This is difference Savings in Insurance with Bank Savings

When I was prospecting someone to offer insurance programs, there are some opinions and feedback from the prospect.

One is: What is the difference in saving in bank with savings in insurance?

Much difference if we save money in the bank on insurance, among others:

• Banks do not provide protection for the life of the owner or customer accounts.

That is, with a customer in a bank, if one day the customer dies, the beneficiary or his family will only get a refund of the balance amount in the bank.

It's different if the client has opened an account at the insurance, if the customer dies, the heirs or family to get a sum assured plus the return on savings balances available.

• If customers want to save money in the bank and want to hospital facility, the facility should normally be bought from an insurance company (bancassurance), so the cost to be incurred for the benefit of there being become larger.

How come? Yes, because the administration fee in addition to the customer in the bank, there are administrative costs in the insurance and the cost of hospital facilities.
If saving money on insurance, the benefits of the existing hospital be in addition to the monthly administration fee charged insurance companies, so customers just pay two times only

These costs should still be charged to the customer, which will be used for the company's operating costs, salaries, cost of electricity, cost of transportation, etc. ..... So do not expect anyone free of charge.

• level of interest rates that given.

Introduction About What is Insurance

This is the first article in insuranceupdated.blogspot.com, before we discuss around insurance, of course, we should know what is the meaning of insurance.

In terms of definition, Insurance is coverage. Here there is an agreement made ? between the two parties, the insurer and the insured in a bond. Bond here is for the insured to pay the premium. The premium here is to pay money damages when the insured suffered a loss in one day, whether the loss is certain or uncertain

For the insurer it must provide a payment of money taken by insurance, such as life insurance (health or death) or insurance (fire, cars, homes, valuables, etc.).

While the definition of insurance in the broadest sense is an agreement between the insured and the insurer, to receive a premium to provide reimbursement to the insured for any loss, damage, or loss of expected profit or loss may be due to a certain event.

Thus, it can be concluded that the insurer is:
1. a treaty
2. There is a requirement in an agreement, which pays a premium
3. Reimbursement will be given to the insured by the insurer
4. It is possible that the events are not sure or do not necessarily happen

While the cost of insurance premiums is the prerequisite in the insurance agreement. Because without the premium will be no insurance.

Insurance permits people (individually), businesses and alternative entities to safeguard themselves against vital potential losses and money hardship at a fairly reasonable rate. we are saying "significant" as a result of if the potential loss is little, then it does not be to pay a premium to safeguard against the loss. After all, you'd not pay a monthly premium to safeguard against a $50 loss as a result of this might not be thought of a money hardship for many.

Insurance is suitable after you wish to safeguard against a major financial loss. Take life assurance as Associate in Nursing example. If you're the first wage earner in your home, the loss of financial gain that you justr family would expertise as a results of our premature death is taken into account a major loss and hardship that you ought to shield them against. it'd be terribly tough for your family to interchange your financial gain, therefore the monthly premiums make sure that if you die, your financial gain are replaced by the insured quantity. a similar principle applies to several alternative varieties of insurance. If the potential loss can have a prejudicial result on the person or entity, insurance is sensible.

Everyone that wishes to safeguard themselves or somebody else against money hardship ought to take into  insurance account. this might include:

• Protective family when one's death from loss of financial gain
• Covering contingent liabilities
• Protective against the death of a key worker or person in your business
• Shopping for out a partner or co-shareholder when his or her death
• Protective your business from business interruption and loss of financial gain
• Protective yourself against unpredictable health expenses
• Protective your home against thievery, fire, flood and alternative hazards
• Protective yourself against lawsuits
• Protective yourself within the event of incapacity
• Protective your automobile against thievery or losses incurred thanks to accidents
• Etc.

OK. We think introduction about insurance was enough. Thanks for read this article

Types of Insurance You Need to Know

Insurance what will we choose and we need, first identify the types of insurance, then determine type of insurance that you need.
The following are the types of insurance you need to know :

1. Auto Insurance

   
   
   Auto insurance protects the policyholder against financial loss in the event of an incident involving a vehicle they own, such as in a traffic collision.
   Coverage typically includes:
   
   1. Property coverage, for damage to or theft of the car;
   2. Liability coverage, for the legal responsibility to others for bodily injury or property damage;
   3. Medical coverage, for the cost of treating injuries, rehabilitation and sometimes lost wages and funeral expenses.
   Most countries, such as the United Kingdom, require drivers to buy some, but not all, of these coverages. When a car is used as collateral for a loan the lender usually requires specific coverage.
   

