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Questions tagged [insurance]

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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34 views

What regulations I face with doing business related to derivatives trading? [closed]

Lets say I'm going to start a business of hedging client companies (worldwide) and selling/buying correspondent derivatives on exchange (like CME, CBOE, etc). The workflow is the following: I ...
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0answers
76 views

Health insurance payment does not match up explanation of benefits. What's going on?

My wife and I utilized the services of a chiropractor who happened to be out of network with my insurance provider (will name in an edit if it is important). My Explanation of Benefits says that out-...
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2answers
1k 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 ...
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1answer
130 views

car insurance — absolute cheapest possible way to make / get it [closed]

I'm aware that it's possible to make your own car insurance company. That being said, does anyone know of the absolute, cheapest possible car insurance there can be? I'm not concerned at all about ...
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3answers
163 views

How to use Social Security survivors benefits data in calculating the amount of needed life insurance?

I see a question How much life insurance do I need? , but I want to buy least amount of Life Insurance but still cover my kid and spouse. We all get annual social security statements and it mentions ...
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3answers
115 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 ...
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3answers
798 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 ...
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0answers
38 views

Health insurance coverage for recent immigrant

How does someone obtain health insurance coverage in Washington state as an immigrant.
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0answers
34 views

Insurance cost deductions from paycheck

I switched from full-time to per diem status on March 9th. For my paycheck through March 9th they deducted my usual cost for benefits, but then they did the same thing 2 weeks later when I wasn't ...
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2answers
3k views

Net salary in Germany for programmers

I got an offers as a freelancer to work from Germany (the company is not German but I will live in Germany when I'll work for them). Since I'll be a freelancer in need to give them an hourly rate for ...
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1answer
93 views

Insurance broker - Online vs. physical location?

I have had my home & auto insurance with USAA for a couple of years now, and have never filed a claim. I have heard people recommend finding a broker with physical presence, to deal with face-to-...
2
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1answer
161 views

Insurance Producers and Church Tithe

Getting ready to sit for my examinations and these questions popped into my head. Curious about the nuances of illegal inducement in these circumstances. I know there are issues with gifts greater ...
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3answers
337 views

Do I need to report a critical health condition years after I signed-up for three insurance companies?

I need help with some simple questions related to insurances that I purchased. I hope that any insurance agent here can answer them, at least briefly. I have not been able to contact the insurance ...
2
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1answer
55 views

How to prepare for losing employer-provided insurance in my emergency savings?

I have an emergency fund that covers the next N months of life's expenses: rent, utilities, food, etc. But I recently realized I haven't accounted for insurance that is currently provided by my ...
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0answers
25 views

How to properly tune insurance deductible/excess for risk appetite

We all know you can arrange a higher deductible (USA) or excess (UK) to pay a lower insurance premium. My question is, is there an established method to identify what is the optimal size of ...
31
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7answers
8k views

Do I need life insurance if I can cover my own funeral costs?

I'm fairly well off and could cover the cost of a funeral out of personal savings and investments. I'm also single, in my late 20s, and live alone. Unfortunately, my family (parents and siblings) aren'...
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3answers
523 views

Is playing the lottery worth it in the same way that insurance is?

I was reading this question, and it made me wonder - If insurance is worth the expected loss because of the catastrophe that it could prevent, can playing the lottery be worth the expected loss ...
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11answers
8k views

Why do people buy insurance even if they have the means to overcome the loss?

Insurance companies are businesses and their goal is to make money. It follows that if you are neither lucky nor unlucky, you will end up in the long run losing money by stipulating an insurance. I ...
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3answers
185 views

Should I get a release of liability statement before paying for damages?

A sink in my condominium overflowed without me realizing it, and water went into my neighbor's condo, below me. There's damage to her drywall, and I agreed to pay to have it replaced. I received ...
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2answers
151 views

Are you covered if homeowners insurance policy information is incorrect?

I'm wondering if an insurance company could deny my coverage if a disaster happens and, after the fact, they determine that information I supplied when signing up turns out to be inaccurate. For ...
1
vote
1answer
67 views

Do typical auto insurance policies pay attorney fees directly, or only reimburse for them?

How are lawyers paid by insurance companies in the case of a lawsuit? In other words, let's say that an insured motorist is sued for personal injury. Does the motorist's insurance company engage and ...
6
votes
2answers
128 views

How to get liability insurance for an electric kick scooter in California?

I just purchased a Segway Ninebot ES4 electric kick scooter. I'm from the Netherlands but live in the United States (California). I have a global liability insurance but it excludes motorized ...
78
votes
15answers
18k views

Are small insurances worth it?

