A. Life insurance (life insurance) and health (accident and health insurance).

A. Life insurance (life insurance) and health (accident and health insurance).
Life insurance is aimed at to provide financial support to the family on the death of the insured person. Depending on the contract, the insurance company must be:
provide a certain level of income remaining spouse and / or children and other family members.
to compensate for taxes and other costs associated with the distribution of property among heirs;
pay your past expenses, such as hospital bills and funeral costs;
pay for the education of children;
repay the remaining debt on the purchase of a house or apartment;
ensure that the pension fund;
Life insurance, as you see, can not be reduced to a simple payment of a lump sum to your family in case of death, it also aims to provide a family for quite some time.
Life insurance contract may provide two types of insurance: temporary (term insurance) and permanent (permanent insurance). They both have a large number of options, but the main difference between them lies in the fact that the temporary insurance agreement is concluded for a definite time (year, 5, 10 years, etc.), or until a certain age (eg 70 years) and the family allowance is payable only if death occurred during this period, with constant insurance covered the entire period of his life, and amount of insurance payable upon death, regardless of when it occurred. The contract of temporary insurance can usually be extended beyond its initial term, and it can be replaced by a constant. Please note only that each new extension of the contract will cost more expensive, because the older a person gets, the higher the probability of death.
Choosing the most suitable type of life insurance should be borne in mind also that, for young people annual payments to insurance companies lower in the choice of temporary insurance, the elderly, by contrast, would be cheaper for permanent insurance.
Now let's look at some kinds of temporary coverage, let's see how they differ from each other. They can be divided into three:
Convertibleterm - temporary insurance, which can turn into permanent. Usually, to avoid further medical examination and increase benefits, the transition to a permanent form should be implemented over a period of time before the expiration of the temporary insurance.
Renewableterm - renewable temporary insurance. In this type of insurance after the main contract period may be extended, regardless of health status.
Revertibleterm - another variant of renewable insurance, unlike the previous type is that for the renewal of the insurance contract must meet certain conditions related primarily to health.
At a constant insurance can offer its two main types:
a) Interest Sensitive Whole Life, that is, insurance payments which are not fixed, but depend on several factors.
b) Traditional Whole Life, or traditional insurance, in which the payment and the amount of insurance remain the same the whole period of insurance;
The most popular form of the first type of insurance, universal life insurance (universal life insurance).
When it is selected to a large extent the client will control their finances, within certain limits, can choose the amount of annual payments, even letting some of them in case of need. The company also will distribute the payments into three categories: the first is the accumulation of principal payments in the event of death, the second - in a special account at the bank, which bear interest, and the third - to cover the costs of the company. Thus, the value of annual payments and the amount, which the company must pay in case of death, depend on the bank interest on deposits (interest rates). In any case, the company must pay a minimum percentage of deposits and the minimum amount of principal payments to the heirs after the accident.
All the activities of the company shall be open, it publishes an annual data as to which account and what amounts received during the year.
Regardless of the type of life insurance should not be ignored key recommendations set out below:
A. Each company is required to offer coverage during the testing ("free-look period"), during which you can withdraw from the contract without incurring any loss. By the laws of the State of New York, this period can not be less than 10 and more than 30 days (in case of signing the contract in the mail, without an agent, this period should be 30 days).
Two. When signing the contract, be sure that the oral promise of an insurance agent in line with what is written in the contract. Particular care is necessary to study the contract if the proposed conditions appear favorable implausible (too-good-to-be-true - too good to be true).
Three. It is always best to deal with a company that is licensed in the state.Otherwise, it may be difficult to resolve disputes when they arise.
4. The possibility of group insurance (group life insurance). The price of this insurance is usually lower, especially if the contract is the employer for all employees of the company or organization.
Five. A waiver of any of the insurance contract and its replacement by another (replacement) more often than not bring any benefits. It is advisable to try to avoid it, and in any case carefully and think through the details of such a move before committing to it.
6. Keep an insurance contract should be in a safe place. If the client or family after death lost it, it should be to make a written request to the American Council of Life Insurance (American Council of Life Insurance)
7. Try to avoid frequent payments. One annual payment is always less than twelve monthly.
Eight. Except for one person to whom payment must be made in case of death (beneficiary), the contract must stipulate his understudy (contingent, or secodary beneficiary), who should get the money in case of sudden death first.
9. The main beneficiary of the sum insured (beneficiary) must inform the insurance company your address and to notify it of all its changes. If he does so, then after three years of his entire share of the state authorities to depart, and while he has the right to say later about their rights during this period, he will not be charged interest.
10. No need to hire a lawyer as soon as there are tensions with the company.With most of these problems can be handled yourself.

