All to often we speak with insurances consumers that don't fully understand the industry or the products that are available. Consumers understand deductibles and generally co insurance percentages if they have any and the rest is somewhat of a mystery.
To educate and give you non biased information on Life, Car, and Homeowners Insurance. Hopefully, we will shed some light on some questions you may have and give you information you didn't even know you needed.
It's very important to understand what you're buying or what kind of policy you already have. It's pretty regular to see people who couldn't even tell you what deductible they have on their current policy. A lot of consumers purchase an insurance policy and when it comes in the mail, it gets filed away and never even looked at.
It's very important you review all insurance policies for accuracy. Accuracy on your information you gave the agent and information you were given at the time of purchase. Make sure the policy is what you remember buying. We've heard of cases where the policy arrived totally different from what the individual thought they were buying. That's why it's good to check these things out.
We sincerely thank you for stopping by and hope you find information that will help you when you need it.
Home Insurance
Home insurance breaks down into two distinct types: buildings insurance and contents insurance. You can buy a single policy that covers you for both, but it’s best to treat them as two separate policies: the cheapest insurer on the house might not be the cheapest for the contents.
Car Insurance
Car Insurance is which protects the insured against losses involving the use of automobiles. Various coverages may be bought depending on the desires of the insured. Such coverages include the liability coverages of bodily injury, property damage, and medical payments, and the physical damage coverages of collision and comprehensive.
Life Insurance
Life insurance is bought by someone in order to protect his or her family in case of death. This may be mainly bought by people who are the sole breadwinners of the family: without that money in the event of that person's death, the family couldn't survive. However, not many people truly know how life insurance policies work. Many people don't believe they can afford any life insurance and a few see it as an unneeded cost.
Travel Insurance
Travel insurance covers a number of possible mishaps that can occur on the road. Peace of mind comes from knowing that if one experiences terrorism, a need for medical attention, emergency evacuation, or bankruptcy of a trip organizer, there will be recourse. Travel should be about wonder and delight, not anxiety and lost funds.
Health Insurance
It's a fact of life — you need health insurance — and the time to get it is before you have an accident, suffer a serious illness, or discover you're pregnant. Insurance doesn't cover health care for medical problems or conditions that start before the moment you have your policy. Finding adequate coverage may seem overwhelming, but knowing the basics can help make your search less stressful.
Friday, June 25, 2010
Insurance in Japan
Home Insurance - Standard Policies
Property insurance protects you against loss or damage to personal property, which includes homes and home contents. Standard homeowner insurance policies provide coverage for liability claims, medical payments to third parties, legal costs, as well as for damage to your home or contents caused by theft, fire, storms, smoke, frozen pipes, and ice or snow. Standard policies are typically about ¥20,000 – ¥40,000 for two years.
Earthquake Coverage
Since Japan is one of the most earthquake-prone countries, earthquake coverage is not included in standard insurance policies and must be obtained separately. Unless you add earthquake coverage to your policy, any loss or damage due to earthquake, or fire as a result of earthquake, will not be covered. Typical policies for earthquake coverage are usually about ¥10,000 – ¥20,000 for two years.
As a tenant – by law you are liable for all damages to your rented home or apartment caused by accidental explosion or fire, (originating from your apartment or home).
Car Insurance Tokyo
Automobile Liability Insurance
(Jibaiseki Hoken) – a compulsory type of auto insurance that protects against claims for legal liability arising out of auto accidents, including death or injury. This type of policy provides legal defense and pays sums necessary to settle claims against the insured person. This kind of standard compulsory insurance is paid together with a “Mandatory Inspection Fee”, (Shakken), when you first buy a car and every two years thereafter. This type of insurance is typically about ¥20,000 – ¥40,000 for two years. Note: When buying a new car the insurance and “Mandatory Inspection Fee” are covered for the first 3 years and is then renewed every two years thereafter.
Voluntary Automobile Insurance
(Ninni Hoken) – is an optional insurance policy that includes medical coverage, (for injury caused by accident), and collision protection, (which covers necessary repairs).
In addition, this type of insurance covers a person’s car against theft or any type of non-accidental damage such as windshield cracks caused by rocks. This type of coverage is more expensive and is usually about ¥100,000 – ¥200,000 for per year.
Health Insurance
Japan’s health insurance system is designed to make sure that everyone can afford medical treatment in the event of sickness or injury. There are basically two types of compulsory medical securities in Japan. Everyone living in Japan must subscribe to the “Social Insurance System”, (provided for full-time workers in companies), or the “National Health Insurance System”, (standard insurance system in Japan).
Additionally, many expats in Japan will purchase (or will be provided with by their company) private medical insurance. Some medical service providers (particularly English speaking services designed for the expat community) are not covered under the Japanese medical insurance system. These providers are usually very expensive so if you anticipate using their services it is advisable to have private medical insurance.
Social Insurance System
This is a compulsory health insurance plan provided for full-time workers in companies. You and your employer will share the cost of insurance premiums and your payment will be automatically deducted from your monthly salary. At the time of payment, at the hospital or clinic, you will have to pay about 20% of the total cost. This is separate to private medical insurance.
National Health Insurance
The objective of National Health Insurance is to use the funds obtained from premium payments to reduce the medical bills associated with visits to doctors. Anyone who does not have Social Insurance provided by their company and has had a valid visa in Japan for a period greater than one year must obtain National Health Insurance.
National Health Insurance covers 70% of medical costs, while the patient pays the remaining 30%. Your insurance premium is based on your year’s income, so make sure to file your residents tax declaration even if you do not have any income to declare.
Health Insurance Certificate
Soon after you register for Health Insurance you will be issued a Health Insurance Certificate, which you will need as proof of coverage. You should carry this certificate with you, (especially when you travel in Japan), for you will need to present your Health Insurance Certificate when you require medical attention. Your Health Insurance Certificate should never be lent to others
What is Covered and not Covered
•Normal pregnancies and childbirth; physical examinations; vaccinations; work-related injuries and illnesses covered by worker’s compensation are not covered.
•If you become suddenly ill while traveling without your health insurance certificate you must pay 100% of your bill.
•You may apply for a 70% reimbursement by presenting the receipt, certificates of medical remuneration, your insurance certificate, the savings passbook of the head of household, and your personal seal at the National Health Insurance Section at City Hall, or at your nearest municipal government office.
