Individual Service Plan Example: Fill & Download for Free

Poisson distribution features the relative frequency for the number of certain 'rare events' that occur within one unit of time or space (1D, 2D, or higher dimensional). These events occur at random, are identical, and come along at a constant average rate from a large number of independent sources.Many real life examples that involve counts of certain events and have these properties may be characterized with a Poission distribution. Some canonical ones include:Transportationnumber of vehicles arriving at a traffic light within a 5 minute period. If you roughly know the average number, then you could easily estimate the probability that no vehicle, 10+ vehicles, or the p95 quantiles of vehicle counts arriving at the traffic light within a 5 minute window. This is applied in the design of traffic signal timing (see the official signal timing manual http://www.signaltiming.com/The_Signal_Timing_Manual_08082008.pdf)number of car crash accidents within a fixed time window. Insurance companies often conduct risk analysis on this and use it to inform the pricing of car insurance.Website TrafficPage requests per second to a website. Modeling it with a Poisson distribution could be very helpful for detecting spam attacks (anomaly detection) or estimating peak load given average load.There are countless other applications of Poisson distribution in medical service planning, investors' transactions in financial markets... Getting back to the definition of Poisson distribution - "come along at a constant average rate from a large number of independent sources", it's not hard to tell the pattern of Poisson random variables: they are simply random events that happen to individual people, households, particles, or any other units of small components that form into an enormous society.

Given that you've asked over 250 questions on quora but they all seem to be derivatives of the same 5 questions asked over and over again, I'm under the impression your account is either a bot, or you're not really interested in the answers provided by all the quora members who have taken their time to help you with your question. In the latter case, this makes sense if this question is coming from a position of personal curiosity for your current situation. In that case you should contact a trusted financial planner and an accountant, as you're in an income bracket where proper planning can certainly lower your tax burden significantly. If you haven't, you should probably contact professionals from one of the larger, more reputable advising firms as they'll likely have someone who would gladly take on you as a client (at 600-700k/yr your income will not get you the perks of any of the major IBs ultra high net worth individual services, but there are plenty of advisors who would take you on at other firms). Although I would recommend double checking their fee structures prior to signing anything as your previous post suggesting you own 4 luxury automobiles and are without any concept of a budget might be enough to incentivise a dishonest broker to take advantage of your limited but growing financial literacy.Sorry for the novel. Long story short, 600k should be more than enough for a family of 4 to live most lifestyles in Chicago. But I've seen more than a few people who were making a lot more, for a lot of years ( ex. some of the commodity traders I meet during my time on the cbot floor for example), who through poor investing, too much leverage, and inappropriate spending now find themselves pretty much broke despite having 8 figure net worths just a few years earlier. Do yourself a favor and consult some wealth management professionals rather than continuing to spam quora with 10 more similar iterations of this question. Best of luck.

The closest thing to which you are referring is what the industry terms "worksite plans." You may be familiar with the most prevalent one - AFLAC. Other players in this arena are Humana and Colonial Life. These carriers offer plans that give you an indemnity benefit for things such as hospital visits, preventative care visits, and diagnosis of a critical illness.For example, such a plan could give you $300 per day that you are in the hospital, $150 if you get your annual physical, or $10,000 if you are diagnosed with cancer. These are generally cash benefits that are paid irrespective of any health insurance coverage you may have.The drawback is that these are generally not available on an individual basis, and must be purchased through your employer (if offered).