Insurance Company Pays People to Keep Fit

Misfit Fitness Band

Misfit Fitness Band

Insurance companies are becoming increasingly proactive in how they help consumers. One new insurance company aims to use technology to better tailor health insurance to people.

An insurance company named “Oscar” has unveiled an initiative where every member can obtain a free “Misfit fitness band”. The band allows people to track how much exercise they are performing every day and sync the data on their smart phone. Customers who already use fitness tracking software can also sync their data with Oscar’s fitness tracking system.

The insurance company then rewards people who exercise regularly with rewards. The application sets a number of health goals, and for every health goal passed they receive $1. The user can cash-out when their total reaches $20 and will receive the amount in Amazon gift cards.

This isn’t the first time this company has provided rewards for when customers make smart decisions about their health. They previously gave customer $20 if they had a flu shot by a certain date.

Schlosser admits that this is “very much the beginning,” and that one of Oscar’s main goals is to collect more health data on its members to make sure doctors have the most information available on them. Down the line, that could include nutrition data, sleep data, and as tracking technology becomes more sophisticated, perhaps even blood pressure data.

“We aren’t the people who deliver your healthcare, but our job is to facilitate the delivery of your healthcare,” Schlosser says. “To do that, we can get more information to your doctor.”

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Important Steps When Changing Car Insurance

Changing Car Insurance

Changing Car Insurance

Many people can be lazy when it comes to car insurance and simply pay the bill as it comes in without considering the possibility that other insurers may be offering better deals. Well the car insurance market is increasingly competitive and you might be able to save as much as 40% off of your current insurance bill by simply looking at competitors and negotiating a better premium.

Insurance experts say you should actually shop around for a better deal every couple of years because the car insurance market is increasingly competitive and premiums fluctuate greatly. Your trusty insurance provider may have slipped from providing the best value for money to providing the worst value for money in only a few short years.

Why throw money away?

Here are a couple of things to look out for when changing car insurance policies to make sure you really do improve the value for money you are receiving:

Checkout as many providers as you can

You only buy a car insurance policy once or twice a year and it is typically an expansive purchasing decision. So take your time and explore a number of options.

You should get quotes from at least 5 separate insurance companies before deciding on one, and typically, the more the better. Luckily, there are various websites on the Internet which allow you to do quick comparisons between insurance providers. At the very least, these websites can help you whittle down a large number of selections into a few front runners.

Also make sure you are comparing apples to apples. That is, make sure the policies offering the same or similar levels of liability protection and service. If you don’t have time to do the research yourself, you can always employ the services of an insurance agent!

Get in touch with your current Car Insurance Company

Many insurance companies don’t like letting go of their customers, so will fight for your business. It costs these companies a lot of money to obtain new customers, so they are willing to spend money to retain their existing customers as well.

A quick phone call or email to your current provider, in which you detail what the competitors are offering you and they may very well beat the other competitors! Also consider rolling your car insurance into other types of insurance you have if possible. Contact your home insurance company and see if they will give you a discount for getting your car insurance through them as well. That is called the multi-policy discount.

Make sure there are no penalties associated with switching

In some unusual cases insurance companies have fees attached to people who leave their current insurance coverage before completion of the agreement. So if you decide to end the 12 month insurance contact around month 8, there might be a fee attached.

Consider this fee, and make sure you time your purchase decision properly. It’s a rare case, but something to consider.

Investigate the new insurer before buying in

After getting some quotes, ensuring they all offer roughly the same level of service and narrowing it down to a top 2-3 providers – investigate the company.

Do they have a good reputation? Is it a large company? Do you know anyone who uses the company in question and have they had any problems? Where is the company based?

There are a number of websites where people share their experiences with various insurance companies so you can find out a lot with some quick searching on the Internet.

Having the lowest insurance premium is fantastic, but if the company has a horrible reputation and feedback on the Internet for the company is poor, then they may not be the right choice for you.

Check that the policy dates overlap or match

Double check the start and end dates on both your old policy and your new policy to ensure that there is no gap where you are not insured. Don’t cancel anything until the new insurance is up and running.

When you have canceled the old policy, make sure it is definitely canceled and there are no recurring fees.

Save Money on Health Insurance!

Health Insurance Policies

Health Insurance Policies

Health Insurance is very important protection for you and your family against expenses that arrive should you or one of your loved ones become ill. For that reason, it is extremely important to get health insurance right. You need to choose a policy with great coverage, that has all of the options you need and is affordable. Check out the below tips to help you obtain great value for money when choosing your health insurance.

Compare life insurance quotes

In order to get the best value for money, you need to consider as many providers as you can. There are many health insurance comparison web sites which have been setup for just this reason. They will allow you to enter a few details and obtain quotes from multiple health insurance providers. The comparison websites will list all of the details of the policy so you can make an informed decision about which one offers the best value for money.

Customize your health insurance

Nowadays you can actually formulate an insurance policy to suit you individual needs and save money. If you don’t want to have any more children you won’t need an insurance policy that covers pregnancy costs, for example. If you are in your 20s you won’t need a policy that provides insurance for hip replacements.