•Medical expenses exceeding a specified amount for one month are not covered, but you may be reimbursed for the
excess amount.
•If the insured gives birth, she shall receive an allowance of ¥300,000.
•If the insured dies, his or her survivors shall receive ¥40,000 for funeral expenses.
•For more information or to apply for Health Insurance contact the National Health Insurance Section (usually on the first floor), at your local City Ha
Property insurance protects you against loss or damage to personal property, which includes homes and home contents. Standard homeowner insurance policies provide coverage for liability claims, medical payments to third parties, legal costs, as well as for damage to your home or contents caused by theft, fire, storms, smoke, frozen pipes, and ice or snow. Standard policies are typically about ¥20,000 – ¥40,000 for two years.
Earthquake Coverage
Since Japan is one of the most earthquake-prone countries, earthquake coverage is not included in standard insurance policies and must be obtained separately. Unless you add earthquake coverage to your policy, any loss or damage due to earthquake, or fire as a result of earthquake, will not be covered. Typical policies for earthquake coverage are usually about ¥10,000 – ¥20,000 for two years.
As a tenant – by law you are liable for all damages to your rented home or apartment caused by accidental explosion or fire, (originating from your apartment or home).
Car Insurance Tokyo
Automobile Liability Insurance
(Jibaiseki Hoken) – a compulsory type of auto insurance that protects against claims for legal liability arising out of auto accidents, including death or injury. This type of policy provides legal defense and pays sums necessary to settle claims against the insured person. This kind of standard compulsory insurance is paid together with a “Mandatory Inspection Fee”, (Shakken), when you first buy a car and every two years thereafter. This type of insurance is typically about ¥20,000 – ¥40,000 for two years. Note: When buying a new car the insurance and “Mandatory Inspection Fee” are covered for the first 3 years and is then renewed every two years thereafter.
Voluntary Automobile Insurance
(Ninni Hoken) – is an optional insurance policy that includes medical coverage, (for injury caused by accident), and collision protection, (which covers necessary repairs).
In addition, this type of insurance covers a person’s car against theft or any type of non-accidental damage such as windshield cracks caused by rocks. This type of coverage is more expensive and is usually about ¥100,000 – ¥200,000 for per year.
Health Insurance
Japan’s health insurance system is designed to make sure that everyone can afford medical treatment in the event of sickness or injury. There are basically two types of compulsory medical securities in Japan. Everyone living in Japan must subscribe to the “Social Insurance System”, (provided for full-time workers in companies), or the “National Health Insurance System”, (standard insurance system in Japan).
Additionally, many expats in Japan will purchase (or will be provided with by their company) private medical insurance. Some medical service providers (particularly English speaking services designed for the expat community) are not covered under the Japanese medical insurance system. These providers are usually very expensive so if you anticipate using their services it is advisable to have private medical insurance.
Social Insurance System
This is a compulsory health insurance plan provided for full-time workers in companies. You and your employer will share the cost of insurance premiums and your payment will be automatically deducted from your monthly salary. At the time of payment, at the hospital or clinic, you will have to pay about 20% of the total cost. This is separate to private medical insurance.
National Health Insurance
The objective of National Health Insurance is to use the funds obtained from premium payments to reduce the medical bills associated with visits to doctors. Anyone who does not have Social Insurance provided by their company and has had a valid visa in Japan for a period greater than one year must obtain National Health Insurance.
National Health Insurance covers 70% of medical costs, while the patient pays the remaining 30%. Your insurance premium is based on your year’s income, so make sure to file your residents tax declaration even if you do not have any income to declare.
Health Insurance Certificate
Soon after you register for Health Insurance you will be issued a Health Insurance Certificate, which you will need as proof of coverage. You should carry this certificate with you, (especially when you travel in Japan), for you will need to present your Health Insurance Certificate when you require medical attention. Your Health Insurance Certificate should never be lent to others
What is Covered and not Covered
•Normal pregnancies and childbirth; physical examinations; vaccinations; work-related injuries and illnesses covered by worker’s compensation are not covered.
•If you become suddenly ill while traveling without your health insurance certificate you must pay 100% of your bill.
•You may apply for a 70% reimbursement by presenting the receipt, certificates of medical remuneration, your insurance certificate, the savings passbook of the head of household, and your personal seal at the National Health Insurance Section at City Hall, or at your nearest municipal government office.
•Medical expenses exceeding a specified amount for one month are not covered, but you may be reimbursed for the
excess amount.
•If the insured gives birth, she shall receive an allowance of ¥300,000.
•If the insured dies, his or her survivors shall receive ¥40,000 for funeral expenses.
•For more information or to apply for Health Insurance contact the National Health Insurance Section (usually on the first floor), at your local City Ha
Insurance in Germany
Life Insurance Companies In Germany
Leading Life Insurance Companies in Germany are as follows:
Allianz Leben Insurance
Aachenmunchener Leb Insurance
DT. Herold Leben Insurance
Victoria Leben Insurance
Debeka Leben Insurance
AXA Leben Insurance
Non-Life Insurance Companies In Germany
Leading Non-Life Insurance Companies in Germany are as follows:
Allianz Vers. Insurance
AXA Vers. Insurance
R+V Allgemeine Vers. Insurance
Zurich Vers. AG
Victoria Vers. Insurance
Wurtt. Vers Insurance
LVM Sach Insurance
Health insurance in Germany
Statutory health insurance (Krankenversicherung) safeguards you and your family in case of illness:
• It pays for necessary medical treatment. The only exceptions are benefits you claim after an occupational accident or because of an occupational illness. In these cases you are covered by statutory accident insurance.
• It pays sickness benefit if your employer does not continue to pay your wage or salary while you are unable to work.
Until the end of 1995, which health insurance scheme you were in depended on your profession or who you worked for. As of 1 January 1996, anyone in a local, company, guild or other statutory health insurance fund is free to choose which fund they wish to be insured with (company and guild funds can only be chosen if they have changed their statutes to accept outsiders). Special conditions apply for entry into certain statutory health insurance funds like the Miners Social Security Fund (Knappschaft) or the Maritime Health Insurance Fund (See-Krankenkasse). It often pays to compare their rates.
German insurances
There are many different types of insurance on offer in Germany, which range in importance. Some, such as health insurance, will usually be arranged through your employer.
