The promise that something will be paid in case of loss. Used to cover important items and reduce personal risk. This tag covers how to get it, how to keep it, what kind, and why you should have it.

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5
votes
0answers
30 views

How does a tuition insurance payment affect 529 withdrawals?

Qualified college tuition and expenses were paid from a 529 plan in 2014. The school sent a 1098-T and the 529 plan sent a 1099-Q and everything was fine on my 2014 taxes. In 2015 my child has left ...
6
votes
2answers
399 views

Can my mortgage company force me to buy condo hazard insurance?

I live in the United States and have a mortgage for my condominium. After 10 years under my current policy, I suddenly received a letter from the lender, saying "A review of our records indicates we ...
0
votes
0answers
24 views

Depositing an insurance check made out to a foreign ltd into a personal US account

I own a boat which is registered in the BVI's in an Ltd. name. There is no business and thus no bank account for it. I am a U.S. citizen with a regular U.S. bank account. I incurred boat damage and am ...
0
votes
1answer
35 views

Is it normal to pay 100% of the premium on a long-term disability policy from my employer?

An employer offers long-term disability coverage of 60% for both accident and illness. There is a `180 day elimination period. The employer defines disability "as any occupationn" They also require ...
1
vote
0answers
77 views

How to recover value from a term life insurance policy?

This happened in Canada. A person has a life insurance policy that matures in 2024 (in 9 years) and he has been paying monthly premium since 1996 (for 19 years). He lost his job and is not able to ...
7
votes
1answer
162 views

Claiming against visa rental car insurance

I'm planning on claiming against my visa cards rental car insurance benefit. For an incident using a zip-car. Will this claim affect my credit score or car insurance rates?
2
votes
2answers
38 views

Can I enroll in FSA after losing coverage due to my father losing his job?

I am being allowed by my employer to enroll in a Health Insurance plan outside of the open enrollment period or new hire period due to an Involuntary Loss of Coverage (my father lost his job and I was ...
0
votes
2answers
47 views

Mortage Insurance or higher life insurance

Does it make sense to try and get mortage insurance (and potentially other long term debt insurances) or just increase life insurance to cover the mortage if you die? The goal being to not encumber ...
1
vote
1answer
59 views

Health Savings Account Insurance Reimbursement

I have an HSA for my HDHP to which I contribute the maximum IRS allowed pre-tax amount every year to save up for future medical expenses. Last year (2014), I had my wisdom teeth removed, and the cost ...
0
votes
1answer
34 views

Weird charge in insurance plan [Netherlands]

I've been living in the Netherlands as a student, since August, and the health insurance I had up to about a month ago was the European Health Insurance Card. However, at the end of December, I had to ...
1
vote
1answer
57 views

What is bespoke insurance?

A business summary describes an insurance company: "... it provides insurance products that cover war and political risks that include kidnap and ransom, political risks, political violence and ...
1
vote
2answers
75 views

Given advice “buy term insurance and invest the rest”, how should one “invest the rest”?

It is often recommended that people buy term insurance for a lower premium cost, and invest the rest of the money. It is said that the returns from your own investment are higher than the ones from ...
9
votes
1answer
2k views

Why do billionaires buy life insurance? [closed]

I hear and read a lot of people say that consumers should "Buy term and invest the difference." I also read that life insurance is a bad investment. Yet, when I did an Internet search, not only did I ...
0
votes
3answers
181 views

Explain me the benefit of insurance policy

I have taken a life insurance policy from ICICI called "ICICI Pru Saving Suraksha LP". The details of my policy is given below. Term: 15 years Premium Amount: Rs 50,000.00 Sum Assured: Rs 500,000.00 ...
4
votes
1answer
243 views

What type of insurance would protect you against the Amazon 1p bug?

After seeing many hobby and small businesses losing thousands of pounds due to a software bug pricing their products at 1p on Amazon I've been wondering. Is there a type of insurance that a hobby ...
0
votes
2answers
213 views

How long does a business have to give a refund?

