Sunday, December 28, 2008
Insurance is a way of risk management used to cover in case of loss. In insurance the insured pays a fixed amount of premium and in return the insurer guarantees to compensate the loss of the insured`s property or life or the insured thing in case of any damage. The premiums are being determined with insurance rate. There are many types of insurance available to insure your valuable things. But in general you can find 6 types of insurance policies that are available in the market to suit your needs.
Lets have a look at the 6 various types of insurance that you can afford.
Life Insurance : The most valuable thing in the world is our life. So to insure life is given topmost priority while talking about the 6 types of insurance. In this insurance plan the insurer company gives the financial coverage in case of loss of life of the insured and his family. The policy holder have to pay a premium to get the coverage.
Health Insurance : Health insurance covers the health related expenses that needs in an emergency. This insurance can cover your all expenses regarding the treatment, fees of doctors, Hospital charges, medicine and also other charges in case of mishaps.
Auto Insurance : 3rd type among the 6 types of insurance is Auto insurance. You can opt for it. In auto insurance policies, insurer provides cover for damage caused by motor accident. The insured pays a monthly or yearly payment to get the coverage. In return the insured gets compensation in case of any mishaps. The insured Insurance premiums are decided on basis of age, gender, marital status, distance traveled, Vehicle classification, etc.
Disability insurance: Disability insurance provides cover an individual financially, if the person looses the work ability and unable to earn his living due any illness or accident. Two types of coverage are available, one is STD or Short Term Disability and LTD or Long Term Disability. In case of STD you can get compensation for a period of maximum 2years. In LTD the compensation will be provided for the life time.
Home Insurance : The 5th among the 6 types of insurance is Home Insurance. It provides coverage for your home against all the mishaps. Many different plans are now available in this section to suit your needs.
Business Insurance : Businesses can also be insured from any mishaps however its big or small. In business insurance policies the insurance company provides coverage for business property and liability. The most popular business insurance is BOP or business owner's policy, it’s a kind of bunch of policies with many kinds of coverages.
These are the main 6 types of insurance. Although outside these 6, there are bunch of other types of insurance is also available in the market like: Travel insurance, Pet insurance, Financial loss insurance etc.
Monday, December 8, 2008
The NBER is a private group of leading economists charged with dating the start and end of economic downturns. It typically takes 6 to 18 months after the beginning of a recession to declare its start. The NBER similarly does not declare an end to the recession until long after the "expansion" has begun.
The current recession will likely prove to be one of the longest downturns since the Great Depression of the 1930s. The past two recessions (1990-1991 and 2001) lasted eight months each, and only two of the 10 previous post-Depression downturns lasted as long as a full year, according to the NBER.