you should definitely consider it as a wise investment.

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Travel Insurance Protects All Travellers From Risks!

Any unexpected expenses during your travel abroad need to be preplanned well in advance. Travel insurance is indispensable when you are traveling to a foreign country, sometimes you are on your own and any unforeseen incidents such as accidents or illnesses will be borne by you wholly. With Travel insurance your medical expenses or any other unforeseen expenses will be covered.

It’s basically an agreement between a traveller and an insurance company by which an insurance company is obliged to cover all the losses that you may incur during the trip abroad. An insured person pays the premium either in single or multiple installments.

Which is the right time to get the travel insurance?

For frequent travelers there are more broad permanent travel insurances that protect you during all your trips that meet certain requirements. Such online travel insurance can be purchased directly from insurance companies but also from travel agents or travel companies.

What happens in case of pre-existing medical conditions?

Anyone with a serious pre-existing medical condition would find it tricky to attain a travel insurance. However, it’s not impossible, travel insurance companies exclude all claims related to pre-existing medical conditions. Some insurers will cover for pre-existing conditions without any additional premium. Other travel insurance companies may have a medical screening system, usually carried out over the telephone or online. You are asked a series of questions in order to assess the risk involved and to determine whether you can be given insurance, in such case you may have to pay an additional premium to cover the risk of pre-existing condition, or exclude any claims relating to risk.

What all am I covered for in such insurance?

The most common risks that are covered by travel insurance are flight delays, cancellations, limitations. Theft of luggage, delay or loss of personal possessions up to a certain amount when undeclared and up to any amount when declared and included in the policy is covered under such travel insurance. It will also cover for medical expenses whether due to illness or accident. This includes transportation to and from hospitals and clinics, physicians' fees, medications, etc.

In case of death, all funeral expenses, benefits of accidental death, will be covered by the insurance. Legal coverage such as legal fees, personal liability for accidents in case you are responsible for the accident and have to bear the injured person’s medical expense. Moreover, there are other risks for which insurance can be purchased jointly or separately from a regular travel insurance contract.

If you buy a travel package to a high risk destination, chances are that the policy will already contain those clauses, the same is applicable if you hire all the services needed to perform the high risk activities from the same agent. However, you should carefully read the policy before committing to anything and make sure that you are sufficiently protected.

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Obesity and Health Insurance

When it comes to health insurance, we all seem to be paying high premiums.  The cost of healthcare has risen and it is reflected in the quotes we receive.  However, if you are considered obese, your health insurance premiums may be significantly higher or some health insurance companies may simply deny you coverage.  If you were to lose weight, however, you could find a health care insurance much cheaper and have more options.

The fact is health insurance companies have different policies regarding obesity.  When an applicant for health insurance falls out of the normal weight standards, they may be either denied health insurance coverage or their premiums will be raised.  Many insurance companies may even require an applicant to get a pre-approval physical before they accept the applicant for coverage.  The fact is obesity is costly to the insurance companies and they apply very strict standards for their coverage in relation to the weight of the applicants.

Due to the fact that treating the obese is very costly, the health insurance premiums have skyrocketed over the past few years.  With obesity comes many other diseases such as cardiovascular disease, high blood pressure, and diabetes.  Treatment for these disorders are costly and the insurance companies are paying.  This is the reason for their strict weight standards.  Just one individual who is obese can cost an insurance company thousands of dollars each year.  Many individuals get health insurance coverage from their employers.  Because the insurance premiums have risen so much over the past few years, many employers, especially small businesses, can not afford to offer coverage for their employees.

The fact is when someone is obese, they will generally have health problems and are often having tests done, as well as being on medication.  This, of course, is an expense that could be prevented if the person lost weight.  Research has proven that the obese are inundated with more health problems than thinner people.  However, this does not stop individuals from gaining weight.

More and more people are gaining weight and falling into the category of being obese and this includes children, as well.   According to a recent study conducted by The Thompson Corporation, in 2004, as many as 16 percent of the children in the United States could be diagnosed with obesity.  The healthcare costs for children who were treated for obesity were astronomical.  The cost for those children who were covered by Medicaid were approximately $6,700 annually for each child and those with private insurance paid out approximately $3,700 per obese child.

While obesity is only partly responsible for the rising cost of health insurance, it does place a burden on society, as well as the patients themselves.  However, the continuing rise of health insurance will not end and neither will obesity.   If an obese individual could lose the weight, they would find their health insurance premiums would be much lower and they would have a much easier time gaining access to health insurance coverage.

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