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Vanessa Said:

best insurance company for group accidental policy?

We Answered:

You posted to the USA board, but you're suggesting Indian currancy. Ooops.

There's no "one size fits all" best. And there's no short cut. You have to shop around to see what's best for your group.

Enrique Said:

need new auto insurance policy; have history of non accidental damage to rental car

We Answered:

They will find out anyways since they run your driving record.

If the claim was paid under comprehensive then they thought it was a vandalism claim. Otherwise if you did it, it would be a collision claim.

So, I think you got lucky. Comprehensive would probly not count against you, only collision would. But don't mention it, let them figure it out and let you know.

Licensed Agent

Jesse Said:

Suggested by mail Accidental Death & Dismemberment Insurance looks very cheap. Why? Hidden fees?

We Answered:

No hidden fees, but the probability of an accidental dismemberment or accidental death is usually low, so the insurance companies usually make money on these policies. Remeber the key word here is accidental. Not from any disease. I would review the policy to see if the payout would apply to accidents on the job.

Delores Said:

Home owners insurance?

We Answered:

I am very sorry for your loss.

However, your homeowners insurance will not pay off your house.

Homeowners insurance only pays for damage to your home that is caused by a sudden and accidental occurrence. Such as hail damage to your roof, fire, tree falls on the house. In which case, the homeowners coverage pays to repair the damage.

Again, I am very sorry for your loss.

Juan Said:

Poll: if you wanted to save more money, which would you chose to cut?

We Answered:

internet...cause if something happens to you you are going to need that medical support. God knows I could barely pay the co-pay/Out of Pocket maximum to have my last baby in a hospital and this was WITH insurance. Hate to think what it would have cost without it.

Naomi Said:

How do i solve this statistical probability question using excel?

We Answered:

Hi

A first answer to this probability question is as follows:

The insurance company will pay 40,000 with a probability of .005. The expected value of this coverage is 40,000 x .005 = $200.
Same for the damages, 10,000 x .1 = $1,000 and 20,000 x .01 = $200.
The insurer therefore expects to pay 200 + 1,000 + 200 = 1,400. If the deal is fair (no loading, risk premium...), that is the premium you will be willing to pay.

In Excel:
= 40000 * .005 + 10000 * .1 + 20000 x .01

You may want to refine for 2 things:

1. The discount: We can assume that the car damage will happen at mid year, while you pay your premium upfront. Thus, the insurer can put the premium on an bank account and earn interest for 6 months (say at 4%). You would adjust the premium as follows:
= 1400 / (1 + 4%/2)
Which gives $1,373

2. The deductible. If it is, say, $2,000
= (40000-2000) * .005 + (10000-2000) * .1 + (20000-2000) x .01
This deductible (5% of the car's price) reduces your premium to $1,170 (as much as 16%).

Roy Said:

Supplemental health insurance benefit taxable?

We Answered:

i think that it's just like any other health insurance...the premiums are deductible medical expenses and the benefits will reduce your out of pocket med expenses...the difference should be deductible to the extent that it exceeds 7.5% of your adjusted gross income.