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What are the tradeoffs to consider in selecting disability insurance?
When looking for a disability insurance policy, there are many things to consider. [ Since many disability policies offset or deduct social security disability benefits, there may be even more factors to consider when choosing a disability insurance policy. With so many different policy options, it can be hard to tell what is necessary and what isn’t. To aid in the process, we’ve narrowed it
down to the top 10 things to consider when choosing a disability insurance policy: Whether to purchase an individual policy or purchase a policy at work. If you are thinking of purchasing disability insurance, you may have the option of obtaining disability coverage through your employer’s group benefits plan. However, most of these plans limit your enforcement of coverage, should you ever become disabled, under federal ERISA law. ERISA affords great protection to the insurance company and almost none to you, the insured. The only advantage to these policies is that they are cheap or possibly even free, since your employer pays for most if not all of the premium. A better option, if you can afford it, is to purchase your own individual policy. Under this option, you have the advantage of enforcing your policy, should you ever need to use it, under more advantageous state bad faith law and deceptive trade practices acts. Also, make sure you have both short term and long term disability benefits. If you purchase disability coverage on your own, your premiums will be based on a number of factors including age, health and occupation. Individually purchased polices are more expensive but you get what you pay for. The specifics of your coverage can vary greatly depending on whether you purchase through your employer or not, so it is best to check both options to ensure you are getting the best coverage for your circumstances. ]
Expert answered|tjdcet|Points 11|
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Asked 6/6/2012 11:07:00 PM
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A corporation is liable for the torts and crimes that are committed by its agents and employees when they are acting within the scope of their employment. Directors, officers, and employees are personally liable for the torts and crimes that they commit within the scope of their employment. Can and should these principles be applied to the disaster at the Deepwater Horizon offshore oil drilling platform in April 2010? If so, how?
Weegy: First under US Corporate laws, [ a corporation is formed partly for the purpose of limiting liability and maximizing its ability to profit its shareholders within the tax structure of the state in which it does business so long as the corporation complies with state and federal laws. When a corporation commits a tort, which is a provable harm done to a person or entity; it should have procured before hand, sufficient insurance coverage to cover that potential liability. However, if it commits a crime, no insurance under the sun will cover criminal activities. For purposes of this discuss, we can assume that the incidence that took place off the Gulf of Mexico was not committed by a crime syndicate, as BP and Transocean are NOT related to any Mafia syndicate, furthermore, the incidence that happened was not attributable to an intentional act. It was, at most, caused by "Negligence". Be it BP or Transocean (TO) or jointly, the Plaintiff (a person, any legal entity suing for recovery of damages) in a lawsuit must prove that either BP, TO or they jointly, had failed to conduct its exploration in accordance with the safety rules and procedures mandated by US Oil drilling standards. In order to ensure a favorable outcome, if the Plaintiff could FURTHER prove that BP and TO's drilling activity leading up to the date of the incidence was not in compliance with "industry standards". This is the key point Plaintiff must prove. Sometimes, governmental rules and regulations concerning drilling safety may not be as stringent as "Industry Standards” in the off-shore drilling industry. When an activity is "inherently dangerous" (there is no other safer alternative to lessen the dangerous aspect of this commercial activity) as evident in off-shore oil drilling, then, under most laws in US, it is judged by the “Strict Liability in Tort" standard. ] (More)
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Asked 6/6/2012 9:51:22 AM
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