The History of Insurance
The practice of minimizing risks and safeguarding the people’s interest takes it back to the third and second millennia B.C. with Chinese and Babylonian traders.
In history, Chinese merchants redistribute their wares to many vessels, limiting the loss when any single vessel capsizes.
On the other hand, Babylonians have developed their own system of loans and guarantees which were included in the Code of Hammurabi.
Although, the Enlightenment Era of Europe gave birth to more sophisticated insurance systems and specialized varieties of such.
In the early 18th century, the Amicable Society for a Perpetual Assurance Office began offering the first life insurance in the world.
By the late 19th century, initiation of national insurance programs against sickness began.
Then, by 1911, Britain introduced a more extensive legislation called the 1911 National Insurance Act. The act created a system of health insurance for Britain’s working class based on contributions. Ultimately, this built one of the foundations of a modern welfare state.
The Importance of Insurance
Insurance provides safety and security to people by reducing the uncertainties in business and life.
Also, insurances like life insurance encourage savings through its payment of regular premium, providing a mode of investment.
With its advantages partnered with people’s imminent fear of loss, the insurance industry has evolved and grown through the years from a small-scale industry to a bigger business.
In 2015, the US insurance industry alone recorded a total of $2.1 trillion in net premiums and 5, 926 companies.
According to the US Bureau of Economic Analysis, insurance carriers contributed 2.6 percent or $450.3 billion of the country’s gross domestic product (GDP) in 2014.
Along with its growth, the insurance industry has also diversified.
Almost any risk has been insured – from vehicles, health, income, casualty, life, burial, property, liability, credit, among others. One of the most important and subscribed insurance is on health.
According to Statista, 289.9 million people had health insurance in 2015 while 28.6 million had no health insurance.
Health insurance policies cover part or all of the risks of a person in regard to having to pay for their own medical treatments. As a result, one may get more out of their health insurance than what they pay.
As a form of health insurance, dental insurance is specifically meant to protect policyholders from expenditures from dental procedures. Often, a patient with dental insurance can receive checkups, professional cleanings, and preventive care treatments at a lower cost.
Various benefits and plans are available for different coverage levels. Insurances like the Dental Health Maintenance Organization (DHMO) and the Participating Provider Network (PPO) are dependent on a network of dentists. Participating dentists conform to execute dental services for patients at pre-regulated rates and claims.
Hoala Dental Plan
Hoala Dental Plan is a dental discount plan which offers all dental procedures at affordable and discounted cost. Patients can get up to 60 percent savings on dental services like exams, cleanings, crowns, root canals, and more.
It also has state-of-the-art facilities for all procedures in all specialties including endodontics, pediatric dentistry, and cosmetic dentistry.
Hoala Dental Plan offers no waiting period, no age limits, no annual limits, and no restrictions.