Where are going the insurance premiums?

How insurance companies use the money they receive from you and other policyholders is the source of many misconceptions, widespread and extremely stubborn. For example, some believe that this money stays in the bank until someone makes a claim. Wrong. Others believe that the premiums are payable for claims that have already occurred. It is still true.

Your dollar bonuses after a long journey, but ultimately, they serve primarily to help consumers in different ways. If you have a loss, for example, a portion of your premium and those of other insured will return to you one way or another, which will help you recover.

How insurance works

Although it may seem complex, insurance is actually very simple: the payments (or premiums) to allow the multitude to settle claims of a small group. Your premiums are paid in a large pooled fund, if you will, with your insurance company. The small group of claims are paid from this fund. As people who contribute to the common fund are more numerous than those who present claims, the fund still contains sufficient funds to pay claims - whether a single claim of a significant amount, eg when a person becomes permanently disabled as a result of a car accident, or a multitude of claims of a lesser amount, as in the case of a natural disaster. (According to some estimates, the ice storm that hit parts of Quebec, Ontario and New Brunswick in 1998 gave rise to some 700 000 claims for damages totaling $ 1.4 billion.) However, major disasters (such as ice storms) come close to exhausting the fund.

Insurance for insurance companies  Even when the cash goes close to being emptied, there is another case in which insurance companies can dip to settle claims. A portion of your premium is used by your insurance company to underwrite reinsurance, ie d. insurance for insurance companies. Sometimes, claims are so important - as in the case of an earthquake - that would be impossible for an insurance company to bear alone the costs. The reinsurance provides additional protection against loss of importance.
Annual reconstitution of the body  Your insurance is an annual contract, so that the fund is operated in a single year at a time. The amount of your premiums and premiums for other policyholders is determined by the amount that insurance companies feel they must make during the coming year to settle claims. Your premiums do not accumulate over time, unlike some types of life insurance.
Compare premiums  Within reasonable limits, some of which are dictated by law, your premiums are calculated based on the likelihood that you file a claim, that is to say that you pigerez in common insurance fund. Those least likely to dip into the fund pay lower premiums than those who are more likely to do so.Insurers take many factors into account in determining the likelihood that you file a claim. According to a preconceived standard, a policyholder who has never made a claim should pay less, little or nothing for their insurance. Although the history of claims are indeed important, a more reliable indicator of the likelihood that a person or company making a claim is the statistical group to which it belongs.
Industry profits  Insurance companies generally do not have money with the premiums paid by policyholders. In 2005, insurance companies paid more than $ 21 billion in claims as they hit $ 35 billion in bonuses. Insurance companies use the gap between premiums and claims, or 14 billion dollars in this case, to pay salaries and taxes ($ 6.2 billion in 2005) and pay overhead costs (p . ex., electricity bills) associated with the operation of their business. They also use them to pay administrative costs relating to the settlement of claims.
The insurance covers ...  The insurance covers only the types of losses described in your contract. It is very important that you read your policy or you ask your insurance representative about the coverage you get or not. Your insurance will not cover all the problems you can face. And it is not a maintenance contract. The insurance is generally intended - and it is priced accordingly - to help policyholders cope with the financial impact that can have unpredictable events, sudden and accidental. If, for example, you live on a floodplain near a river, flooding of your property in the spring is not sudden or accidental, it is inevitable and therefore uninsurable.

Business Insurance

In a world full of opportunities but also full of risk, have appropriate insurance coverage to their needs is essential to the survival and prosperity of businesses and nonprofit groups in Canada. The right kind of insurance and an adequate amount of protection provide peace of mind financially to organizations that try to break into a business environment can be complex. In a society that increasingly using the court system to settle disputes, it is more important than ever for an organization, its employees and volunteers, as appropriate, to have insurance to protect themselves against lawsuits (liability insurance).

For small and medium businesses, community groups, social and recreational, find and maintain an insurance business may be crucial to their survival. But the risks faced by some organizations to ensure that affordable insurance is difficult to find. The insurance company in Canada working with representatives of business, industry, non-profit, insurance companies and government to find and implement practical solutions to this problem. Once the solutions implemented, Canadian organizations will have better access to affordable insurance company and benefit from peace of mind at the financial level.

Dental Rates: The End of transparency.

A law of April 2009, implemented in March 2010, until forced dentists to be transparent in indicating the cost of each service and the price of the equipment supplied by the prosthetist. The legislature wanted to force the dentists to practice moderate and acceptable margins on the purchase price of dentures and improve factual information to patients. The dentists were immediately protested against this law they deemed it "unjust and disastrous" and that affected their image. Lobbying of elected officials has borne fruit, because the Senate has put an end to this law virtually stillborn on March 9. A decline detrimental to many patients forego dental care, lack of resources.
The original text had already lost a significant portion of its contents: Outside of the purchase price of the equipment that was clear and so divorced from the associated services, the practitioner must inform his patient of origin dentures. The law would have allowed to control the traceability of prostheses that one in three is made abroad to cut costs (including China). The outcry from the profession has resulted in a decision that came delete this provision, the law holding that the obligation of transparency on the price.
On 9 March, the Senate voted to end the obligation. The Health Minister, Xavier Bertrand, supports this decision and even states that want price transparency should apply to all commercial professions, dentists are primarily health professionals who do not seek profits Sale of property. Yet, given the difference in cost of dental care in France, this law would have to curb some excesses tariff. By region, the cost of a prosthesis varies up to threefold; heal in Paris or in a large city has far more impact on the family budget in the provinces. Without mutual or complementary health care, many can not bear the burden remains invisible after the repayment of Social Security.
By lifting the end of opacity on the dental fee, the former health minister, Roselyne Bachelot, had attempted to enforce the right of patients to better information. By ending this legislation today, the legislature does not act on behalf of policyholders, but the game is a powerful professional category at 14 months of an important election.

