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Finance

Health Insurance Problems During Divorce And Child Custody

Health insurance is essential as it will lower the cost of high medical expenses and even provide free health screenings and check-ups depending on the insurance policy. In the event of a divorce or child custody, it might significantly affect the health insurance policies that you have previously applied for. In such cases, it is crucial to talk to Kohlmeyer Hagen Law Office and get the appropriate legal advice on what can be done in order to be secure and protected.

Here are some of the problems that you might be facing during divorce and child custody:

Most people do not realise that they might lose their health insurance when they get a divorce, and the insurance coverage can be questionable if their child is in custody with a divorced parent. Although family law courts can intervene in the issue and help decide how to get the benefits from health insurance when you are in a divorce, it is recommended to have an attorney who will guide you in taking the proper steps legally and responsibly. 

The following are some of the problems that arise in health insurance if you are getting a divorce or in child custody:

  1. If a couple does not inform their respective insurance company about their legal separation in advance within a particular time, then there are chances that the insurance claim is considered as insurance fraud.
  2. Failure to research the available options in getting the best insurance coverage before the divorce or legal separation can result in paying a lump sum amount of money which can be significantly higher for the couple to pay.
  3. If the child has a pre-existing medical condition and the parents are divorced, then it is recommended for the child’s parents to agree on a contract with the doctor to have bills separately on an appropriate ratio to avoid expensive medical costs on one parent. If not, the custodial parent might have to pay more.
  4. If the non-custodial parent who had agreed on providing insurance for the child changes jobs, he is requested to contact his new employer about including his child along with him in his new employer-provided insurance plan. Hence, the child is insured under the same plan as his non-custodial parent.
  5. A parent would be asked to pay all the medical costs incurred under insurance if he was ordered to provide health insurance by the court yet failed to do so.
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Business

How does high-frequency trading condemn quality?

Most rookie traders in Forex like to follow the short-term trading method. They select Scalping as their technique and run their trades accordingly. While following this system, they introduce an irrelevant trading strategy in the business. While performing in the marketplace, their immature trading peripherals affect the performance. The short-term technique also reduces profit potentials. If you follow the same idea, your trading business will end in vain. That’s because most of the individuals in this profession start their careers with a poor degree of realization.They cannot maintain the trading peripherals efficiently, which ruins the position sizing system.

Due to immature trading skills, rookies also introduce inefficient money management. It affects the investment policy for the trades. When risk management and position sizing are faulty, traders cannot meet the standard. It increases loss potential, and everyone loses money from their accounts. By losing capital, traders also become frustrated. This phenomenon increases the loss potential even more.

To combat the high-frequency trading method, everyone needs to take care of their fundamentals. Alongside them, you must take care of your mindset too. If you can introduce efficient techniques in the approaches, your business will be successful. It might not impress a performer at the beginning, but the income willbe respectable.

Ruining the risk management policy

The risk management system has the highest priority in trading. When you deal with currencies, there is no way around it. Everyone needs to introduce some sort of money management into their system. It helps to regulate the investments. A participant can modify the risks per trade and leverage, which results in safe trading performance. To utilize the system, however, one should make necessary preparations. As a newbie is vulnerable to immature investments, participants should take precautions. No risk exposure should be present in volatile markets. To learn more about risk management techniques, you may visit the official website of Saxo and discover how elite traders are managing their risk.

If you maintain the risk factor, the trading process becomes simple. Even with the Scalping technique, traders benefit from taking wise approaches. A participant with mature risk management does not take random risks by executing orders. Every execution is calculated and efficient for high market volatility.

Irrelevant position sizing of trades

One of the worst predicaments of the high-frequency trading method is immature position sizing. When participants follow that idea, they do not care about the safety of the capital. Instead of making wise decisions for the trades, they try to achieve the most pips. To achieve their goals, they often introduce immature risk exposures. Although it is manageable with simple strategies, participants still fail in position sizing. One should take special care of it with relevant ideas. There should be no investment without self-confidence. When you are sure of a trade signal, place an order. In case of any difficulty, forget about an approach.

