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Life Expectancy

Life Expectancy

 

A Closer Look at the United States Life Expectancy

Life expectancy is the average number of years expected left to live in group of individuals who are born in the same year. These values can also be given based on the expected remaining years based on a given age instead of the expectancy when born (at the age of 0). This is often done to take infant mortality into account, which can greatly distort life expectancy averages, if the rate of infant mortality is high.

Because many mortalities specific to age have been reduced, the life expectancy in the United States has increased dramatically over the last century. In addition, fertility has decreased considerably in the population, leading to a rapidly aging population, which a higher percentage of individuals who are at least 65 years old.

As of 2011, the life expectancy of Americans is currently 78.37 years. The United States has the 50th longest life expectancy of its citizens out of 222 counties, being surpassed by many others including Japan, Italy, Canada, United Kingdom, France, Norway, and many others, all which have life expectancy rates over 80 years.

Most variations in life expectancy rates globally are due to differences in medical care, public health, and diet. However, in poorer nations and third world countries, a dramatically lower rate can result from mortality from disease, war and starvation. An example of this would be in South Africa, where life expectancy should be approximately 69.9 years but is instead measured to be around 41.5 years due to the prevalence of AIDS.

The average life expectancies among the majority of countries are no constant between men or women. Men typically have a lower life expectancy in comparison to women. Currently, men have an expectancy of 75.92 years while women have a life expectancy of 80.93 years.

Life expectancies have been growing significantly as more medical and technological advances have been made. From 1900 to 1902, the expectancy in the United States was 49.2 years (97.9 for men and 50.7 for women). This average increased by 10 years by 1930 and nearly another 10 by 1950. Since then, it has steadily increased up till today’s value.

While the life expectancy has grown considerably in the United States, this does not eliminate the fact that there are certain conditions that are more likely to affect an individual be the cause of death.

As of 2009, the 15 leading causes of death and the death rates according to the CDC were:

• Heart diseases or heart conditions:  598,607

• Malignant neoplasms (cancer): 568,668

• Chronic lower respiratory conditions: 137,082

• Cerebrovascular conditions: 128,603

• Unintentional injuries: 117,176

• Alzheimer’s disease: 78,889

• Diabetes Mellitus: 68,504

• Pneumonia or influenza:53,582

• Nephritis: 48714

• Suicide: 36,547

• Septicemia: 35,587

• Cirrhosis or chronic liver disease: 30,444

• Hypertension or hypertensive renal disease: 25,651

• Parkinson’s disease: 20,552

• Homicide: 16,591

Indemnity Insurance

Indemnity Insurance

Understanding Indemnity Insurance


Indemnity insurance is a traditional type of insurance where an insurance company gets paid a fee. Indemnity insurance is used to compensate beneficiaries of policies for the actual value of their economic losses, up to the amount limited by the policy. Indemnity insurance normally requires the person who is insured to prove the value of the loss before he or she can recover.
Recovery under indemnity insurance is limited to the value of the loss that is provable, even if the policy’s face amount is greater. There are many different types of indemnity insurance, such as personal indemnity, health insurance, and professional indemnity insurance. This insurance works as a means of financial support if a policy holder happened to get sued for damages.

Types of Indemnity Insurance
The most basic type of indemnity insurance is a health insurance policy. A typical health insurance policy can be either a group policy or an individual. Both provide coverage for any medical costs are included in the policy, or rather, that are not excluded. An exclusion can be an issue such as a preexisting condition or other issues that a health insurer chooses not to provide for in the policy. Coverage in this type of indemnity insurance usually depends on the health of the policy holder when getting the policy.
Personal indemnity insurance is given as a form of a renters or homeowners insurance policy. The insurance company usually offers a policy that will indemnify if a policy holder has losses that are covered according to the terms of the policy. Individuals who pay a landlord rent can be sued for being the cause of damage. This is also applicable for landlords that do not repair or fix a previously acknowledged problem with or on the property. In either situation, a landlord or individual would have to pay for any damages that the other party suffered.
Professional indemnity insurance is a form of a professional liability insurance policy. The policy provides protection to the policy holder for any actions that may cause harm or impose damages to a client. Examples of this can oversights that happen while performing a certain service. For example, many professional services tend to have errors and omission coverage that pays for any legal costs in the case of a lawsuit brought by a client.

