The insurance market fluctuates between soft and hard cycles over time. During a hard market, it becomes more difficult and expensive to obtain insurance coverage. But what exactly causes the market to shift into a hard phase? There are several key factors that can create conditions for a hard insurance market. Overview of Insurance Market … Read more
Owning a home free and clear without a mortgage is a major financial accomplishment. But just because you don’t have a monthly mortgage payment doesn’t mean you can skip homeowners insurance. Here’s what to know about insuring a home when you have no mortgage. Overview of Homeowners Insurance First, a quick refresher on what homeowners … Read more
When buying a life insurance policy, you will come across two important terms – the proposer and the insured. While they may sound similar, there are some key differences between the two. Understanding who is a proposer and who is an insured is important to determine who initiates the policy, pays the premiums, and receives … Read more
If you have two different Medicare numbers, you may be puzzled about why this is the case. It’s quite common for Medicare beneficiaries to have more than one Medicare number or card during their lifetime. There are some specific reasons why you could have two Medicare numbers. Let’s understand when and why you may be … Read more
Finding home insurance can be a frustrating experience if you own a high-risk property that insurers consider too risky to cover. If you are struggling to find basic homeowners insurance for your house, there are still several options you can explore. In this comprehensive guide, we will cover: Why Insurers May Decline Home Insurance Tips … Read more
Providing health insurance is an expected benefit at many companies today. However, the costs of traditional group health plans can be prohibitive for some employers. This leads to the question – can I reimburse employees for their own individual health insurance plans? The answer is yes, you can reimburse employees for health insurance premiums they … Read more
Self-insuring is a risk management strategy where a company sets aside funds to cover unexpected losses instead of purchasing insurance policies. Rather than paying premiums to an insurance provider, the company retains the risk and pays for losses out of pocket. Self-insuring can save money over time but requires financial discipline to build up adequate … Read more
If you’ve been injured in an accident that was caused by someone else’s negligence, one of the first steps in seeking compensation is to determine who was at fault. This establishes liability – meaning who is legally responsible for the accident and your resulting damages. When the at-fault party’s insurance company accepts liability, it can … Read more
If you work with an insurance broker to purchase a policy, you may wonder – who actually pays their commission? Is it baked into what you pay as a policyholder? Or does it come directly from the insurance company? The short answer is that insurance companies pay commissions to brokers. But let’s break it down … Read more
Medicare Part B covers medical services like doctor visits, outpatient care, home health services, and durable medical equipment. Most people eligible for Medicare are automatically enrolled in Part B. The standard monthly premium that enrollees pay for Part B coverage is set annually by the Centers for Medicare & Medicaid Services (CMS). So what will … Read more