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Advanced Benefit Consulting

Insurance, USA, Illinois, Chicago

Providing tailored benefit solutions and compliance assistance to optimize employee satisfaction and cost efficiency in the insurance industry.

About Advanced Benefit Consulting

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Basics

Type
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Founded
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Total Employees
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Employees on Linkedin
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Employees on OWCareers
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Main Office
United States of America, Illinois state
Official Website
http://www.advancedbenefitconsulting.com
Location Address Official Phone Email
United States of America, Illinois state USA, Illinois, Chicago **** ****
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FAQs – Advanced Benefit Consulting

What is the relationship between a ceding company and a reinsurer?

The ceding company and reinsurer enter into a contractual agreement where the ceding company transfers specific risks in exchange for a reinsurance premium. The reinsurer assumes responsibility for the covered losses according to the terms of the agreement.


What is the best health insurance company globally?

Some of the best health insurance companies include UnitedHealth Group, Anthem, Cigna, Humana, and Bupa, based on coverage options, customer satisfaction, and affordability.


How often do I need to pay my insurance premium?

Insurance premiums can be paid monthly, quarterly, semi-annually, or annually, depending on the insurer and the policy. Some people prefer to pay annually to avoid frequent payments, while others opt for monthly installments.


Does homeowners insurance cover injuries to guests?

Yes, liability coverage pays for medical expenses and potential legal claims if a guest is injured on your property due to negligence, such as slips, falls, or dog bites.


What is catastrophe reinsurance?

Catastrophe reinsurance is designed to protect insurers from extreme losses caused by large-scale disasters like hurricanes, earthquakes, or floods.


How do I purchase E&S insurance?

E&S insurance is typically purchased through licensed surplus lines brokers who specialize in placing high-risk policies. These brokers work with non-admitted carriers to secure coverage tailored to the client's unique needs, ensuring they find the best available options.


What are the benefits of UBI for drivers?

UBI offers potential savings for safe or low-mileage drivers, personalized premiums, improved driving awareness, and sometimes additional benefits like roadside assistance or vehicle diagnostics.


How can I reduce my copayments and coinsurance costs?

Choose an insurance plan with lower cost-sharing, visit in-network providers, use generic drugs, and seek pre-approvals for expensive procedures.


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