Health Insurance
Private and Public Health Insurance
See main article: Health insurance
European Health Insurance Card
The European Health Insurance Card (EHIC) is the replacement of the E111 form and offers European Union citizens emergency treatment in other EU countries. You must apply for the card from your home country, and should carry it with you when you travel abroad. The EHIC is only valid for medical treatment that becomes necessary during short trips abroad from your home country. It is not valid for extended stays in a foreign country. If you have public or private health insurance in Germany, your regular health insurance card usually doubles as your EHIC card, although with private insurance, cover in Europe outside Germany depends on your tariff. Contact your health-care provider in the event of any doubt.
See also: Information from the British Department of Health
Dental Insurance
Employers sometimes offer dental insurance as part of the company benefits package. Employees must pay part of the dental bill but the amount might be reduced (sometimes by up to 80%) if you can produce proof of 10 years of continuous visits to the dentist! Note the word "continuous". Skip a year and you might lose out on the reduction. The insurance companies can be really quite picky.
See the related chat forum discussion: Dental insurance and the 10 year rule.
Personal Liability Insurance
In German this is called "Privathaftpflichtversicherung". It is insurance in case you (for example) hit someone whilst riding your bike or knock someone down the stairs. Having such insurance is not a legal requirement in Germany but most Germans do have it and it is strongly recommended for expats as well, especially as it can cost as little as €40 per annum.
See the related chat forum discussion: Personal Liability Insurance.
Legal Insurance
Legal insurance will cover your legal fees in many situations, regardless of whether you are a defendant or a plaintiff in a case. Legal situations that such insurance would normally cover the costs for include disputes between landlords and tenants, problems with companies that fail to deliver an expected service, and in the event of an accident in which you or the second party incurred costs.
See the chat forum discussion: Legal Insurance - is it worth the money?
Household Insurance
Insurance against fire, flood etc is normally the responsibility of the owner of the property, not the renter. This form of household insurance is called Hausratversicherung and you should generally insure for a value of €650 per square metre. This insurance will not cover you for any damage you cause to your neighbours' property, so homeowners should have Liability Insurance (Haftpflichtversicherung, see above) as well as Hausratversicherung. Expect to pay €150-200 per annum for both. Renters can take out Contents Insurance to cover their belongings in the event of fire, theft etc.
See the related chat forum discussion: Homeowner's insurance, Recommended agents and companies
Life Insurance
As in any other country, life insurance is particularly important if you have a family. There are two common types - risk life insurance (Risikolebensversicherung) and capital life insurance (Kapitallebensversicherung). The former is a simple insurance against the risk, the latter combines this with a capital savings plan, which is paid out to the policy holder at a given date, typically the statutory retirement age.
See search results for "Life Insurance".
Travel Insurance
Your health insurance provider will usually cover you for any medical treatment that you may require while abroad, but you should always confirm this with your provider before travelling, especially if you are travelling to North America, where different arrangements often apply. Insurance coverage for delayed flights, lost baggage, theft etc will need to be taken out separately.
See the chat forum discussion: travel insurance recommendations
Car Insurance
Car insurance usually insures the car rather than the owner, which means that anyone with a valid drivers license can legally drive the car, providing they meet any other relevant criteria, such as age. As is the case anywhere else, prices will vary substantially depending on the type of car, the age of the driver and the place of residence, among other considerations.
See chat forum search results for "car insurance".
Bicycle Insurance
Bicycles are normally covered by a household insurance (see above), but there may be certain exclusions or a surcharge for particularly expensive bikes. See the related chat forum discussion: Bicycle insurance against theft, etc., General advice and recommended providers
Pet Insurance
It is also possible to purchase insurance for your pet, to cover medical bills and the like. See the related chat forum discussion: Health insurance for pets.
Insurance Obligations for Freelancers
Freelancers are not obliged to pay any kind of insurance - not even health insurance. Freelancers must pay income, solidarity, and value added taxes, but not insurances. Of course, most freelancers do have health insurance cover, as well as other insurances. Depending on the nature of the freelance work, legal insurance may be particularly worthwhile.
German terms relating to "Insurance"
•Krankenversicherung - Health Insurance
•Pflegeversicherung - Nursing Insurance (usually bundled with heath insurance)
•Rentenversicherung - Retirement Insurance/Scheme, see: Pensions in Germany
•Arbeitslosenversicherung - Unemployment Insurance
•Privathaftpflichtversicherung - Personal Liability Insurance
•Rechtschutzversicherung - Legal Insurance
•Vorversicherungsnachweis - a certificate showing that you're insured
•Krankenkasse - a health insurance company
•Gesetzliche Krankenversicherung - legally-required public health insurance
Insurance Companies
There are lots of insurance companies. The largest companies include:
•AOK - Allgemeine Orts Krankenkasse
•ADAC - Automobile Deutschland, they offer insurance too
•ERV - same as reiseversicherung.de
•SDK - SD Krankenkasse
•Huk Coburg - frequently good value
Advertised insurance agents
Toytown Germany has agreements with three insurance agents in Germany. All of them are able to offer advice on a wide number of different types of insurance from a wide number of different insurance companies. They speak good English and are familiar with the problems often encountered by foreigners in Germany.
•Derek Loehr at Optimum Capital - free advice on all insurances, investments and pension plans
•Martin Brown at First Financial Direct
•Mike Woodiwiss at Spectrum International
•Patrick Ott at C R & Cie Insurance and Finance
•Holger Kretzschmar at Kretzschmar Insurance
Leading Life Insurance Companies in Germany are as follows:
Allianz Leben Insurance
Aachenmunchener Leb Insurance
DT. Herold Leben Insurance
Victoria Leben Insurance
Debeka Leben Insurance
AXA Leben Insurance
Non-Life Insurance Companies In Germany
Leading Non-Life Insurance Companies in Germany are as follows:
Allianz Vers. Insurance
AXA Vers. Insurance
R+V Allgemeine Vers. Insurance
Zurich Vers. AG
Victoria Vers. Insurance
Wurtt. Vers Insurance
LVM Sach Insurance
Health insurance in Germany
Statutory health insurance (Krankenversicherung) safeguards you and your family in case of illness:
• It pays for necessary medical treatment. The only exceptions are benefits you claim after an occupational accident or because of an occupational illness. In these cases you are covered by statutory accident insurance.