   • Gap insurance

     
     
     Gap insurance covers the excess amount on your auto loan in an instance where your insurance company does not cover the entire loan. Depending on the companies specific policies it might or might not cover the deductible as well. This coverage is marketed for those who put low down payments, have high interest rates on their loans, and those with 60 month or longer terms. Gap insurance is typically offered by your finance company when you first purchase your vehicle. Most auto insurance companies offer this coverage to consumers as well. If you are unsure if GAP coverage had been purchased, you should check your vehicle lease or purchase documentation.

2. Health Insurance

   
   
   Health insurance policies cover the cost of medical treatments. Dental insurance, like medical insurance protects policyholders for dental costs. In the US and Canada, dental insurance is often part of an employer's benefits package, along with health insurance.

3. Accident, sickness and unemployment insurance

   
   
   
   • Disability insurance policies provide financial support in the event of the policyholder becoming unable to work because of disabling illness or injury. It provides monthly support to help pay such obligations as mortgage loans and credit cards. Short-term and long-term disability policies are available to individuals, but considering the expense, long-term policies are generally obtained only by those with at least six-figure incomes, such as doctors, lawyers, etc. Short-term disability insurance covers a person for a period typically up to six months, paying a stipend each month to cover medical bills and other necessities.
   • Long-term disability insurance covers an individual's expenses for the long term, up until such time as they are considered permanently disabled and thereafter. Insurance companies will often try to encourage the person back into employment in preference to and before declaring them unable to work at all and therefore totally disabled.
   • Disability overhead insurance allows business owners to cover the overhead expenses of their business while they are unable to work.
   • Total permanent disability insurance provides benefits when a person is permanently disabled and can no longer work in their profession, often taken as an adjunct to life insurance.
   • Workers' compensation insurance replaces all or part of a worker's wages lost and accompanying medical expenses incurred because of a job-related injury.

4. Casualty Insurance

   
   
   Casualty insurance insures against accidents, not necessarily tied to any specific property. It is a broad spectrum of insurance that a number of other types of insurance could be classified, such as auto, workers compensation, and some liability insurances.
   
   • Crime insurance is a form of casualty insurance that covers the policyholder against losses arising from the criminal acts of third parties. For example, a company can obtain crime insurance to cover losses arising from theft or embezzlement.
   • Political risk insurance is a form of casualty insurance that can be taken out by businesses with operations in countries in which there is a risk that revolution or other political conditions could result in a loss.

5. Life Insurance

   
   
   Life insurance provides a monetary benefit to a decedent's family or other designated beneficiary, and may specifically provide for income to an insured person's family, burial, funeral and other final expenses. Life insurance policies often allow the option of having the proceeds paid to the beneficiary either in a lump sum cash payment or an annuity. In most states, a person cannot purchase a policy on another person without their knowledge.
   Annuities provide a stream of payments and are generally classified as insurance because they are issued by insurance companies, are regulated as insurance, and require the same kinds of actuarial and investment management expertise that life insurance requires. Annuities and pensions that pay a benefit for life are sometimes regarded as insurance against the possibility that a retiree will outlive his or her financial resources. In that sense, they are the complement of life insurance and, from an underwriting perspective, are the mirror image of life insurance.
   Certain life insurance contracts accumulate cash values, which may be taken by the insured if the policy is surrendered or which may be borrowed against. Some policies, such as annuities and endowment policies, are financial instruments to accumulate or liquidate wealth when it is needed.
   In many countries, such as the US and the UK, the tax law provides that the interest on this cash value is not taxable under certain circumstances. This leads to widespread use of life insurance as a tax-efficient method of saving as well as protection in the event of early death.
   In the US, the tax on interest income on life insurance policies and annuities is generally deferred. However, in some cases the benefit derived from tax deferral may be offset by a low return. This depends upon the insuring company, the type of policy and other variables (mortality, market return, etc.). Moreover, other income tax saving vehicles (e.g., IRAs, 401(k) plans, Roth IRAs) may be better alternatives for value accumulation.
   

   • Burial insurance

     
     
     Burial insurance is a very old type of life insurance which is paid out upon death to cover final expenses, such as the cost of a funeral. The Greeks and Romans introduced burial insurance circa 600 CE when they organized guilds called "benevolent societies" which cared for the surviving families and paid funeral expenses of members upon death. Guilds in the Middle Ages served a similar purpose, as did friendly societies during Victorian times.

