Importance of Income Protection Insurance in a Person's Life

Income protection insurance insures the individual income and pays the benefits when they need. Income protection insurance gives benefits to an individual when the person is not getting income from his income sources.

Income protection insurance provides protection for the person in many ways, like loss of current income due to loss of job or unable to work due to some temporary or permanent disability. It is very much helpful for the employees, as in cases when they lose their current job or when they are unable to do work due to a disability like health problems or an accident, the insurance company provides financial security.

For example: If a person is temporarily disabled to do work due to a road accident, then the person cannot work and does not get income from his job. It is quite a risk for that person to manage his expenses during these days. If the is person already holding income protection insurance, then the insurance company gives some income at a percentage on his salary to manage his expenses.

Importance of income protection insurance in a person's life is as follows,
1.Secures person life style: With the help of income protection insurance, you can maintain your life style without too much disruption in the event of illness or serious injury that prevents you from working. This insurance gives money at a percentage on your salary, when you are disabled.

2. Provides safety for your existing savings and investments

If a person bhttp://www.blogger.com/img/blank.gifought a home with the help of a bank loan and suddenly the person looses his income due some disability to do work, then the person will not be able to pay the installments of the loan. If the person has income protection insurance, then insurance policy gives some money to the person, which allows him easily pay the installments.

3.It secures your children education If you have income protection insurance, you can give assurance for your children, that you are able to pay their school fees, exam fees and preserving their life styles even when you are unable to work. Due to all the above reasons we can say that income protection insurance is very helpful for a person.

All You Need to Know about Different Kinds of Life Insurances

Life insurance is an bond between an individual and insurance company. In which the individual pays some amount of money to the company in order to get benefits after his death.

Life insurance is an agreement between the insured and the insurer. The person who insures his life is known as insured and the company which is offering insurance is known as insurer. In this contract the insured requires to pay some amount of money at regular intervals of time known as premium. In exchange, the insurer gives some benefits to an individual over life time or gives some amount of money to the beneficiary of the policy after insured death.

Life insurance policies are classified based upon some parameters like benefits coverage, number of years, premium and other regulations etc.

Life insurances are mainly divided into two types, they are,

1. Term life insurances
2. Permanent life insurances

Term life insurances
Term life insurance is a type of life insurance policy for a particular period of time. In term life insurance policies the insured need to pay premiums for fixed period. The premiums remain same over the period. The terms and conditions of this type of life insurance policies are that the insurance amount will be paid only on the death of the insured. In case the insured does not die during the term of the insurance, the insurance amount does not get carried over. That means, after the term of the insurance the insured will not get any benefits or the insurance amount. The insurance premium of term insurance increases with respect to the increase in age of the insured.

These policies are tax free.

Term life insurance policies are divided into two types, they are

1. Group term life insurances: Generally these policies are taken by employer to his employees, in which the employer pays premiums to the insurance company. Either employer pays these premiums from business money or it can be deducted from individual employees salary. This type of insurance is gaining significance in the developed countries.
2. Level Term life insurances: Level term life insurance means that the death benefits does not change during the term of life insurance coverage. In this policy the premium amounts will be same. And premium are paid for a fixed period.

Permanent life insurances
Permanent life insurance policies are a type of insurance policies. It gives benefits for the individual for the whole life. These policies does not have maturity time, unless the policy holder fails to pay the premiums.

The various types of permanent life insurances are as follows

1. Whole life insurance policy: This policy provides benefits to the individuals for the whole life. This policy gives guaranteed death benefits, and guaranteed cash value for the individual. In these type of policies insured may have the option to rise substantial investment on his premium amounts. Because here the insured pays premiums for a long period. The advantage of this policy is, insured can gets continuous benefits till the death of insured.
2. Universal life insurance policy: Universal life insurance policy is a very flexible option for the insured. In this policy insured has flexible premium options and death benefits. Flexible premium and death benefits means insured gets a chance to increase or decrease his premium amounts at any time and also as same for death benefits.
3. Variable universal life insurance policy: This policy allows the insurance holder to make investment by his premiums. Here the insured has flexibility for their premiums. The insurance holder is responsible for the investment made by the premiums.

