Insurance is designed to transfer the financial impact of a loss from an individual or company to an insurance company. In exchange for the protection (agreement of indemnification) of the insurance company, an insured must pay premiums. Property and Casualty Insurance Contracts are indemnification contracts. Indemnification means to restore a person to his or her […]
How might a business benefit from different types of Disability insurance policies? Buy-Out, a.k.a. Buy-Sell, is an agreement to buy out the interest of a partner or a persons’ interest in a firm, following a disability. A Disability Income policy would fund the buy-out agreement. Disability Buy-Sell coverage can be designed to provide benefits to […]
How is a Flexible Spending Account different from a Health Savings Account? Flexible Spending Accounts (FSAs) allow employees to be reimbursed for medical expenses. FSAs are usually funded through voluntary salary reduction agreements with an employer. No federal income taxes are deducted from the employee’s contribution. The employer may also contribute. The benefits of the […]
A Sneak Peek inside the Property Insurance Course (Part 1):
Insurance is designed to transfer the financial impact of a loss from an individual or company to an insurance company. In exchange for the protection (agreement of indemnification) of the insurance company, an insured must pay premiums. Property and Casualty Insurance Contracts are indemnification contracts. Indemnification means to restore a person to his or her […]
A Sneak Peek inside the Disability Insurance Course (Part 3):
How might a business benefit from different types of Disability insurance policies? Buy-Out, a.k.a. Buy-Sell, is an agreement to buy out the interest of a partner or a persons’ interest in a firm, following a disability. A Disability Income policy would fund the buy-out agreement. Disability Buy-Sell coverage can be designed to provide benefits to […]
A Sneak Peek inside the Disability Insurance Course (Part 2):
How is a Flexible Spending Account different from a Health Savings Account? Flexible Spending Accounts (FSAs) allow employees to be reimbursed for medical expenses. FSAs are usually funded through voluntary salary reduction agreements with an employer. No federal income taxes are deducted from the employee’s contribution. The employer may also contribute. The benefits of the […]