...UNIT LINKED INSURANCE PLAN (ULIP) Definition, Working principle, Comparison with Term Plan & Mutual Funds, Benefits & Shortcomings of ULIP, IRDA Guidelines of 2010 & their Impact, Summary DEFINITION * A Unit Linked Insurance Plan (ULIP) is a product offered by insurance companies that unlike a pure insurance policy gives investors the benefits of both insurance and investment under a single integrated plan. * This is an insurance policy that combines life insurance, with investing in the market. * As these investments in the market perform, the investor gets her returns. Several pension plans, child plans or retirement plans are actually ULIPs, in that they follow the same philosophy of investing money in the markets. HISTORY * The first ULIP was launched in India in 1971 by Unit Trust of India (UTI). * With the Government of India opening up the insurance sector to foreign investors in 2001 and the subsequent issue of major guidelines for ULIPs by the Insurance Regulatory and Development Authority (IRDA) in 2005, several insurance companies forayed into the ULIP business leading to an overabundance of ULIP schemes being launched to serve the investment needs of those looking to invest in an investment cum insurance product. WORKING PRINCIPLE * A ULIP is basically a combination of insurance as well as investment. * A part of the premium paid is utilized to provide insurance cover to the policy holder while the remaining portion...
Words: 3765 - Pages: 16
...General Motors. The company face loss $286 million in the second quarter and over $1billion in the first quarter. GM losses are largely tied to be North American operation and rising supply, fuel, healthcare, and pension costs. GM makes money not on auto sales auto financing.GM is overly dependent on the U.S automobile market; more than two thirds of its sales are made in the United States. In addition it is overly dependent on its financing division. GM facing economic threats at home and abroad and stiff competition from more differentiated and lower priced products, GM manager must decide how it will produce and market its vehicles in the future. EXECUTIVE SUMMARY: This paper will explain GM’s most pressing challenges. Overcapacity is negatively impacted their financial results, brutal international competition is causing GM to react with target costing strategies, rising fuel prices directly impacts their cash flows and complicates capital budgeting strategies and tactics and their ongoing health care and pension costs continue to color their future earning potential. These challenges will be addressed by using performance assessment measures. The financial assessment measures include net income and their market share value, liabilities of health care and pension benefits, revenues, target costing and capital budgeting. Non-financial measures include customer satisfaction and branding effects on sales volume....
Words: 1348 - Pages: 6
...wake of Obama Care, United States battled with the questions of universal health care for all. Why do other countries less influential like Cuba have universal health care and we do not? What is the stakes behind not having that kind of coverage for all U.S. citizens? Investigating country of France, there are plenty of reasons why we should as Americans have universal health care. What are some pros and cons of universal health care? Pros of universal health care are the number of uninsured U.S. residents has grown to over 45 million. Health care has become increasingly unaffordable for business and individuals. We can eliminate wasteful inefficiencies such as duplicate paper work, claim approval, insurance submission, etc. Medical professionals can concentrate on healing the patient rather than on insurance procedures, malpractice liability, etc. Free medical services would encourage patient to practice preventive medicine and inquire about problems early when treatment will be light; currently patients often avoid physicals and other preventive measure because of the costs. Cons of universal health care are there is not a single government agency or division that runs efficiently; do we really want an organization that developed the U.S. Tax Code handling something as complex as health care? Free health care is not really free since we must pay for it with taxes, expenses for health care would have to be paid for with higher taxes or spending cuts in other areas such as...
Words: 2834 - Pages: 12
...Flat Tax Rate Eliminates Complicated System The first quarter of each year marks a period of turmoil and angst for many Americans as they race to complete the complicated forms of the current years’ federal income tax return. With more than 66,000 pages and 893 forms to choose from, the current Internal Revenue Service Code screams difficulty (Mitchell, 2005). Most politicians agree that changes are necessary; however there remains to be a major debate of ways to accomplish changes without stressing the economy. The department of treasury has compiled extensive research that has resulted in various options on various ways to reform our current system (Mitchell, 2005). A flat tax rate on income could be a solution to this issue and many have invested time in devising feasible plans. There are pros and cons to everything, but I believe the benefits would far outweigh the faults in light of our countries current economic situation. A flat tax, taxing everyone at the same rate, with basic deductions as well as no income tax burden for persons or families who make less than a specified amount during the year, would be fair. Most people feel the current system is unfair with its double taxation and varying tax brackets ranging anywhere from 10% to 33% of the adjusted gross income (“Congressional Budget Office”). The proposed 15% or 17% flat rate for all American would benefit everyone, considering in 2007 the overall average federal tax rate was 20.4 percent (“Congressional...