Three main types of INSURANCE

These include life and health insurance, houses, apartments and personal property, as well as a car. There are other very useful types of insurance, but let's start it withthese, the most necessary and most fully reveal the essence of the entire U.S.insurance system.

introduction

To date, the number of insurance companies and their services in the U.S. is huge, the biggest concern only those firms whose capital exceeds one billion. Here is alist of largest companies.
Prudential Ins. Co. of America
Equitable Life Assurance Soc. US
Teachers Ins. & Annuity Assoc. America
Metropolitan Life Ins. Co.
Aetna Life Ins. Co.
New York Life Ins. Co.
John Hancock Mutural Life Ins. Co.
Northwestern Mutural Life Ins. Co.
A man who had just arrived in the country, it will get used to at first not easy. Eventhe division into mandatory (such as car insurance) and voluntary insurance is rather conventional. Try, for example, dispense with the formal entirely voluntaryhealth insurance. After all, even a person with a U.S. average income is sometimesimpossible to pay the cost of treatment, especially in the case of serious illness.
Let's try to understand the basics of American insurance policy, let's talk about the basic types of insurance.

The package of insurance services for auto

After all, the cheapest insurance package is often able to cover only a portion of the damage resulting from accident damage - the rest of the driver will have to reimburse out of pocket. The minimum benefit package does not cover many items of expenditure in road incident guilty parties, in particular the cost of parking and towing of vehicles affected, payment of court costs, compensation for loss of profits from the downtime and time spent on the design-time accidents and the like.

It is noteworthy that in the U.S. insurance companies offer additional services to people who are in an accident. For example in Florida, a man whose car was dented on the repair of his car (about one week), the insurance company issued another vehicle of the same class (pickup). This you can see a short video of "our" people in America.







Keep in mind!

Given Americans' love for all kinds of trials, often the costs of compensation by the guilty party reach six-figure sums. If the amount exceeds the amount of lawsuit insurance cover, due to the culprit accident instantly becomes available to the insurance company and a bailiff.

Therefore, the majority of Americans, particularly those with their own business, appreciate your time and money, tend to best protect themselves from such surprises by giving all possible costs for insurers. This to them is to take an example!

In the United States, there are many insurance companies that offer a choice of many different insurance plans. How much is the average cost?

For example, in New York, 40-year-old married man with a middle class car 2007 release, nochuyuschuyu in the garage safe "sleeping" area, where a day is necessary in business and family to drive about 20 miles, will pay $ 2,500 a yearas an insurance premium. For comparison - in Washington this amount - about $ 1,000.

A number of large insurance companies in general may refuse to insure drivers who have fallen in the "high risk". It is also worth bearing in mind.

We suggest you also read additional information about this topic: what car insurance

Before talking about auto insurance, we think that it is very interesting for you to display information about how much cheaper to buy a car in the USA. Thus, the prices of cars in America - in comparison with similar prices in Russia.



Auto Insurance in the United States. Terms and prices. Discover our America!

Auto insurance in different states

However, the conditions of insurance, in particular, the minimum amount of insurance coverage and the value of insurance premiums, vary widely from state to state. In one state the owner of the car is not even able to register without mandatory insurance, the other - you have no one and does not require an insurance policy to present to the first incident (accident or offense).

Rates for auto insurance in the United States beyond the control of the state and often are determined by the insurance companies. The amount of annual fee calculated on a complex scheme of points and bonuses, taking into account the cost of the car and the driver's insurance history for the past year.

The main parameters of insurance coverage that provides insurance in the U.S., are determined by three major figures:

magnitude of the maximum compensation for physical and moral damages for each victim
amount paid to all those affected by the accident
amount in respect of pecuniary damage.
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Depending on the state minimum amount of insurance compensation may vary from 10/20/5 (this "fractional scheme" entry-type car insurance, we have described in our previous blog), or $ 10,000 / $ 20,000 / $ 5,000 for Mississippi to 50/100/25 in the state Maine.

In California, the car owner must have a policy with a minimum liability insurance in case of bodily injury and property damage at the rate of $ 15,000 if one person injured, $ 30,000 if more than one person injured and $ 5,000 to cover property damage.