6. Property Insurance

   
   
   Property insurance provides protection against risks to property, such as fire, theft or weather damage. This may include specialized forms of insurance such as fire insurance, flood insurance, earthquake insurance, home insurance, inland marine insurance or boiler insurance. The term property insurance may, like casualty insurance, be used as a broad category of various subtypes of insurance, some of which are listed below:
   
   • Aviation insurance protects aircraft hulls and spares, and associated liability risks, such as passenger and third-party liability. Airports may also appear under this subcategory, including air traffic control and refuelling operations for international airports through to smaller domestic exposures.
   • Boiler insurance (also known as boiler and machinery insurance, or equipment breakdown insurance) insures against accidental physical damage to boilers, equipment or machinery.
   • Builder's risk insurance insures against the risk of physical loss or damage to property during construction. Builder's risk insurance is typically written on an "all risk" basis covering damage arising from any cause (including the negligence of the insured) not otherwise expressly excluded. Builder's risk insurance is coverage that protects a person's or organization's insurable interest in materials, fixtures and/or equipment being used in the construction or renovation of a building or structure should those items sustain physical loss or damage from an insured peril.^[22]
   • Crop insurance may be purchased by farmers to reduce or manage various risks associated with growing crops. Such risks include crop loss or damage caused by weather, hail, drought, frost damage, insects, or disease.^[23]
   • Earthquake insurance is a form of property insurance that pays the policyholder in the event of an earthquake that causes damage to the property. Most ordinary home insurance policies do not cover earthquake damage. Earthquake insurance policies generally feature a high deductible. Rates depend on location and hence the likelihood of an earthquake, as well as the construction of the home.
   • Fidelity bond is a form of casualty insurance that covers policyholders for losses incurred as a result of fraudulent acts by specified individuals. It usually insures a business for losses caused by the dishonest acts of its employees.
   • Flood insurance protects against property loss due to flooding. Many insurers in the US do not provide flood insurance in some parts of the country. In response to this, the federal government created the National Flood Insurance Program which serves as the insurer of last resort.
   • Home insurance, also commonly called hazard insurance or homeowners insurance (often abbreviated in the real estate industry as HOI), provides coverage for damage or destruction of the policyholder's home. In some geographical areas, the policy may exclude certain types of risks, such as flood or earthquake, that require additional coverage. Maintenance-related issues are typically the homeowner's responsibility. The policy may include inventory, or this can be bought as a separate policy, especially for people who rent housing. In some countries, insurers offer a package which may include liability and legal responsibility for injuries and property damage caused by members of the household, including pets.^[24]
   • Landlord insurance covers residential and commercial properties which are rented to others. Most homeowners' insurance covers only owner-occupied homes.
   • Marine insurance and marine cargo insurance cover the loss or damage of vessels at sea or on inland waterways, and of cargo in transit, regardless of the method of transit. When the owner of the cargo and the carrier are separate corporations, marine cargo insurance typically compensates the owner of cargo for losses sustained from fire, shipwreck, etc., but excludes losses that can be recovered from the carrier or the carrier's insurance. Many marine insurance underwriters will include "time element" coverage in such policies, which extends the indemnity to cover loss of profit and other business expenses attributable to the delay caused by a covered loss.
   • Supplemental natural disaster insurance covers specified expenses after a natural disaster renders the policyholder's home uninhabitable. Periodic payments are made directly to the insured until the home is rebuilt or a specified time period has elapsed.
   • Surety bond insurance is a three-party insurance guaranteeing the performance of the principal.
   • Terrorism insurance provides protection against any loss or damage caused by terrorist activities. In the US in the wake of 9/11, the Terrorism Risk Insurance Act 2002 (TRIA) set up a federal Program providing a transparent system of shared public and private compensation for insured losses resulting from acts of terrorism. The program was extended until the end of 2014 by the Terrorism Risk Insurance Program Reauthorization Act 2007 (TRIPRA).
   • Volcano insurance is a specialized insurance protecting against damage arising specifically from volcanic eruptions.
   • Windstorm insurance is an insurance covering the damage that can be caused by wind events such as hurricanes.

7. Liability Insurance

   
   
   Liability insurance is a very broad superset that covers legal claims against the insured. Many types of insurance include an aspect of liability coverage. For example, a homeowner's insurance policy will normally include liability coverage which protects the insured in the event of a claim brought by someone who slips and falls on the property; automobile insurance also includes an aspect of liability insurance that indemnifies against the harm that a crashing car can cause to others' lives, health, or property. The protection offered by a liability insurance policy is twofold: a legal defense in the event of a lawsuit commenced against the policyholder and indemnification (payment on behalf of the insured) with respect to a settlement or court verdict. Liability policies typically cover only the negligence of the insured, and will not apply to results of wilful or intentional acts by the insured.
   
