It is common to see that various health insurance companies have come up with policies that seek some part of the claim, known as a deductible, to be paid by the policyholder. While deductible proves to be beneficial for both the policyholder and an insurance company, several insurance applicants are still unaware of their benefits. Let’s know deductibles in detail.
What is deductible?
A deductible is the amount ‘deducted’ from an insured loss. It is the amount that you would require to pay for eligible medical services or medicines before the insurance policy kicks in. The insurer may apply deductible on a per claim basis or aggregate basis. It means, in the case of per claim basis, the insurance cover will come into effect only when a particular claim has crossed the deductible limit. Similarly, on an aggregate basis, the deductible amount is calculated on the aggregate claims in the policy year.
Types of deductibles
Mainly, there are two types of deductibles:
- Compulsory Deductible: As the name, itself says, it is the fixed amount that has to be paid by the policyholder before the insurer covers the loss. It is a threshold limit after which the insurer will make the payment. Usually, the amount is not very high, and it has no effect on the premium rates.
- Voluntary Deductible: It is the amount which is decided by the policyholder to be paid during every claim. The amount totally depends on the policyholder’s choice which he/she can choose as per their convenience.
Rajiv buys a mediclaim insurance policy with coverage of Rs 5 lakhs and a deductible of Rs 20,000. If at the time of hospitalization, the total medical bills come at Rs 4 lakhs, the insurer will pay him only Rs 3,80,000 (4,00,000-20,000). The remaining amount of Rs 20,000 needs to be paid by Rajiv itself.
Health insurance plans with deductibles have lower premiums
As a deductible has a direct bearing on the product pricing, the higher the deductible, the lower the premium and vice versa. When an insurer imposes a deductible limit, a lot of ‘improper’ claims are dissuaded. As the policyholder is also required to pay a part of the deductible, it will deter him/her from approaching the insurer for petty damages.
Also, by agreeing to pay a higher claim amount means that the policyholder is curtailing the risk faced by the insurer. That translates into savings on the part of the insurance company and these savings are passed on to policyholders in the form of lower premium rates. The money you save on premiums can be used to buy other policies like a personal accident and critical illness insurance plan.
Similarly, if in the aforementioned example, Rajiv is confident of lower claims in the future owing to his good health, he should go for a higher deductible amount to curtail the insurance premium rates.
How should you decide what deductible amount to pick?
If you’re healthy and believe that your risk of being hospitalized is minimal, a health insurance policy with a higher deductible is a good choice for you. On the other hand, if you have a medical condition that requires frequent medical care, a plan with a lower deductible is a good option for you.
Similarly, if one has pre-existing ailments such hypertension, diabetes, kidney stroke, etc.; the probability of being hospitalized is high, and one can go for the higher deductible option. It would ease the premium rates. In addition, it is recommended to go for a higher deductible option if one already has a base insurance policy or when an individual has a base cover but wants to expand the coverage. It ensures an increase in sum insured at a nominal premium rate.
Those who are looking for a higher insurance cover, a deductible plan is better since one gets the high coverage at a lower premium.
Caution before saying yes to high deductible amount
Given the benefits of discounted premium rates, many times policyholders tend to opt for a high deductible amount. However, before you agree with any such things, it is pertinent to clearly understand it in detail and choose only that deductible amount which you can afford. Otherwise, it will defeat the entire purpose of buying the insurance.
Hostgator VS Dreamhost Web Hosting & Review
Creation and development of a website are incomplete without hosting. If you want to start your own online business then admit this you have to choose a better hosting provider for a website. Hosting is the backbone of every e-commerce business. Without hosting an online business not run effectively. Once you become a member of a good host plan then you get assured for your website performance. There is numerous and Affordable hosting provider company that had been trusted by webmaster all over the world. One of the most important things is to choose the best hosting service provider.
If you are confused between in choosing between the two worldwide famous hosting provider company Hostgator and Dreamhost, Then choose the best one by comparing its plan and features.
In this article, we will provide you an analyze detailed of these two company Hostgator and Dreamhost.
