Non-life insurance policies provide coverage to protect consumers against the risk of their insurance premiums. These types of policies are more common in European countries.Continue Reading
Insurance premiums, such as those that cover someone's life, home or car, do carry some risk for the consumer. While it covers the majority of expenses, there is still a risk that a person will have to pay some money if the person does need to file a claim against the insurance policy. Non-life insurance provides additional protection against this risk.
Non-life insurance can also be used to protect financial investments. It can ensure that assets are safely covered for investors. There are a number of regulations and guidelines pertaining to non-life insurance terms, all of which vary based on the customer's specific situation.Learn more about Insurance
To find affordable home insurance, compare the coverage types, monthly or annual premiums and customer satisfaction reviews of at least three home insurance providers, advises U.S. News & World Report. If possible, purchase additional insurance coverage, such as auto or motorcycle insurance, from an insurance provider that offers multiple policy discounts, suggests Investopedia.Full Answer >
Common benefits of group health insurance coverage include the tax benefits for employees and the payments that employers usually contribute toward the premiums, reports the National Association of Health Underwriters. By law, insurance companies cannot deny small or large businesses or individual employees coverage due to pre-existing health conditions. Federal law also stipulates that group plans must provide participants with important plan information and must temporarily continue to cover employees after they lose their jobs.Full Answer >
Complaints about long-term care insurance include substantial rate hikes on premiums that buyers must pay or risk losing coverage, reports Forbes. Some buyers also complain that their insurers refuse to pay out when they need to collect on their policies. Long-term care policies also have the disadvantage of covering only nursing home care, while people may have diverse needs in old age.Full Answer >
Life insurance policies from American Income Life, or AIL, offer benefits such as full life coverage, fixed premiums and final expense plans. Whole Life Insurance and Term Life Insurance policies are available, with the option of adding a terminal illness rider, according to AIL. The company also offers other products, such as accident, hospital, cancer and critical illness protection.Full Answer >