2006-09-06 22:37:59 · 9 answers · asked by wamukavi jr 1 in Business & Finance ➔ Insurance
Gazillion . . . starting with, What type of insurance is it?
2006-09-07 00:00:21 · answer #1 · answered by Anonymous 7 · 0⤊ 0⤋
Health Insurance:
When purchasing health insurance or any insurance for that matter it is about the risk- "you are willing to take". As the policy holder, you must ask yourself some big questions.
1. If I got really sick and ended up in a hospital what amount would I willing to pay? This amount is referred to as "the Max. out of pocket"
2. If I buy a plan, do I want to pre-pay for services or would I prefer to pay only when needed? (HMO plans offer low Copays for services, premiums are higher because the consumer pre-pays for services in advance- Vs., PPO plans where you will either have no deductible or deductible plans with Co-insurance, Vs., HSA plans which are high deductible PPO plans, that offer the consumer the ability to open a account to save money tax free to pay for the deductible * money not used rolls over and stays in the possesion of the owner).
3. Financial Factor: most people purchase health insurance because of the persons net worth, people with high net worth are looking for high lifetime benefits, and very stable companies.
2006-09-07 10:27:18 · answer #2 · answered by Anonymous · 0⤊ 0⤋
The number 1 factor is risk.
In auto insurance, to get the best rates, I want to prove to the insurance company that I will never have an accident, no tree will ever fall on my car, no flood will wash it away and no their will ever steal it or vandalize it.
In life insurance, I want to prove that I will live to age 175.
2006-09-07 09:52:55 · answer #3 · answered by insuranceguytx 5 · 0⤊ 0⤋
What Kind??
Auto = Where you Live/How Much You Drive/Where You Drive/+++
Life = Do You Smoke/Where You Live/Income/+++
House = Age Of House/+++
2006-09-07 05:39:40 · answer #4 · answered by iLL_TeK_NeekZ 4 · 0⤊ 0⤋
Different companies use different factors. I know that is vague but is true. For auto companies use location, driving history, vehicle, age, sex, use of vehicle and some use your credit score
2006-09-07 10:48:23 · answer #5 · answered by mamatohaley+1 4 · 0⤊ 0⤋
What kind of insurance? Health? Car? House? You have to be more specific.
2006-09-07 05:39:39 · answer #6 · answered by Anonymous · 0⤊ 0⤋
age health risk factors
2006-09-07 05:44:48 · answer #7 · answered by james m 1 · 0⤊ 0⤋
Yes, depends on the company
2006-09-07 15:24:56 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Not enough info to answer.
2006-09-07 09:14:12 · answer #9 · answered by deep5223 4 · 0⤊ 0⤋