Historic Comparision Between Hostgator and Dreamhost
There was a historic difference between the Hostgator and Dream host. Dream host was established in 1996 in Los Angeles and Hostgator was started in 2002. It shows Dreamhost have more year of experience relatively Hostgator. But its carry the same level of experience because their features and hosting plan are so much common. Hostgator is owned by Endurance International Group (EIG) and focuses on web hosting services. Therefore Dreamhost provides its hosting service with cloud computing and cloud storage.
Hostgator is s BBB (Better Business Bureau) authorized web hosting company. That’s why Hostgator is able to solve all the issues and complaints of the consumer in a systematic manner. It has also achieved the highest rating of BBB A+. In a comparison of Hostgator, DreamHost is not a BBB authorized business.
Hostgator is one of the rare web hosting company which provides window hosting in addition to Linux hosting.
Comparison between Hostgator and Dreamhost on the basis of features
We only choose a company that has the most beneficial and working features. By the comparison of the features, we can easily judge better-hosting providing firm.
Uptime and Speed
Hostgator provides 99.99% uptime guarantee and Dreamhost provides 100% uptime. As in the comparison, both are the same and provide better uptime to a website. However, when you compare uptime of the company you will find no difference between the company. Both the companies have quite similar uptime.
Hostgator company reviews with its hosting service show that they offer knowingly high page speed loads. Dreamhost used SSD instead of SATA hard disk drives that also provides a major boost to your web page.
So it shows that both the companies are reliable in providing better uptime and speed to a website.
Customer Support Service
Either you are a beginner or experienced webmaster but you want better support of experienced technical staff to help you with your site at the time of emergency. So solid support for a website is a must.
Both companies provide 24/7 support service to their customers. Hostgator provides more option to contact its customers at any time. It offers live chat, phone-call, email, or the ticketing system, for replying timely and solving all the issues.
As compare to Dreamhost, It provides reach to its wiki manual which consists of several troubleshooting tips.it also offers customer support service through Twitter, chat, email but it does not support any phone call service to its customers.
So it shows that Hostgator is more reliable than the Dreamhost because it is more flexible and has direct contact support with customers.
Hostgator provides you easy to use Control panel either you are a beginner you can easily operate its C-panel even you are new in web hosting.
If you are an experience one you will pretty similar and familiar with any of the previous control panel. With the single click, you can install multiple apps. You can easily manage file transfer, manage database and many more.
Dreamhost provides bespoke control panel, which is not similar to the original control panel.It is a little bit of time taken in understanding. A new beginner cannot use this control panel easily.
Money Back Guarantee
It is a must for a hosting company to provide money back guarantee to its users. Hostgator provides money back guarantee to its users of 45 days.
Dreamhost provides money back guarantee to its customers of 97 days that is more than Hostgator. So in this feature, Dreamhost is more reliable than the Hostgator. If you are not satisfied with the service of the company then you can easily claim your refund. Within a given period of time, you can you cab=n easily claim your money.
Comparison On the basis of Pricing
On the basis of pricing, Hostgator Plan starts from $3.99 Per month for the hatchling shared hosting plan for the three years subscription. While the cheapest price of the Dreamhost Hosting plan Strats from $8.95 per month. With their shared hosting plan for a two-year subscription.
This price Comparison shows that the Hostgator Hosting Plan is cheaper than the DreamHost.Hostgator services are more pocket-friendly as compare to Dreamhost.
Fasteners Industry: Everything You Should Know
Although fasteners go unnoticed in the course of our day to day activities, they lay the foundation of a lot of machines surrounding us. From holding a table to the heavy-duty automobiles, fasteners are an essential component. A fastener is used to join or fix two or more objects in a way that they can be separated or dismantled without damaging the objects.
The fasteners industry is co-existing along with industries like aircraft, agricultural machinery, automobiles, infrastructure, appliances, and commercial construction.
More than 90 % of fasteners are made of carbon steel, owing to its high durability, excellent workability, and low cost when compared to other materials used for fasteners.
