conclusion about insurance
On the other hand, a intermediary is someone who solicits tactful business or invites potential customers to enter into tactful contracts with operators. Take the time to shop around and find the right insurance for your situation. cold turkey. The Committee recognizes, however, that high out-of-pocket medical bills can be damaging to families at almost any income level, whether or not they are insured. ..... 46 2.10FiguresandTables ..... 48 III. Further, provision of preventive care to children can have beneficial long-term effects that extend beyond health, so that society can reap the rewards in the future. The conclusion on the principles of insurance is a very integral part of any personal financial plan. Higher premiums, copayments, and deductibles are likely to result in fewer employees deciding they can afford to take up the offer of coverage for themselves and their families. The lack of insurance of any family member has the potential to affect the financial and emotional well-being of all members of the family. Take, for example, Because families with at least one uninsured member tend to have lower incomes than do fully insured families, along with very few assets, they generally have fewer financial resources to help cope with these higher expenses. The Committee’s second report, Care Without Coverage: Too Little, Too Late, shows that the 30 million adults without coverage, many of whom are parents, are less likely to receive appropriate, timely care, particularly for chronic illnesses and certain life-threatening conditions, such as cancer, than are insured adults. Also, minority population families are more likely to be wholly uninsured or have some members without coverage than are other families. People often say they cannot afford insurance, but the reality is that they cannot afford not to have it. In fact, some health conditions and certain chronic illnesses can precipitate early retirements, either for the worker to care for an ill spouse or because work is no longer possible for the ill member of the family. Federal programs have expanded coverage to children, but insuring children may not be enough. Not only may parental coverage be an important determinant of children’s access to care, it also can affect the parents’ health. Uninsured women and their newborns receive, on average, less prenatal care and fewer expensive perinatal services. When uninsured families are affected by illness or injury, they are also more likely to have high health expenses relative to income. It can save them from thousands or more dollars in unplanned expenses when unexpected situations arise. The whole family can be affected by any member’s lack of insurance. Many of the transitions are unavoidable or unpredictable and result in loss of coverage. Parents’ insurance status is an important determinant of their children’s insurance and health care. Among married, childless couples, an additional 3.7 million family units have one or both members uninsured. This development increases the opportunity for some adults to receive coverage as dependents. The point of insurance is to aid in reducing risks and spreads the risk from the individual to a larger community which diminishes the risk that every insurance policyholders will have losses … The families in which some or all members lack insurance disproportionately include those with lower income, a single parent, and racial and ethnic minorities. Insurance agents, insurance brokers and financial advisers are insurance intermediaries. Conclusions 1. Nonetheless, studies demonstrate that parents delay seeking care for their uninsured children. Many of the health and developmental implications of the reduced access to and use of services by uninsured children may not become apparent on a population-wide basis, at least not for many years, because most children tend to be healthy and have many fewer chronic conditions than their elders. In Chapter 5, the Committee shows that parents’ own use of health care, including whether they have a usual source of care and are connected to the health care system, are powerful predictors of their children’s use of services. You do not want to waste your money on policies that do not meet your needs, but the right insurance policy can protect you and your family from unforeseen disasters. Evidence of improvements in outcomes for newborns based on measures of overall population insurance coverage is mixed. Chapter 6 of this report presents strong evidence that insured children have better access to and use more health care services than do uninsured children. Approximately 20 million children are currently covered by Medicaid and the State Children’s Health Insurance Program (SCHIP) program expansions. Uninsured parents are more likely to suffer poor mental and physical health than are insured parents and their health can play an important role in their children’s well-being. Sign up for email notifications and we'll let you know about new publications in your areas of interest when they're released. The percentage of families with children in which no members are insured increases as family income declines. The uninsured rate for immigrants and naturalized citizens has been significantly higher than that of U.S.-born residents. 