• It pays sickness benefit if your employer does not continue to pay your wage or salary while you are unable to work.
Until the end of 1995, which health insurance scheme you were in depended on your profession or who you worked for. As of 1 January 1996, anyone in a local, company, guild or other statutory health insurance fund is free to choose which fund they wish to be insured with (company and guild funds can only be chosen if they have changed their statutes to accept outsiders). Special conditions apply for entry into certain statutory health insurance funds like the Miners Social Security Fund (Knappschaft) or the Maritime Health Insurance Fund (See-Krankenkasse). It often pays to compare their rates.
German insurances
There are many different types of insurance on offer in Germany, which range in importance. Some, such as health insurance, will usually be arranged through your employer.
Health Insurance
Private and Public Health Insurance
See main article: Health insurance
European Health Insurance Card
The European Health Insurance Card (EHIC) is the replacement of the E111 form and offers European Union citizens emergency treatment in other EU countries. You must apply for the card from your home country, and should carry it with you when you travel abroad. The EHIC is only valid for medical treatment that becomes necessary during short trips abroad from your home country. It is not valid for extended stays in a foreign country. If you have public or private health insurance in Germany, your regular health insurance card usually doubles as your EHIC card, although with private insurance, cover in Europe outside Germany depends on your tariff. Contact your health-care provider in the event of any doubt.
See also: Information from the British Department of Health
Dental Insurance
Employers sometimes offer dental insurance as part of the company benefits package. Employees must pay part of the dental bill but the amount might be reduced (sometimes by up to 80%) if you can produce proof of 10 years of continuous visits to the dentist! Note the word "continuous". Skip a year and you might lose out on the reduction. The insurance companies can be really quite picky.
See the related chat forum discussion: Dental insurance and the 10 year rule.
Personal Liability Insurance
In German this is called "Privathaftpflichtversicherung". It is insurance in case you (for example) hit someone whilst riding your bike or knock someone down the stairs. Having such insurance is not a legal requirement in Germany but most Germans do have it and it is strongly recommended for expats as well, especially as it can cost as little as €40 per annum.
See the related chat forum discussion: Personal Liability Insurance.
Legal Insurance
Legal insurance will cover your legal fees in many situations, regardless of whether you are a defendant or a plaintiff in a case. Legal situations that such insurance would normally cover the costs for include disputes between landlords and tenants, problems with companies that fail to deliver an expected service, and in the event of an accident in which you or the second party incurred costs.
See the chat forum discussion: Legal Insurance - is it worth the money?
Household Insurance
Insurance against fire, flood etc is normally the responsibility of the owner of the property, not the renter. This form of household insurance is called Hausratversicherung and you should generally insure for a value of €650 per square metre. This insurance will not cover you for any damage you cause to your neighbours' property, so homeowners should have Liability Insurance (Haftpflichtversicherung, see above) as well as Hausratversicherung. Expect to pay €150-200 per annum for both. Renters can take out Contents Insurance to cover their belongings in the event of fire, theft etc.
See the related chat forum discussion: Homeowner's insurance, Recommended agents and companies
Life Insurance
As in any other country, life insurance is particularly important if you have a family. There are two common types - risk life insurance (Risikolebensversicherung) and capital life insurance (Kapitallebensversicherung). The former is a simple insurance against the risk, the latter combines this with a capital savings plan, which is paid out to the policy holder at a given date, typically the statutory retirement age.
See search results for "Life Insurance".
Travel Insurance
Your health insurance provider will usually cover you for any medical treatment that you may require while abroad, but you should always confirm this with your provider before travelling, especially if you are travelling to North America, where different arrangements often apply. Insurance coverage for delayed flights, lost baggage, theft etc will need to be taken out separately.
See the chat forum discussion: travel insurance recommendations
Car Insurance
Car insurance usually insures the car rather than the owner, which means that anyone with a valid drivers license can legally drive the car, providing they meet any other relevant criteria, such as age. As is the case anywhere else, prices will vary substantially depending on the type of car, the age of the driver and the place of residence, among other considerations.
See chat forum search results for "car insurance".
Bicycle Insurance
Bicycles are normally covered by a household insurance (see above), but there may be certain exclusions or a surcharge for particularly expensive bikes. See the related chat forum discussion: Bicycle insurance against theft, etc., General advice and recommended providers
Pet Insurance
It is also possible to purchase insurance for your pet, to cover medical bills and the like. See the related chat forum discussion: Health insurance for pets.
Insurance Obligations for Freelancers
Freelancers are not obliged to pay any kind of insurance - not even health insurance. Freelancers must pay income, solidarity, and value added taxes, but not insurances. Of course, most freelancers do have health insurance cover, as well as other insurances. Depending on the nature of the freelance work, legal insurance may be particularly worthwhile.
German terms relating to "Insurance"
•Krankenversicherung - Health Insurance
•Pflegeversicherung - Nursing Insurance (usually bundled with heath insurance)
•Rentenversicherung - Retirement Insurance/Scheme, see: Pensions in Germany
•Arbeitslosenversicherung - Unemployment Insurance
•Privathaftpflichtversicherung - Personal Liability Insurance
•Rechtschutzversicherung - Legal Insurance
•Vorversicherungsnachweis - a certificate showing that you're insured
•Krankenkasse - a health insurance company
•Gesetzliche Krankenversicherung - legally-required public health insurance
Insurance Companies
There are lots of insurance companies. The largest companies include:
•AOK - Allgemeine Orts Krankenkasse
•ADAC - Automobile Deutschland, they offer insurance too
•ERV - same as reiseversicherung.de
•SDK - SD Krankenkasse
•Huk Coburg - frequently good value
Advertised insurance agents
Toytown Germany has agreements with three insurance agents in Germany. All of them are able to offer advice on a wide number of different types of insurance from a wide number of different insurance companies. They speak good English and are familiar with the problems often encountered by foreigners in Germany.
•Derek Loehr at Optimum Capital - free advice on all insurances, investments and pension plans
•Martin Brown at First Financial Direct
•Mike Woodiwiss at Spectrum International
•Patrick Ott at C R & Cie Insurance and Finance
•Holger Kretzschmar at Kretzschmar Insurance
Thursday, June 24, 2010
An Introduction to Insurance in France
There are many types of insurance in France, some of which may be familiar but others not.