   • Public liability insurance covers a business or organization against claims should its operations injure a member of the public or damage their property in some way.
   • Directors and officers liability insurance (D&O) protects an organization (usually a corporation) from costs associated with litigation resulting from errors made by directors and officers for which they are liable.
   • Environmental liability insurance protects the insured from bodily injury, property damage and cleanup costs as a result of the dispersal, release or escape of pollutants.
   • Errors and omissions insurance (E&O) is business liability insurance for professionals such as insurance agents, real estate agents and brokers, architects, third-party administrators (TPAs) and other business professionals.
   • Prize indemnity insurance protects the insured from giving away a large prize at a specific event. Examples would include offering prizes to contestants who can make a half-court shot at a basketball game, or a hole-in-one at a golf tournament.
   • Professional liability insurance, also called professional indemnity insurance (PI), protects insured professionals such as architectural corporations and medical practitioners against potential negligence claims made by their patients/clients. Professional liability insurance may take on different names depending on the profession. For example, professional liability insurance in reference to the medical profession may be called medical malpractice insurance.

8. Credit

   
   
   Credit insurance repays some or all of a loan when certain circumstances arise to the borrower such as unemployment, disability, or death.
   
   • Mortgage insurance insures the lender against default by the borrower. Mortgage insurance is a form of credit insurance, although the name "credit insurance" more often is used to refer to policies that cover other kinds of debt.
   • Many credit cards offer payment protection plans which are a form of credit insurance.
   • Trade credit insurance is business insurance over the accounts receivable of the insured. The policy pays the policy holder for covered accounts receivable if the debtor defaults on payment.

9. Other Types Insurance

   
   
   
   • All-risk insurance is an insurance that covers a wide range of incidents and perils, except those noted in the policy. All-risk insurance is different from peril-specific insurance that cover losses from only those perils listed in the policy.^[25] In car insurance, all-risk policy includes also the damages caused by the own driver.
   • Bloodstock insurance covers individual horses or a number of horses under common ownership. Coverage is typically for mortality as a result of accident, illness or disease but may extend to include infertility, in-transit loss, veterinary fees, and prospective foal.
   • Business interruption insurance covers the loss of income, and the expenses incurred, after a covered peril interrupts normal business operations.
   • Collateral protection insurance (CPI) insures property (primarily vehicles) held as collateral for loans made by lending institutions.
   • Defense Base Act (DBA) insurance provides coverage for civilian workers hired by the government to perform contracts outside the US and Canada. DBA is required for all US citizens, US residents, US Green Card holders, and all employees or subcontractors hired on overseas government contracts. Depending on the country, foreign nationals must also be covered under DBA. This coverage typically includes expenses related to medical treatment and loss of wages, as well as disability and death benefits.
   • Expatriate insurance provides individuals and organizations operating outside of their home country with protection for automobiles, property, health, liability and business pursuits.
   • Kidnap and ransom insurance is designed to protect individuals and corporations operating in high-risk areas around the world against the perils of kidnap, extortion, wrongful detention and hijacking.
   • Legal expenses insurance covers policyholders for the potential costs of legal action against an institution or an individual. When something happens which triggers the need for legal action, it is known as "the event". There are two main types of legal expenses insurance: before the event insurance and after the event insurance.
   • Livestock insurance is a specialist policy provided to, for example, commercial or hobby farms, aquariums, fish farms or any other animal holding. Cover is available for mortality or economic slaughter as a result of accident, illness or disease but can extend to include destruction by government order.
   • Media liability insurance is designed to cover professionals that engage in film and television production and print, against risks such as defamation.
   • Nuclear incident insurance covers damages resulting from an incident involving radioactive materials and is generally arranged at the national level. (See the nuclear exclusion clause and for the US the Price-Anderson Nuclear Industries Indemnity Act.)
   • Pet insurance insures pets against accidents and illnesses; some companies cover routine/wellness care and burial, as well.
   • Pollution insurance usually takes the form of first-party coverage for contamination of insured property either by external or on-site sources. Coverage is also afforded for liability to third parties arising from contamination of air, water, or land due to the sudden and accidental release of hazardous materials from the insured site. The policy usually covers the costs of cleanup and may include coverage for releases from underground storage tanks. Intentional acts are specifically excluded.
   • Purchase insurance is aimed at providing protection on the products people purchase. Purchase insurance can cover individual purchase protection, warranties, guarantees, care plans and even mobile phone insurance. Such insurance is normally very limited in the scope of problems that are covered by the policy.
   • Title insurance provides a guarantee that title to real property is vested in the purchaser and/or mortgagee, free and clear of liens or encumbrances. It is usually issued in conjunction with a search of the public records performed at the time of a real estate transaction.
   • Travel insurance is an insurance cover taken by those who travel abroad, which covers certain losses such as medical expenses, loss of personal belongings, travel delay, and personal liabilities.
   • Tuition insurance insures students against involuntary withdrawal from cost-intensive educational institutions
   • Interest rate insurance protects the holder from adverse changes in interest rates, for instance for those with a variable rate loan or mortgage

10. Insurance Financing Vehicles

    
    