Words: 957 - Pages: 4
...Keeping the American Professionals Union Out Micah B. Dalcoe Columbia Southern University As the U.S. life expectancy continues to increase, the health care industry exponentially grows. The life expectancy rate in the United States has increased by 1.5 years in the last decade to about 78 years (“Life expectancy reaches,” 2009). This increase in life expectancy is attributed in part by the growth and improvement of the health care industry. In 2010, $1.75 trillion in revenues was reported along with more than 14 million people reported as being employed in the medical career field (“The health and,” 2013). A large amount of this industry is dominated by nurses. Nurses are the primary point of contact for patients is often the nurse. Nurses duties include performing frequent patient evaluations, injury care, phlebotomy, out-patient care plans, and patient progress checking (“Nursing job descriptions,” 2013). Although doctors and hospital admin are important to hospital operations, nurses are critical in the support and skills they provide in accomplishing the mission of providing stellar patient care to its customers. No hospital can operate without the contributions of nurses, and for this reason, the hospital must work in good-faith to meet the needs of the nurses. The result of failing at this requirement spells disaster, starting with unionization. The recommendation of the human resource office is to avoid unionization for the good of the nurses and the overall quality...
Words: 1880 - Pages: 8
...PAD 530 Week 1-11 Discussion Questions Solved Follow www.hwmojo.com link below to purchase solution http://www.hwmojo.com/products/pad530-discussions We have all assignments for PAD 530. Email us support@hwmojo.com Week 1 DQ 1 "Public Human Resource Management" Please respond to the following: • Analyze the topics discussed in Chapter 1, with the exception of the laws. Select two topics and discuss two positive effects and two challenges the topic poses for human resource departments in the public sector. Follow this Format when responding: Positive Effect 1 Place your response here! Positive Effect 1 Place your response here! Challenges 1 Place your response here! Challenges 2 Place your response here! References: Cite your sources for information and data provided, just as you would in any written assignment. See the Citations.doc (Located in the Student Center) for more information. Week 1 DQ 2 "Public Human Resource Management in the News" Please respond to the following: • From the e-Activities, discuss the current event you reviewed from the selected agency and determine the cause of the issue, noting if the cause was due to neglected public bureaucracies from elected and appointed officials. Discuss at least two results of the issue. Follow this Format when responding: Current event and cause of the issue Place your response here! Was cause due to neglected public bureaucracies from elected and appointed officials...
Words: 4185 - Pages: 17
...1. Background 2. Measuring Economic Activity 2.1 GDP 2.2 Investment 2.3 Consumption 2.4 Savings 2.5 Rate of interest 3. Foreign Capital 3.1 Comparative Trade Advantage 3.2 Trade Deficit 4. Long Run Factors affecting Economy 4.1 Politics 4.2 Education 4.3 Corruption 4.4 Population 4.5 Health 5. Monetary Policy and Inflation 5.1 Exchange Rates 5.2 Inflation 6. Labour Market and Unemployment 7. Conclusion 8. Bibliography 1. Background Portugal joined European Union in 1986 and the euro zone in 2002. It is a developed country and has a very high human development index with the current world ranking of 41. Human Development Index is a composite statistic used to rank countries by level of “human development” measured in terms life expectancy, literacy, education, and standards of living in a country. However, in 2011, the country was hit by a sovereign debt crisis and is now under the bailout programme via the European Union – International Monetary Bailout Fund. As the country is under euro debt, the market pressure will continue to keep the state volatile. 2. Measuring Economic Activity 2.1 GDP Exhibit 2.0 Portugal using euro...
