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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2
votes
0answers
74 views

How do I judge if I am being made a fair offer by a car insurance company?

My girlfriend got into an accident with her (registered under my name) 2003 Honda civic. She was pulling out of the drive way(taking a right, basically parallel to the road) and got hit on the quarter ...
1
vote
1answer
93 views

Liability insurance for hobby

Maybe I'm paranoid or something but it is hard not to be one when all you see in the news how some people sue others based on ridicules charges and then settle for millions. My situation: I work full ...
2
votes
1answer
137 views

Why do credit cards come with insurance, and what is the benefit for the user?

I have savings and don't need to borrow money, but still need a credit card for those payments that can't be made otherwise: primarily car rental and some online purchases. I've noticed that many ...
3
votes
1answer
44 views

Why the borrower needs to pay premium for mortgage life insurance

There is a product called mortgage life insurance. Apparently if I have the insurance and I die , the insurance will pay the bank the remaining mortgage. It is for the bank's protection, not mine. ...
2
votes
0answers
78 views

Does the life/disability insurance policy on my car apply now that it's paid off?

My husband and I had purchased life/disability insurance on our new car in 2007. In 2008, my husband became ill and passed away at the end of that year. Recently, I found the policy and took it to the ...
-3
votes
1answer
43 views

What is the use of mortgage insurance premium paid to CMHC

When I bought my condo, because I could only put down 10%, so I had to pay CMHC (Canada Mortgage Housing Corporation) insurance premium (about 12 000 dollars I believe but I could be completely wrong ...
3
votes
3answers
979 views

How can I improve my auto insurance score?

My auto insurance score on Credit Karma is 805. It also says insurability is poor. I was wondering if there is a way to improve that score? I have never had an accident and I am never late on my ...
11
votes
8answers
3k views

The doctor didn't charge the health insurance in time, am I liable?

I got a bill for an emergency room visit for one of my kids. It was the weekend and that was where the insurance told us to go. Luckily no stitches needed. Fast forward 7 months and I get a bill ...
4
votes
2answers
67 views

Life cover until death means?

My LIC insurance policy says : "Maturity Return : Sum Assured with Bonus on Policy maturity. Life cover continues till death" what does it mean to cover life after maturity & returns?
3
votes
2answers
94 views

Do laddered term life-insurance strategies give significant savings over getting re-rated with shorter term policies?

I have been reevaluating my life-insurance strategy and having remembered an article about using laddered term life insurance to give you a higher amount of coverage in the short term with reducing ...
14
votes
7answers
2k views

Why do people take out life insurance on their children? Should I take out a policy on my child?

I've always found those flyers that the schools send home in September contemptible. But maybe I'm the one in the dark...? If the purpose of life insurance is to replace a wage-earner's income in ...
11
votes
1answer
867 views

What kind of company is USAA?

I'm a member with USAA. My membership eligibility is based on family membership. I'm a little bit confused about what kind of company USAA is. I have the general idea that it is a company that ...
3
votes
1answer
53 views

car loan life insurance

My brother-in-law bought life insurance on the last new car he financed. He died 9 months later. When my sister notified the insurance company, they requested the last five years of his medical ...
0
votes
2answers
88 views

Are wage loss insurance programs worth the cost compared to having an emergency fund?

Anybody heard of these wage loss insurance programs? The idea is in my provence short term disability only pays out up to 8 weeks and long term disability does not kick in until 6 months. The idea is ...
0
votes
0answers
43 views

Insurance for Working Capital in Arbitrage Business

I want to make money by arbitraging between financial markets, e.g. buy 1000 units of Foo at $1 on exchange A and sell Foo at $1.50 on exchange B for a profit of $500. Does anyone know of an insurer ...
2
votes
1answer
29 views

What is the typical time taken for SIPC to return money and stocks to brokerage clients when the broker goes under?

SIPC's job is safeguard the money and securities of brokerage clients when broker goes bankrupt. One of the tasks is to speed up the return of these possessions to the clients. Going by past ...
5
votes
3answers
151 views

Can the Securities Investor Protection Corporation (SIPC) itself go bankrupt?

