Three Types of Indemnity Insurance PlansThere are several types of insurance policies that may be of interest to you. Insurance can provide a source of protection or it can also provide a source of investment. You need to understand that insurance is not an investment, and purchasing unnecessary coverage will always be a waste of money. It is important that you understand all of the many options that are available to you. Insurance provides coverage for a variety of events. Indemnity policies include two parts, the deductible and the co-insurance. The amount of your deductible will depend on your overall health care costs. The co-insurance is paid by the insurance company when you make a claim. There are several different types of indemnity health plan options, including the all risk option, the all indemnity plan, the provider-based indemnity plan, the managed care option, and the point-of-service (POS) option. These are just some of the more common indemnity plans available. When you purchase insurance you want to make sure that you have adequate protection. If you are unsure of how much coverage you require, you should talk with a qualified insurance broker. A broker would be able to provide you with advice about the level of protection required for your particular needs. A good broker would also be in a position to advise you on what your level of risk would be, the property and equipment that you would need, and the extent to which you would be protected by the building regulations in your area. The broker could also help you determine whether purchasing a low premium indemnity policy would be sufficient for your needs, or whether you would require a more comprehensive policy that including accidental damage cover and liability cover. Obtaining planning permission before starting work or immediately buying a property may seem like a complicated process. However, it actually doesn’t need to be. In many cases it is unnecessary. For example, in certain cases it may not be necessary to get planning permission for minor alterations to a property. It may not even be necessary to get planning permission for installing a heating system in some cases. It may not even be necessary to get building regulations inspected, as in some cases you can build a wall as long as it is not connected to your home by a fence or boundary wall. When considering hospital indemnity policies, it may be prudent to ask your doctor or healthcare provider whether you are eligible for a discount on the cost of hospital services. Many medical professionals offer this facility on a cost-reimbursement basis. If you have a high deductible or exceptionally high medical expenses each month, you may want to check with your insurer to find out if you may qualify for a lower premium and larger deductions. Of course, there are several different types of indemnity health insurance plans that you may also want to consider. One type is an HMO or Health Maintenance Organization plan. These plans typically restrict the out-of-network physicians who are allowed to recommend healthcare services. An HMO plan typically requires the patient to choose his primary care physician. If the primary care physician concurs that the patient requires in-network health care services, then the patient is required to select another physician. Another type of indemnity insurance policy is a PPO or preferred provider organization. A PPO plan permits a doctor’s referrals of in-network health care services, but only to providers who accept a specific percentage of the fees paid by the patient. Also, PPO plans often require co-pays, deductibles and coinsurance for health care services that are received outside of the network. This differs from most other indemnity policies in that it does not usually allow out-of-network providers to be included in the physician referral list. There are a number of benefits to purchasing either an HMO or PPO health insurance plan. If you are self-employed, you will benefit the most from an HMO or PPO plan. These plans typically pay a higher percentage of your medical costs for both in-network and out-of-network consultations. They also often carry reasonable co-pays and deductibles for office visits and laboratory expenses. On the other hand, indemnity plans usually have higher premiums, fewer coverage options and restricted benefits.