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Help Protect Your Income with Disability Income Insurance - 0 views
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The
possibility of sustaining a long-term disability from an accident or illness is
something most of us would rather not contemplate. Axis
Capital Group in Jakarta understands this very well. However, there is a
way to help protect yourself and your family should you lose your ability to
earn an income and to stay away from fraud. Disability income insurance can
play a key role in your overall financial plan, and provide a benefit to help
replace a portion of your income in the event of a total disability.
Evaluate and Review Your Needs
While most
people understand the necessity and value of life insurance, many may overlook
the valuable role disability income insurance plays in helping to create
financial security. How will you support yourself and your family if you cannot
work as a result of an accident or illness? For most, Social Security cannot be
solely relied on to replace lost wages. One must meet very specific criteria to
qualify for disability benefits, and it is often necessary to wait several
months for payments to begin.
You may be
able to "get by" for a few months on your savings, but if the disability is
prolonged, you may exhaust most-or all-of your savings. Further financial
hardships may then follow. You may miss mortgage, car, and other credit
payments, causing damage to your credit rating. Utility bills, tuition, grocery
bills, and business/professional expenses will also continue despite disability
and loss of income.
The bottom
line is that losing your ability to earn an income may make it difficult to
make ends meet. Disability income insurance can be a practical solution to help
protect your financial security in the event you become disabled. Axis Capital,
a group of companies with branch offices in Bermuda and around the world,
provides Disability Income Insurance.
Types of Coverage Available
Depending on
your income, the maximum coverage will typically replace 45% to 75% of your
pre-disability earnings. The cost of the coverage will depend on such factors
as the risk level of your occupation, your age, your health history, and the
scope of coverage. Professionally employed individuals are typically in a lower
risk category than those engaged in more physically demanding work. Individual
disability income insurance is by application and is subject to underwriting
approval.
It should
also be noted that when you pay the premiums (versus an employer-provided
policy), the benefits from individual disability income policies is tax free.
If your employer has a salary continuance plan, you should know the dollar
amounts of coverage, the waiting period, and the length of payments, so you can
coordinate your individual coverage with your employer-provided.
Study proposes that Prolonged Health Coverage may Improve Cancer results in young Adults - 2 views
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Warning! According to a study from Dana-Farber/Brigham and Women's Cancer Center (DF/BWCC) and Harvard Medical School, young adults who lack health care insurance are more likely to be diagnosed in advanced stages of cancer and have a higher risk of death.
AXIS Capital, a group of companies with branch offices in Bermuda, Australia, Canada, Europe, Latin America, Singapore and the United States, a global insurer and reinsurer, providing clients and distribution partners with a broad range of specialized risk transfer products and services, has full support with Affordable Care Act. (The company also services SE Asian countries such as KL Malaysia, Bangkok Thailand, Jakarta Indonesia and many more.)
Consequently, the Affordable Care Act (ACA), or Obamacare, may improve cancer outcomes in young adults as it expands coverage to many who have been uninsured, said first author Ayal Aizer, MD, MHS, of the Harvard Radiation Oncology Program and senior author Paul Nguyen, MD, of Radiation Oncology at DF/BWCC in a report published in the Journal of Clinical Oncology today. Cancer patients will furthermore profit from the ACA requirement that insurers cover individuals with pre-existing illnesses.
"We found that patients who have insurance coverage do better on every measure," said Aizer. Those who had insurance coverage were less possible to come to medical care when their cancer had metastasized, or extent yonder the original site. The results revealed that 11.3 percent of covered individuals had metastatic illness when they were diagnosed, matched with 18.5 percent of uninsured patients. That resulted to a 16 percent larger adjusted possibility of having a potentially treatable cancer.
Insured patients were almost two times as possible to obtain "definitive therapy" - radiation or surgery - for their illness. And, amazingly, the insured were 20 percent more possible to survive.
With all the wary reviews, the researchers studied records of 39,447 cancer patients' ages 20 to 40 years whose medical, demographic and insurance information was kept in a National Cancer Institute-sponsored database.
The huge majority of patients - 93 percent - were insured, whereas 7 percent, or 2,578, had no coverage; they inclined to be younger, male, non-white and single, and more possible to be from regions of lower median income, educational level, and population density. The study surveyed relationships between insurance status and some cancer outcomes.
"Overall, the ACA is going to improve health coverage for young people, but we can't forget about some young people who may feel they can't afford the premiums," added Nguyen. The authors wrote in their article that "extra consideration will need to be given to ensure that at-risk patients can obtain insurance coverage under the ACA."
