Answers - Insurance

Do you know if you need life insurance? To be sure your loved ones are taken care of, there are a few questions you need

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

to answer to determine your level of need.

What expenses will you leave behind?
If something hap

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

pened to you today, how much debt would you leave behind? How much do you owe today for utilities, credit cards, medical

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

bills, car loan, mortgage? At the very least, you should have a policy that will cover these basic needs.

Does

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

anyone depend on you?
Aside from any pets you have living with you, do you have anyone who depends on you

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

for their day-to-day living needs? Spouse? Children? Anyone else? If so, protect their financial future by giving them a

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

block of money that will replace your annual income.

What future needs will your dependents have?

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
>In addition to replacing your lost income, you have the chance to provide for your dependents future financial needs. Y
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
ou can plan for and provide a college fund or provide for possible future wedding expenses.

Have you saved enou
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
h money to take care of the above-mentioned needs? If you answered “yes” to any of the above questions, there i
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
s one more to answer. Here is a good model you can use to determine your life insurance need.

Current debt + Anticipate
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a
d future needs + Income principal

Current debt would be one month’s worth of your average monthly util
dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod
ties, total credit card debts, medical bills, loans, mortgage, or anything else you want to be paid off in the event of
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
your death.

Anticipated future needs include expenses for college, wedding expenses, etc.

Inc
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
ome principal should be arrived at by taking your current annual income and divide that number by .01 (1%). The
t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
theory here is that a large enough block of money should be provided so that 1% can be withdrawn as a replacement of you
ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust
r income. Most investments return a higher interest rate than 1% so if that income block returns, say 5%, and your depen
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
dents are able to live off 1%, that equals a 4% raise which will help defray the effects of inflation.

The best rates f
.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
r life insurance are when you are young and healthy. You might be able to improve your health, but so far there is no wa
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip
y to turn back the clock and make ourselves younger. Get your quote for life insurance and protect your loved ones today

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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Answers - Life Insurance: 4 Important Considerations

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