Comparing and contrasting either auto and health insurance

Comparing and contrasting either auto and health insurance

Introduction

Completion of Directions - Matrix

Type of Insurance

Functions

Coverage Characteristics

Companies That Offer It

Auto

Auto insurance insure the automobile for unexpected events like Damage, Accident, Fire explosion, theft, act of God and others

Auto insurance provide numerous options to cover opportunities

Auto insurance reduce the expense budget for individual in case of unfortunate incident

Liability insurance coverage characteristics, which is normally known as “third-party coverage”. In this insurer pays the damages caused by the insured person to another individual

In medical payment coverage characteristics insurer pays the expenses occurred by the insured person after the occurrence of unwanted circumstances

In Under-insured coverage characteristics, insurer pays the compensation to others that are designated in the policy by insurer after suffering from bodily injury

Three companies that provide auto insurance service are listed below

USA Insurance Co

Allstate company

Progressive insurance company

Home

Protecting policy holder from unwanted events

Provide compensation of loss or damage to the insurer

Reduce the financial pressure from the owners of the property

Dwelling coverage characteristics

Other structure coverage characteristics

Loss of use coverage characteristics

Libertymutual company

Statefarm insurance company

Allstate insurance company

Health

Three common functions of health insurance are

Insurance for routine care

Insurance of emergency care

Insurance for chronic conditions

Three coverage characteristics health insurance are

For infant children the parents depending upon their financial condition can insured their new born child in the early stage of life

Fee for service characteristics in which insurer pays complete of part of the expense

Health maintenance organization, that is also known as “managed care”,

CIGNA Health Insurance Company

Well point Health insurance company

United health care company

Disability

Provide financial support to people, that are not able to earn money, or have lost job because of accident

It is way of stabilizing the life cycle of the suffering individual

It provides security to suffering people

Short-term: this policy is applicable when an employee's unable to work for ...