Words: 2858 - Pages: 12
...develop that knowledge and assist you in understanding how health care is financed and how health insurance influences patients and providers as important foundational information for your role as a future health care worker. Fill in the following matrix. Each box must contain responses between 50 and 100 words using complete sentences. Include APA citations for the content you provide. | |Origin: When was the |What kind of payment |Who pays for care? |What is the access |How does the model affect patients? |How does the model affect providers? | | |model first used? |system is used, such | |structure, such as |Include pros and cons. |Include pros and cons. | | | |as prospective, | |gatekeeper, open-access, | | | | | |retrospective, or | |and so forth? | | | | | |concurrent? | | | | | |Indemnity |In 1910, Montgomery |Indemnity plan provide|The insurance plan is |Indemnity has...
Words: 2220 - Pages: 9
...General * July 16, 2009 Icelandic parliament passed motion approving EU Membership application. * Nearly all Icelandic politicians were convinced that EU membership would place constraints on the country, particularly in the fisheries and agrarian sectors, rather than provide benefits * Iceland is already a member of the European Free Trade Association(EFTA) * Iceland must resolve its debt disputes before becoming a member of the EU, according to rules of the EFTA. Meaning, they must pay back GB and the Netherlands IceSave * Icesave, an online subsidiary of Landsbanki bank, collapsed along with its parent and Iceland's other major banks in October 2008, leaving 340,000 British and Dutch citizens out of pocket. * Both Britain and The Netherlands reimbursed their citizens' deposits and have since been seeking repayment from Iceland. The U.K. is owed about 2.3 billion pounds ($3.6 billion) in compensation and The Netherlands euro1.3 billion ($1.7 billion). * Should the taxpayers of Iceland have to pay for the Hubris of a few bankers? * Iceland's failure to settle the dispute has delayed payments from a $4.6 billion loan from the International Monetary Fund. Some legislators believe Britain and the Netherlands could also block Iceland's application to join the European Union until an Icesave deal is signed into law. The Financial Crisis * Under-estimation of the risk of a foreign currency shortage, and a subsequent lack of access to foreign...
Words: 1890 - Pages: 8
...Abstract This paper address the challenges to determine what parts of the Affordable Care Act can apply to Puerto Rico and the impacting the Medicare, Medicare patient services and employees. Most of the people in the island think that the Affordable Care Act is giving more security and help to address the existing disparities in the healthcare system. With the new Patient Protection & Affordable Care Act, the insurance companies can no longer drop the coverage if one becomes sick, bill individual into bankruptcy because of an annual or lifetime limit, and they will not be able to discriminate against anyone with a pre existing condition. Most of the Medicare and Medicaid community suffers do to the imbalance in our healthcare system this situation affects the quality of care and places a financial strain on the government, individuals and families, employers and employees, and public and private providers. Most of the Medicare beneficiaries have to enroll in the MA program to help them to succeed and receive the adequate treatments without MA to help the disadvantaged seniors on the island, Puerto Rico's elderly citizens will be forced to turn to Mi Salud in larger numbers. Although Mi Salud is scheduled to receive an average of $690 million annually during the next five years, the widening deficit in MA funding is likely to create a net negative impact on federal funding for healthcare in Puerto Rico. The Health care Policies and Issues Ethical concerns and issues ...
Words: 10927 - Pages: 44
...insurance influences patients and providers as important foundational information for your role as a future health care worker. Fill in the following matrix. Each box must contain responses between 50 and 100 words using complete sentences. Include APA citations for the content you provide. | |Origin: When was the model|What kind of payment|Who pays for care? |What is the access structure, |How does the model affect |How does the model affect | | |first used? |system is used, such| |such as gatekeeper, |patients? Include pros and cons. |providers? Include pros and | | | |as prospective, | |open-access, and so forth? | |cons. | | | |retrospective, or | | | | | | | |concurrent? | | | | | |Indemnity |In 1910, Montgomery Ward |Indemnity plan |The insurance plan is |Indemnity has an access |Indemnity cover relieves the |The premium that the insured | |...
