When you have an insurance policy, the company charges you money in exchange for that coverage. That cost is known as the insurance premium. Depending on thehealth insurance policy, you might pay the premium each month or on a semiannual basis. In some cases, you might be required to pay...
(HealthDay)—Having health insurance is essential, especially for catastrophic situations. But it's important to choose a plan carefully because your costs can go well beyond the monthly premium. Knowing key terms will help you calculate potential expens
The higher the insurance declared value (IDV) of your car, the higher will be the premium of comprehensive car insurance. Hence, when your vehicle gets older, the IDV gradually decreases. In general, thepremiumfor Own Damage Cover is determined as a percentage of IDV. If you want to get ...
Afterwards, the plaintiff submitted the cargo insurance policy and other documents required by the plaintiff to the defendant according to the defendant's request. However, the defendant refused to pay compensation on the grounds that the plaintiff violated the principle of utmost good faith and had ...
All permanent life insurance policies accrue a certain amount of equity called cash value. This amount will vary depending on the type of policy you have (Whole Life, Universal Life, Variable Life), the amount of your monthly premium payments, and the in
Consideration.This is the premium or the future premiums that you have to pay to your insurance company. For insurers, consideration also refers to the money paid out to you should you file aninsurance claim. This means that each party to the contract must provide some value to the relationsh...
If you drive a car in Canada, there’s a good chance that you’ve had to purchase car insurance. And if you’ve ever bought car insurance, you’ve probably wondered how your car insurance premium is calculated. So, what exactly do insurers consider when calculating car insurance pr...
Step 2: Compare types of health insurance plans You’ll encounter some alphabet soup while shopping for the best health insurance plan. The most common types of health insurance policies are HMOs, PPOs, EPOs and POS plans. What you choose will help determine your out-of-pocket costs and whic...
The location of the pop-up, the means of travel, and who’s working it determine what types of additional commercial insurance are needed. “If you’re traveling with your inventory, then you need to purchase an inland marine policy which covers business personal property away from the premise...
Calculate your monthly premium cost. For example, if you purchase 12 months of insurance, divide your lump sum payment by 12 to determine the cost of one month’s insurance premium. For example, if you spend $1,200 for the 12-month policy, your monthly cost is $100. ...