    
    • Fraternal insurance is provided on a cooperative basis by fraternal benefit societies or other social organizations.
    • No-fault insurance is a type of insurance policy (typically automobile insurance) where insureds are indemnified by their own insurer regardless of fault in the incident.
    • Protected self-insurance is an alternative risk financing mechanism in which an organization retains the mathematically calculated cost of risk within the organization and transfers the catastrophic risk with specific and aggregate limits to an insurer so the maximum total cost of the program is known. A properly designed and underwritten Protected Self-Insurance Program reduces and stabilizes the cost of insurance and provides valuable risk management information.
    • Retrospectively rated insurance is a method of establishing a premium on large commercial accounts. The final premium is based on the insured's actual loss experience during the policy term, sometimes subject to a minimum and maximum premium, with the final premium determined by a formula. Under this plan, the current year's premium is based partially (or wholly) on the current year's losses, although the premium adjustments may take months or years beyond the current year's expiration date. The rating formula is guaranteed in the insurance contract. Formula: retrospective premium = converted loss + basic premium � tax multiplier. Numerous variations of this formula have been developed and are in use.
    • Formal self-insurance is the deliberate decision to pay for otherwise insurable losses out of one's own money.^{[citation needed]} This can be done on a formal basis by establishing a separate fund into which funds are deposited on a periodic basis, or by simply forgoing the purchase of available insurance and paying out-of-pocket. Self-insurance is usually used to pay for high-frequency, low-severity losses. Such losses, if covered by conventional insurance, mean having to pay a premium that includes loadings for the company's general expenses, cost of putting the policy on the books, acquisition expenses, premium taxes, and contingencies. While this is true for all insurance, for small, frequent losses the transaction costs may exceed the benefit of volatility reduction that insurance otherwise affords.^{[citation needed]}
    • Reinsurance is a type of insurance purchased by insurance companies or self-insured employers to protect against unexpected losses. Financial reinsurance is a form of reinsurance that is primarily used for capital management rather than to transfer insurance risk.
    • Social insurance can be many things to many people in many countries. But a summary of its essence is that it is a collection of insurance coverages (including components of life insurance, disability income insurance, unemployment insurance, health insurance, and others), plus retirement savings, that requires participation by all citizens. By forcing everyone in society to be a policyholder and pay premiums, it ensures that everyone can become a claimant when or if he/she needs to. Along the way this inevitably becomes related to other concepts such as the justice system and the welfare state. This is a large, complicated topic that engenders tremendous debate, which can be further studied in the following articles (and others):
      • National Insurance
      • Social safety net
      • Social security
      • Social Security debate (United States)
      • Social Security (United States)
      • Social welfare provision
    • Stop-loss insurance provides protection against catastrophic or unpredictable losses. It is purchased by organizations who do not want to assume 100% of the liability for losses arising from the plans. Under a stop-loss policy, the insurance company becomes liable for losses that exceed certain limits called deductibles.

11. Closed Community sSelf-Insurance

    
    
    Some communities prefer to create virtual insurance amongst themselves by other means than contractual risk transfer, which assigns explicit numerical values to risk. A number of religious groups, including the Amish and some Muslim groups, depend on support provided by their communities when disasters strike. The risk presented by any given person is assumed collectively by the community who all bear the cost of rebuilding lost property and supporting people whose needs are suddenly greater after a loss of some kind. In supportive communities where others can be trusted to follow community leaders, this tacit form of insurance can work. In this manner the community can even out the extreme differences in insurability that exist among its members. Some further justification is also provided by invoking the moral hazard of explicit insurance contracts.
    In the United Kingdom, The Crown (which, for practical purposes, meant the civil service) did not insure property such as government buildings. If a government building was damaged, the cost of repair would be met from public funds because, in the long run, this was cheaper than paying insurance premiums. Since many UK government buildings have been sold to property companies, and rented back, this arrangement is now less common and may have disappeared altogether.

Everybody Need An Insurance Protection

Not only the employees alone, everybody need at Protection, along with the increasing competitiveness in the diverse range of businesses and professions, everyone involved needs to have its own skills to be successful.

The demands of work with maximum effort as efficiently as possible to be ideal in every field of business actors.

On the other hand, the more competitive services or products sold, the greater the chances of getting a wider market niche.

Success penetration services or products on the market by qualified professionals, always contains the risk of the unexpected.

We contemplate for a moment, the success of professionals in supporting the success of the sale of services or products on the market is always risky.

That is, there are many unexpected events and it can be bad behind the interrelated processes between products, production processes, and people involved in it.

Reflections it boils down to a protection mechanism that can protect anyone in any activity in which full of unexpected risks.

As a company, of course, preventive measures to ensure the safety of employees becomes very important for the future if things happen that are not desired, life insurance or health coverage as an umbrella to protect. And this is very much needed by all workers in the company.

