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Advantages & disadvantages of life insurance
Advantages & disadvantages of life insurance
Advantages & disadvantages of life insurance
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Is life insurance worth it?
While researching about the worth life insurance, I found several articles with reasons why people should really consider getting life insurance.These articles often explain that life insurance is an extra help for one person.For example, if someone dies or has a disability often caused by falls either at home or work life insurance covers it.As I been researching this topic I have yet to find a good reason why someone wouldn’t consider getting life insurance.My goal in this paper is to genuinely convince you that life insurance is worth it.
Historical Context
The history of life insurance consisted of becoming a worldwide thing due to the development of modern insurance it was to assure insurance of the risks
...only one underlying purpose and that is to increase profits for the company and shareholders. Corporations have taken the position that there is a profitable benefit in having life insurance policies in the name of their employees. Corporations are just maximizing their position by looking at all legal resources that the corporation has at its disposal. As an employee you are receiving some sort of benefit from the corporation such as a salary, medical, dental, profit sharing, 401k plan and any other benefit that is offered. I don’t believe that corporations always do the right thing in regards to their employees but, I also believe that employees have come to believe that they are entitled to more than what is already offered to them. As an employee you do have a choice on whether or not you want to continue to work for any corporation that behaves in this manner.
Access to healthcare provides financial stability by assuring people that they will not be financially destroyed by injury or illness. Additionally, when people can afford regular medical care they tend to avoid chronic problems and financial stress. In a study provided by the American Medical Students Association, researchers reviewed the costs and benefits of universal health care. They came to the conclusion, after reviewing other articles and statistics from multiple sources, that, “The annual cost of diminished health and shorter life spans of Americans without insurance is $65-$130 billion.” (Chua 5) This comes from people not having adequate health care and then losing their jobs because they...
You want information about health insurance and you would like to have it in a easy to understand format. If this is the case, this article will be perfect for you. We will lay out some of the most important tips and guidelines in a way that you can quickly digest.
Health insurance is currently an important issue in the United States. Everyday more and more Americans become uninsured due to job loss and an increase in premiums. These Americans add to the ever growing population of 45.7 million people who are currently uninsured (Bialik). Moreover only 27% of those uninsured are under the age of 65 (NCHC). This is staggering considering most of those who are uninsured have, or soon will, suffer from some sort of illness or injury. As a result they will not be able to afford proper treatment. Insurance premiums can range in cost from fifty dollars per month, to fifteen hundred dollars per month (Kreidler). An individual’s premium is determined by factors they choose as well as other factors looked at by their provider. The cost of health insurance in America varies depending on the controllable factors, like particular insurance policies, and uncontrollable factors, like age.
Medical benefits have been a popular conversation that has received positive and negative feedback. Why is having medical benefits important? Important to you and your family. Medical benefits can assist with families when in need and also financially hurt families that do not have assistance. Most citizens have the question of should having medical benefits be mandated by Congress. Having insurance benefits is a necessity because it means that if an accident was to occur and it required a hospital visit, who would be responsible for the hospital bill.
From the individual perspective mandating the health insurance will firstly make the individual be independent rather than relying over the society and whatever cost of medical treatment due to catastrophic events the insured faces in his future will be covered by the Health Insurance and he has to bear very less cost of the medical treatment. And also those services will be there whether the person gets sick or not.
Insurance is a factor in the health of Americans. Most companies are required to offer insur...
Health care can benefit everyone and their different income values. Health care should be required and the risk of spending on insurance should be taken even if many Americans believe they do not need health insurance. There are always possibilities of emergencies occurring and in need of insurance for the high costs of medical care. I personally believe and argued my opinion that health care needs to be required for everyone. To conclude my argument, I have argued that there are more benefits to have healthcare insurance required and that everyone in America deserves a happy and healthy
Health insurance should be mandatory to all individuals because, at some point, every individual will need medical attention. It covers the unpredictable moments in life. Opponents argue that, many people are in good health, and they will not need health care at some point in their life. No one expects to get sick, but medical attention is needed at some point, because, no one knows when an accident may happen, or when a family member will get seriously sick. Therefore, when this time comes, it will be very easy ...
Health insurance facilitates entry into the health care system. Uninsured people are less likely to receive medical care and more likely to have poor health. Many Americans are foregoing medical care because they cannot afford it, or are struggling to pay their medical bills. “Adults in the US are more likely to go without health care due to cost” (Schoen, Osborn, Squires, Doty, & Pierson, 2010) Many of the currently uninsured or underinsured are forced accept inferior plans with large out-of-pocket costs, or are not be able to afford coverage offered by private health insurers. This lack of adequate coverage makes it difficult for people to get the health care they need and can have a particularly serious impact on a person's health and stability.
Saving:-Along with the support of medical care that a policy provides, it is also important to note financial benefits that it gives. You save in two different ways with a medical insurance
Placing monetary value on an individual’s life is measured not by the way an individual has lived, but rather the individual’s income; at least that is how society views life. Every individual values life from a different perspective. And while every human will find value in life, those values will not be the same as everybody else. Some people will value life as a privilege and believe life should be taken seriously while considering the consequences in every decision contemplated while others will live in the fast lane with an irresponsible mindset. Individuals also view life differently depending on the circumstances. However, no matter how an individual views life, it seems to be impossible to extract emotion out of any decision. Society, on the other hand, values life by placing a monetary value on a human life. Society also has no choice but to set emotion aside when setting that monetary value. The government will use that value to compensate a family who has just lost a love one. However, some families mistake the compensation for “replacing” the lost soul and become indignant. There are many alternatives when it comes to compensating the victim’s family. In most times, society always ends up placing a value on an individual based on his/her income. Furthermore, while society delivers compensation to families, society also believes in compensation for an individual’s pain and suffering. There are times society should place a monetary value on life, while having restrictions.
J. David Cummins, A. S. (1999). Changes in the Life Insurance Industry: Efficiency, Technology and Risk Management: Efficiency, Technology, and Risk Management. Springer.
The insurance is meant to cover the cost costs associated with long-term care for those who have had strokes, chronic diseases, or Alzheimer’s diseases, as well as those who can simply no longer manage to live on their own. It is imperative that I be able to reap the cost-benefits to of being protected against the financial consequences of the high cost due to increasing life expectancies and the resultant rise in the chance that you may eventually need some level of care. In short, creativity in decision making is vital to effective choices. Therefore, it is essential to consider all of the possible alternatives will help you make more efficient and favorable decisions. Moreover, when life events affect your financial needs, the financial planning process will provide a vehicle for adapting to those changes. Also, specific financial goals are vital to financial planning. Others can suggest financial goals for you; however, you must decide which goals to pursue. Your financial goals can range from spending all of your current income to developing an considerable savings and investment program for your future financial
The subject of Marine Insurance is very wide and encompassing. It entails many different policies and clauses which vary according to the offers of the insurer and the needs of the assured. Insurance in general is the equitable transfer of the risk of a loss, from one entity to another in exchange for payment called a premium. Both life and property can be insured. Commonly insured assets include buildings and vehicles, and goods in transit. In the world of shipping, many risks are involved which are termed perils of the sea. These include, but is not limited to; damage to vessel by objects such as ice bergs, or damages arising from dangerous weather conditions, theft, and piracy. As a result, it is imperative for all vessels being operated