Few things are as important as health insurance. Many countries have what is called "single payer" healthcare. Health insurance for everyone comes out of taxes. If you get sick, you are automatically covered. Unfortunately, it doesn't work that way in America. Without health insurance, a serious but treatable illness could be a death sentence. This is why it is important to always be insured.
I knew someone who was travelling overseas. She was young and in good health, and figured she didn't need health insurance - she had scarcely been sick a day in her life. She was in South America, when she started to feel nausea, and dizzy spells. At first she ignored them, but they soon grew worse. She returned to the United States and went to a doctor, and discovered that she had cancer. A doctor's visit, combined with a battery of tests can, by its self, cost hundreds of dollars. Treatment for cancer can run into the thousands, or even the tens or hundreds of thousands easily. She was unable to afford this kind of expense, and grew sick and eventually passed away. It was a tragic and avoidable death - if she had been insured, things might have turned out much differently.
There are several different kinds of health insurance. The most traditional kind is called a Fee-For-Service plan. It has the advantage of giving you a greater range of choices than any other health care plan - you can go to any doctor you want to. You pay a monthly premium, and also have a deductible, perhaps $250 or $500. This is the amount of medical expenses which you have to pay in any given year before your insurance takes effect. After that, it pays a majority of further medical expense while you pay a small portion, often around 20%.
Another type is called the HMO or Health Management Organization. An HMO has a staff of doctors, often in one or several central locations, which it requires all of its patients to go to. Although you don't have nearly the number of choices you do with a fee-for-service plan, your health costs will be much lower. There is a small fee charged for each visit to a doctor, but most other costs are covered by your insurance.
Most professionals are insured through their jobs. Their bosses are able to buy insurance at group rates, which saves money, and so they can offer their employees cheaper insurance than they could purchase on their own. Unfortunately, the way health insurance is set up can cause serious problems for an employee who develops a serious or chronic condition. If they wish to leave the company, they will not be able to find new insurance to cover them, because of their pre-existing condition. Other insurers will not want to cover them, because their condition means that their healthcare costs are likely to be higher than the amount of money which they pay for coverage. Therefore, they may because of their illness, be unable to leave their company, even if their job is unsatisfying. You can even look out for more information on internet for various types of Universal life insurance
About the Author
Donald is a professional who recommends universal life insurance you will find more, for more please visit: http://www.choicesinc.ca/universal-life-insurance/
Thursday, May 8, 2008
Universal Life Insurance | Different Kind Of Health Insurances
Life Insurance Toronto | Difference Between The Different Policies Available
If you are worried about your family's future then waste no time and check out what you can do for them while you are alive and also what you can do even if you are not with them. In today's uncertain world any thing can happen to you and you can find that your family is in deep financial trouble. You can take the advice of a local insurance agent who can guide you with the best of possible insurance policies which can take care of your family in future.
You can also lookout for the information on the internet also. There are many different policies available in the market to suit the needs of different individual with different kind of benefits too. All you have to do is to choose which one suits you the best of them all.
One should select a policy taking into considerations of all aspects in the life, that there can be sudden death to you by an accident or by any illness, or even if in a situation where a person has to spend his entire earnings onto the medical treatment due to a prolonged illness. This is when a person thanks a God that he had an insurance policy which took care of his all needs. One should always be prepared for any uncertainty that may happen at any given time.
Although the word life insurance may sound complicated, but once you do some kind of research then you will find it very easy. You can do some research by getting in touch with various companies providing life insurances or you can even log on to internet where there are many search engines which can provide you with lots of information about life insurance with just at the click of button.
I had a neighbor who met with an accident one day and he was hospitalized for more than three months. Three months? Just think with the kind of expenses that he had to go through. When he came out of the hospital, he found himself highly indebted with all the medical bills that had been incurred during the treatment. Believe me it took more than five years for him to repay all the money that he had taken as a loan from a bank to repay his medical bills. Had he taken a health insurance all his expenses would have been taken care of? This is when I realized that how important it is to make ourselves confident and financially secure with the help of these policies.
I would also like to give a suggestion to everyone that a term life insurance policy really helps you. The name and the working is very simple. All you have to do is to do some research and choose the right kind of policy which suits you the best and benefits you the most according to your requirement. You can get an option to choose from a fixed term insurance policy or a permanent policy. The basic difference between both the policies is that a term life insurance comes at a very affordable rate, where as permanent life policy is slightly costly, but you get an added advantage of getting additional financial support for you and your family for your entire life. In case if you have purchased a term life insurance policy and during the period insured any thing happens to you then the entire money is given to the person who is nominated by the insurer.
About the Author
Fred is a busy career man who recommends life insurance Toronto and if you want to find more information please visit:http://www.choicesinc.ca/life-insurance-toronto/
When Do You Have to Incorporate and What is Involved?
Incorporation is one of any number of ways to structure a business. These include a limited liability company, an S-corporation and a C-corporation. Each structure has benefits and drawbacks, and it is important to decide which type of corporation works best for your situation, or if it makes sense to consider other options like operating without a corporation or working through an umbrella company. Understanding the options, however, is always a good place to start.
* A limited liability company, or LLC, can be very beneficial for small businesses or single person enterprises. The paperwork involved in establishing an LLC is much less extensive than either an S-corp or a C-corp. Requirements differ from state to state, but an LLC does not require stock to be issued or a board of directors.
* An S-corp is a smaller corporation that has a limited number of shareholders. One of the main benefits of an S-corp is that the profits from the company pass through the corporation to the partners. The partners pay taxes on the profits of the company on their personal income tax.
* A C-corp has no limits on size or type of shareholders. Any company that properly fills out the paperwork for incorporation and pays the incorporation fee can become a C-corp. A drawback of C-corps is that the business profits are taxed, and then the profits are paid to shareholders are taxed again. This leads many people to feel that C-corps suffer from double taxation.