Individually, anyone who buys a life insurance product will get protection from future events.
Not only the employees of one company, a merchant, for example, what would happen if in the midst of a sudden its stores on fire, and the incident casualties?

Or, what would happen if occur aircraft accident and the passengers are not protected by life insurance products?
How did the journey of family life following the tragic victims of the plane, if they do not get the protection of life insurance?

In corporative, the company has good management, it is definitely going to protect their employees, this is to protect the company from the emergence of the huge cost incurred when things happen unexpectedly, such as the case of an accident or death of an employee of the company.

Even for individuals who have their own businesses also still need a protection for themselves and for their businesses.
The diversity of the profession with the support of a variety of life insurance products will create a sense of comfort for the insured, while that which can be obtained as follows:

*First, the insured can work to its full potential without worrying about the risks that may arise as a result
of   the routine and the complexity of the profession that they do.
*Second, the families also can think calmly as he continued to hope that the insured can perform optimally and achieve a better career path from time to time.
*Third, if the insured is an employee of a company, which benefited the company where he works.

The corporative protection can reduce costs significantly when the company in question had unforeseen events during the running of the company's duties.
Or, if the insured is an entrepreneur or entertainer, he can get the maximum protection of unexpected events in the middle of the profession that they do.

For instance if an insured is committed to allocate some money to pay the premiums on a regular basis, it was moment also got the long-term benefit.

Life insurance and protection in it, should be part of the existence of a variety of professions, so they are protected financially from the unexpected.

Description above proves that diverse professions require any protection.
As a note, as a professional, whether employees, employers, or the entertainer take out life insurance products, there are actually people nearby who also enjoy the effects of such protection, the husband, wife, or children in question is called the insured or expert inheritance, which will be beneficial for the survival of the family.
Thereby, despite the loss of a beloved family, but the benefits of life insurance is still obtained.

The Most Expensive Insurance Fraud Cases You Need To Know

There are 2 varieties of insurance fraud: soft and onerous. Soft insurance fraud is once the common person tries to pad their claim to get a little bit of additional payment money.

This often goes unnoticed by an insurance company so it�s hard to tell just what quantity harm it really causes. However, one issues that's measurable is hard insurance fraud. Whether committed by an private or an organized crime group, it takes its toll on consumers and insurance companies. several of those criminals are caught as a result of such large sums of cash are involved and a lot of money.

The following 11 insurance fraud scams aren�t your typical insurance fraud scams along they have enough money to take care of several small countries. Forget faux whiplash claims � these cases of insurance fraud make those apear as if kid play. Here are just some of the worst insurance fraud cases of all time and the pricetag of each, most involving the exact people you wouldn�t expect it from, like doctors, lawyers, and even insurance professionals themselves.

11 Insurance Fraud Cases

1.Hospital Corporation of America Healthcare Fraud: $631 million
   In many of these cases, it�s the insurance company being defrauded, but in the case of the Hospital Corporation of America, it was you and me. This was a network of hospitals that handled a large number of Medicare cases in the 1990s. Just like the average Joe who needs an extra $200 from his claim, HCA lied a little here, a little there, and what a tangled web they weaved. Before anyone noticed, they�d racked up more than $600 million from fraudulent claims, paid by taxpayers. HCA paid $2 billion in civil lawsuits. Insurance fraud affects everyone that isn�t involved. The actions of just a few can have a far-reaching effect. As a prosecutor so appropriately said at one point in the Unity Outpatient Surgery case, the severity of insurance fraud is comparable to stealing $50 from everyone in Orange County, Calif. � which also happens to be the amount all of the Real Housewives of Orange County have spent on ways allowing them to be �fraudulent� in their own way. Compared to these cases though, there�s not much there�s not one thing fraudulent about them.

2.Rabbi Sholam & National Heritage Insurance Company: $450 million
   Big city. Big lights. Big crime. New Yorker Rabbi Sholam Weiss of Brooklyn was responsible for the biggest insurance company collapse due to fraud ever. Weiss sharpened his skills as a con man with his own personal business, but when opportunity knocked, Weiss answered. With several other business owners and lawyers, a team of con artists bought National Heritage and took it for all it was worth. After authorities became suspicious, an investigation was launched, but Weiss fled the country. Fortunately, he was found and is now serving 845 years in prison � the longest sentence ever given for a white-collar crime. Big sentence in the Big Apple.

3.�Russian Mike� the Poker-Playing Auto Insurance Fraudster: $275 million
   �Russian Mike,� or Mikhail Zemlyansky, was a great poker player, but apparently had a horrible poker face. It certainly wasn�t his game either, and when he decided to try his hand at insurance fraud, the odds were stacked against him. Taking advantage of the no-fault automobile law and employing doctors and lawyers, multiple claims were submitted for unneeded tests and procedures. Personal injury lawsuits also helped the team gain money but NYPD undercover officers were the beginning of the end, with Zemlyansky folding.

