If you are looking for a flexible and inexpensive coverage against illnesses and accidents, then short term insurance is for you. The coverage in this plan ranges only from 30 to 120 days. There are also others who offer year long insurance coverage. The most common of people who would get this type of insurance are those who does not need any coverage for any pre-existing conditions. Typically, these are good for those who are waiting for their next job or waiting for another long term plan. They are also the best choice for students who have freshly graduated and are waiting in line for their first jobs. They also apply to people with non traditional jobs, temporary employees and any short term income workers. Visiting or foreign students can also avail of short term health insurance.
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What is the True Definition of Insurance?
Insurance is a term which is traditionally used to define the method used to mitigate the impact of an unexpected loss to a person or to an organization. This is done by moving the risk of loss by one person to another entity or organization by making a payment to the organization as fees for accepting and managing the risk. The two parties involved in an Insurance contract are called Insured and Insurer, where insured is the person who moves the risk of loss to another and is being protected whereas insurer is the person who accepts this risk in place of a certain fees received from the insured. The benefit the insured person obtains from this contract is the promise of a fixed amount to be paid by the insurer in case of any loss to the insured which will help to minimize the impact of loss to the insured.
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