* Civil liability insurance: called responsabilité civile propriétaire it is a third party compulsory insurance that covers any accidental damage you, as a private person, cause to others or their property. Most often this is included in a home insurance policy but do check.
* House Insurance: for information on how to insure your house in France if it is your main place of residence see House Insurance in France
* Holiday Home: for information on ensuring your covered for long abscences and letting out see French holiday home insurance
* Car insurance: whether you own a car in France or bring your car over, what you need to know can be found in French car insurance
* School insurance: this is compulsory for children going to a French school. See School Insurance in France
* Private health insurance: it is now a must for many new arrivals to France. To find out if you need it see French Healthcare changes.
We also have information on private health insurance in France
* Life Insurance: if you want to take out a policy, make sure you are asking for the right one - French life insurance
* Credit Card insurance: It is advisable to insure your carte bleue – because not only will you have to pay for the replacement card if it is stolen, French banks DO NOT replace money stolen from your account by thieves, identity scams or any other criminal activity unless the card is insured.
You can insure your card at the bank where it is issued.
When something goes wrong:
With all policies, you must report a theft to the police within 24 hours of it occuring.
The police will give you a form called a déclaration de vol – which will detail what you have lost.
You must contact your insurer within two working days and send them the receipt of the police déclaration by registered post (recommandé) that will give you a receipt of delivery (avis de réception). It is also best to telephone the insurere direct and inform them of what has occurred.
Once you have drawn up a lost of stolen goods send it, again by registered post, to the insurer.
In the case of a credit card you must also report a theft to the bank.
Cancelling your insurance
The process of cancelling a policy in France is very formal. You cannot let it lapse or cancel at the last minute with a phone call. Instead you must send your insurance company a formal letter informing them that you are cancelling your policy. This must be done at least two months before the renewal date and you need to send the letter by registered post (recommandé). If you do not do this you are legally compelled to pay for the following year.
* Civil liability insurance: called responsabilité civile propriétaire it is a third party compulsory insurance that covers any accidental damage you, as a private person, cause to others or their property. Most often this is included in a home insurance policy but do check.
* House Insurance: for information on how to insure your house in France if it is your main place of residence see House Insurance in France
* Holiday Home: for information on ensuring your covered for long abscences and letting out see French holiday home insurance
* Car insurance: whether you own a car in France or bring your car over, what you need to know can be found in French car insurance
* School insurance: this is compulsory for children going to a French school. See School Insurance in France
* Private health insurance: it is now a must for many new arrivals to France. To find out if you need it see French Healthcare changes.
We also have information on private health insurance in France
* Life Insurance: if you want to take out a policy, make sure you are asking for the right one - French life insurance
* Credit Card insurance: It is advisable to insure your carte bleue – because not only will you have to pay for the replacement card if it is stolen, French banks DO NOT replace money stolen from your account by thieves, identity scams or any other criminal activity unless the card is insured.
You can insure your card at the bank where it is issued.
When something goes wrong:
With all policies, you must report a theft to the police within 24 hours of it occuring.
The police will give you a form called a déclaration de vol – which will detail what you have lost.
You must contact your insurer within two working days and send them the receipt of the police déclaration by registered post (recommandé) that will give you a receipt of delivery (avis de réception). It is also best to telephone the insurere direct and inform them of what has occurred.
Once you have drawn up a lost of stolen goods send it, again by registered post, to the insurer.
In the case of a credit card you must also report a theft to the bank.
Cancelling your insurance
The process of cancelling a policy in France is very formal. You cannot let it lapse or cancel at the last minute with a phone call. Instead you must send your insurance company a formal letter informing them that you are cancelling your policy. This must be done at least two months before the renewal date and you need to send the letter by registered post (recommandé). If you do not do this you are legally compelled to pay for the following year.
Types of Insurance in US
Insurance is something that almost all of us will need sometime, and it is worth understanding it before buying it.
Various types of insurance include vehicle insurance, which includes auto, motorcycle, and boat insurance, health insurance, life insurance, home insurance, travel insurance, personal property insurance, keyman insurance, dental insurance, rental insurance, and more.
Often, insurance is required - especially in the cases of motor insurance. Other times, it is a safeguard.
Insurance is a form of risk-management which spreads risk of many people in exchange for small payments from each. Specifically, insurance transfers some type of risk (accident, theft, natural disaster, illness, etc) from one person or group to a more financially-sound entity in exchange for a payment (also known as an insurance premium). Premiums are often annual or monthly, but depending on the type of insurance they can be at other intervals.
For example, a consumer can pay a certain amount to an insurer such as Motley Fool each year to insure that person's car. This sum represents the insurance company's assessment of the likelihood that the car will be damaged or wrecked. These data are normally taken from historical figures relating to the age, sex, profession, driving record, and accident history of the insured, as well as statistics concerning make and model of the car and its accident record, as well as the engine size, number of passengers, and even color of the vehicle.
Statistically, if the make and model of the vehicle in question, and/or its driver have been in numerous accidents, the insurance company will charge a higher premium in order to hedge expected losses. As the risk increases, so too do the premiums. In fact, sometimes, insurance companies will not even insure certain people and/or vehicles as the chance of them having to make a payout (in the event of an accident) will be almost guaranteed.
Types of Insurance
1.Motor insurance
This includes automobile, truck, motorcycle, aircraft, boat, or any other form of motorized transportation. It is perhaps the most common type of insurance, and is required by law in many countries.
Motor insurance covers the insured party against financial loss that he may incur to repair his vehicle or a third party’s in the event of an accident. In return for annual or semi-annual premiums, the insurance company is bound to pay any losses as described in the policy. Such a policy may include property, liability or third party, and medical coverage.
Property coverage insures damage to or theft of a vehicle; liability covers bodily injury or property damage that may occur as a result of the insured’s actions, and medical coverage pays any fees necessary for bodily injuries, rehabilitation and in some cases foregone wages and funeral costs.
In many countries, all of these types of automovile insurance are required of vehicle owners. In some countries, or states, only third party is required. However, in the case of new vehicles, any banks which may be financing the vehicle may require full insurance as a condition of financing.
2.Health insurance
Most developed nations have government-funded health care which means that most or all citizens have access to medical facilities and treatment, as well as health insurance.
