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DEDUCTIBLE IS NOT A DIRTY WORD
INSURANCE WAIVERS/RIDERS, RATE-UPS, & CAPPED COVERAGE
WHAT'S A “RIDER”? WHAT'S A “WAIVER”?
PRE-EXISTING CONDITIONS
WHAT'S
A “PRE-EXISTING CONDITION”?
EXCLUSIONS
WEIGHT, WEIGHT CHARTS AND HEALTH INSURANCE
AGE AND INSURANCE PREMIUM
UNDERWRITING
- WHAT IS IT?
TRIP OR HEALTH INSURANCE -- WHAT'S THE
DIFFERENCE?
AMERICAN PPOs & HMOs - WHAT'S THE
DIFFERENCE?
HIPAA / PORTABILITY INSURANCE
THE DIFFERENCE BETWEEN AN INSURANCE BROKERAGE & AGENCY
WHAT IS A “CERTIFICATE OF INSURANCE”
THE “PRE-EXISTING CONDITION” PROBLEM?
WHAT IS CO-INSURANCE?
UNDERWRITING
AT THE POINT OF APPLICATION
HOW DOES AN INSURANCE COMPANY DETERMINE
PREEXISTING CONDITIONS?
WHAT TO DO WHEN THE WEIGHT CHART SAYS YOU AREN’T TALL
ENOUGH?
WHAT'S A “RIDER”? WHAT'S A “WAIVER”?
These are terms insurance companies use to explain special exceptions to coverage in their insurance plans. For example, you may have injured your knee playing tennis and needed some minor surgery. Six months later you applied for insurance. On the application you mentioned your knee surgery. The underwriters at the insurance company decided that since the surgery was recent there was a notable risk of recurrence. Otherwise you were healthy, and they wanted to offer insurance, but they felt they could possibly lose money due to your knee problem. What do they do? They put a “rider” (“waiver”) on the knee, which simply means they will insure you but waive covering anything that happens to the knee. In other words they will insure your whole body except your knee. They will exclude covering anything that happens to the knee.
Sometimes these “riders/waivers” are permanent. Other times the company will issue a two-year, three-year or five-year rider. If the condition does not deteriorate or recur over a period of time, often they will “lift” the rider and give you full coverage. The option of using “riders” is good for the insurance companies and for the general public because it enables the companies to insure people whom they would otherwise decline to cover.
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