Reasons for lower payouts

Many people have taken out endowment insurance as a retirement provision. But the payout is often a disappointment in old age: The amount can be significantly less than the insurer had promised. One reason: many insurers are in crisis – according to a recent study, 22 out of 84 companies examined have major financial problems.…

Retirement System

Retirement System Every U.S. citizen is insured against old age, and if an insured event occurs (the general rule of thumb is reaching age 65), he or she may qualify for a pension. Let’s review the main points about the U.S. state pension program, as well as the nuances of private pension insurance. How pensions…

Liability & Collision Damage Waiver

Car Insurance The system that is already familiar to drivers applies here: liability insurance and car damage insurance Consider what conditions are necessary to obtain a car insurance policy, and which are essential: For people over the age of 25, insurance will cost significantly less. This is because most car accidents in America are committed…

Deposit insurance

The need for deposit insurance is due to the frequent bankruptcies of banking institutions. The system is aimed at compensating for lost savings of depositors, as well as for losses of the banks themselves. Despite the fact that the need for such a system is obvious, it operates only in 70 countries of the world,…

Insurance requirements

  Insurance requirements To gain this advantage, member banks must comply with certain liquidity and reserve requirements. Banks are classified into five groups according to their risk-based capital ratio : Well capitalized: 10% or higher Sufficiently capitalized: 8% or higher Undercapitalized: less than 8% Significantly undercapitalized: less than 6% Critically undercapitalized: less than 2% When…

Flood Insurance

  Flood Insurance The homeowners and renters insurance described above usually does not cover flood damage in any way. That’s why the National Flood Insurance Program is in place in the United States to reduce the impact of flooding on homeowners and renters. The memory of Hurricane Sandy in 2012 is still fresh in the…

Insurance in the U.S.

  How do I choose insurance for the U.S.? It doesn’t matter which company you choose to get health insurance for your trip to the U.S. It is much more important that the policy meets the following conditions. Valid throughout the United States. Be careful not to accidentally buy insurance that works in every country…

How does flood insurance work?

Due to the specific territorial location of the United States, the country is constantly exposed to natural disasters. Floods, tornadoes, earthquakes – Americans are no strangers to these names. Because of the increasing frequency of natural disasters and because of the large-scale damage caused to the U.S. economy by these disasters, the government has taken…

The latest news about insurance

U.S. Federal Emergency Management Agency expects property insurance costs to rise The Federal Emergency Management Agency (FEMA) is working on new flood maps that are expected to change the landscape for property owners. FEMA is currently focusing on individual properties, and as a result, property insurance costs are expected to rise. The nonprofit flood risk…

Social Insurance

Social Security In addition to medical care, the United States has a well-developed social insurance system. Here the insured cases are as follows: unemployment, disability, loss of breadwinner, old age (we will consider the issue of pensions separately). If health insurance is private, then here the premiums are paid to the budgets (the federal and…

Who pays the insurance

Who pays the insurance Your financial and social status is important – it will determine who has to pay the amount of insurance. The following options are possible: If you are low-income, disabled, or unemployed, the state pays for coverage (Mediacaid); If your income is low and your employer does not pay for insurance, you…

Insurance “packages”

Not all employers take on the responsibility of paying for insurance for their employees. Therefore, it is quite common for U.S. residents to purchase their own insurance “packages”. The cost of insurance depends on marital status and family composition. It costs a little more for singles. The cost of insurance is determined by income: the…

Some Facts about life insurance

Insurance is more expensive for smokers For a family – wife and husband, each 35 years old – a $500,000 policy for 30 years will cost $50 to $80 a month, depending on the health condition. Usually, those who want the policy must undergo a medical exam, which is paid for by the insurance company,…

Payment limits and terms

California in 2017 set the following minimum limits for driver’s liability coverage (California Insurance Code §11580.1b): $15,000 – injury/death of one person$30,000 – damage/death to two or more persons$5,000 – property damage But, of course, these minimum values are not enough, because just one treatment of an injured person with a small fracture will cost…