Life insurance policy is must for every individual, as it gives security to our family after our death.

All you Need to Know about Reinsurance

Reinsurance is a type of insurance policy, mainly purchased by the insurance companies. Reinsurance is the contract between the insurance company and a third party company, in which the insurance company pays the premiums to the third party, in exchange to receive benefits when huge loss occurs. Here the third party means another insurance company.

Reinsurance is purchased by the insurance company to transfer the risk from insurance holder to another insurance company. It is very useful to the insurance company, when there will be heavy loss due to the natural disaster.

For example: In big cities all the individuals are holding home insurance policy provided by an insurance company. Then suddenly a big earthquake occurred, due to which many buildings are collapsed. In such case, all the people want their insurance benefits. It is a heavy risk for that insurance company to pay money for all the policy holders. In such type of cases the insurance company transfer their policy holders loss to the reinsurance company.

With the help of reinsurance, insurance holder gets guarantee benefits from their policy as well as insurance company, minimizing the risk.

Reinsurance is mainly divided into two categories they are

1. Finite reinsurance
Finite reinsurance is reinsurance policy that covers a finite proportion of loss of the insurance company. That means when huge lose occurs for the insurance company, the insurance company recovers reinsurance only for the stated proportion from it's reinsurance company.

2.Financial reinsurance
Life insurance companies takes this type of reinsurance to keep profits form one year to next.

Importance of Worker Compensation Insurance for Employer and Employee

Worker compensation insurance is another type of insurance policy, that protects the employer and his employees from the losses, which arise while working on a job.

Benefits for employer

1. It covers all the losses which are related to the workers compensation and their safety.
2. It benefits to the employer, when an employee is injured while doing his job, then the employer is responsible for the injuries. It provides compensation for medical expenses, hospital expenses and providing some portion of wage when they are disable.
3. Employer is responsible for the workers death while they are operating machines or while they are driving business vehicle.
4. To protect the employee from work place violence, terrorist attacks and natural disasters. While they are on the job.

Benefits for employee

1. It covers medical expenses while they are injured on the job.
2. It secures employee's wages, while they are disabled to do work due to injury.
3. It provides death benefits to the employee dependents, if employee dies while doing the job.

Worker compensation is very much important for smooth running of a business, as man power is the major asset of an organization.

How Drug Addiction Can be Treated?

Less than ten percent of people with substance abuse disorder and less than forty percent of the people with a substance dependance disorder requires treatment. The main objectives of drug addiction treatment are abstinence, relapse prevention, and rehabilitation.

During the initial stages of abstinence an individual who suffers from chemical dependency may need help avoiding or lessening the effects of withdrawal and this is called detoxification. In this, patient may be treated in a hospital or other inpatient settings and the medication is given to reduce the symptoms of withdrawal and medical monitoring is also provided. Medications used for the detoxification depends on the substance abused and also on the health of the individual.

Another way to treat the drug abusers is through rehabilitation and it includes treatments like residential treatment also called as inpatient treatment, out patient, local support groups, extended care centers, and recovery treatment. Some rehab centers also offer age and gender based treatment programs. People who have less severe drug dependency can be treated through outpatient treatment program and the patients who have severe addiction can be treated in an inpatient drug treatment center.

It is also important to consider if the drug addict has other health problems while providing treatment for drug addiction. An addicted person also needs help from the family members and friends in the treatment process and these addiction problems can also be treated by giving counseling. Treatment for substance dependency for children and adolescents is further different from that in adults. Relapse is a common part of the recovery process from drug addiction and it provides an opportunity to learn from the mistakes and correct the treatment course.

Know About Techniques Used In SC Engineering

A company can sustain in this competitive global market by supply chain engineering which involves modern production and operations management (POM) techniques. This technique helps in adding flexibility to the system, and reduces production cost. Supply Chain Engineering includes inventory management techniques in supply chains, RFID technologies, methods for the design of flexible and re configurable manufacturing systems, as well as real time assignment and scheduling methods.

