What is Insurance Coverage? Insurance coverage is the amount of risk, liability, or potential loss that is protected by insurance. It helps individuals recover from financial losses as a result of incidents, such as car accidents, damaged property, or unexpected health issues. In order to be covered for their losses, individuals pay an insurance premium. The insurance coverage depends on the policyholder’s age, place of residence, employment benefits Fringe Benefits Fringe benefits are the additional benefits offered to an employee, above the stated salary for the performance of a specific service. Some fringe benefits such as social security and health insurance are required by law,...
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MONTREAL, Sept. 17, 2020 /CNW Telbec/ - Air Canada today announced that it is including complimentary COVID-19 emergency medical & quarantine insurance for eligible customers booking round-trip international flights. The coverage, available for new bookings made in Canada from September 17 until October 31, 2020, inclusive, provides emergency medical and quarantine insurance designed to give customers added confidence when booking flights and travelling abroad. "At Air Canada, we know people have personal, family and business reasons to travel. To give them greater confidence as they do so, we have engaged Manulife to offer all Canadian residents complimentary COVID-19 emergency medical...
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Even as 2.77 million Indians have tested positive for Coronavirus (COVID-19) so far, only 1,25,000 health insurance claims have been filed as of August 12 said T L Alamelu, member, non-life at Insurance Regulatory and Development Authority of India (IRDAI). Speaking at the FICCI Health Insurance Conference, Alamelu said that there is a big gap as far as health insurance coverage is concerned. "We have almost 96 percent people who have not claimed any health insurance under COVID-19. Having a minimal health insurance cover with exclusions is atleast better than having no medical cover," she added. If you take into account the 2.77 million Indians affected by COVID-19 and 1,25,000 health...
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Reacting to the Election Commission guidelines for the Bihar assembly elections scheduled in October-November this year amid the coronavirus pandemic, Rashtriya Janata Dal (RJD) has demanded life insurance coverage for voters if they contract coronavirus infection during the election. RJD, who has been opposing election during the ongoing pandemic, has also said the election commission guidelines needed numerous clarifications. RJD MP Manoj Jha while speaking to ANI has said that insurance coverage for voters should be given to voters as they are the main people in election and if the Election Commission does not clarify its guidelines, then there might be a dip in polling by up to 30 or 32...
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D uring the ongoing pandemic, insurance products — health and term-life insurance in particular — have started gaining traction. More and more people are now becoming aware of the importance of having health or life insurance, with insurance shifting from being a push product to becoming a pull product. Even though people seem well in control of their financial health and related matters, they are extremely worried about the risk to their and their family’s physical health. As a result, the perception of the importance of health and life insurance is now more than ever before. This indicates that both life and health insurance have started becoming the cornerstone of personal financial...
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Baldwin, Murphy Call on Congressional Budget Office to Reexamine Junk Plans Offered by Private Insurers WASHINGTON, D.C. – U.S. Senators Tammy Baldwin (D-WI) and Chris Murphy (D-CT), both members of the Senate Committee on Health, Education, Labor and Pensions (HELP), are calling on the Congressional Budget Office (CBO) and the Joint Committee on Taxation (JCT) to reevaluate the baseline assumptions and projections it published regarding the use and purchase of short-term, limited-duration insurance (STLDI) plans. In 2018, the Trump administration expanded the use of STLDI plans, or “junk plans,” allowing private issuers to expand the duration of these junk plans from...
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Health insurance cover can be purchased not only for yourself but also your spouse, children and parents so that the whole family can enjoy the coverage. Health Insurance Young Adults: Today is International Youth Day and one aspect of youthfulness that resounds with everyone is a healthy body. In younger age, the mind and body are in the best shape and mostly free from any kind of ailments. The need to have a health insurance policy is, therefore, largely ignored by most of the younger generation especially the millennial. But, should they ignore the risks or rely solely on the group insurance cover provided by their employer. Many of them are even reluctant to buy health insurance as they...
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Employers who want to provide insurance coverage for their employees for stress or ergonomic injuries sustained while working at home now have a new option to do so. Insurer Chubb yesterday announced a new Work from Home Insurance policy, which covers risks ranging from mental health issues to tripping over toys. The annual premium per employee is $38. Mr Ben Howell, deputy head for regional accident and health at Chubb in Asia-Pacific, said the product was launched as the firm expects that companies will continue to encourage workspace flexibility even as lockdown measures are easing across the region. "Although employees have adjusted well to being digitally connected from home via...
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The economic shutdown put millions of Americans out of work and a new study shows that crisis resulted in a staggering number of people now living without health insurance. The report from nonpartisan consumer advocacy group Families USA showed that 5.4 million people lost their health insurance during the period from February to May. That number is 39% higher than any yearly increase in history. Previously the highest recorded increase happened during the Great Recession of 2008-2009 when 3.9 million adults became uninsured. Across the country as a whole, more than one in seven adults (16%) is now uninsured, following three months of COVID-driven unemployment. This is particularly...
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The MarketWatch News Department was not involved in the creation of this content. Jun 24, 2020 (AB Digital via COMTEX) -- Norwalk, Connecticut - June 24, 2020 - John M. Glover, a Connecticut specialty insurance brokerage, recently released a new informational resource that discusses car wash insurance coverage. The article goes into detail regarding the liabilities car wash owners face and what they need to ensure their plan covers. The blog was designed to help give car wash owners some helpful information on what they should expect from their insurance plan and the unique traits they should be looking out for. In the article, the specialty insurance group provides some very helpful...
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