Simple plans for position sizing are beneficial for the traders. One can identify the best entry and exit points for the trades. When you are sure of the positions, it will benefit your cause. In that case, a purchase will be reliable for high market volatility.

Making inefficient trading decisions

Efficient trading decisions don’t mean high income from this business. It relates more to the idea of a secure trading career. When traders follow this idea, they invest money wisely. They also leverage the risk per trade without excessive losing potential. Most of them do place orders randomly in the markets. In the highly volatile markets, everyone remains calm for a purchase. Traders invest exclusively when the position sizing is perfect. By following this strategy, many individuals can avoid any potential loss. To perfect your trading skills with this ideology, however, you need to practice.

Instead of lurking around looking for money, every participant should take care of their trading career. It helps people survive in the complex world of currency trading. A participant can also benefit from a respectable income from this business. The most soothing perspective is having minimum worries about losing the account balance. A performer can benefit from it and make necessary adjustments to the trades for because they have not risked more they can afford to lose.

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Business

How to Hire an Attorney- Avoid Some Common Mistakes

Attorneys are people whom everyone avoids hiring for many reasons. People try to resolve the matters by themselves and land in a mess later on. If you are facing some tough situations in your lifetime, you need to get in touch with a qualified attorney who can save you from all the hassles. Hiring the best one can be a tedious task because he is not the one, whom you may meet on a regular basis. Making some mistakes while choosing him is normal and genuine. Below mentioned are a few tips using which you can avoid these mistakes and hire an experienced one like Tad Nelson of Law Offices of Tad Nelson & Associates in Galveston.

Don’t hire an inexperienced lawyer

One of the common mistakes is choosing the one who has recently graduated from law school. He might not have taken up many cases and hence, his exposure is limited. On the contrary, an experienced lawyer has more knowledge because he goes to court for many years. He is able to point out the facts in the most efficient manner. That’s why it is important to hire an experienced one.

Hiring an attorney without checking the credentials

The internet is a vital place to check any piece of information. You can check the reputation and rating of the lawyer online using review portals. The real-time clients might have left comments explaining whether the services are worth taking. You should always go through what others have to say about his way of handling the case. 

Falling to ask many questions

You already are under stress and anxiety when you are going to fight in a court of law. You may not feel comfortable asking questions because you want to believe every word uttered by your lawyer. It will not help you in any manner. In order to hire the best lawyer, you should ask him several questions so that you are aware of the procedure to be followed in court.

Hiring solely because of less price

One of the biggest mistakes in choosing an attorney is the low price. It may be one of the deciding factors but you should not take only this into consideration. Sometimes, you may have to spend more money to get justice and fasten the process. An experienced lawyer may charge more fees than an inexperienced one.

By avoiding the above-mentioned mistakes, you will be able to make the best decision of your life.

Categories
Finance

An Insider’s View into Bike Insurance for First Time Buyers

Ticking off your wish list after buying that one particular bike you always wanted can mean nothing short of happiness. But bike isn’t the only thing that you need worry when buying one, its insurance follows that suit. Considering the plethora of options, how does one buy the right insurance plan? Fret-not! This article simplifies how to go about buying the perfect bike insurance policy for first time buyers. So, if this is your first time in selecting a bike insurance cover, you have come to the right place. 

For starters, it is essential to know why is bike insurance important.

Just like a prudent person buys health insurance for protecting their health, similarly you purchase a bike insurance cover. You can buy bike insurance online, as well as offline, thereby giving you the choice to select your preferred channel. When you invest in a policy that checks all the right boxes, you can safeguard yourself from the financial loss due to damages to your bike. In addition, legal liabilities are also covered under the policy.

Now let’s look at a few pointers that first-time buyers must consider when buying a two-wheeler insurance policy:

Type of insurance coverage:

You might have heard countless times about the necessity to buy an insurance cover. This comes from the legal requirement laid down by the Motor Vehicles Act. This law requires all bike owners to at least have third-party coverage.

You can buy from the two types of two wheeler insurance third party cover or a comprehensive cover.