1. Get lower insurance rates by paying for your insurance annually or twice a year instead of monthly. To the extent that timely and appropriate medical care might ameliorate or even prevent these conditions, insurance contributes to better future functioning and life chances for children. The possibility of earning insurancepayments motivates some people to attempt to cause damage or losses. Also, you can type in a page number and press Enter to go directly to that page in the book. What is insurance? insurance essays. Thus life insurance business is complimentary to the Government efforts in social management. Definitions of eligibility and requirements for re-enrollment in public programs may also contribute to gaps in coverage. The mental and physical health of parents plays an important role in child well-being. MyNAP members SAVE 10% off online. 170-210, which provides for federal tax credits for health insurance for displaced workers. The physical and emotional health and development of their children may suffer as a result of parents’ poor health. Would you like to get the full Thesis from Shodh ganga along with citation details? Level term life insurance is the most popular type of life insurance policy with consumers, and this may be because it is also the cheapest form of insurance. Show this book's table of contents, where you can jump to any chapter by name. While enrollment in the employment-based insurance market grew during the strong economy of the past decade, continuing growth in enrollment seems less promising now. The implication is that not only is it important to understand which fac-tors influence a certain impact, but also which factors can be manipulated, and to what extent. The guarantee begins on the day following the conclusion of the insurance contract. There are two types of agents: 1. The Affordable Care Act has fundamentally restructured the insurance market. Their increased risk comes from the fact that their health care needs and costs are likely to be higher than those of younger families. Insuring parents is an important part of the process of bringing health care to children. the conclusion that this does not provide an answer re-garding the effect of insurance on health outcomes, which was the objective of the study. 2.8 Conclusion..... 40 2.9 Appendix: Proof That Expected Value of Expenditures Increases with the ThresholdSpendingValueh. Purchasing health insurance for uninsured family members is not practical for most of these families because of their limited incomes and lack of assets. LEARN; ... sale of an insurance policy by a terminally ill policy holder. In addition, lack of coverage for parents means they are less likely to obtain care or to have positive experiences with the health care system and that this is likely to have a negative impact on their seeking care for their children. It is essential that you know what each type of insurance covers and how it works so you can make the best decision about what to buy. If left untreated, some of the common childhood illnesses that can be detected and treated with routine care can also have long-term negative impacts on children’s development, including middle-ear infections, asthma, and iron deficiency. Thus, the consequences of not. The evidence suggests that children of uninsured parents may be less likely to get the full benefit of their own coverage than are children whose parents are also insured. Insurance can be concluded on the day of vehicle purchase. Over the past week we have talked about each type of auto insurance that can be purchased. The Committee’s final report will examine in further depth both the implications for public policy of the consequences of uninsurance on families and the impact of various programs and policies designed to counteract the negative effects. Improvements in public fire protection systems and services, as well as increased use of private active or passive systems through fire-protection and loss-control Uninsured families are less likely to use any medical services than are insured families and those who do, use fewer services on average. Insurance can be concluded through an extensive network of our contractual partners (new and used car dealers, insurance brokers etc. insurance contract. You're looking at OpenBook, NAP.edu's online reading room since 1999. Expenditures are also higher for families whose members are uninsured for the full year than for those who may have lacked coverage for a shorter period. To search the entire text of this book, type in your search term here and press Enter. Compared to insured adults, uninsured adults are more likely to have no doctor visit in the previous year, to use fewer medical services, and to have negative experiences when they finally obtain health care. Conclusion. How can it be concluded? Being in poor physical or mental health, which is more likely for those of low income and those without insurance, has a bearing on a parent’s child rearing practices and ability to cope. Practice: Personal Injury Category: Car Accident Tags: Insurance Companies, Insurance Law. Register for a free account to start saving and receiving special member only perks. The insurance business is growing at the rate of 32-34% annually .India's insurance sector is the 5th largest life insurance market, globally worth US$ 41 billion. Not a MyNAP member yet? There is also evidence that expanding public programs to previously uninsured children brings a significant increase in access to and use of health services. Insured is the person whose life or property is insured with the insurer. Public policies that affect opportunities for and the structure of health insurance coverage have great societal significance, given the harmful impacts on families as well as on individuals that are associated with the lack of insurance. This suggests that we focus not only on the more than 38 million uninsured adults and children in the United States, but also on the 17 million families in which some or all members are uninsured.1, Of the 85 million families in the United States, 17 million have one or more members who lack health insurance. 