4.National Medicare Scam with Fake HIV Clinics: $250 million
Another Medicare scam that swept the country cost millions of dollars and involved doctors, nurses, and medical professionals � you know, those people who take a Hippocratic Oath? A national scam, it affected most major cities, and in Detroit, scammers even developed fake HIV clinics. People came in and paid for care that couldn�t even help them, continuing for months. The scam was eventually shut down and numerous individual cities prosecuted the criminals.

5.Martin Frankel & Liberty National Insurance: $200 million
   Martin Frankel was determined to do things a little differently and wanted to be a trendsetter. Instead of committing insurance fraud the old-fashioned way, he thought he�d found a foolproof way to commit fraud � he just outright bought the insurance companies he used to scam policyholders with. He promised policyholders he�d turn their portfolios around to give them better returns, but instead, he just took their money and turned it into money in his own pockets. He placated the others with false reports until state regulators became suspicious. Frankel had been using Liberty National as a front for his cash holdings and was eventually put in prison where he now only sees the lock on his jail cell turned.

6.Unity Outpatient Surgery Center Health Insurance Scam: $154 million
   Talk about unity. In the Unity Outpatient Surgery Center scam, a group of people worked together to bill medical insurance companies for $154 million. The participants recruited more than 2,500 healthy people and convinced them to have surgeries they didn�t need, and afterwards the patients would receive cash payments. The thread began to unravel as several surgery centers were charged with fraud, and once investigations started, charges were filed.

7.Health Care One, United Benefits, & Consumer Health Benefits: $100 million
   Health insurance is a huge target for insurance scammers as it offers high limits and a multitude of various claims that can be filed. They may say three�s a crowd, but the three companies that took advantage of many families apparently had no problem working together. This trio ended up earning more than $100 million. The three companies, Health Care One, United Benefits, and Consumer Health Benefits, told their customers they were buying major medical insurance when in fact, they only gave them medical discount cards, similar to those you can pick up at the corner of Happy and Healthy (aka Walgreens). When customers finally received medical bills that hadn�t been paid for at all, the scam was revealed, but to this day, nobody has been arrested and although the victims still have to pay, they haven�t started to yet.

8.Houston Mortgage Insurance Fraud Ring: $40 million
   In 2007 in Houston, Texas, eight people thought it would be a good idea to commit mortgage insurance fraud. It took a team of real estate agents, loan officers, homeowners, and 300 homes to do so, but the super-sized crime ring managed to pull it off � for a while. The Houston-based FBI mortgage fraud unit finally caught on to their schemes, and they were subsequently charged and put behind bars, where they no longer have to worry about mortgages.

9.Michael Petronella & Devon Kile in Workers Comp Fraud: $38+ million
   It�s pretty expensive to live anywhere in California � you pay big time for that sunshine and nice weather. It must have been too expensive though for two men responsible for the biggest workman�s comp insurance fraud case in California. Michael Petronella and Devon Kile were able to enjoy the money for a little while, running three companies which allowed them to file multiple bogus claims. Additionally, they didn�t report an accurate number of employees, and underreported their income for several years. Because of that, they enjoyed quite a few homes and expensive cars, and it also paid for the ultimate getaway � prison.

10.Dr. Jorge Martinez & Health Insurance Fraud: $12 million
    Dr. Jorge Martinez was a dirty physician, plain and simple. By submitting false claims for prescription drugs and expensive tests that he never prescribed or performed, Martinez attempted to collect $60 million from insurance companies. Poor Dr. Martinez only managed to get $12 million, but it was still insurance fraud and still significant at that. According to his claims, he was seeing 100 patients per day. Now he�s only seeing bars and cellmates.

11.Tamiami Medical Supply Inc. & Medicare Fraud: $7.4 Million
    Federal programs are often taken advantage of by those looking to skim a few dollars off the top and Justo Padron was doing just that. His medical supply business, Tamiami Medical Supply Inc. was abusing the system and once authorities caught on, he had scammed Medicare out of $7.4 million. He was caught by police while burglarizing a vehicle and they chased him into an alligator-filled lake. His body was found the next day. He must have known crocodile tears wouldn�t get him out of that one.