A third-party policy is the one which provides protection from legal liabilities arising in the event of an accident or damages. Accidents can also result in injury to third person which may include death which is covered by a third-party policy. Thus, it is the bare minimum insurance coverage you need to have to legally drive a bike in India. Next is a comprehensive cover. While third-party safeguards from legal liabilities, it offers no coverage for damages and injuries sustained by you, the policyholder. Accidents cause damage not just to a third person, but also the rider. So, to overcome the limitations of a third-party policy, a comprehensive cover can be purchased. * Standard T&C Apply

Setting the right IDV:

IDV or insured declared value is the amount that insurance companies compensate in the event of a total loss to the vehicle. When purchasing an insurance plan, it is crucial to set the right IDV as it defines the compensation that may be offered for cases like theft of your bike or damage beyond repair. However, you need to remember that it directly impacts the premium. Hence, make sure to set the right amount that keeps your policy premiums within budget. For that, you can make use of a two wheeler insurance premium calculator too. * Standard T&C Apply

Checking the policy features:

Before finalising on an insurance plan, it is essential to check the policy features too. While different policies offer different features, a network garage facility for cashless claims is something that you shouldn’t miss. With such facility, you can lodge cashless claims with your insurance company for any repairs required.

Picking the right add-ons:

Optional policy covers can be used to enhance the coverage offered by a standard comprehensive plan known as add-ons. With the help of these add-ons, the parts like engine, consumables spares, and depreciation on your vehicle at the time of claim which are otherwise lower the policy’s scope or the claim amount can be insured. * Standard T&C Apply

With the above pointers, a new buyer can make a choice of suitable bike insurance policy. Also keep in mind that insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale.

Categories
Finance

Principle of Subrogation in General Insurance – Explained

Insurance is a legal obligation between you, the policyholder, and the insurance company to make good for the losses. It is no means to make profits, but in fact, reimburse the loss that may occur. A general insurance cover is purchased to safeguard yourself from the damages that either may be your fault or some third person. But it isn’t always the loss may arise when you are at fault.

A common example of such scenario is when an accident occurs without any fault of yours. It is an annoyance, but you still have to deal with the damages and a general insurance plan comes handy at these times. Insurance companies reimburse the loss or the cost of repairs. These losses can however be reimbursed from such third person as per the principle of subrogation.

What is subrogation in general insurance?

The principle of subrogation in general insurance substitutes the insurer in your place, i.e. the policyholder, to pursue such third person and reimburse the damages. It is a legal right transferred to the insurance company to claim the money from a third person. To simplify, subrogation can be referred to as substitution where the insurance company, instead of you, can follow up with either the third person or such third person’s insurer to compensate for the loss. However, all of it is done after the compensation is paid to you.

The principle of subrogation is categorised under the indemnity clause which is a contract between you and the insurance company. This clause mentions the obligation of the insurer to compensate for the damages caused.

How does subrogation work?

Subrogation is commonly observed in general insurance plans and involves three parties—the insurer, the policyholder and the third-party at fault. The process of subrogation starts when you, the policyholder, raise a claim with your insurance company for damages sustained due to such third person. Once this claim is settled, the insurance company initiates the process of retrieving the claim amount. But before that, all your legal rights to sue such third person are acquired by the insurer, in effect, substituting the insurer in your place.

Some insurance companies even include the amount of deductible in the subrogation process. In such a case, you will be entitled to claim the deductibles as well in your insurance claim once the third-party compensates for it. * Standard T&C Apply

Basis pointers concerning principle of subrogation

Here are some pointers about subrogation when it comes to third party insurance:

  • The process of subrogation is generally a transparent process that occurs between you and your insurance company. The rights concerning subrogation are mentioned in your policy document.
  • The insurer must acquire your consent before proceeding with the subrogation process.
  • Further, the subrogation by the insurer can only take place once you, the policyholder, have been fully indemnified. However, some insurance companies may begin the subrogation in your name even if the negotiation concerning the compensation is ongoing.
  • The insurance company has a right to charge legal offence against such guilty third person that has resulted in a damage to your vehicle.

These are some of the must-know about principle of subrogation. Make sure to carefully understand what is general insurance policy that you have bought and its features before buying. Also, remember, insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read sales brochure/policy wording carefully before concluding a sale.