2. In this paper I will discuss the basic concepts of insurance, claims-made and occurrence liability policies, factors for selecting an insurance company and policies, and the difference between workers compensation and liability insurance. Most state budgets are feeling the constraints of lower-than-forecasted revenues and some may be tempted to cut back on public coverage rather than to expand it (Kaiser, 2001a). Uninsured newborns are more likely to have adverse outcomes than are their insured counterparts. Essay Paper Help ‘If you haven’t already tried taking essay paper help from TFTH, I strongly suggest that you do so right away. Share: August 21, 2017. For children, gaps in coverage are associated with health access and use that resemble those of chronically uninsured children. INTRO Private health Insurance is a $1.42 billion (before tax) industry in Australia (Seah, 2012) and has played a prominent role in the country’s health system for over 60 years. Re-Insurance: Every insurer has a limit to the risk that he can undertake. There are also indications that the trend for employers to reduce the amount of health insurance they offer to their retirees will continue. Conclusion of insurance !! Insurance is a mechanism that helps to reduce such adverse consequences through pooling, spreading and sharing of risk. One party is the insured and the other party is the insurer. These risks have added significance because of the types of families most likely to have some or all members uninsured. The evidence to date on whether expanding coverage improves an outcome such as low birthweight is not definitive, however. I used to wonder how a company can service an essay help Persuasive Essays About Insurance so well that it earns such rave reviews from every other student. Uninsured adolescents are more likely than those with insurance to have no regular source of care, fewer visits, and unmet health needs. The theory of insurance has been around as long as humans have. Cumulative personal insurance includes life insurance, annuity insurance, pension insurance. Share a link to this book page on your preferred social network or via email. Essay on insurance: essay examples, topics, questions, thesis statement. © 2021 National Academy of Sciences. Insurance as an investment that offers a lot more interms of returns, risk cover & as also that tax concessions & added bonusesNot all effects of insurance are positive ones. It is the risk transfer tool which is in existence since the time when trade through sea started.In insurance you transfer your risk (negative deviation from an future outcome) to an insurance company which will pay you at the time when the event insured happens with respect to the contract signed by both the parties. Transitions over the course of a family’s life related to aging, employment, and marital status, such as job changes, divorce, retirement, or death of the insured member, may disrupt health coverage. Such cutbacks might mean that fewer of the millions of eligible children will enroll than might have done. Switch between the Original Pages, where you can read the report as it appeared in print, and Text Pages for the web version, where you can highlight and search the text. For uninsured families, what is more common than ruinous health costs is the likelihood that they will go without needed care. While some rules for insurance programs are unavoidable, from the family perspective, some of these definitions and limits may cause disruption and discontinuities that are counterproductive to promoting healthy families. In addition, there are families more likely to suffer negative consequences of having uninsured members, even though they are relatively more likely to have insurance than are the populations above. The public also appreciates these risks by showing a strong preference for insuring their families, when given a realistic and affordable option for family coverage. The Committee’s analyses in this report reveal another, more insidious and subtle consequence of uninsurance, namely that if a parent is uninsured, the children in the family may be less likely to get the medical care they need, even if the children have coverage. Our writers (experts, masters, bachelor, and doctorate) write all the papers from scratch and always Persuasive Essays About Insurance follow the instructions of the client to the letter.Once the order is completed, it is verified that each copy that does not present plagiarism with the latest software to ensure that it is 100% unique. Conclusion This series of labor market posts has examined the possible paths of the unemployment rate if the current expansion lasts beyond the postwar average of fifty-nine months. 6 Health-Related Outcomes for Children, Pregnant Women, and Newborns, Appendix A: Conceptual Framework for Evaluating the Consequences of Uninsurance for Families, The National Academies of Sciences, Engineering, and Medicine, 3 Insurance Transitions Over the Family Life Cycle, 4 Financial Characteristics and Behavior of Uninsured Families, 5 Family Well-Being and Health Insurance Coverage, Appendix B: Overview of Public Health Insurance Programs, Appendix C: Research Review: Health Care Access, Utilization, and Outcomes for Children, Pregnant Women, and Infants. An advertising poster for a Dutch insurance company from c. 1900–1918 depicts an armored knight. It should be noted that agents work exclusively for the insurance company. This may financially destabilize the entire family. In the world with over 70% of internet users active on social networks, who spend at least