For example, the National health Service (NHS) in the United Kingdom pays for citizens’ medical needs. However, in the US, there is no government-funded health policy - whether for insurance or treatment. As a result, US citizens and residents must be insured or risk facing astronomical medical bills, garnishing of wages, and bankruptcy. Often, medical insurance (both health and dental) is included in employee benefit packages in the US and other countries. Nevertheless, the issue of affordable health insurance and treatment in the US is one of the most controversial and heated topics, as many cannot afford either. If you live in a country without comprehensive national health care, then low cost health insurance is a vital requirement.
3.Disability insurance
This form of insurance protects workers from injuries and illnesses which prevent them from doing their jobs. It can pay for existing commitments the policyholders may have such as outstanding bills, mortgages, utilities, and more.
Workers’ compensation is common in the US, and pays a worker his wages and medical expenses in the event of an injury on the job.
Permanent disability which prevents a worker from ever working again is covered by total permanent disability insurance. This provides the disabled employee with benefits for the rest of his or her life, or according to the terms specified in the policy. Companies can purchase a similar type of insurance, called, disability overhead insurance. This pays for ongoing overhead costs of a business while the owners are not able to work.
4.Property insurance
This type of insurance typically covers things like homes, machinery, crops, valuable goods, shipped cargo, rented property (homes or apartments), and more.
It can cover damages as a result of various activities including acts of God (earthquakes, floods, storms, hurricanes, etc), vandalism, terrorism, fraud, and more.
5.Liability insurance
This covers negligent acts of an insured party with reference to a vehicle or a home. It protects the insured against legal claims and indemnification.
There are various types of liability insurance such as professional indemnity insurance Environmental liability insurance and Prize indemnity insurance .
Professional indemnity insurance protects employees from malpractice suits (as in the medical profession), errors and omissions (by appraisers, home inspectors, realtors, insurance agents, notaries, and others), and other acts of unintentional workplace negligence.
6.Credit insurance
This is taken by lenders who need coverage against the people that have credit with them (borrow money). In the event of their inability to pay it back (usually due to unemployment, disability, or death), this insurance protects the lender.
There are many other kinds of insuance, and even each of the major categories mentioned above has dozens of variations and types. They differ depending on the markets, the understanding of risk and availability of historical data, government regulation and law, cultural perceptions and expectations, and more.
7.Travel insurance
Travel insurance covers financial losses caused by trips abroad. Depending on the policy in question, in may cover lost luggage, theft of personal possessions, medical costs and delayed flights.
The internet has become an extremely popular means to find cheap holiday insurance.
If you have a larger vehicle, take a look at Autonet Van Insurance
Various types of insurance include vehicle insurance, which includes auto, motorcycle, and boat insurance, health insurance, life insurance, home insurance, travel insurance, personal property insurance, keyman insurance, dental insurance, rental insurance, and more.
Often, insurance is required - especially in the cases of motor insurance. Other times, it is a safeguard.
Insurance is a form of risk-management which spreads risk of many people in exchange for small payments from each. Specifically, insurance transfers some type of risk (accident, theft, natural disaster, illness, etc) from one person or group to a more financially-sound entity in exchange for a payment (also known as an insurance premium). Premiums are often annual or monthly, but depending on the type of insurance they can be at other intervals.
For example, a consumer can pay a certain amount to an insurer such as Motley Fool each year to insure that person's car. This sum represents the insurance company's assessment of the likelihood that the car will be damaged or wrecked. These data are normally taken from historical figures relating to the age, sex, profession, driving record, and accident history of the insured, as well as statistics concerning make and model of the car and its accident record, as well as the engine size, number of passengers, and even color of the vehicle.
Statistically, if the make and model of the vehicle in question, and/or its driver have been in numerous accidents, the insurance company will charge a higher premium in order to hedge expected losses. As the risk increases, so too do the premiums. In fact, sometimes, insurance companies will not even insure certain people and/or vehicles as the chance of them having to make a payout (in the event of an accident) will be almost guaranteed.
Types of Insurance
1.Motor insurance
This includes automobile, truck, motorcycle, aircraft, boat, or any other form of motorized transportation. It is perhaps the most common type of insurance, and is required by law in many countries.
Motor insurance covers the insured party against financial loss that he may incur to repair his vehicle or a third party’s in the event of an accident. In return for annual or semi-annual premiums, the insurance company is bound to pay any losses as described in the policy. Such a policy may include property, liability or third party, and medical coverage.
Property coverage insures damage to or theft of a vehicle; liability covers bodily injury or property damage that may occur as a result of the insured’s actions, and medical coverage pays any fees necessary for bodily injuries, rehabilitation and in some cases foregone wages and funeral costs.
In many countries, all of these types of automovile insurance are required of vehicle owners. In some countries, or states, only third party is required. However, in the case of new vehicles, any banks which may be financing the vehicle may require full insurance as a condition of financing.
2.Health insurance
Most developed nations have government-funded health care which means that most or all citizens have access to medical facilities and treatment, as well as health insurance.
For example, the National health Service (NHS) in the United Kingdom pays for citizens’ medical needs. However, in the US, there is no government-funded health policy - whether for insurance or treatment. As a result, US citizens and residents must be insured or risk facing astronomical medical bills, garnishing of wages, and bankruptcy. Often, medical insurance (both health and dental) is included in employee benefit packages in the US and other countries. Nevertheless, the issue of affordable health insurance and treatment in the US is one of the most controversial and heated topics, as many cannot afford either. If you live in a country without comprehensive national health care, then low cost health insurance is a vital requirement.
3.Disability insurance
This form of insurance protects workers from injuries and illnesses which prevent them from doing their jobs. It can pay for existing commitments the policyholders may have such as outstanding bills, mortgages, utilities, and more.
Workers’ compensation is common in the US, and pays a worker his wages and medical expenses in the event of an injury on the job.
Permanent disability which prevents a worker from ever working again is covered by total permanent disability insurance. This provides the disabled employee with benefits for the rest of his or her life, or according to the terms specified in the policy. Companies can purchase a similar type of insurance, called, disability overhead insurance. This pays for ongoing overhead costs of a business while the owners are not able to work.
4.Property insurance
This type of insurance typically covers things like homes, machinery, crops, valuable goods, shipped cargo, rented property (homes or apartments), and more.