Small insurances like phone insurance, tire insurance, etc. Are these worth it? In general I always have a bad gut feeling about any insurance. I just don't like the idea of paying for stuff I never ...
0
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1answer
56 views

Should I continue with ULIP

I am from India. I have a ULIP (Unit Linked Insurance Plan) worth Rs 75000 per year which I started in June 2018. The plan is for 10 years and I have already paid for 1 year. I bought this to get a ...
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1answer
67 views

Still enrolled in Medicaid after starting new job

I just started a new job and I am still enrolled in Medicaid officially. Can I still use Medicaid until my new company sponsored health insurance kicks in?
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3answers
724 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 ...
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1answer
67 views

Requirement to purchase Collision Damage Waiver for car hire excess coverage

I recently took out a car hire excess reimbursement policy from a reputable third party insurance company (AIG). The policy states that CDW is required in order to receive reimbursement for a claim. ...
3
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1answer
58 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 ...
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2answers
375 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 ...
9
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1answer
407 views

My mortgage handler mishandled my flood insurance proceeds - course of action?

My home flooded in August 2016. I received an insurance payout very timely. My mortgage lender, Whitney bank placed the funds in an escrow account and informed me that I must use a contractor and ...
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0answers
145 views

car insurance claim, police report, minor damage and carfax

I parked my brand-new car on the street at night and woke up next morning to find out that someone, perhaps on the bike has hit it and the side mirror cover is off. The small dent on the side of the ...
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4answers
3k views

What are the practical implications of buying a house in a high Earthquake risk area?

I am purchasing a house in Indio California, that is described as being in an high risk Earthquake area. That sounds scary but the actual stats for the area are less so: Nearest Earthquake: 2.9 ...
3
votes
2answers
128 views

Gambling as geopolitical insurance

I am a British citizen living in Germany. I do not know the odds of any particular outcome of Brexit (and I'm not sure how to calculate any odds, as I don't have any relevant expertise in politics or ...
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0answers
48 views

Insurance CoInsurance company discloses financial claim information to the doctor office without consent, resulting in debt harassment

My Mother's insurance requires her to pay all doctor office fees upfront and then file an individual claim for reimbursement. Is it illegal for an insurance company to disclose financial claim ...
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6answers
12k views

Why does Geico ask me not to reveal the limits of my liability coverage in case of a car accident?

I read on my "Evidence of Liability Insurance card" issued by Geico in California, US: What to do at the time of an accident: […] Do not reveal the limits of your liability coverage to anyone. Why ...
2
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1answer
186 views

Can I pay off mortgage in full to keep my insurance claim check?

I've received an insurance claim check due to water damage in our house and the check was made in my name as well as my mortgage company's name. We believe that we can do the necessary repairs for ...
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0answers
72 views

How do the ultra rich protect their money? [duplicate]

FDIC insures each account up to $250,000. A few billion / 250,000 = way too many bank accounts. So how do the ultra rich insure their fortunes?
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9answers
2k views

How Is Insurance Fundamentally Different Than A Ponzi Scheme?

After watching this video from the WSJ about long term care its problem, it seems to indicate the following: Actuaries didn't think people would live as long as they have, so they wouldn't need the ...
2
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0answers
143 views

Why many travel insurances don't cover country of nationality?

It seems that it is common practice among many (but not all) travel insurance companies to exclude country(ies) whose nationality the traveler possesses (even if the traveler does not live in his ...
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1answer
81 views

Insurance premiums as an investment opportunity

Here is the scenario: Let's say you are an insurance company and you pool premiums from policyholders in pools of different risk (low, medium, high). Now you want to propose to other people to stake ...
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2answers
536 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?
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3answers
2k 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 ...
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0answers
83 views

How does my current insurance work?

Sorry for the vague title, in case location matters this is done in Europe, Austria. And all of this was handled by the same agent. I will first write down what this is about and then ask the ...
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1answer
111 views

How to estimate specific insurance benefits?

I pay for a private occupational disablement insurance plan. This is on the first look a good thing from my point of view, because 25% of all employees encounter a disablement preventing them to ...
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votes
1answer
63 views

HSA Distribution Reversal Challenges

I had been paying out of network dental providers the full amount on day of service with my Cigna HSA debit card. Then I received checks for the part insurance covers and deposited those in my bank ...
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2answers
144 views

What are things to look for when buying home insurance?

Rolling around to another insurance renewal period on my homeowner's policy. Aside from the premium and deductible (lower is better) and the coverage level (higher is better), what are the ...
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1answer
109 views

Business Bank Account vs Personal Bank Account

What is the best practice when opening up a business bank account for a business that I anticipate to be worth more than $250,000. Does the FDIC insure amounts more than this for business accounts? Or ...
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1answer
80 views

Why isn't auto insurance included in DTI

The debt-to-income ratio includes monthly payments such as your mortgage, car payments, student loan repayments, and child support. However, it doesn't include payments such as auto insurance. I ...
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2answers
215 views

What would happen if something were insured twice? [duplicate]

This is purely hypothetical and I'm not sure how it would work. Let's say that I own a house and I insured the building and its contents. Then I contacted another insurance company and I insured the ...
3
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2answers
115 views

Is it advised to minimize life insurance cover as investments grows over the time?

I am investing for retirement. I have covered myself with term/life insurance. I understand importance of insurance; that is not what I am asking here. Premiums paid for insurance are expense. ...