My dentist's office requires payment upfront, and then they wait to get paid by the insurance. On Yelp, people say that it takes a lot of sweat and tears to get a refund from them. (In my case the ...
2
votes
1answer
129 views

Insurance Copay requirement when paying 100% deductible

I have health insurance with a $500 deductible. If I go to the doctor and the bill is for example $400, I am required to pay the $400 and a $10 copay by the insurance company. Can insurance companies ...
1
vote
2answers
93 views

Life Insurance Policy for my Dad

My dad want me to get a life insurance policy on him. I have no clue where to start or even what type of questions to ask. What are the positives and negatives of buying a policy. Is it a sound ...
0
votes
1answer
29 views

How does agreed value insurance work with inflation?

In an agreed value insurance plan I understand that the number X is the amount that will be paid out upon loss. However I have two questions in regard to this: Upon renewing my policy yearly am I ...
15
votes
3answers
844 views

Does the following kind of retirement product exist?

Say I am 65 and want to retire and I have saved up $1 million over my lifetime. I also want to use this money up before I die because I have no heirs. Let's say the average life span of humans is 85 ...
3
votes
2answers
140 views

Does it make sense to look for medical plans outside “Obamacare”?

Does it make sense to look for medical plans outside of the ACA Exchanges (such as the https://calheers.ca.gov/ in California), or are those as good as it gets? If it's illegal for the insurer to ...
2
votes
2answers
117 views

Calendar year changes and Out-of-Pocket reset

I have been with a School District for three years. This last year I had major surgery. I met my deductible and by August I reached my OOP max. In September the district got a new plan. They made ...
0
votes
1answer
40 views

COBRA and “in progress” expenses

I'm leaving my job in a few days, and I have significant "in progress" dental expenses. I haven't received any official COBRA information yet. I'm worried that any appointments after my last day at ...
2
votes
2answers
117 views

renter's insurance for causing property damage

It seems that renter's insurance only covers the tenant's property and perhaps guests. I suspect that a far bigger financial risk for a tenant is in liability due to causing a fire, flood or other ...
1
vote
2answers
51 views

Insurance against final value

If I have property/land for sale at a higher value than that which it was purchased can I insure against the selling price? Say my family home that has sentimental value above the retail value and I ...
-3
votes
1answer
86 views

I own but do not live in a flat. Am I responsible for damage caused to neighboring flat? [closed]

I am on the title and mortgage of a flat with my wife (soon-to-be ex-wife). I moved out of the property a couple years ago and still pay my part of the mortgage. Since then my (soon-to-be ex)wife has ...
3
votes
1answer
54 views

Where to get liability insurance for car rentals, as an add-on to Visa Collision Damage Waiver?

For car rentals paid for entirely by Visa credit cards, Visa usually provides a benefit called the Collision Damage Waiver, which in my experience is pretty good. It does not however cover personal ...
9
votes
1answer
195 views

Should I pay the insurance discounted rate or the full rate for an ambulance ride under my deductible?

I had to call recently an ambulance because of a food allergy. By the time I reached hospital, I was okay. Last month, I recieved a bill of 3500 USD. I am just wondering, is it a fair charge? Since my ...
4
votes
1answer
793 views

Car Accident - Can I get Cash/Check instead?

My vehicle (pick-up truck) was legally parked on a street and a car struck my truck and caused some damage to the body and bumper. When I called, the other driver's insurance company told me to take ...
2
votes
1answer
77 views

Paying for Long Term Care Insurance for relative

My mother-in-law (in her 60s) has no assets, and a pension (state and Social Security combined) of less than $700 month when she retires. Currently, I'm paying for LTCI ($150/day, 90-day elimination, ...
3
votes
1answer
139 views

Should my live-in significant other and I both have renter's insurance?

My significant other and I both have our names on the lease for our shared apartment. We are not married. She has a renter's insurance policy that she claims is enough to cover both her belongings and ...
0
votes
2answers
77 views

How to insure belongings on road trip?

I'm shipping my car with a reputable carrier across the country. I am going to put some of my belongings in the trunk. I have insurance on the car, but if I wanted to insure the items in the trunk ...
37
votes
12answers
7k views

Is insurance worth it if you can afford to replace the item? If not, when is it?