The Securities Investor Protection Corporation (SIPC) insures investor accounts up to $500K: Terms of SIPC help. Customers of a failed brokerage firm get back all securities (such as stocks and ...
6
votes
4answers
579 views

Buying life insurance at the age of 25

Given that, the person is unmarried and without any dependent, is it advisable to buy life insurance (which is not a term insurance) at the age of 25? Considering it as an investment tool plus a ...
14
votes
5answers
835 views

How much should I fund an HSA? Is there a danger in over-funding one?

I'm reviewing my options for health insurance during open enrollment and one of them is a HDHP/HSA option. I hear these are best for young people without chronic conditions etc. I think I fall into ...
4
votes
2answers
378 views

How do insurers decide “their” proportion of a claim when dual-insured?

Most (UK) insurance policies have a "dual insurance" clause along the following lines: If any injury, loss, damage or liability is covered by any other insurance then we will not pay more than ...
1
vote
2answers
127 views

Do my parents need to purchase long-term care insurance?

I've been hearing about long-term care from my parents since my sister moved out two years ago. They'll have to let me finish college before buying it, however. What is the purpose of long-term care ...
3
votes
3answers
267 views

is it good to buy insurance policy as investment for beginner?

I have no investment experiences before. So want to get some suggestions. Lately one insurance adviser was suggesting to buy one insurance policy as investment (they called it as saving plan ) . Here ...
6
votes
2answers
4k views

What is the difference between pre-tax and post-tax paycheck deductions?

I am getting insurance for about 4 months, the length of my contract with a company. I am given the option of having the cost deducted from my paycheck pre-tax or post-tax. What is the difference? ...
6
votes
3answers
428 views

Why would a person not want to purchase a Personal Liability (Umbrella) insurance policy?

I was recently introduced to the concept of the PLP (specifically in the context of providing a globally-following umbrella policy to my renters' and auto insurance). After examining the policy and ...
9
votes
2answers
475 views

Employer wants a key man insurance policy on me, should I agree?

Friend is working for a small company as main person in charge of operations. The president is asking them to take out a key man life insurance policy on them. The benefit would pay out to the ...
2
votes
1answer
111 views

Should insurance pay me tax (hst) on top of the quote for home repairs?

I'm in the middle of an insurance claim for a flood at my house. Insurance gave us a quote for the repairs but we do not want to use their contractors because we have heard negative stories about ...
2
votes
2answers
121 views

What is covered by CDIC savings deposit insurance?

In the unlikely event that a financial institution fails in Canada, what is covered by the Canadian Deposit Insurance Corporation? What is the limit of coverage?
1
vote
0answers
18 views

How do CDIC savings insurance work? [duplicate]

Savings accounts are insured by CDIC up to $100k. Is it a total of $100k across all savings accounts I have with different banks or 100k per account?
5
votes
4answers
234 views

Is Prepaid Legal a legitimate company?

I've just seen a recruitment video for Prepaid Legal. The company sells, essentially, legal insurance - a prepaid service that covers potential legal fees. Their marketing strategy, though, reads ...
6
votes
1answer
183 views

How do I evaluate a health insurance policy that covers a specific disease?

I know that medical emergencies could be fatal for emergency funds and other personal finance aspects. How can you evaluate a cancer insurance policy? What are the aspects that makes one policy ...
3
votes
3answers
73 views

What is the best way to determine the value (balance of reliability and cost) of an insurance company?

How can an individual determine how reliable or likely an insurance company is to pay on their claims? I'm trying to balance two things here - cost of premiums and reliability of paying claims. I have ...
4
votes
2answers
174 views

Is it ok to request a chargeback for an insurance premium?

I changed my auto insurance coverage from company A to company B, effective July 1. I later found that company A had processed an automatic premium payment for the period July 5 - Aug. 5. I called ...
2
votes
1answer
197 views

Better LIC health insurance plan? [India]

I have just started working. I have a plan of taking a insurance for myself where I could pay a maximum of Rs.2000 as premium. Can any one suggest how I should go about finding a better policy for ...
2
votes
2answers
158 views

Taxes on money received from a death benefit

When my father had passed away, all of us kids signed off on the rights to any of his money/assets to our mother. Upon receiving the money, she had paid taxes on them. She then dispersed an amount off ...
9
votes
1answer
267 views

What is the difference between an A+, A or A- Insurance Company?

