Q. I had active insurance until November 2010. Now, the insurance company is saying that it was actually cancelled through my husband's company in June and are requesting the monies back from doctors. However, they didn't even send out COBRA information to me until November 23. Can they do this?
A. How, exactly, did it come to be that your husband's company cancelled his insurance in June?
If the EMPLOYER cancelled the group plan, and no longer has health insurance, then there IS no cobra. Cobra is just a CONTINUATION of whatever the people still employed, have for insurance. If they have nothing, there's nothing to continue.
If the employer sends the COBRA information late, the date they mailed it, starts the clock ticking on the 60 days you have to accept or decline. So, you're within DAYS, and if you WANT to keep it, you can - the catch is, you have to RETROACTIVELY pay your premium for the insurance. There's no "free insurance". So, that would be July through January, and February's payment would be due February 1st.
Yes, they can do this. They're SUPPOSED to notify you within 45 days. Their failure to do that, gives you EXTRA TIME to decide if you want to keep it or not.
If the EMPLOYER cancelled the group plan, and no longer has health insurance, then there IS no cobra. Cobra is just a CONTINUATION of whatever the people still employed, have for insurance. If they have nothing, there's nothing to continue.
If the employer sends the COBRA information late, the date they mailed it, starts the clock ticking on the 60 days you have to accept or decline. So, you're within DAYS, and if you WANT to keep it, you can - the catch is, you have to RETROACTIVELY pay your premium for the insurance. There's no "free insurance". So, that would be July through January, and February's payment would be due February 1st.
Yes, they can do this. They're SUPPOSED to notify you within 45 days. Their failure to do that, gives you EXTRA TIME to decide if you want to keep it or not.
How can a Nationwide insurance agency discriminate aganist a breed of dog trying to obtain homeowners insuranc
Q. Nationwide insurance is discriminatory aganist pit bulls as they do not give quotes or cover homeowners for homeowners insurance if you have a pit bull. I hate bad owners that make it so hard for good owners and good pit bulls, it's absurd!!!! Are there other insurance agencies that do this wrongful act too???
A. I have to say, I support the insurance company on this one. They have to manage risk, and part of that risk the dogs people own. Unfortunately, there are quite a few really bad pit owners out there. Don't blame the insurance company, blame the irresponsible owners.
Besides, to make a comparison- a regular doc's malpractice insurance is about a fraction of what it is for a ob- have you ever wondered why there seem to be a larger number of docs getting OUT of the baby business? Used to, all gyns did OB, now, that number keeps dropping. Mostly because they can't afford to pay the insurance AND deliver babies. Are the insurance companies discrminiating against OB's?
Besides, to make a comparison- a regular doc's malpractice insurance is about a fraction of what it is for a ob- have you ever wondered why there seem to be a larger number of docs getting OUT of the baby business? Used to, all gyns did OB, now, that number keeps dropping. Mostly because they can't afford to pay the insurance AND deliver babies. Are the insurance companies discrminiating against OB's?
How do undergraduate students work at insurance company as sales agent or recruiter?
Q. Would Insurance companies require insurance license for all staff for earning commission and everything? I know students can work anywhere but what about insurance company?
A. If you are going to be selling any type of insurance you have to be licensed. That means you have to be an adult. Some states have different age requirements to be an agent, such as 18 or 21, whatever your state requires. Getting the license is not easy. You have to undergo a very thorough background search including credit check, drug test, criminal background check, meet educational requirements, maybe take a physical exam. Also, they generally want someone who is married. Insurance companies only want to hire the best people to represent them.
You can get a temporary 90 day license while they are doing the investigations. You have to complete a training course and gain practical experience by accompanying a sales manager out in the field while he sells insurance. The sales managers are the ones who do the recruiting.
There are usually at least 2 kinds of licenses, life/health, and property/casualty. The license is sponsored by the insurance company, which is usually exclusive unless you are a broker. That means you can only represent that one company that is sponsoring your license. And in order to get the license you have to take a state exam which takes about 4 hours and is not easy.
If you worked in the home office of the insurance company such as the accounting or underwriting departments, you would not have to be licensed.
If you're considering becoming a life insurance agent you should know that the drop out rate for the first year is 95% and for the second year is 99%. It's an extremely tough way to earn a living.
You can get a temporary 90 day license while they are doing the investigations. You have to complete a training course and gain practical experience by accompanying a sales manager out in the field while he sells insurance. The sales managers are the ones who do the recruiting.
There are usually at least 2 kinds of licenses, life/health, and property/casualty. The license is sponsored by the insurance company, which is usually exclusive unless you are a broker. That means you can only represent that one company that is sponsoring your license. And in order to get the license you have to take a state exam which takes about 4 hours and is not easy.
If you worked in the home office of the insurance company such as the accounting or underwriting departments, you would not have to be licensed.
If you're considering becoming a life insurance agent you should know that the drop out rate for the first year is 95% and for the second year is 99%. It's an extremely tough way to earn a living.
What kind of insurance do insurance companies need to buy for their own company?
Q. I want to start an insurance company, but I need to know what kind of insurance I need to purchase for my own company. I have done research and can't find this. (Please do not tell me how to start one, or anything else besides what insurance I need, if any.)
A. Do you want to start an insurance company or an insurance agency? There is a difference. I'm guessing you want to start an agency because if you had the millions of dollars needed to start an insurance company you'd have the knowledge already or at least the money to hire someone who knew.
For an agency you'll need E & O insurance. Also, depending on your situation you'll need a business general liability and property coverage. You'll need business auto or at least a business classification on your auto insurance if you have vehicles. If you hire someone you'll need workman's comp and possibly health insurance, disability, etc. for the employees.
For an agency you'll need E & O insurance. Also, depending on your situation you'll need a business general liability and property coverage. You'll need business auto or at least a business classification on your auto insurance if you have vehicles. If you hire someone you'll need workman's comp and possibly health insurance, disability, etc. for the employees.
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