Indemnity Insurance Coverage
The amount of coverage required in an indemnity insurance policy relies on the type of policy purchased. Most insurers require a minimum coverage amount for a professional policy while a personal indemnity policy needs enough coverage for possible injury or damage that occurs.

Indemnity Insurance Fees
All indemnity insurance policies have limits as well as fees. These fees can be the deductible and the co-insurance payment. The purpose of these fees is to lower overall costs by having the policy holder pay a bit of the expenses. 

How are Insurance Groups Classified?

How are Insurance Groups Classified?What are Insurance Groups?

In the United Kingdom, car insurance rates are set, by what car insurance group your respective vehicle falls into. In essence, insurance groups are classification groups aimed to organize the delivery of car insurance in the United Kingdom. Each automobile is placed into a specific insurance group based on the vehicle’s engine size, fuel economy, safety ratings, repair costs, value and overall performance.

In total, there are twenty car insurance groups in the United Kingdom; in general, the higher the group (and vice versa), the higher the performance of the vehicle and the more you will have to pay for insurance. The classification system was installed to streamline the insurance pricing model; in the United States a risk assessment is evaluated for each insurance application, whereas in Britain, vehicles are simply placed into fixed brackets or car insurance groups to expedite the delivery of a car insurance rate.

How are Insurance Groups Classified?

Car Insurance Groups in the United Kingdom are established by the Group Rating Panel, which primarily made up of the Association of British Insurers and Lloyds Market Association. These individuals meet on a monthly basis to classify each new car that is marketed or produced in the United Kingdom. Although the rating system has a substantial influence in regards to the insurance rates in the United Kingdom and the majority of car insurance companies use the groups, it is not a compulsory classification system.

Buyers of new cars can find out what group a certain model is classified before they make a purchase; this enables buyers to have an idea of what their insurance costs will be before finalizing a purchase. In addition to the aforementioned characteristics associated with the vehicle—such as the car’s safety ratings, gas mileage, price and replacement costs—other factors, including driving history, age, credit score and education may be calculated to determine the appropriate insurance group.

Insurance Groups Classifications:

Low Car Insurance Groups: Cars that fall in this group typically have a score below 10 on the classification scale. These cars are considered low risk in regards to the likelihood of initiating a claim. Furthermore, automobiles ranked in the low car insurance group have low replacement costs, so even if an accident or claim was realized, the insurance group would face lower costs. Cars in this group are typically equipped with the latest safety features, including advanced alarm systems, VIN numbers and an immobilization system in the event of theft.

Midrange Car Groups: This car insurance group is home to vehicles with a score between six and 12. The majority of family-style cars, because of their generic repair costs and advanced safety features are grouped in this category. Cars in midrange insurance groups carry an average sale price, but hold their value well to generate an above average resell value. The ford Fiesta and Citroen Saxo are examples of midrange vehicles.

Above Average Car Groups: This group is home to the majority of sedans and smaller compact cars. Vehicles in this group possess scores between nine and 20, as a result of their larger engines, enhanced packages, such as trim and wheel enhancements and their high repair costs. The BMW 3 series and the Audi A3 are examples of cars in the above average group.

High Car Groups: This classification is home to sports cars and luxury vehicles; these cars typically have high performance engines, a high sales price and several add on packages. While the majority of these cars possess the most advanced safety features, the high cost of replacement for parts and repairs cancels out any positive ratings. Vehicles in this group typically fall between 18 and 20 on the car group scale and as a result, carry the highest insurance premiums of all insurance groups.

What You Didn’t Know About Dental Insurance Dental Insurance

What You Didn’t Know About Dental Insurance Dental Insurance

What is Dental Insurance?
A Dental insurance policy is a procedure within which an individual becomes eligible for the receipt of Dental benefits through the undertaking of Dental insurance coverage; Dental insurance is fashioned to cover the costs of a wide range of dental procedures undertaken by individual policyholders.
In many cases, Dental insurance is classified as a type of health insurance, which results in the structuring of Dental insurance policies, terms, and conditions to mirror those latent within the overarching health insurance policies offered – while both health and Dental insurance may be offered in tandem, Dental insurance is considered to be far less abundant with regard to its availability than its health counterpart.