Premium costs for certain young adults who buy insurance in the individual market are predictable to increase considerably. Such individuals frequently lack employer-sponsored health plans. The higher costs are relatively since the coverage under the ACA is obligatory to be more complete than several existing plans, and for the reason that the premiums paid by young, healthy people are serving to fund lower costs for older adults.
Conversely, the ACA spreads young adults' coverage under their parents' health plans up until age 26, and federal grants will pay portion of the premium costs of low-earning patrons.
SOURCE:
http://patch.com/massachusetts/belmont/about-axis-capital--accident--health-axis-capital-group-hartford-jakarta-indonesia-kansas-houston_9d2241ba
Property Insurance Basics - 1 views
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AXIS Capital, a group of companies with branch offices in Bermuda, Australia, Canada, Europe, Latin America, Singapore and the United States has built a global franchise that is well diversified by product -i.e. Property and Casualty Insurance.
When damage, theft or loss occurs, property insurance covers a business's building and its contents such as money and securities, accounts-receivable records, inventory, furniture, machinery, supplies and even intangible assets such as trademarks.
There are insurance companies that offer property insurance by named danger, like fire and theft. Others bid policies that cover many perils. Most basic multiple-peril policies comprise losses caused by fire and theft; however business owners can buy added kinds of coverage if they must. For an instance, a business in the Jakarta, Indonesia may want to purchase an earthquake-insurance policy.
Businesses with effective loss-control measures and claim histories often pay lower insurance premiums compared to companies with perilous procedures and poor claims histories. Taking steps to prevent loss like hiring security personnel to avoid shoplifting, installing a sprinkler system to contain fires or using an alarm system to guard against theft can help control complaints in the cost of property insurance.
Types of Coverage
Several businesses buy property insurance by means of a business-owner's policy (BOP), which packages property and liability insurance into one policy; on the other hand, given that the amount of coverage available in a BOP is generally lower than in a standard property-insurance policy, companies that require a lot of coverage typically stick with a distinct policy.
Some BOPs also comprise business-interruption insurance and extra-expense insurance which is two kinds of elective coverage in a property insurance policy that protect a business after a loss occurs.
Business-interruption insurance provides payments for expenses like salaries, taxes and debts, in addition to any loss of profit because of the interruption of business.
Extra-expense insurance recompenses the expenses of temporarily moving a business when a covered peril happens. Remember to review your policy. For instance, if a fire devastates a clothing store, extra-expense insurance will recompense for a business to continue operations and cover such expenses as buying or leasing equipment, getting new merchandise and notifying customers about changes that have happened.
Source:
http://www.jeteye.com/jetpak/27f914dc-fd48-4f43-a6a7-e7eb71ba0f0a/
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The Internet of Things (IoT) has been everywhere. Even in developing cities such as Bangkok, Thailand, Jakarta, Indonesia and Kuala Lumpur, Malaysia, the internet has been greatly advancing and influencing business industries to adapt the latest in technology for better provision and production of services and products.
Although insurance is one of the first to adapt data integration and cloud-storing system, we cannot deny the fact that the industry is lagging behind in the application of the most recent technological advancement.
Axis Capital Inc., with a group of insurance and reinsurance companies in Bermuda, Singapore, Australia, the United Kingdom and the United States stated in interview that technology is forcing many companies to change. With ample amount of data and confidential information as well as an already established process, change would be hard to accept. However, the company also predicts that perhaps in 2025, the industry would have already been far different than it is now. Whatever the broader potential for change, insurers say that the most immediate challenge would be responding to the demand of the clients and fulfilling customer satisfaction.
The Internet of Things is a complex web of data, people, places, cars, files and basically about everything is expected to play a very important impact on the gradual change of the insurance industry.
Aside from the fact that fraudulent insurance and online scams brought by IoT have already put insurers at the edge of their seat and has challenged them to keep up with the growing trend, the demand of market to do everything online is forcing them to adapt.
The ability to bring internet connection to nearly every type of consumer device will have huge implications for the insurance industry over the next five years. Insurers looking to cut costs, improve business practices, and better assess clients' risk levels, will increasingly invest in the Internet of Things (IoT).
Because of their core system limitations, insurers have struggled to keep pace with other industries with regard to consumer-facing capabilities. But in a world where consumers increasingly make their purchases through online channels, insurers risk losing customers who traditionally bought insurance face-to-face with agents. If customers make purchase decisions based on a customer experience that insurers struggle to deliver, then those customers may be up for grabs.
Some auto and health insurers are already offering a new type of insurance: usage-based insurance (UBI) that uses IoT devices to track clients' activity and offer discounts or rewards for healthy and safe behavior. We expect 17 million people will have tried UBI auto insurance by the end of this year.
Connected car is the first to adapt IoT then the health industry, two of primary insurance coverage sold.