Maternity: have a good mutual health.

Motherhood and, before her pregnancy period, confer certain rights guaranteed by health insurance. The insured are supported at 100% for consultations, care, medication and monitoring, since they declared their pregnancy with their health insurance fund before the end of 3rd month. Once the registration is successful, it sends the mother a personalized calendar medical examinations supported and dates of maternity leave for one that works. She also receives a practical guide to help throughout her pregnancy on her rights, the steps related to the birth of a child and the health boards. Optimal coverage appears adequate. Pregnancy and motherhood may then lead to additional costs that health insurance will not support: higher fees, additional consultations, hospital to name the most common. Having a health insurance which gives a prominent place in the maternity is essential to supplement the basic coverage.
Health Insurance reimburses 100% (based on conventional rates in sector 1) on 8 mandatory visits, drugs from the 5th month of pregnancy (except blue stickers), ultrasound mandatory 4 months (and partially first 2), the BCA and blood, preparation for childbirth on the basis of 8 sessions with a midwife or doctor, childbirth itself in a hospital or clinic and rehabilitation conventioned post native on the basis of 10 sessions after prior agreement of the union. We may add that the amniocentesis AM 100% refund for any woman over 38 years or if a family history of genetic and chromosomal abnormalities.
Everything that goes beyond this framework is not supported by Social Security. The excess fees are common among gynecologists, obstetricians or anesthesiologists, and the rates of a particular room can severely encumber budget (up to 150 € per day). Amniocentesis, exit the framework defined above, is not supported by the DA, not to mention that this type of review often leads to very costly excess fees.
Membership in a mutual health dedicated overcomes the shortcomings of the general system. Warranties vary from a mutual to another. Many now offer a baby bonus as a lump sum which can go up to 300 €, but that does not include higher fees or costs associated with comfort in the hospital or clinic. Attention to certain mutual differentiating the maternity hospital, and may decide not to support it, motherhood is seen as a specialized institution. Finally, it is important to choose a mutual no waiting period to receive reimbursement at the earliest.

What health insurance choose to be better paid?

Find out about the waiting period of your insurance. This is the period during which you are not refunded (some expenses are not taken into account).
Verify that the additional supports third-party payment (automatic return that you do not advance the costs of drugs)

How to choose a health insurance suited to my profile?

Four main points are considered: accidents, illness, dental, optical expenses. To you determine the payback percentage based on your needs, if you do not wear glasses, you can reduce the rate of reimbursement of the cost to reduce optical insurance.

What is a refund of 200% or 300%?

This is the rate of reimbursement based on the scales of social security.
Some doctors may charge higher fees ...

for reimbursement at 200%: 2 x 22 € - 14.4 € (amount taken up by social security)
for reimbursement at 300%: 3 x 22 € - 14.4 €

Why take out health insurance?

Health insurance allows you to overcome the financial risks relating to the termination of your employment. In case of illness, social security supports a portion of your medical expenses (variable depending on the accident, illness, care costs, etc.).. To the left is your health insurance takes over. This insurance allows you to cope with contingencies for you and your family. Prices health insurance can be distinguished by the age of the subscriber, its social system (Employee, TNS, etc..), and the rate of reimbursement in respect of general care, hospitalization, dental care, fresh and optical care.

How to reduce the price of my health insurance?

Compare prices and get health insurance rates. Get a customized offer tailored to your needs in just a few clicks with the comparator AssurProx. Health insurance companies are: Swiss Life, MMA, Alptis, April, Direct Insurance, etc..

Dog insurance: is it mandatory?

Having a pet involves duties, to the animal itself by giving respect and care for others and if the animal causes damage to another person. If you own a dog, you are responsible for the act of your pet. Who said liability protection said. Are you protected against damage caused by your dog? What law applies?
The law holds as head keeper of the dog, namely the owner or person from whose custody has been transferred permanently (Article 1385 Civil Code). In case of accident or damage caused by the dog, the victim need not prove guilt, it must simply determine the injury caused by animals. At first your home insurance covers damage and injury caused by your pet with the liability coverage included in most comprehensive home contracts. The insurance will reimburse any damage to property and body which would be third victim. If custody of your pet is left to a professional (kennel, veterinary), there is automatically a transfer of custody, its professional liability insurance plays in this case. However if a guard occasionally (at a friend or neighbor for example the time of a weekend), the very person to whom you entrust your dog should check their insurance may cover this kind of risk. This automatic coverage through homeowners' insurance does not apply to dogs in categories 1 and 2.
The concept of a dangerous dog effect varies according to race. Dogs are considered Class 1 (attack dogs) dogs bred Staffordshire Terrier and American Staffordshire terrier, commonly called "pit bulls", or the Boer bull mastiffs and dogs of breed "Tosa". In category 2, are listed watchdogs and advocacy such as Rottweilers and morphology similar to those without pedigree. Apart from the fact that the owners of such hounds must comply with legal obligations (sterilization, declaration hall, muzzling, certificate of fitness) and as their responsibility is greater in case of accident, they must purchase insurance liability including risk relating to the possession of dangerous dog. All insurance cover will not accept the risk. If you are considering adopting a dog from category 1 or 2, check with your insurance if it extends the warranty of your comprehensive home: if she accepts, your premium will increase by more than a hundred euros. The alternative is to sign a contract with a company specialized SantéVet as market leader for pet insurance. In addition to covering veterinary care for your dog, you have the option of civil liability for a few dollars more per month. These contracts are subject to deductibles.