Managed Dental Insurance vs. Fee-for Service Dental Insurance
A wide range of Dental insurance variables and parameters exist concerning the structure and components of a Dental insurance plan; a large majority of Dental insurance plans vary in accordance to the setting within which that plan is offered, the individual classification of the individual interested in coverage, as well as the type of coverage requested:


Managed Dental Insurance vs. Fee-for-Service Dental Insurance
Although the multitude of Dental insurance plans and policies are subject to variation with regard to the individual applicant, the 2 overarching types of Dental insurance plans – within which the vast majority of specialized insurance plans exist – range from general to private in nature:
General or managed Dental insurance policies are furnished on a universal basis, typically fashioned in a uniform manner; this means that in the event that the individual recipients do not wish to furnish supplemental payment for specialized coverage, those recipients will be required to conform with the terms and conditions expressed within a general Dental insurance policy
In contrast, a private Dental insurance policy – also known as a ‘fee-for-care’ policy – is fashioned with regard to an individual applicant, and uniquely structured in a personalized manner in order to meet the needs of an individual applicant
Dental Insurance Premiums
A Dental insurance premium is the amount of payment required by a prospective policyholder in order to finalize Dental insurance coverage; the determination of an insurance premium will result from a wide range of classifications and detail, including the range of network, the type of coverage, as well as the profile of the individual seeking coverage.

Dental Insurance Deductibles
A Dental insurance deductible is an expressed amount of payment required by an individual policyholder prior to the enactment of Dental insurance coverage – however, an Insurance deductible varies from an insurance premium. An Insurance premium is payment required by the policyholder in order to be eligible for coverage; in many cases, a premium is viewed in accordance to a fee for a service:
In contrast, a deductible is the amount of payment required by the policyholder prior to the furnishing of financial restitution enacted by the individual insurance provider
Oftentimes, the term ‘co-payment’ is used as a reference to a deductible – a co-payment furnished by an individual policyholder will be required in order to precipitate monetary coverage furnished by the individual insurance provider

Your Guide to Understanding Health Insurance

Your Guide to Understanding Health Insurance

What is Health Insurance?
A Health insurance policy is a procedure within which an individual becomes eligible for the receipt of Health benefits through the undertaking of Health insurance coverage; akin to the traditional ideology of insurance, a Health insurance policy allows for supplemental protection offered that exists as a contingency plan in the event of unforeseen circumstances. Upon the formulation of an individual Health insurance plan, the individual covered under the Health insurance plan in question will furnish payment in exchange for Health insurance coverage. 
Types of Health Insurance
Within the Health insurance field, there exist a vast expanse of options concerning the structure and components of a Health insurance plan; a large majority of Health insurance plans vary in accordance to the setting within which that plan is offered, the individual classification of the individual interested in coverage, as well as the type of coverage requested:


Managed Health Insurance vs. Fee-for-Service Health Insurance
Although the multitude of Health insurance plans and policies are subject to variation with regard to the individual applicant, the 2 overarching types of Health insurance plans – within which the vast majority of specialized insurance plans exist – range from general to private in nature:
General or managed Health insurance policies are furnished on a universal basis, typically fashioned in a uniform manner; this means that in the event that the individual recipients do not wish to furnish supplemental payment for specialized coverage, those recipients will be required to conform with the terms and conditions expressed within a general Health insurance policy
In contrast, a private Health insurance policy – also known as a ‘fee-for-care’ policy – is fashioned with regard to an individual applicant, and uniquely structured in a personalized manner in order to meet the needs of an individual applicant

Health Insurance Premiums vs. Health Insurance Deductibles
The following comparison is furnished in order to clarify the differences between these key terms:


Premium
A Health insurance premium is the amount of payment required by a prospective policyholder in order to finalize Health insurance coverage; the determination of an insurance premium will result from a wide range of classifications and detail, including the range of network, the type of coverage, as well as the profile of the individual seeking coverage.

Deductible
A Health insurance deductible is an expressed amount of payment required by an individual policyholder prior to the enactment of Health insurance coverage – however, an Insurance deductible varies from an insurance premium. An Insurance premium is payment required by the policyholder in order to be eligible for coverage; in many cases, a premium is viewed in accordance to a fee for a service:
In contrast, a deductible is the amount of payment required by the policyholder prior to the furnishing of financial restitution enacted by the individual insurance provider
Oftentimes, the term ‘co-payment’ is used as a reference to a deductible – a co-payment furnished by an individual policyholder will be required in order to precipitate monetary coverage furnished by the individual insurance provider

Professional Indemnity Insurance

Professional Indemnity InsuranceWhat is Professional Indemnity Insurance?

