The insurance industry in India has seen rapid growth in the last few years. To further increase insurance penetration in the country, the Insurance Regulatory and Development Authority of India (IRDAI) introduced a new distribution model in 2015. This model gave rise to Point of Sale Persons (PoSPs) as a new category of insurance distributors. … Read more
Medicare Part D provides prescription drug coverage for Medicare beneficiaries. It is an optional program that you can choose to enroll in when you become eligible for Medicare. However, you may decide to defer or delay enrollment in Medicare Part D for various reasons. This article will explore whether you can defer Medicare Part D, … Read more
Recording life insurance on a company’s financial statements involves tracking the cash surrender value and premium payments. Here is an overview of how to account for corporate-owned life insurance policies. Why Businesses Own Life Insurance There are several reasons a business may purchase a life insurance policy: Key person insurance – Replace income lost if … Read more
A payment of premium provision refers to the section in an insurance policy that outlines the policyholder’s responsibilities and options for paying their insurance premiums to maintain coverage. The provision specifies key details like: When premiums are due How premiums can be paid Grace periods for late payments Consequences for non-payment Understanding the payment of … Read more
If you’re shopping for specialty insurance like mobile home or motorcycle coverage, you may come across Foremost Insurance. This company provides policies for RVs, boats, manufactured homes, motorcycles, and other recreational vehicles. But you may notice Foremost’s website and materials mention an affiliation with Farmers Insurance. So are Foremost and Farmers the same company? Or … Read more
Medicare Supplement insurance, also called Medigap, is private insurance designed to help fill coverage gaps in Original Medicare. These policies pay for certain out-of-pocket costs not covered by Medicare Parts A and B. Medigap helps supplement Original Medicare benefits, which is why it’s referred to as Medicare Supplement insurance. But what exactly are the key … Read more
Adding a driver to your State Farm auto insurance policy can increase your premium, but the amount will depend on several factors. Here’s what you need to know about how adding a driver impacts your State Farm car insurance rates. Who Needs to Be Listed on Your Policy Any licensed driver who uses your insured … Read more
Insurance policies contain certain conditions that policyholders must comply with in order for coverage to apply. Failure to meet these conditions can result in a denial of claim benefits. Understanding what conditions exist in your policy and what they require is key to getting full value from your insurance. What Are Policy Conditions? Policy conditions … Read more
Preferred provider organization (PPO) plans are a popular type of health insurance in the United States. PPO plans offer flexibility in choosing healthcare providers while also providing access to discounted rates through a network of preferred providers. As healthcare costs continue to rise, many people are looking for ways to save money on their medical … Read more
Long-term care insurance can help cover the costs of care services if you experience a chronic illness, disability or cognitive impairment later in life. However, long-term care insurance uptake remains relatively low in the U.S. Here’s an in-depth look at the statistics surrounding who has long-term care insurance coverage. Key Long-Term Care Insurance Statistics Let’s … Read more