Insurers

In the past, some people with cancer or other chronic illnesses ran out of insurance coverage because their health care expenses reached a dollar limit imposed by their insurance company. Under the health care law, insurers can no longer impose lifetime dollar limits on essential health benefits and annual limits are being phased out by 2014.

Insurers are now required to cover a number of recommended preventive services, such as cancer, diabetes and blood pressure screenings, without additional cost sharing such as copays or deductibles.

An insurance broker will compare the policies of different insurers to offer the most favourable premiums.

Insurers say public apathy about life insurance is the result of low incomes, the poor management of insurance companies and cultural preferences.

The contract of insurance is defined as a contract by which the insurers agree to indemnify the person assured from any loss which he may sustain by reason of the perils insured against.