Professional indemnity insurance provides protection or cover against claims brought against the policyholder in situations revolving around professional negligence. Professional indemnity insurance is primarily obtained by business professionals who offer and provide advice to their customers. In a general sense, there are two types of businessmen who purchase professional indemnity insurance: voluntary and involuntary.

The involuntary business or businessman is required to purchase professional indemnity insurance, in accordance with federal or state legislation. These individuals typically belong to accounting or financial services firms, transport industries, information technology firms, consulting businesses, charitable organizations, building professionals or architects.
Medical professionals and legal professionals are examples of individuals who may voluntarily purchase a professional indemnity insurance policy. There are three primary types of professional negligence–negligent error or negligent omission, error or omission and civil liability—and each will be discussed below:

Types of Professional Indemnity Insurance:

Negligent Error or Negligent Omission: This type of professional indemnity insurance protects the policyholder against any loss or circumstances incurred solely as a result of their negligent act, error or omission in carrying out the holder’s everyday business.

This form of professional indemnity insurance is the narrowest form of cover.
Negligence Act, Error or Omission: This form of professional indemnity insurance protects the policyholder by providing coverage against any losses or circumstances arising solely as a result of their negligent actions, errors or omissions in carrying out the policyholder’s business.

Civil Liability: The majority of professional indemnity insurance policies will extend beyond simply the coverage examples offered above to provide indemnity for any civil liability. This form of professional indemnity insurance provides coverage against an assortment of actions, including all libel and slander, as extensions to the specific policy wordings.

Furthermore, civil liability professional indemnity insurance provides coverage in situations where a breach of contract occurred. All civil liability professional indemnity insurance policies are attached with an operative clause, which is both wide and fairly complex. As a result of the operating clause, there is typically an extensive list of exclusions listed under such policies, in order to exclude certain liabilities that are covered elsewhere. If such a list was not attached to this form of professional indemnity insurance, things like the Public Liability and Employers Liability may be overlapped in regards to coverage.

Public Liability Insurance

Public Liability InsuranceWhat is Public Liability?

Public liability is an aspect of tort law, which specifically focuses on civil wrongdoings. An applicant, or the injured party, in a product liability case will typically file a lawsuit to sue the respondent (the owner or occupier) under a common law basis of negligence and/or damages.

Public liability claims are typically successful when the applicant can show that the owner or occupier was responsible for causing an injury to the individual. In general, a public liability case attempts to evaluate whether the owner of a business or occupier of a property breached their specific duty of care to irrefutably precipitate some form of wrongdoing or injury to the applicant.

The duty of care in a public liability case refers to the standard by which one would expect to be treated while in the care of another. Although this term is somewhat simple, when evaluating it through a legal scope to determine whether a party is at fault of precipitating an injury, it becomes highly complex and somewhat ambiguous.

When a breach of duty has been established, any legal action brought in a common law court would most likely be successful. Based on the circumstances of the case, meaning the injuries suffered and the losses experiences by the applicant, the court will award a financial compensation package as a reimbursement for the monies and time lost as a result of the injuries sustained.

What is Public Liability Insurance?

In a general sense, liability insurance is an aspect of the general insurance system of risk financing to protect the insured party from the risks of liabilities realized by law suits and similar legal claims. The insurance policy protects the insured party in the event that he or she is sued for claims that are labeled within the coverage of the insurance policy.

Using this general definition of liability insurance, it must be understood, when attempting to understand what public liability insurance is, that industry and commerce are based on a range of activities and processes that carry the potential to affect a number of third parties (sub-contractors, trespassers, members of the public etc.) in a way that directly results in physical injury.

Public liability insurance protects an organization from the legal fees and costs associated with a lawsuit. For example, if a small business does not shovel their sidewalk and an individual slips on ice and breaks their wrist, the person may sue for negligence and recover whatever costs are tied-into his or her injury. This is a relatively small and inexpensive example of how a small business or organization can face legal costs.

As a result of their invariable impact, the majority of organizations or companies, although not compulsory in all states, will purchase a public liability insurance policy. The reason why the majority of organizations, even small businesses, will secure a public liability insurance policy is because in the event of a legal action, out-of-pocket costs associated with legal fees, a defense and a settlement can far exceed premium costs. In some extreme cases, the costs associated with a claim could be enough to shut down a business.