In this way you can remove the extras that a policy doesn’t need and really get down to the essentials and things you are worried about. It’s a fantastic way to save money on your health insurance.

Beware of costly and silly additions on a health insurance policy. If there are items associated with the insurance policy that you know you won’t need, speak to the provider and ask for a special deal.

Start health insurance early

Insurance companies like to reward customer loyalty and customers who join at a young age. Many companies will allow you to lock in a lower insurance premium if you join at a young age (below the age bracket of 30-40 in most cases). If you lock in that low lifetime insurance premium you will have a cheaper rate when you are 50, 60, 70 years of age. You can also be rewarded for staying with the same health insurance for a number of years with many companies offering a discount after 10 years of paying insurance premiums.

Choose an insurance plan with a higher excess

The excess is a payment you make to the insurance company when you decide to claim on your insurance policy. Usually the higher the excess, the lower the insurance premium, so you can save money in this way as well.

There are also co-payment options where you agree to pay a certain sum or percentage of medical costs when you claim on your insurance. That can also lower your insurance premiums, but you must be aware of precisely what co-payment obligations you have. Some plans will have a minimum fee attached to hospital stays on a per day basis, so a co-payment of $100 per day you spend in hospital.

Make sure there are limits on the co-payment amounts when signing onto an insurance policy because a per day hospital co-payment can quickly add up if you have a serious accident. Reading the policy in detail is the best way to make sure there are no hidden or substantial excess or co-payment fees in your policy. It is always a trade off between excess/co-payments and insurance premium savings, so find the right balance for you.

Pay in advance to lock in cheaper premiums

Most years there is an insurance premium rise, so avoid copping this rise, consider buying a years insurance in advance instead of doing monthly payments. Many insurance providers will pass on the rise in premiums immediately to customers who are paying every month, but customers who have paid for a year in advance won’t cop the premium rise until the expiry date on their policy.

If you look at the history of premium increases with your company, you may be able to determine what part of the year they raise premiums. If your insurance company usually increases premiums in March-April, then by buying your year long insurance policy in February, you will lock in a decent saving.

Consult your policy before having procedures done

You can save yourself some money by understanding exactly what your insurance policy covers and doesn’t cover. If you aren’t sure what costs you are up for, consult your general practitioner and contact your insurance company. There might be ways to save money by changing which facility you have the procedure done at or by changing some of the options associated with your hospital stay or procedure.

Make health insurance claims immediately

Make claims on your insurance policy immediately to get the ball rolling and prevent any personal costs to you. Most health insurance companies have a maximum claim period as well, so if you have a procedure and don’t claim it for 2 years, the insurance company will not pay you. You don’t want to be stuck with a large medical bill because you forgot to fill in the paperwork!

Cheaper Pet Insurance

Pet Insurance Tips

Pet Insurance Tips

Pet Insurance can be expensive but it is one of the most worthwhile expenses given that vets are continually raising their prices. Some veterinarian procedures can cost thousands of dollars and many people end up in debt because they tried to save the life of their much loved pet. Here are some quick tips on how to save money when buying pet insurance!

Get your pet neutered. Some pet insurance companies offer cheaper insurance premiums if your pet is desexed. This is because giving birth can be a dangerous and costly affair for some animals. Pugs, for example frequently have difficult births and the mother often has to have a caesarian section to safely deliver the pups. If the insurance company knows it won’t be asked to fund the cost of delivery or any complications related to your pet’s delivery, you can obtain cheaper insurance.

Additionally, your animal is safer when they are neutered. Safer from other animals, safer around children and less messy.

Get your animal microchipped!  Microchipping provides peace of mind because if your pet becomes lost, any vet or dog catcher can scan their chip to find the owner details.  The chip is a small flexible disc that is inserted under the skin on your pets neck.  Many insurance companies have clauses in their policy which allow for a certain amount of money to be paid to help find your lost dog.  Microchipping lowers the risk of a lost dog because it can always be identified as belonging to you.

Another great tip is to make sure you only use your pet insurance for major ailments.  Frequently people use insurance on every minor ailment that their animal has, but this often becomes more costly because of the insurance excess you pay when making a claim.  Often if it is something small like a minor infection, it’s worth paying the vet the $80 yourself rather than forking out the $100 excess the insurance company might require.

Save your pet insurance for the more costly items, like a sudden injury to your pet like a broken leg, or more costly procedures which involve surgery.

Another great tip is to maintain your pet’s general health.  Buy them bones to help keep their teeth in great condition, treat them for fleas, make sure they wear tick collars and manually check them for ticks, make sure you use a good heartworm medication and so on.  These simple measures can save you from visits to the vet and save money in the long run.  Make sure you clip your dog’s toe nails so it doesn’t develop an ingrown toe nail that can lead to an infection.  Give them a regular bath and check their overall health when you do so.  Most of all – don’t overfeed your pet!! Do all of these basics to save money in the long run.

Keep your pet indoors.  One great tip for cat owners is to keep your animal indoors so it doesn’t run the risk of being injured while outside.  Some insurance policies offer discounts for “inside cats” because they are less likely to be injured and require costly veterinarian care.