I am talking here exclusively about insurance for items (not for health or other type of insurance where lives and liability are at risk). Let's say I have a 1-year old Macbook (costs $2000+tax new) ...
1
vote
2answers
89 views

Car insurance versus personal liability insurance

I'm in the market for car insurance for the first time, and I'm trying to understand the best way to approach it. I've talked to some insurance salesmen, and they consistently try to convince me that ...
0
votes
1answer
76 views

Does insurance cover injury playing rec sports

If I get hurt playing recreational soccer after work, will my employer insurance cover my medical/hospital expenses?
3
votes
2answers
71 views

Equifax credit report insurance quotations

I have just ordered a credit report from equifax. The credit report shows up all healthy except for a large number of (genuine) 'insurance quotations'. These are car insurance quotations that I have ...
9
votes
2answers
203 views

When is an event worth insuring against?

Inspired by another question, what factors should generally be considered when deciding wheter or not to insure yourself against events with a financial impact? The linked answer makes mention of any ...
9
votes
5answers
1k views

Can one insure a home's AC unit?

My mother-in-law would like to insure her single family home AC unit while my wife and I are informally renting a room with her. Is this possible? Although the unit is 10 years old and runs fine, she ...
2
votes
2answers
102 views

Having two different employer healthcare plans

I currently have two healthcare plans, one is United Health Care and one is Anthem Blue Cross. I'm able to get my health insurance in full from my old job which is why still have it(ABC). Anthem Blue ...
1
vote
1answer
217 views

What's the catch with accidental death/disability mortgage insurance?

I just bought a house. Now I'm getting ads in the mail every day or two trying to sell me accidental death insurance for my mortgage. (AKA critical illness mortgage insurance, mortgage protection ...
2
votes
1answer
47 views

Homeowner's policy - will insurance pay coverage amount in case of a loss?

I am reviewing my homeowner's policy that is due for renewal and I think I may have too much coverage. My question: will the insurance company pay the coverage amount if the building is a total loss ...
6
votes
1answer
169 views

Can I deduct my individual Health Insurance Premium in Tax

I have a my own LLC and working as self employee for this company. I am working on 1099 for this company. Since there is only 2 employee (including my spouse), I can't take health insurance from my ...
5
votes
1answer
117 views

What is the simplest way to describe indexed universal life?

Indexed universal life seems to be pretty popular these days, but it also comes off as very complex with a lot of small print. Without getting too complex, whats the simplest way to describe what it ...
1
vote
1answer
75 views

How to start disability insurance when already disabled?

I'm not entirely certain this is the right place for this question, but I can't think of anywhere better either, so here it goes. I am currently suffering from moderate-severe depression and anxiety, ...
2
votes
1answer
285 views

Is the Chrysler extended warranty coverage worth it?

Is it suggestible to take Chrysler bumper to bumper lifetime insurance? I bought a Jeep Cherokee 2014 and initial warranty info looks like this. Warranty Basic - Miles:36,000 Basic - Months:36 ...
4
votes
1answer
126 views

Is there a rule of thumb to help “Sanity check” insurance costs?

My house insurance is up for renewal. I'm busy and I don't want to spend a lot of time getting quotes, especially since this policy is tied to another one that is hard to get and that we could only ...
0
votes
2answers
311 views

How does an insurance policies Six Month Premium work?

So, I'm wondering... How does an insurance policies Six Month Premium work? Say full coverage would cost me $200/month and liability would cost me $100/month, but I decided to get full coverage and ...
3
votes
1answer
224 views

What happens if the term insurance company closes?

I have bought a term insurance plan for 35 years. I pay yearly premiums, and will do so for a long time if everything goes well. My question is, what will happen if say after 20 years the company ...
1
vote
2answers
205 views

Tax on insurance payment due to car deemed as total loss?

What is the the IRS's view on insurance payment for a car that was deemed a total loss? Is the state tax for each state in this scenario the same? Or, do different states have different approaches? ...
5
votes
2answers
598 views

Why does my insurance premium go up when I remove my wife?

I was messing around with my insurance policy to see if I could get my premium to go down a little bit, so I was just curious; How much is my wife making my premium go up? As it stood, my premium ...