Businesses must consider all potential exposures to risks when deciding whether public liability insurance is necessary, and if so, how much coverage provides the most cost-effective protection.

Tips for Easily Comparing Travel Insurance

Tips for Easily Comparing Travel InsuranceWhat is Travel Insurance?

Travel insurance is a type of insurance that is intended to cover medical expenses, financial hardships over travel suppliers and other losses that may incur while travelling. Travel insurance may be purchased by an individual travelling within his or her country or abroad; regardless of the location, the insurance policy provides coverage against any financial losses that occur as a result of travelling.

How do I Effectively Compare Travel Insurance Policies?

Effectively comparing travel insurance policies is a highly personalized endeavor; to get the best deal on a travel insurance policy you must explicitly understand what you need to cover on your trip. For instance, a single mother travelling with young adults will require different forms of coverage than a businessman travelling out of the country. The ability to match-up your specific needs and coverage points with an applicable and cost-effective policy is the primary goal of evaluating or comparing travel insurance packages.

The most effective way to compare travel insurance is to price similar policies (issued by different companies) with one another. You can effectively gauge prices and policy specifics by visiting travel insurance websites or review portals that clearly outline and contrast various travel insurance plans.

 Although these resources are available it is important to acknowledge that the best travel insurance policy is highly dependent or at least influenced by your specific situation. As a result, before comparing and contrasting travel insurance policies, it is crucial to ask yourself a few basic questions concerning your vacation plans: Am I travelling with my family? Are there young children with me? Am I staying abroad? How long am I travelling for? Can weather affect my trip? What medium of transportation(s) am I using?

These questions will invariably answer your inquiries regarding the inclusion of specific coverage options. For instance, medical coverage would not be warranted for a simple business trip in your home country, whereas insurance that provides a reimbursement for weather damages may be suitable for your upcoming cruise.

Types of Travel Insurance:

In addition to a traditional travel insurance policy, an individual can purchase temporary or cheap travel insurance, which is usually arranged at the time the trip is booked. Temporary or cheap travel insurance will provide coverage for exactly the duration of the trip.

This form of cheap travel insurance is less extensive than continuous travel insurance, which can be purchased from travel agents (work for travel insurance companies) or directly from travel suppliers, such as tour operators or cruise lines. That being said, a comprehensive travel insurance package, purchased from a travel supplier, will tend to be less inclusive than a policy offered by an insurance company.

Travel insurance will often provide coverage to an assortment of travels; student travel, leisure travel, adventure travel, business travel, international travel and cruise travel are all options or forms of travel that can be covered by travel insurance.

Defendants Sentenced for Staging Automobile Accidents

Defendants Sentenced for Staging Automobile Accidents


On November 27, 2012, the US Attorney’s Office for the Northern District of Texas announced that the final two defendants of a staged automobile accident scheme were sentenced.  Kara Lashon Collins and Stephanie Denise Moses were sentenced to 46 months and 12 months in federal prison.  Collins was ordered to pay $356,000 in restitution, and Moses was ordered to pay $95,000.  


The principal defendants, Frenchitt Su-Dell Collins and Alan Murray Robison, were sentenced to 15 years and 100 months in prison earlier in November.  Frenchitt Collins is Kara Collins’ husband and Robison’s half-brother.  Frenchitt was also ordered to pay $700,000 in restitution, and Robison was ordered to pay $203,000.  


According to court documents, the four defendants operated a scheme to defraud insurance companies like Hartford Lloyds Insurance Company, Travelers Insurance, GEICO Insurance Company, Nationwide Insurance Company, 21st Century Insurance Company, and Farmers Insurance Group of Companies.  People were recruited to stage accidents, and the defendants also stole identities from people including an Iraq war veteran and a school cafeteria worker.  The fraudulent insurance claims were submitted after the staged accidents and with fake identities.  


The defendants also created fake chiropractic clinics that submitted fraudulent medical records and bills to insurance companies.  The claims were submitted to private-pay property and casualty insurance carriers that settled claims on accidents solely according to fake documentation of property damage claims as well as fake medical records and bills.  The settlement checks were cashed by the defendants.  


Court documents further indicate that Frenchitt Collins and Alan Robison tried to tamper with a witness after they were arrested in May 2012.  The defendants tried to convince two witnesses to sign affidavits with information they believed would help the defense.  The witnesses would not sign the affidavits and turned over the false affidavits to the FBI.  


Source: Federal Bureau of Investigation

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