one hour a day on average on those social networks, we have to conclude that social networks have become a sort of reality in which people communicate, interact, and obviously trust. Most common example of insurance. Of course, readers of this post may consider the assumption that the current expansion will last at least until mid-2014 as optimistic. Health policy researchers and health care professionals understand the financial and health risks of having family members without insurance. The perspective of this report on coverage of families also highlights the importance of the interdependence of individuals within families, the shared health and economic consequences of uninsurance, and the importance of stronger efforts to view the family in its entirety and to consider health insurance for the whole family. Do you want to take a quick tour of the OpenBook's features? With level term insurance, you and your family can enjoy peace of mind at an affordable price. The Committee recognizes, however, that there are many factors in addition to medical care that influence children’s health and development. More than 38 million uninsured people live in the 11.1 million family units mentioned above, with relatives other than their own children under age 18, with people other than conventionally recognized kin, or alone. Conclusion Over time, an increased understanding of the many factors that contribute to the risk of fire has led to positive developments in the fire protection of commercial structures. View our suggested citation for this chapter. All rights reserved. The combined implications of these two points is that once a sufficiently large number of similar studies have been undertaken that looks systematically at the particular effects of various health insurance types, systematic reviews can be done to draw more general conclusions as to the most preferred models of health insurance in various settings. Conclusion Constraining the rapid escalation of health care costs while extending health insurance coverage to all—the primary objectives of health care reform—will require significant improvements in the performance of our system for health care. With alarming growth in the past, the insurance industry is predicted to grow even faster in the coming years, with a business opportunity of $70 billion in 2020 for private players. Do not base your decision on just what is cheapest, but look at what it provides. Providing public health insurance to previously uninsured pregnant women increases the use of prenatal care but not to the level seen with privately insured women. The parents of insured children are also less likely to delay seeking care for their children for conditions that require it, and illnesses or conditions are not as severe when they do seek care. AI is at the centre of a new enterprise to build computational models of intelligence. Let’s Talk About Insurance: Conclusion. Insurance is a large investment and you will most likely purchase multiple policies throughout your lifetime. Define nature of Insurance s per third school of thought. Uninsured women are more likely to have poor outcomes during pregnancy and delivery than are insured women. Conclusions The Committee’s overarching conclusion is that insurance coverage within a family concerns and may affect the entire family unit. The outlook for continuing expansions of Medicaid and SCHIP may also be affected by the recession. Most insurance providers give a good discount for paying up-front. Fortunately, very serious and expensive illnesses and accidents occur relatively rarely, although chronic and expensive conditions are more common. INTEXT QUESTIONS 2.1 1. The main assumption is that intelligence (human or otherwise) can be represented in terms of symbol structures and symbolic operations which can be programmed in a digital computer. Uninsured children are less likely to receive important preventive services that can have beneficial long-term effects. If at any time a profitable … Jump up to the previous page or down to the next one. The main type of insurance is life insurance, and the contracts for the insurance of rent and pension insurance are its derivatives. The nature of private and public health insurance means that transitions over the course of family life—job changes, divorce, retirement, death of an insured member—often disrupt health coverage for those who had it. Insurance companies need to be more transparent in their financial statements. With that in mind, I offer seven hard-earned conclusions I have reached about the new world of small-business health insurance. Uninsured children are less likely to receive the routine medical attention that is considered necessary for quality preventive care than are insured children. THE GUARANTEE OF PRODUCTS’ UNIQUENESS. Conclusion Insurance is a large investment and you will most likely purchase multiple policies throughout your lifetime. The Committee notes the recent policy discussions regarding subsidizing Consolidated Omnibus Budget Reconciliation Act (COBRA) coverage for workers who lose their jobs under particular circumstances.1 The discussions recognize the value of health insurance and the need to make it more affordable for workers and their families to keep. insurance Essay Examples. Similarly, uninsured children with special health care needs, whose medical conditions require significantly more than routine well-child care, also have less access to a usual source of care, are less likely to have seen a doctor in the past year, and are less able to get needed medical, dental, prescription, and other care compared to children with special health care needs who do have insurance.