Words: 2353 - Pages: 10
...Labor Unions Objective Labor unions in the United States have been prevailing forces in the workplace since their establishment in the late 1800’s. The two main purposes for unions are union security and overall improvement in wages, working conditions and benefits for their members. While only 12% of the U.S. workforce today is under union contract; they still are establish a presence by way of strikes, mediation and impasses. Unions will form when employees believe that company management is practicing unfair labor standards and acts and will take action accordingly to meet their goals. This report will look into the history and implications labor unions have had on the U.S. workforce and what they mean for both companies and employees alike in today’s world. General History Famous Labor Strikes The Great Postal Strike of 1970 involved 200,000 postal workers who walked off the job to protest their pay rates, which when accounted barely surpassed the average cost of living in the United States during that time period (in accordance with inflationary rates). President Nixon sent 23,000 U.S. army and marine personnel to handle the mail system, but that failed due to the limited training they possessed working with the massive government operation. Within a week, the government reached an agreement with the worker’s union, allowing for a 14% pay raise for postal workers. As a result, the American Postal Workers Union became a powerful force in bargaining...
Words: 2274 - Pages: 10
...HS 543 Health Services Finance May 11 Sec A Course Project The Baby Boomers Impact on Medicare Abstract This project will address the baby boomers impact on Medicare. Baby boomers have changed the world in which we live and the lens through which we view it. The aging of the baby boomers, which is roughly one third of the population, will continue to usher in dramatic changes across most business sectors and areas of our lives in the years to come. The Issue A. How is Medicare Funded? Medicare provides health coverage for 45.2 million people. In 2008, Medicare spent $468 billion for covered items and services. Medicare is paid through two trust fund accounts held by the US Treasury. These funds can only be used for Medicare. The first trust fund is the Hospital Insurance (HI) Trust Fund. It is funded by payroll taxes paid by most employees, employers, and people who are self-employed. Other sources, such as income taxes paid on Social Security benefits, interest earned on the trust fund investments, and Part A premiums from people who are not eligible for premium free Part A. The second trust fund is the Supplementary Medical Insurance (SIM) Trust Fund. It is funded by funds authorized by Congress, premiums from people enrolled in Part B and Part D, and other sources, such as interest earned on the trust fund investments. B. Medicare Plans People with Medicare may be able to get health care coverage in several ways. Original...
Words: 2467 - Pages: 10
...pursuant to the securities laws, and for other purposes.” (Braddock, 2006). Substantial modifications to corporate governance and business practice regulations were introduced by the Sarbanes-Oxley Act. Within the Act there are many sections, the most important of which is section 404. Section 404 deals mainly with internal control actions and requires companies to provide details on their internal control structures and policies (“Study of the Sarbanes-Oxley Act of 2002 Section 404 Internal Control over Financial Reporting Requirements”). As with any new regulation there are pros and cons to Section 404; however, it is the most significant because it has increased the reliability and accountability of financial statements, it helped create confidence in the market for investors, and it led companies to greatly improve their internal controls. Section 404 The Public Company Accounting Reform and Investor Protection Act, or the Sarbanes-Oxley Act formed new principles for corporate accountability and new punishments for misconduct (“Study of the Sarbanes-Oxley Act of 2002 Section 404 Internal Control over Financial...
Words: 1574 - Pages: 7
...Problem Definition and Theme In 1950 U.S. steelmakers dominated the world market. By 2000 global productivity increased and foreign steelmakers had entered the United States market causing what was perceived as a threat to domestic businesses. At this time, American steelmakers pressured the United States government to provide protection from imports leading President George W. Bush to put in place steel import tariffs under Section 201 of the 1974 Free Trade Act by March of 2002 (Robertson 2002). These protectionist measures imposed an average 30 percent tariff on selected foreign steel entering the United States. During negotiations, The International Trade Commission (ITC) recommended imposing a 40 percent commission while some extremists proposed 80 percent (Ho 2003). Although steelmakers were content with the implementation of the tariff as it provided some relief from imports, critics argued against the effects it would have on steel consuming businesses (Carbaugh 2011). The American Institute for International Steel (AIIS) felt that this tariff did not support free trade. The AIIS also believed that the steel tariff did not force companies to work in a price-competitive environment. David Phelps, president of the AIIS, believed in survival of the fittest. Phelps said that without protections such as these, strong companies would survive and weaker players would be eliminated (Robertson, 2002). With the key arguments from the U.S. auto makers, tariffs from some steel were...
Words: 1981 - Pages: 8
