Where do the self-employed turn for health insurance these days? It used to depend upon their profession. Professional organizations and associations were once a strong source of health insurance for everyone from actors to writers to contractors to freelance consultants, but those days are quickly fading into memory.

As medical expenses increase, professional associations are finding that the cost of providing group insurance is just too high to continue offering the service to their members. More often, insurance providers are dropping professional associations from their client lists.

This is a heavy issue for members of these associations, especially those who are older or have a history of health problems. Finding a new insurance provider for them will either cost considerably more than they can afford or stamp out their chances of being accepted by a new provider entirely.

At its height, association health coverage was so enticing that it was often used as a tool to recruit members. Robert Laszewski, a Washington-based health policy consultant and former insurance executive, says, “The association business used to be a huge part of the group health insurance business. Now it’s like the buggy-and-whip business – almost entirely gone.”

MIB is committed to protecting the confidentiality of the information in its files and the privacy of the individuals to whom it pertains. MIB uses state-of-the-art computer and network security technologies to support these commitments.

Until recently, far more popular with home buyers than mortgage insurance was the adjustable-rate mortgage or “piggyback” loan, which promised great savings and the ability to buy in with little or no money down. Nowadays, the housing market isn’t as hot as it once was and first time home buyers and those with small amounts available for a down payment are returning to traditional fixed-rate mortgages backed by private mortgage insurance, or PMI.

A monthly rate is usually charged for mortgage insurance, a fee determined by the size of the mortgage. If the home buyer is unable to pay the mortgage, then the lender is covered. The guaranteed payment makes lenders more agreeable to writing mortgages for those who may not otherwise be a very promising candidate for a home loan.

Another plus is that the home buyer is not doomed to continue purchasing the mortgage insurance for the life of the loan. Once the buyer has built up 20 percent equity in the home, the insurance can be cancelled. This can usually be accomplished in about four or five years.

Pat Lamb, president of the mortgage division of First National Bank of Arizona in Scottsdale, said that as opposed to the formerly popular adjustable-rate mortgages, “in the last six months, the mortgage insurance side has become much more competitive.”

In today’s marketplace, most businesses need information in order to make the most appropriate decisions. Insurance companies are no exception. To reach an underwriting decision that is fair to the applicant, to the existing policyholders, and to the company requires access to accurate, cost effective, reliable information. MIB serves as a reasonable balance between the consumers expectation of privacy and the companies´ need for information. By exchanging brief resumes of information deemed significant to the underwriting of the application, companies are able to protect themselves from those who omit or attempt to conceal facts essential to the underwriting process. This not only protects the company from unreasonable losses, it benefits applicants in the form of lower premiums and existing policyholders in the form of increased policy dividends.

I’ve received a lot of questions recently about the MIB (Medical Information Bureau), so for the next few days, I’ll be explaining some things. Please note, some of the answers are straight from the MIB.

No. The only information reported to MIB are brief coded resumes of medical conditions, tests, or other conditions significant to health or longevity that were found during the underwriting of your application.

There are a few components that need to be apart of every insurance contract. Ensure validity by making sure that the following are apart of each of your insurance contract experiences.

Offer and Acceptance. After you’ve filled out the forms sent to you by the company (your offer), the insurance provider either accepts your offer or doesn’t. Once they cash your first check or sign the forms, you have an official acceptance.

Consideration. Consideration is another word for the premium that you pay your provider. It also refers to the money paid to you by your provider for a claim you make. Both parties in the contract offer consideration making it an exchange of equal value and therefore a valid contract.

Legal Capacity. Are you over the age of 18? Are you sane and of right mind? If your answer to either of these questions is no then you do not have the legal capacity to take part in a contract.

This goes both ways, however, as your insurance provider is bound to the legal capacity rule in that they must be in compliance with all rules and regulations of your state.

Legal Purpose. This is inherent to an insurance contract as insurance is legal – as long as the company is legally up to code and you’re of legal age – but your contract isn’t valid if it is agreement to illegal activities.

If you’re planning a small nuptial ceremony with a homemade cake in the backyard, then this insurance policy is not for you. But if your guest list is in the hundreds and the bridal gown is designer, then you may want in on the last development in insurance.

Not just for weddings, special events policies have always been available to protect investments should the special event be cancelled due to inclement weather, ill health or other unforeseeable event. The change is in the new proviso for events ruined by “change of heart.”

As far as event insurance is concerned, it’s almost never too late. Most policies are available up until 24 hours before the event and premiums go for about $100. They cover costs for an event if one of the main participants fails to show up (bride or groom, yes, but also the guest of honor for a birthday or anniversary party, bar or baht mitzvah) including:

* Deposits
* Professional therapy or counseling
* Cancellation fees
* Damage to property (owned or rental) due to weather
* Photographs (if a re-shoot is necessary or if photographs are lost, damaged, stolen or not developed incorrectly)
* Gifts, specialty attire, and jewelry (for damages or replacement if lost, damaged or stolen)

If you are on SSDI (social security disability income) you are most likely uninsurable.

Unfortunately because you are receiving SSDI payments as a result of chronic health condition, the likelihood of you being able to qualify for fully underwritten term life insurance is minimal.

If you’re in need of coverage, you may qualify for up to $300,000 in accidental death coverage without a medical exam! Here are just a few of the policy’s features:

• No physical exam required

• Guaranteed acceptance if you’re between the ages of 18 and 69

• One price based on the amount of coverage you choose

• Premium guaranteed never to increase

• Coverage continues through age 70

Click here for more information on accidental death insurance.