 I rent out my condo. Should I inform my homeowners Ins. company? |
I rent my condo out furnished. I have fire and liability insurance,.
Do I need to inform my insurance co?
Does renting affect the policy?... |
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 What is a good life insurance company for the price? |
| I want to purchace some life insurance just in case.... |
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 Getting ripped on health care in texas? |
| I'm currently getting healthcare through my employer since I'm no longer eligible for medicaid for my daughter or county health for either of us. well, it's killing me- our health ins ... |
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 If I have health insurance, what would it cost me to have a blood test done? |
Or who could I ask to tell me.
I would like to see a doctor and be tested to be sure my thyroid is working correctly. I understand they sample blood to do this. If I have health insurance (... |
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 Laws that mandate infertility coverage? |
| I have researched out and found out that Illinois mandates insurance companies cover infertility treatments. I have printed out the documents on this. We have insurance through my hubby's ... |
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 Is it too risky to be a homemaker even if spouse has good life insurance?.? |
| We both agree that I should be with kids but I'm worried about financial risks.... |
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 Please Help Me? |
| Do I have to pay shipping insurance on a product?... |
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 Can I be denied coverage for lap band if I have BC/BS PPO and the doctor is an out-of-network provider? |
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 Health Insurance question? |
| My husband's boss won't offer them Health Insurance. Where can I call or what can I do to ask if he has to offer them insurance or not. Please help!!!!!... |
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 Can my grandma get health insurance now that her husband has passed? |
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 Is home owner's insurance a requirement to have for a townhouse in California? |
Additional Details
What exactly does home owner's insurance cover anyway?
How is this different from theft, earthquake and flood insurance?... |
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 How long does an insurance adjuster have to pay insured for there damaged personal property? |
| I had a house fire, and filed a claim for structure and personal property. It has been one month sense adjuster has received my personal property info, and yet no check. Just a bunch of lies that the ... |
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 Does anyone else have to pay...? |
| for their car insurance? and how much is it. Not a single person I know has to pay and I have to, and I guess I just want to know that i'm not the only one (i'm 18, by the way and just ... |
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| i am tied up at a hospital & i have a broken arm? i did not sign up for short time disabled at work. can i sign up for unemployment until i get back to work?... |
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 Quick question about RENTERS INSURANCE? |
My fiance and i are renting out a house starting Feb. 1st.
After a year we have an option to buy the house.
Anyways, when we were looking at the house she said her dad wants us to ... |
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 Falsely Accuse Car Accident: Person wants to file me as hit and run ? |
| I had a car accident and then gave the person who I had the car accident with my insurance information such as my policy number and driver license number. I then filed the report to my insurance ... |
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 "I had gastric bypass surgery back in 2003, since then my insurance company has stopped paying for that surge |
| "I had gastric bypass surgery back in 2003, since then my insurance company has stopped paying for that surgery.. But since they paid for it in the beginning for me, wouldnt they be obligated to ... |
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TheSilence | How do life insurance companies make money when everyone dies eventually and they have to pay out? |
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Doing the Right Thing
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Life insurance companies make money by having a pool of insured pay their premiums every year. Then the insurance company invest their money into the stock market. Many life insurance being sold are cash value life insurance. This mean a life insurance contains a death benefit and a savings bundle into one product. For the insurance company to make even more money, they charge anyone monthly interest for anyone who wish to use their savings. If the insured dies, insurance company will pay the death benefit, but they will keep the cash value. How's that for making money?
Then there's a company that sells term insurance 100% of the time. Term insurance is like car insurance. You pay premiums to keep the contract enforced. If you don't pay, you lose the coverage. Just like other insurance companies, they make money by investing your premiums into the stock market. Some people outlive the term and some don't.
The point is, not everyone is going to die on the same day. Only one or few people die each day and the insurance company can afford to pay out all the death claims. |
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Phoenix, Wise Guru
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Not all insurance policies are forever. Term life insurance is set up for a specific period of time - you pay in, say, while you have kids at home in case you die, but then the policy ends when they are gone. Insurance companies don't pay out in those cases (though generally you still get some benefit).
In other cases, for example, pay outs decrease with age. You don't get the same amount if you die at 70 as you (your family) would if you died at 30.
So, you have all these people paying in all this money and you don't end up paying all that money back out to all those people. |
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Ocean_pacific_10
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Its the law of large numbers.... If i sell a insurance policy upto age 60 to 1 million people, not all are going to die before the age of 60.. So i make money of their premium and pay the claims on those who die before 60... |
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mkulda
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Here's a simple answer.
Investing.
They take the money you give them and they invest it. They have so much money they invest it everywhere. And, while they generally are conservative investments, they are usually very, very wise investors.
Which means they make enough money to pay the face value of the policies and be able to clear a profit. |
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rhsaunders
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Two ways. First, they charge for issuing and maintaining the insurance -- it's called a premium. Second, the premium charge is large enough that claims on those funds during a particular year may not exceed the funds available, and the excess is invested at interest, so the interest revenue helps the bottom line. It is useful to know the mathematics of this; see the reference for details. |
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emariagethai
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investments |
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mbrcatz
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Most people only keep a policy a few years.
Many people who have purchased life insurance, do NOT have it in effect at the time of their deaths - hence no payout. |
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