You can choose between two types of visitors insurance: individual insurance and group insurance. Individual insurance is usually offered by a specialist insurer, other than your visitors institution. You have the choice to choose any school that suits you. For this type of insurance, several factors are taken into account in assessing the level of your contribution: your age, your sex, your health, your lifestyle, etc.. For example, know that most young people will benefit from a lower rate of contributions, women have 10% to 30% reduction, the non-smoking people will benefit from a reduction of 30%. Group insurance, meanwhile, offers a flat rate that is the same for everyone without regard to sex, age and other individual factors. It is this type of insurance that your visitors institution subscribes you if you leave it to him to take care of. In short, if you are still young, healthy and financially secure, you should take out personal insurance, otherwise, group insurance for you.
How is the calculation of the contribution?
There are two ways of calculation to evaluate your monthly dues: calculation from the initial capital and one from the capital outstanding. The calculation from the initial capital is quite easy to follow, since the value of your premium remains constant throughout the duration of the repayment period. The contribution rate is between 0.18% and 0.45% of the total amount of your visitors, depending on the institution. This type of calculation you are often offered if the visitors institution that makes you insurance office. In addition to being easy to follow and to provide in its cash, this calculation method may also be useful if you plan to make a prepayment.
To calculate from the outstanding capital, the value of your monthly fee varies proportionally to the outstanding capital. Your contribution therefore a downward trend during the repayment period. After landing, the fee is calculated monthly up to 0.50% to 0.70% of the outstanding capital. In general, this method of calculation saves you money compared to the calculation from the initial capital, unless you plan to make a prepayment where you should be more careful. Finally, it should be said that the monthly value of your course fee depends on the amount of your visitors: the higher the amount, the higher your premium will be consistent us visitor insurance
What type of insurance and calculation method should we trust?
For the choice of insurance, it is best to learn in between. As we said, if you’re young, healthy and has a stable business that does not have much risk you should take out personal insurance. Otherwise, and if you do not want too break your head, you could always opt for group insurance. For your choice of calculation method for the assessment, you should know that in general, the calculation from the outstanding balance will be more advantageous. However, if you plan to make a prepayment before the