Many times, People use the terms Health Insurance and Medical Insurance interchangeably. It is because they do not know that both terms hold significant differences. Let us try and understand the difference between Health Insurance and Medical Insurance. Health Insurance Health Insurance is a type of insurance that covers the monetary expenses of an insurer … Read more What is the Difference between Health Insurance and Medical Insurance?
Life Insurance is a contract between an individual (generally the policyholder) and the insurance company (the insurer) where the insurer pays a predefined sum of money to the beneficiary after the death of the policyholder. The sum of money paid to the beneficiary is in exchange for the annual premiums paid by the policyholder. Having … Read more How Does Life Insurance Work?
In the USA, Insurance Companies are regulated by the respective States. It regulates and monitors the activities of all the insurance companies that lie in that particular state’s jurisdiction. Gradually the influence is shifting to a federal regulatory body. An insurance company agrees to bears the risk in whole or part for the policy holder … Read more How Does an Insurance Company Make Money?