It can cover damages as a result of various activities including acts of God (earthquakes, floods, storms, hurricanes, etc), vandalism, terrorism, fraud, and more.
5.Liability insurance
This covers negligent acts of an insured party with reference to a vehicle or a home. It protects the insured against legal claims and indemnification.
There are various types of liability insurance such as professional indemnity insurance Environmental liability insurance and Prize indemnity insurance .
Professional indemnity insurance protects employees from malpractice suits (as in the medical profession), errors and omissions (by appraisers, home inspectors, realtors, insurance agents, notaries, and others), and other acts of unintentional workplace negligence.
6.Credit insurance
This is taken by lenders who need coverage against the people that have credit with them (borrow money). In the event of their inability to pay it back (usually due to unemployment, disability, or death), this insurance protects the lender.
There are many other kinds of insuance, and even each of the major categories mentioned above has dozens of variations and types. They differ depending on the markets, the understanding of risk and availability of historical data, government regulation and law, cultural perceptions and expectations, and more.
7.Travel insurance
Travel insurance covers financial losses caused by trips abroad. Depending on the policy in question, in may cover lost luggage, theft of personal possessions, medical costs and delayed flights.
The internet has become an extremely popular means to find cheap holiday insurance.
If you have a larger vehicle, take a look at Autonet Van Insurance
Monday, June 21, 2010
Types of Insurance in INDIA
(A) LIFE INSURANCE :
Term Life Insurance
Permanent Life Insurance
(B) GENERAL INSURANCE
Fire Insurance
Marine Insurance
Accident Insurance
(A)Life Insurance
Life Insurance is a contract providing for payment of a sum of money to the person assured or, following him to the person entitled to receive the same, on the happening of a certain event. It is a good method to protect your family financially, in case of death, by providing funds for the loss of income.
A1. TERM LIFE INSURANCE : Under a Term Life contract, the insurance company pays a specific lump sum to the designated beneficiary in case of the death of the insured. These policies are usually for 5, 10, 15, 20 or 30 years.
Term life insurance are the most popular in advance countries but were not so popular in India. However, after the entry of the private operators and aggressive marketing by few players this kind of policies are becoming popular. The premium on such type of policies is comparatively quite low when compared with other types of life insurance policies, mainly due to the fact that these policies do not carry cash value.
PLUS OF TERM LIFE INSURANCE MINUSES OF TERM LIFE INSURANCE
- The premium payable on these policies is low as they do not carry any cash value.
- One can afford for quite high value insurance policies - If one survives the period of the policy, he / she does not get any money at the end of the policy.
The premium on such policies keeps on increasing with age mainly because the risk of death of older people is more. Over the page of 60, these policies become difficult to afford.
A2. PERMANENT LIFE INSURANCE :
In a Permanent Life contract, a portion of the money paid as premiums is invested in a fund that earns interest on a tax-deferred basis. Thus, over a period of time, this policy will accumulate certain "cash value" which you will be able to get back either during the period of the policy or at the end of the policy.
Your need for life insurance can change over a lifetime. At any age, you should consider your individual circumstances and the standard of living you wish to maintain for your dependents. In most cases, you need life insurance only if someone depends on you for support. Your life insurance premium is based on the type of insurance you buy, the amount you buy and your chance of death while the policy is in effect. This type of policy not only provides protection for your dependents by paying a death benefit to your designated beneficiary upon your death, but it also allows you to use some part of the money while you are alive or at the end of the policy. Some examples of such policies are :- Whole Life, Universal Life and Variable-Universal Life.
A2. PERMANENT LIFE INSURANCE :
In a Permanent Life contract, a portion of the money paid as premiums is invested in a fund that earns interest on a tax-deferred basis. Thus, over a period of time, this policy will accumulate certain "cash value" which you will be able to get back either during the period of the policy or at the end of the policy.
Your need for life insurance can change over a lifetime. At any age, you should consider your individual circumstances and the standard of living you wish to maintain for your dependents. In most cases, you need life insurance only if someone depends on you for support. Your life insurance premium is based on the type of insurance you buy, the amount you buy and your chance of death while the policy is in effect. This type of policy not only provides protection for your dependents by paying a death benefit to your designated beneficiary upon your death, but it also allows you to use some part of the money while you are alive or at the end of the policy. Some examples of such policies are :- Whole Life, Universal Life and Variable-Universal Life.
ENDOWMENT POLICIES
These policies provide for period payment of premiums and a lump sum amount either in the event of death of the insured or on the date of expiry of the policy, whichever occurs earlier.
MONEY BACK POLICIES
These policies provide for periodic payments of partial survival benefits during the term of the policy itself. A unique feature associated with this type of policies is that in the event of death of the insured during the policy term, the designated beneficiary will get the full sum assured without deducting any of the survival benefit amounts, which have already been paid as money-back components. Moreover, the bonus on such policies is also calculated on the full sum assured.
ANNUITY / PENSION POLICIES / FUNDS
This policies / funds require the insured to pay the premium as a single lump sum or through installments paid over a certain number of years. The insured in return will receive back a specific sum periodically from a specified date onwards (the returns can can be monthly, half yearly or annually), either for life or for a fixed number of years. In case of the death of the insured, or after the fixed annuity period expires for annuity payments, the invested annuity fund is refunded, usually with some additional amounts as per the terms of the policy.
Annuities / Pension funds are different from from all other forms of life insurance as an annuity policy / fund does not provide any life insurance cover but merely offers a guaranteed income either for life or a certain period. Therefore, this type of insurance is taken so as to get income after the retirement.
Term Life Insurance
Permanent Life Insurance
(B) GENERAL INSURANCE
Fire Insurance
Marine Insurance
Accident Insurance
(A)Life Insurance
Life Insurance is a contract providing for payment of a sum of money to the person assured or, following him to the person entitled to receive the same, on the happening of a certain event. It is a good method to protect your family financially, in case of death, by providing funds for the loss of income.
A1. TERM LIFE INSURANCE : Under a Term Life contract, the insurance company pays a specific lump sum to the designated beneficiary in case of the death of the insured. These policies are usually for 5, 10, 15, 20 or 30 years.
Term life insurance are the most popular in advance countries but were not so popular in India. However, after the entry of the private operators and aggressive marketing by few players this kind of policies are becoming popular. The premium on such type of policies is comparatively quite low when compared with other types of life insurance policies, mainly due to the fact that these policies do not carry cash value.