Here are some of the most interesting things you should know about the fasteners industry:
Fasteners Industry Market Segmentation
The global fasteners market is highly fragmented. It is segmented based on raw material, applications, and product type. Each segment is further subdivided into the following:
Segmentation Based on Raw Material
- Plastic Fasteners: In recent years, plastic fasteners have found an increased utility in automotive applications. Properties such as relatively low cost and lightweight as compared to their metal counterparts, have boosted their demand furthermore.
- Metal Fasteners: Despite the growing popularity of plastic fasteners, the resistance and ductility of the metal variants are likely to help it secure a larger market share in heavy industries such as shipbuilding, railways, and industrial machinery.
Segmentation Based on Product Type
- Externally Threaded: They are considered as fundamental components in several structural and non-structural applications. They are in high demand from the heavy equipment manufacturing, automotive, electronics, and railway, industries.
- Non-Threaded: They are mainly used for cable management and wire harnessing in construction applications. Non-threaded fasteners are expected to witness a high demand due to their light weight and low cost.
- Aerospace Grade: These fasteners are classified separately from their industrial counterparts. They have excellent quality, high performance, and other technical specifications, which makes them different from the other fasteners. They are in high demand in the aerospace maintenance and repair sector.
- Internally Threaded: These primarily include inserts and nuts and are generally used in combination with bolts to affix two or more parts together. Commercially, its variant products such as flange serrated nuts, hex finish nuts, cap nuts, square nuts etc. are available in the market.
Segmentation Based on Applications
On the basis of applications, this segment is subdivided into industrial machinery, automotive, home appliances, aerospace, construction, lawn & garden, pumps & motors, furniture, and plumbing products. The aerospace application segment is anticipated to be the fastest-growing segment in the APAC region. The second segment slated for growth is the construction segment that widely uses nails, nuts, and bolts.
Industry Drivers for the Global Fasteners Industry
With a shift in production trends towards manufacturing products that are innovative, like the miniature, hybrid fasteners, and specialty, the fastener industry has transformed in response to the ever-changing consumer demands. The urbanization and industrialization of the emerging economies like China, Thailand, India, Brazil, and South Korea, have further fuelled the growth of the construction industry and the automotive industry which in turn, have driven the demand for fasteners.
APAC Emerging as the High Demand and Supply Region
The ease of raw material procurement, skilled labor procurement, and friendly government policies in the APAC region, have made the region the world’s largest fastener producer.
According to the global fastener industry overview, the Asia Pacific region is expected to have a high market demand for standard fasteners in the next few years. This demand is primarily because of the increasing requirement for construction activities, maintenance and repairs activities, and automotive growth.
Regional Scenario of the Fasteners Industry
In North America, the application that holds the highest market share is the automotive application. The plastic fasteners are gaining high preference in the automotive industry due to growing electrical vehicles. It is projected that North America will lead the global market for fasteners because of high stability in the end-use industries.
In Europe, because of increasing residential gardening, the widespread need for gardening and lawn equipment like small tractors and land mowers has contributed to a boom in the production of fasteners.
Due to the high demand for fasteners locally, Indonesia, one of the major global importers of fasteners has its import revenue leading the export revenue. Thailand, Japan, Taiwan, and Singapore are the key suppliers of fasteners in Indonesia.
End-use industries such as industrial equipment, automotive, and construction, have increased the demand for fasteners in Thailand and their market is likely to grow exponentially in the coming years.
The Market Dynamics for the Fasteners Industry
The major end-users industries like building, marine, automotive, construction, electrical and electronics, etc. account for the majority of market share in the fasteners industry.
The prime manufacturers in the industry are securing their position in the market by concentrating on the R & D initiatives by investing in innovative trends such as improvement in the procurement of raw materials and developing fasteners to increase strength, durability, and resistance towards temperature and pressure.
With increasing competition in the global fasteners industry, many companies such as Precision Castparts Corp., Alcoa, NIFCO, Stanley Black & Decker are aiming to obtain global standard certifications to withstand their competitors. Opting for stringent quality control and certification standards like AS9100 and NADCAP has become one of their prime strategies to gain a competitive edge in the market.
