Fixed Benefit: An insurance policy benefit that remains the same and does not change.
Flat Extra: An extra dollar amount per $1,000 of insurance that is charged to cover any extra hazard or special risk such as aviation or hazardous activities.
Flexible Premium Policy: ...vary the amount or timing of premium payments.
Free Look Period: The period of time in which a policy owner has the legal right to examine a newly issued policy and return it for a full refund of premium if not satisfied for any reason. The period of time varies by state and is usually between 10 and 30 days with 10 being the most common.
Insurance Tip #15
More often than not, every time you begin with the process of making a claim for your medical health insurance, it begins with the referral of the friendly General Practitioner, GP. Now this all important GP is going to get more helpful as government's GPs tsar says that NHS and its patients could save a lot of time and money if they are being treated by the GPs instead of the 'specialists'.
All the GPs specialize in one field or another during their medical training and if they are asked to treat patients instead of referring them to the specialists or consultants, it would be efficient use of the present resources. It would mean less pressure on hospitals and more time for them to deal with emergency services and core specialist services.
In the process to make the largest employer in Europe function few more policy changes have taken place. The new regulation will allow National Health Service to recover the costs of medical treatment from insurers in cases where compensation is paid for personal injury. The recognised trade organisation of the health insurance sector the Association of British Insurers made it clear two years back that it would add a further 5% to the cost of employers' liability cover for an average business.
These few steps taken is public welfare will help towards the cause of better public health but few things that even the public should keep in mind are the way they choose their health insurance policy. Be it an individuals' health insurance or your family's health cover one should be judicious in selecting the right avenue to avail it. Regular and timely payment of the premiums is essential so it's important that one should avail such a health insurance policy that is affordable for you! Remember affordable health insurance policy doesn't mean a cheap health policy!
The definition of the term affordable is relative so what is affordable for you may not be affordable for me! So affordable will generally cover most of your basic/essential health requirements and for emergency needs the NHS is always there. But cheap will mean that the policy will cover only very few things and might leave some situations out. So while taking a low cost scheme that is offering limited cover, one should insure that his essential requirements are in place.
More often than not in-patient treatment and day-patient treatment will be covered but if you need to consult a specialist as an out-patient then what will be the procedure or the damages (expenses!) to do that. The range of hospitals that you will go to get treated might also differ with the amount of premiums. So these are little things that can make a big difference in your life. Be careful and stay insured!