What is Insurance

Insurance is a means by which a person or entity who may be at risk of suffering a loss, transfers the risk of that loss to another party.

  • Loss is the potential reduction or total elimination of some form of value
  • Risk represents the potential that a random, unforeseen event could cause a loss in that value
  • Risk transfer is the idea that I can pass the cost of that loss from myself to another party so that any potential loss to me can be mitigated or avoided

Example

I own a house valued at $200,000. Anything that might reduce or eliminate that value is a potential risk of loss to me (fire, tornado, flood, etc.).

  • To protect myself from risk, I buy homeowners' insurance
  • In return for a monthly payment (premium), the insurer agrees to pay me a benefit if I ever suffer a loss from an unforeseen event
  • By purchasing insurance, I transfer the risk of a potential loss from me to the insurer

Our Role as an Insurer

USAble Life insures our customer's financial security and provides protection against the risks of loss of life, health and/or income.

  • Term life insurance provides a financial benefit to the surviving members of an insured person's family
  • Accident insurance provides a financial benefit if the insured suffers loss of life or limb as the direct result of covered accident
  • Disability insurance provides a financial benefit of income replacement if the insured is unable to earn a living due to a covered sickness or accident

Our Product Offering 

  • Our products complement the health insurance offered by our Blue Cross Blue Shield partners
  • Our products extend or enhance protection beyond health insurance
  • Employers view our products as part of an employee benefits package

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