* An umbrella company is a type of firm, sometimes called an employer of record, that provides a business infrastructure for you and is the legal entity you contract with clients through. The advantages of this type of situation vary by provider, but typically involve coverage under the group business insurances, simplified tax filing, access to benefits, and more. Legally speaking, under this type of arrangement you typically become a W-2 employee of the firm, however for operational purposes you still function like an independent contractor or consultant.
What are the Benefits of Incorporation?
There are a variety of reasons that a company would benefit from structuring itself as a corporation. The liability for the individual is reduced. Because a corporation sets the business apart from the individuals involved in the business, the partners are shielded from lawsuits and their personal assets are protected.
Another reason that someone may choose to incorporate is to reduce their tax burden. The structure of a corporation makes it much easier to track profits and losses and deduct business expenses. This reduces the tax that the partners must pay.
While it is difficult for many sole proprietorships to receive funding, a corporation, even if it consists of the same people, has a much easier time receiving money from investors or lending institutions. From another financial standpoint, a business that runs as a sole proprietorship is nearly impossible to sell, while a corporation is much easier.
How to Incorporate
Incorporating your business is not complicated, but the requirements vary from state to state and the paperwork can be time consuming. While it is very possible to incorporate by yourself, there are also many services available that will complete the corporation paperwork for you for a fee. Many lawyers will also complete the corporation process for you.
If you decide to complete the corporation process yourself, there are several steps that you must complete. Because the exact requirements differ from state to state, it is important to check the website of your secretary of state to get the details. Many secretaries of states' websites will also include all of the necessary forms that you can download from your computer.
Also, to begin the incorporation process you will need to choose a business name. The first step is perhaps the most simple; the next can be more complicated. You need to determine what type of structure you want your company to have. All three types of corporations, LLC, S-corp and C-corp have benefits and drawbacks. You will have to decide what type works best for your company. If you decide on an S-corp or C-corp, you will need to name a board of directors, which will need to be added to the bylaws, another necessity of incorporation. If you are establishing a C-corp or S-corp, you have to determine how you will issue shares of the company. Once you file your paperwork and pay the incorporation fee, you will receive your certificate of incorporation.
The process of incorporation can be extensive, depending on how much paperwork you have to compile. If you already have informal bylaws, and know who will be sitting on your board, the process can be relatively straightforward, with some help from the state's secretary of state office. If you are starting a new business and have no partners or bylaws, you may find it easier to hire an attorney to establish your corporation for you.
Other Options
Given the benefits stated above, it is not surprising that many individuals want to incorporate their business. However, the process can be long and filled with red tape, and maintaining the corporation on an ongoing basis means a bit of extra work. Depending on the situation, if an individual is self-employed as a professional consultant or freelancer, they can consider working with a portable employer of record or umbrella company. In this situation, workers can remain independent in their practice but can also enjoy the benefits of W-2 employment. Most employers of record offer everything from access to group health insurance to general liability insurance.
No matter what direction you wish to take your business, be sure to get all the facts. Often, individuals take the path of least resistance or go after too much, too soon. In the business world there is no telling what achievements or obstacles lay around the corner. Knowing all of your options is your first line of defense.
About the Author
Stephanie Larkin is a freelance writer who writes about topics pertaining to management, employment opportunities and Back Office Operations
About Health Insurance for Overseas Travel
Thirty years ago, the world we live in is comfortable, green, and very suitable for living. Now, can we still consider this world like that? With all the sickness around us, how can we be so sure that this world is still a good place to live in? The problem is that we don't have a choice...
We cannot go and live in space! This environmental problem is getting on its worst state that instead of being safe, we are slowly being drawn to various diseases. The answer to these diseases lies on our hands. But with scientific technology losing grip of answers, where do we run? Thus, many people are now turning to health insurance plans as investments. Health insurances have been around for quite a long time now, allowing the consumers secure their health benefits by ensuring that there is money available in case of emergency health crisis. There are government agencies that provide health insurances while others can still purchase from insurance companies.
These health insurance plans work like policies between a company and an individual. Both parties agree to sign a contract that may be renewed annually or for some, in monthly basis. There are several forms of payment obligations depending on the agreement. The health insurance system also has several terminologies like the premium, which is the amount the individual pays to the health plan to avail of the health coverage, the exclusions, which means not all cases are covered, the coverage limit, which sets the amount the individual is entitled to and the capitation, which is the amount paid by the insurer to a health office, or health care provider to assure that the provider agrees to treat the all the members of the said insurer.
In our present day, health insurances have evolved to cater to more specific needs. There is now this thing called the health insurance for overseas travel. As we all know, travel is always, if not, often an exciting venture. When a person embarks on a journey, there are always the thrills of being in a new place, discovering new things and of course, there are also unpredictable accidents. These unexpected situations may bring the traveler into a predicament. Therefore, a worldwide health travel insurance must come hand in hand with the booking of the international flight. The worst scenario that could happen abroad is not having the financial capability to cover the health need. It is often the case that when accidents happen in a foreign country, the chances of the expenses are more likely to double up. Adding up to this are the hassles of language barrier, difference in the medical system and culture will surely intensify the problem.
Having a health insurance for overseas travel therefore, is like cradling yourself and making sure that you are protected. The financial problem will be lessened thus being able to travel with a peace of mind. The best thing nowadays is that the price of this health insurance for overseas travel is very competitive. Many companies are offering it for a relatively cheap price. There is definitely no excuse for getting one. Health is always wealth. It is something that must never be taken for granted. It is an investment for the family.
About the Author
Read further information about how to find the right health insurance for overseas travel and the cheapest travel insurance policies