Common Mistakes Every Stock broker wants you to make
Money is essential and works like petrol in our life. People earn money from different source by exerting physical or mental labour. But the fixed income may not smoothly lead our lives as they are rigid. People need more money for entertainment in life as merriment in the inseparable part which leads to extra boost to consequent day’s performance. So it is the time to make extra income for further work enthusiasm and margin lifestyle much upper. There are a lot of ways that people may engage themselves for extra earning. One of the most popular ways to make money is an investment in market and more specifically in Stock Market. Several thousand are engaging themselves in this for their smooth and continuous income.
But wait! Money is not a thing that can be distributed or invested as unauthorised way. Investment market always creates a risk for the investors are there is a big chance for a loss in trading. For experienced one, trading is always good in return. It makes a big risk to them who are completely or partially unaware or the procedure or time to invest.
Many of the people who want to invest generally run to the stock broker who assures them with good guidance and hence a good return. A majority of the initial investors blindly invest money with that assurance with a lump sum without knowing the market strategy. Most of the cases, they losses partially or maybe all the money. There are some distinct mistakes the people make while investing motivated by the stockbroker are briefly here.
- Most of the people are not learned about the market investment. There is a learning process available for the learning purpose of the investor and all they are paid. Probably people think why they should go for investing money for learning how to invest they rather directly invest money with the sweet guidance of stockbroker. This is wrong. Stockbroker always in search of such people who will invest without knowing anything and so they will motivate the investors in their way. In such cases, they charge money for advice but the investor losses as per the wrong guideline in many cases.
- Invest wisely! There is no barrier to invest money, no floor no ceil. Stockbroker always wants that investors invest more money, so they earn more by commission and investors do. They may not think if the market falls they lose all. Again it requires a market study.
- Many of the investors treat it a hobby. For their leisure activities, they invest money and stockbrokers surely and wrongly help them. The investment must be a business and should not be done in obsession.
- One of the most exceedingly awful things you can do as a merchant is to exchange without an arrangement. Exchanging without an arrangement resembles driving in another territory without a guide or a routeing You are lost.
- Another awful situation creates when unplanned investment comes into the scenario. A planned investment means a planned business. If the investment is unplanned, people cannot assume and visualise their gain or loss. For proper and planned investment they should follow a calendar and data sheet, so they visualise their stocks well. Be aware, a stockbroker may gain from this issue.
- Some of the investors wait for the right price to come. However, many successful market investors are often not perturbed by the risk factor, instead, they come to the market to make money by leveraging the existing risks within the market. So at times, it is better to invest than to wait.
- Every stock requires a trading plan, and right follows But somehow there is a gap. Market prediction is necessary for predicting stock for future purchase and sell. If there will be no correct insight of proper predictive plans, the very person must lose. Market prediction is a study by which investors can make an idea about the time and day to invest or sell. A slight wrong idea makes a big loss. If you are choosing a stockbroker for that purpose, must choose wisely.
- An investor must be aware of correct stock for intraday or another trading. Although the risk parameters are the same for all the stocks available in the market, though the delivery quantity differs. There may be an extra charge or tax included or may be charged by stockbroker or agency for immobile stock. So, there is a high risk to lose money.
Last, of all, the investor should examine themselves about the investment strategy because they investing for extra income not to distributing money among the stockbroker. They should set up a proper plan, learn themselves and prepare for investment. There is no hurry, but whenever they get into the market play, only the player will exist and a player is formed by proper learning themselves.
If you have the cash to contribute and can keep an eye out for these amateur errors, you could really make your speculations pay off. Furthermore, getting a decent profit for your ventures could take you closer to your monetary objectives.
With the share trading system’s affinity for creating huge additions (and misfortunes), there is no deficiency of flawed counsel and silly choices. As an individual financial specialist, the best thing you can do to cushion your portfolio for the long haul is to execute a sound speculation technique you are OK with and willing to stick to.
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