I've noticed insurance brokers providing me quotes and tables of quotes that compare insurance plans, and all of the institutions have a letter grade value assigned to them. Nobody that I have asked ...
6
votes
1answer
142 views

Insurance for a house which is not homeowners insurance?

My wife and I moved last summer, and our former home is still on the market. We were recently informed by our homeowners insurance company that because the house is no longer owner occupied, they will ...
9
votes
2answers
288 views

Comparing Life Insurance Proposals

I want to compare different types of Life Insurance in which a series of annual premiums are paid for a specific term. At the end of policy term, which may be longer than premium paying term, a ...
6
votes
1answer
261 views

Is having a Critical Illness Insurance worth it?

I am aware that the typical argument for having a CI insurance is because we just really don't know what will happen in the future and it's better to be protected. But is it really worth it paying for ...
1
vote
1answer
71 views

What is the reasonable amount yearly for a Hospitalization + Disability Income + Critical Illness Insurance?

I live in Singapore. I'm in my mid-20s and I currently have medical insurance that covers hospitalization bills. This amounts to roughly USD 250 per year. However, I lack Critical Illness insurance ...
9
votes
1answer
269 views

Can mortgage insurance replace PMI?

So I recently bought my first house, and admittedly have no idea what I'm doing when it comes to home financing. I did not put down 20% so I have to have PMI until I pay off the principle up to 20%. ...
12
votes
6answers
1k views

How to best insure my phone?

I just bought a smartphone. Family plan with wife and parents. The salesmen were trying to push an insurance plan, but with just a quick look down the exclusions it's pretty restrictive. At $8 per ...
4
votes
1answer
93 views

How can one guarantee income in the event of incapacitation and also in the case of death in UK?

I wanted a policy that protects my family in case I get injured or get ill (incapacitated) and also in case I die. They suggested a combination of Income Protection Insurance and Life Insurance. ...
1
vote
1answer
62 views

Can a non-resident claim an out of pocket health cost tax deduction?

I am a graduate student and my health insurance is paid by the university. I had an emergency visit and few subsequent doctor's visit in last financial year which were not covered by the insurance and ...
1
vote
1answer
178 views

How does mobile home insurance work?

Let's say I have a 2000 model mobile home work around 20k and it is insured for 65k with replacement cost coverage, if it is damaged and has 20k to 25k in damages would the insurance pay to fix it or ...
6
votes
1answer
102 views

Personal liability insurance with no car or house

Is it possible to get a personal liability insurance if I don't drive (I don't have a driving license and I don't own a car) and if I don't own a house (I am renting)? The use case I'm thinking about ...
4
votes
4answers
237 views

Personal property insurance + travelling insurance + accident insurance + health insurance

The definitions of the specific terms of the insurances differ among different companies. Also, some insurances like Travel Insurance is substitute of Property Insurance during certain specific of ...
2
votes
3answers
6k views

What is the difference between Health, Medical and Life Insurance (India) and Which one I should take my self and which one for my wife?

What is the difference between Health, Medical and Life Insurance (India) and Which one I should take my self and which one for my wife? I want to take insurance for safety + tax saving purpose. What ...
4
votes
1answer
494 views

Home rebuilding cost vs “Cost Approach (If Developed)” on appraisal?

I am in the process of buying a home. The lowest cost to rebuild quote I've been able to get is $309,000. I just got my appraisal back today. And it has something call "Cost Approach (If Developed)". ...
2
votes
1answer
71 views

How do I obtain the foreign equivalent of homeowner's insurance when buying a vacation home in another country?

I am considering purchasing a property in another country as a vacation home. I'll continue to live in the US (nation of citizenship), but may consider using the foreign home as a retirement locale, ...
12
votes
6answers
2k views

Do I need ID theft Insurance?

Identity theft insurance? Dave Ramsey says yes. Consumer reports (CR) says no. The complication is that Dave recommends an identity theft insurance from Zander Insurance, where as CR says to say no ...