In the State of New York and the District of Columbia, where the U.S. capital, the auto settings are as follows: 25/50/10, as, for example, in Alaska: - 50/100/25.

But in almost every state, insurers will offer you in addition to the minimum and mandatory insurance package to buy "voluntary" auto insurance policy.

Auto Insurance in the United States. Terms and prices

On average, according to statistics, the U.S. stealing about 1.2 million vehicles a year, and this figure is gradually reduced.

Hijackers prefer to abduct old machines of popular brands, which can be used as a source of spare parts and are not equipped with satellite tracking systems and advanced anti-theft systems. The figure, of course, much ...

Today, compulsory auto insurance liability operates in 45 U.S. states. In the other five states in the presence of state law requires the driver to the presence of at least the minimum insurance package. It is worth it, depending on the driver's place of residence from $ 500 to $ 1,000 per year.

U.S. Insurance Market

The insurance tradition in the United States has one hundred and fifty years, it seems that everything is insured. As the American Institute of Insurance Information (Insurance Information Institute), a leader in the insurance market is the U.S. auto insurance by individuals, in terms of insurance premiums by almost 4 times faster than homeowners insurance.
The total volume of premiums collected in 2002 in the U.S. totaled about $ 1 trillion, but the U.S. share in the global market is steadily decreasing due to more rapid development of insurance markets in Asia, Latin America and Europe. The share of the U.S. life insurance somewhat inferior to Japan (29.7 and 31.4% global market share, respectively), for other types of insurance, primarily property and casualty, took 1st place in the world (46% of the world market).
Insurance in the United States is divided into two categories: life insurance and other insurance. The largest insurer in the U.S. is a company State Farm Group, which occupies 18% of their units auto insurance market and 23% of life insurance, and the market in general - 12%. This figure is twice the market share of the company «Allstate Insurance Group», which occupies the 2nd place. The share of the company «American Insurance Group» (AIG) has about 4% of the market other types of insurance. Total U.S. there are more than five thousand insurance companies.
According to U.S. insurers, most types of insurance, bring a stable income.Overall, however, the market situation is not so good, although in recent years has changed for the better insurers. According to the latest data, was relatively successful in 2002 According to the results of the net income of all insurance companies in the U.S. (after tax) totaled $ 2.9 billion, while the previous year, insurers lost $ 7 billion Although the $ 2.9 billion - very little for the U.S. market, because in 1998 the insurance companies have earned more than $ 30 billion
Occur in the U.S. market and qualitative changes associated naturally with the development progress. Insurance policies have been sold almost exclusively to the agents - captive, ie represent one insurance company or independent, that is,representing several companies. But since the late 90s. the last century, insurers are increasingly using communications and other sales channels: the Internet, "insurance malls," direct sales in professional organizations and workplaces.However, Internet sales make up a very small part of all policies sold.
As the popularity of different types of insurance, the situation in the U.S. is fundamentally different from Russia. The organization of independent insurance agents and brokers of America {The Independent Insurance Agents & Brokers of America) said that in 2000 insurance policies against accidents yielded 53% of the revenue agencies. Commercial insurance (property companies and other risks for legal persons) provided 39% of income, life and health insurance - about 5, and insurance against job loss - about 3%.
Characteristically, in the U.S. market is growing concentration of insurers, though, of course, far from being just before the appearance of monopolies, but even any noticeable oligopoly. As the data «Insurance Services Office Inc.», Index of market concentration (by the method of "Herfindahl") increased from 229 in 1980 to 312 in 2002, U.S. Department of Justice classifies any market with the index below 1,000 as unconcentrated. The level of monopoly is achieved at around 10,000.
The state social security system in the U.S. include two forms of social insurance (due to the tax on social security) and public assistance (through the budget).Social insurance is carried by the contributions of workers and employers and includes pension insurance and unemployment insurance. Superannuation provides retirement benefits upon reaching retirement age (in 2002 it planned to increase from 65 to 67 years), payments for loss of a breadwinner (if the deceased was entitled to state pension), disability benefits to persons under 65 years of age. The system of social insurance are included and those not working for hire (doctors, lawyers, etc.), paying total contributions as employees and as employers.
Unemployment insurance is regulated by the laws of the state and financed by a tax on employers in a certain percentage of the earnings of the employee.