Inventory Management:
The Inventory Management system is useful in providing information to efficiently manage the flow of materials, effective utilization of people and equipment, coordinate internal activities, and communicate with customers. Inventory includes work in progress and finished goods, and closing stock in a supply chain of a company.

RFID Technology:
RFID can be expanded as radio frequency identification and it is a technology that is used to track and identify an object. It uses radio waves to exchange the data between a reader and the electronic tag attached to an object.

Real time assignment and scheduling methods:
These real time production methods are used in assigning sequential jobs to plural processing machines with different ability to adjust to such changes of environment, as job tendencies and production site situations.

Manufacturing Systems:
Flexible manufacturing system is manufacturing system which provides flexibility that allows the system to react in the case of changes, whether predicted or unpredicted. Re configurable manufacturing system is designed for rapid change in its structure, as well as its hardware and software components, in order to quickly adjust its production capacity and functionality within a part family in response to sudden market changes or intrinsic system change.

All these techniques together have created a value for supply chain engineering, which is playing a crucial role in the business processes.

Know About Benefits of Hospital Management Software

With the growing competition in every industry, all the companies in the industry are making efforts to be ahead of the competition. To do this the companies must offer wide range of products and services to the customers and continuously develop the products to satisfy the customers. Organizations needs customized software solutions as they are cost effective and deliver quick results. This situation is also applicable to the hospital industry and hospitals also make use of customized software products to improve the quality of the service and excel in hospital management. These are called as the hospital management software. This software help the hospital personnel to take good care of day to day services and offer the patients a harass free customer service.

Hospital management software offers following benefits for the hospitals:

• Hospital management system helps the hospital management to serve fast and this results in less number of staff serving more number of patients.
• It also helps to computerize the process of gathering, assembling, and retrieving patient information and thus helps to improve the reply time to the demands of patient care.
• Hospital management software helps in simplifying the accounting process by eliminating the complexity.
• It also helps in faster administrative, handling of patients and their clinical assessment.
• It helps the doctors to access the medical records of the particular patients easily and also reduces the waiting time for patients.
• It helps the hospital staff in billing all types of patients like Outpatient, Inpatient, and Referral and also gives automatic redeployment of charges for services like food, bed, beverages, telephone, lab test and medicine issued etc.

There are large number of companies in the market who are providing the hospital management software having different features and it is the duty of the hospital management to select the hospital management software with best features which fulfills the needs of the hospital.

Thai Special Spicy Noodle Soup Recipe with Prawns

The Thai style prawn and noodle spicy soup gives traditional Thai flavors. It is also considered to be ultra healthy. The basic element used in this variety is the special fish sauce called Nam Pla that is used in huge varieties of Thai dishes. Here is the list of ingredients required and process of preparation of the Thai special spicy noodle soup with prawns.

Ingredients Required

• 1 tablespoon of groundnut oil
• 1 stem of lemongrass sliced into 3 pieces
• 1 red chilli cut into thin matchsticks
• Ginger cut into thin matchsticks
• 2 large garlic cloves
• 1 1/2 tablespoon of light loy sauce
• 3 tablespoons of Nam Pla
• 100g baby corn
• Juice from 1 lime
• 200g of mushrooms
• 4 spring onions
• 275 grams of raw king prawns
• 150g rice noodles
• Chopped coriander
• Ground sea salt and black pepper to taste and 1.2 liters of vegetable stock

Heat the oil in a pan. Add chilli, ginger, garlic, and lemongrass. Cook them under low heat till they get golden brown color. Now the stock, the soy sauce, nam pla, and lime juice are added to it. They are allowed to heat and boil at low heat with occasional stirring. After about 8 minutes, add the baby corn. Then mushrooms and spring onions can be added. Ensure that they are cooked soft at low heat.

In the mean time, rice noodles have to be soaked in boiling water for 5 minutes. They are then drained and thoroughly rinsed with cold water. Then transfer them to a tray. Add the king prawns and coriander to the cooking mixture. Once the prawns turn pink, add the rice noodles and combine all the ingredients well. Season it with salt and pepper. If desired, you can add more nam pla or soy sauce for taste.

It can be served with hot steamed rice. While preparing, ensure that a good quality soy sauce is used.