PLUS OF TERM LIFE INSURANCE MINUSES OF TERM LIFE INSURANCE
- The premium payable on these policies is low as they do not carry any cash value.
- One can afford for quite high value insurance policies - If one survives the period of the policy, he / she does not get any money at the end of the policy.
The premium on such policies keeps on increasing with age mainly because the risk of death of older people is more. Over the page of 60, these policies become difficult to afford.
A2. PERMANENT LIFE INSURANCE :
In a Permanent Life contract, a portion of the money paid as premiums is invested in a fund that earns interest on a tax-deferred basis. Thus, over a period of time, this policy will accumulate certain "cash value" which you will be able to get back either during the period of the policy or at the end of the policy.
Your need for life insurance can change over a lifetime. At any age, you should consider your individual circumstances and the standard of living you wish to maintain for your dependents. In most cases, you need life insurance only if someone depends on you for support. Your life insurance premium is based on the type of insurance you buy, the amount you buy and your chance of death while the policy is in effect. This type of policy not only provides protection for your dependents by paying a death benefit to your designated beneficiary upon your death, but it also allows you to use some part of the money while you are alive or at the end of the policy. Some examples of such policies are :- Whole Life, Universal Life and Variable-Universal Life.
A2. PERMANENT LIFE INSURANCE :
In a Permanent Life contract, a portion of the money paid as premiums is invested in a fund that earns interest on a tax-deferred basis. Thus, over a period of time, this policy will accumulate certain "cash value" which you will be able to get back either during the period of the policy or at the end of the policy.
Your need for life insurance can change over a lifetime. At any age, you should consider your individual circumstances and the standard of living you wish to maintain for your dependents. In most cases, you need life insurance only if someone depends on you for support. Your life insurance premium is based on the type of insurance you buy, the amount you buy and your chance of death while the policy is in effect. This type of policy not only provides protection for your dependents by paying a death benefit to your designated beneficiary upon your death, but it also allows you to use some part of the money while you are alive or at the end of the policy. Some examples of such policies are :- Whole Life, Universal Life and Variable-Universal Life.
ENDOWMENT POLICIES
These policies provide for period payment of premiums and a lump sum amount either in the event of death of the insured or on the date of expiry of the policy, whichever occurs earlier.
MONEY BACK POLICIES
These policies provide for periodic payments of partial survival benefits during the term of the policy itself. A unique feature associated with this type of policies is that in the event of death of the insured during the policy term, the designated beneficiary will get the full sum assured without deducting any of the survival benefit amounts, which have already been paid as money-back components. Moreover, the bonus on such policies is also calculated on the full sum assured.
ANNUITY / PENSION POLICIES / FUNDS
This policies / funds require the insured to pay the premium as a single lump sum or through installments paid over a certain number of years. The insured in return will receive back a specific sum periodically from a specified date onwards (the returns can can be monthly, half yearly or annually), either for life or for a fixed number of years. In case of the death of the insured, or after the fixed annuity period expires for annuity payments, the invested annuity fund is refunded, usually with some additional amounts as per the terms of the policy.
Annuities / Pension funds are different from from all other forms of life insurance as an annuity policy / fund does not provide any life insurance cover but merely offers a guaranteed income either for life or a certain period. Therefore, this type of insurance is taken so as to get income after the retirement.
Wednesday, June 16, 2010
International Medical and Health Insurance
International Medical Insurance, International Health Insurance
International health insurance provides worldwide coverage for individuals and families living abroad, 24 hours a day and beyond geographical boundaries. In most cases, protection is available without any additional underwriting and provides an accidental death and dismemberment benefit.
International Health Insurance: A Mandatory Requirement
Being a global citizen can be exciting; but while living abroad or maintaining residences in various countries, health care should not be one of the concerns. Traditional home country private health insurance will not meet one's needs beyond geographical frontiers. However, international medical insurance is specifically designed to meet this particular requirement. Such insurance protects individuals and families from extravagant medical expenses. International health insurance is also handy if one loses one's luggage or requires emergency evacuation.
International Health Insurance: Options
A global person has a variety of international medical insurance options and s/he can choose one appropriate to his/her needs. For example, a U.S. citizen living abroad can choose medical coverage worldwide or worldwide excluding the U.S. and Canada. S/he may also wish to share some risk, in which case the cost of insurance is lowered. There are plans for international senior citizens as well.
International Health Insurance: Applicable Exclusions
There are, however, some international health insurance providers that exclude the following treatments/circumstances from coverage:
•Charges that were not incurred during certificate period
•Self inflicted harm
•Weight modification
•Substance abuse
•HIV+ at effective date.
•Sexual dysfunction
•Speech or sleep therapy
•Acupuncture
International medical insurance from a quality service provider gives you access to the latest health benefits as well as peace of mind while abroad.
International health insurance provides worldwide coverage for individuals and families living abroad, 24 hours a day and beyond geographical boundaries. In most cases, protection is available without any additional underwriting and provides an accidental death and dismemberment benefit.
International Health Insurance: A Mandatory Requirement
Being a global citizen can be exciting; but while living abroad or maintaining residences in various countries, health care should not be one of the concerns. Traditional home country private health insurance will not meet one's needs beyond geographical frontiers. However, international medical insurance is specifically designed to meet this particular requirement. Such insurance protects individuals and families from extravagant medical expenses. International health insurance is also handy if one loses one's luggage or requires emergency evacuation.
International Health Insurance: Options
A global person has a variety of international medical insurance options and s/he can choose one appropriate to his/her needs. For example, a U.S. citizen living abroad can choose medical coverage worldwide or worldwide excluding the U.S. and Canada. S/he may also wish to share some risk, in which case the cost of insurance is lowered. There are plans for international senior citizens as well.
International Health Insurance: Applicable Exclusions
There are, however, some international health insurance providers that exclude the following treatments/circumstances from coverage:
•Charges that were not incurred during certificate period
•Self inflicted harm
•Weight modification
•Substance abuse
•HIV+ at effective date.
•Sexual dysfunction
•Speech or sleep therapy
•Acupuncture
International medical insurance from a quality service provider gives you access to the latest health benefits as well as peace of mind while abroad.
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