Get a Lower Car Insurance Quote

If you are thinking of buying an insurance coverage for your car, then you have to make sure that you know exactly how to shop around for the lowest quotes.  But it is important for you to avoid compromising the quality of a specific coverage in exchange for a low price.  Look for an affordable auto insurance which has a good coverage. This will allow you to receive the kind of financial assistance that you need in case your car gets damaged.  The following tips can help you find lower insurance quotes for your car without sacrificing the quality of your choices:

1.  Check your credit reports and improve your credit rating first.  Note that your credit history and score can have a huge impact on the kind of car insurance quotes that you will receive.  If your credit score is high, then expect to receive lower quotes.  If you have a poor credit score, then it is advisable for you to raise it first before you start applying for car insurance.  Among the many things that you can do to improve your credit score are keep your credit card balances low, avoid missing bill payments, avoid defaulting when it comes to paying your debts, avoid opening more credit lines if not necessary and monitor your credit reports and ratings periodically.  It is also advisable for you to dispute any inaccurate information that you think have caused your credit rating to go down. This is a major help in instantly raising your score, thereby increasing your chances of getting lower car insurance quotes.

2.  Provide insurance companies with essential details.  You have to make sure that you supply insurance companies with the kind of details that they are asking for.  These include your marital status, your zip code, safety features of your car and the commuting miles of your car per year.  If you do not supply all these information, then there is a great tendency for insurance companies to provide you with higher car insurance rates.  Make it a point to supply insurers with more details as this is a major help in qualifying for discounts.

 3.  Do comparison shopping.  You should consider using the different websites online that offer services in terms of comparing insurance quotes.  Bear in mind that you can actually get a substantial amount of savings every year by comparing the rates of different insurance companies.  It is also advisable for you to include the company where you get your other insurance in your list of choices.  It is because this company may be capable of providing you with lower rates since you are already one of their clients.  Aside from that, you can also easily negotiate for the rates of Raleigh Bikes.

4.  Add devices into your car that can help prevent theft.  Among these devices are tracking systems and car alarms.  By installing these anti-theft devices into your vehicle, you get the chance to avail of great discounts.  You should also know that enrolling in a defensive driving class can help in reducing the amount that you need to pay for your premiums.  All these can help reduce the chances of your vehicle from being stolen so expect different insurance companies to provide you with lower quotes.

You can get to know more Information here.

Health Insurance

How To Save on Health Insurance

With health care costs soaring through the roof, the cost of health insurance premiums are increasing as well. Health insurance is a necessity, however, when you consider the costs of one visit to the emergency room, surgery to set a broken bone, scans, lab and other costs. When your budget is limited, how can you keep the costs of your health insurance premiums down? There are several steps you can take to reduce your health insurance costs and still maintain adequate medical coverage when you need it.

First step is to consider what health insurance options you have. Does your employer offer a group medical benefit? Many employers (and/or labor unions) offer health benefits to full-time employees. Group health insurance is usually the cheapest way to get medical coverage; an employer can negotiate with health insurance companies to get a group health plan at cheaper rates. In addition, many employers will pay part of the premium, reducing your health insurance cost even further. Another consideration is whether your spouse has health coverage available through their employer? If so, compare your health benefits plan to that of your spouse, and decide which health plan is the better buy. It may be possible to have one spouse carry family health insurance coverage and the other drop their health benefits. Many employers have multiple health insurance options, so review these plans as well. Choose the health plan that best meets your needs at the cheapest rate.

If no health insurance coverage is available through your employer, there are other ways to obtain health insurance coverage. Individual and family private health insurance policies are available. Shop and compare benefits and premiums from each health insurance plan. If you and your family are generally healthy, the new Health Savings Account (HSA) may be worth consideration. The HSA is an account that allows you to save tax-free dollars for your medical/health expenses.

Similar to an Individual Retirement Account (IRA), you are limited in the amount that you are allowed to contribute each year; however, with the HSA, withdrawals for health expenses are not penalized, and no tax is paid on the withdrawal.

When paired with a health insurance policy that has high deductibles and low rates, the HSA may be ideal for you. Save money in the HSA for deductibles and co-pays, and you're set.

For those over 65 or permanently disabled, Medicare is available through the federal government. The original Medicare is an 80/20 plan (they pay 80% of eligible expenses and the insured pays 20%) with an annual deductible and a monthly premium. Supplemental health plans are available to cover this deductible and co-pay. These supplemental health plans are usually private and the insured pays a premium. In addition to the original Medicare plan, there are Medicare HMOs.

In these Medicare HMO health plans, the Medicare premium is paid to an HMO to provide benefits to the insured. HMO plans are more restrictive in that patients must get care through a network provider, but often these plans cover more prescription drugs and preventive care than original Medicare does.

Recently some employers have offered lower premiums to employees who do not smoke cigarettes. This is currently a controversial topic for some, but it certainly may begin a trend. In the future, employers and their health insurance providers could offer reduced premiums for employees who maintain normal weight, exercise regularly, and receive certain wellness benefits. Maintaining a healthy lifestyle lowers the risk to the health insurance company that they will be paying big bucks in health care down the road. And health insurance, as any other insurance, is all about risk.