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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2
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2answers
44 views

Term Life Insurance rate will stay inside the same group?

I am reading AAA Term Life Insurance offer. I am wondering that the rate will stay inside the same group until the end of the insurance (80 years old) or will jump to a different group when you are ...
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1answer
97 views

Buy one term insurance policy for Rs 2 crore or two term insurance policies for 1 crore each?

If I need to provide for two sets of dependents and may need to remove one set of dependents in future, does it make sense to get one Rs 2 crore term life insurance policy or two separate Rs 1 crore ...
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3answers
263 views

If I don't trust insurance companies, what alternative options exist to counter a potential earthquake?

I live in Seattle which is well known for potentially having a huge earthquake sometime in the next 1,000 years. I would like to protect my property against such a catastrophic outcome, but at the ...
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3answers
1k 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 ...
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0answers
42 views

School's tuition insurance charge eligible for 529 reimbursement?

My son's tuition bill includes around $100 for tuition insurance. Can I have this paid directly from the 529 account to the university, or must I pay that separately? Articles I've read researching ...
5
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2answers
75 views

Insurance for expensive items in carry-on moving from US -> Canada

I'm repatriating from the U.S. to Canada. My apartment is ending my lease on the day I fly out, then I'll be staying in a hotel for a while before moving to permanent housing. I have some antiques ...
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1answer
48 views

Why isn't money in a Transferwise account insured?

I'm thinking of moving my money to an online banking/transfer services. After an online search, I selected Transferwise for some reasons. While I was reading their docs, I found this: If something ...
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1answer
38 views

Journals for credit with suppliers

How would I keep a record of payments with an insurance supplier (Zego if that helps) if they bill on the basis that the account gets topped up with credit, then they deduct from the credit on a pay ...
0
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1answer
71 views

Insurance product for retirement

I am new in finance. If I want to propose an insurance product for retired people, and I am supposed to take on financial risks in the hope of profit. Can someone give me some informative tips of what ...
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1answer
116 views

What factors should be considered while buying home insurance?

I own a flat/home/unit in an apartment. I recently paid off all may outstanding mortgage. While the mortgage, the home-insurance was owned by (in name of) bank which is now cleared off. As there is ...
2
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2answers
190 views

Insurance for my brokerage held investments

This is not about protecting the VALUE of my investments against market fluctuations, stock prices drop ...etc. What I am looking for is to protect my investments in shares and options that I am ...
2
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1answer
313 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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2answers
115 views

When buying an insurance policy, is it necessary to analyze the credit risk of the insurance company?

When saving money in a bank, one does not have to worry about credit risks of the bank because there is deposit insurance. When buying insurance, do I have to worry about the credit risk of the ...
5
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3answers
466 views

Auto Insurance in Michigan: What is the need for liability covereage?

I live in Michigan. Recently, state law changed such that we have "no-fault" auto insurance. We still must hold liability of $50,000 per person, $100,000 per accident. Since we are in a &...
15
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8answers
613 views

Buying insurance (extended warranty or guarantee) on everyday goods / appliances?

I have a practice of never buying insurance except when the law demands, such as car insurance, or when the loss would be too great to bear, such as house insurance, and this policy has saved me a lot ...
0
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1answer
107 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 ...
3
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2answers
294 views

If you change to a new employer, does dental lifetime maximum reset?

Suppose that you have a lifetime maximum with Provider A at Employer A. You use your $1500 lifetime maximum for major work. Then you get a new job. Then you want to do more major work. You get an ...
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1answer
62 views

Should flat owner (in multi-story apartment, living beneath another flat) take both Building insurance & contents insurance

This is UK specific question. In case of flat, everyone is aware that there's some building wide structure insurance which management company arranged on behalf of flat owners & the freeholder. ...
4
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1answer
187 views

Are there any avenues for hedging against the risk of a broke landlord?

My family rents our primary residence in a major city and we pay significant monthly rent, enough to cover two or three mortgage payments in a cheap juridisction. One of the key reasons I have been a ...
6
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2answers
238 views

Car insurance gas station mix-up fuels — gas station made the mistake

We rented a car with Hertz and we filled up our tank with petrol and later on that day our car broke down. The road side assistance people told us the next day that we put diesel instead of petrol in ...
0
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1answer
145 views

Weird charge in insurance plan

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
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1answer
95 views

Do financial institutions cover customers for cases of cybertheft?

No cybersecurity is perfect; accounts can be hacked at any time. If I find that a hacker has stolen the money in my bank or broker account, does the financial institution cover that; or is it my loss,...
6
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1answer
265 views

What kind of insurance do I need for my little house in a garden?

There is a small house located in my orchard in Germany. The orchard contains mostly fruit trees and is situated in a landscape protection area. The house has two stories and is built of stone, but it ...
2
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3answers
160 views

How do insurers justify raising premiums after no-fault claims?

I don't know if it applies to other countries, but in Canada practically all auto and home insurers routinely raise your insurance premiums after you make a claim, even for not-at-fault and purely ...
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2answers
57 views

Validity of an exchanged foreign driving license

I exchanged my EU driving license (obtained back in 2004) into a UK one in 2015. The UK driving license therefore says 2015 under 'Date of Issue'. I'm in the process of getting quotes for car ...
2
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1answer
106 views

If I buy life insurance in one state, and then move, does my life insurance policy still cover me in a new state?

I'm planning on moving to a new state next year, but in the meantime I want to get some life insurance to protect my family from any unfortunate tragedy that may befall me along the way. Looking into ...
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0answers
54 views

How do I get my insurance to treat an ambulance charge for a 5150 transfer as “in network”?

My daughter became suicidal and after taking her to our local emergency room she was placed on a 5150 and was subsequently transferred to the nearest inpatient mental health faculty. Our local ...
3
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1answer
556 views

How to obtain “Negative Equity Insurance” aka “Home Equity Protection” aka “Equity Protection Policy” in the UK?

I'm searching for an insurance policy to protect against negative equity on a residential real-estate. The risk I'm trying to protect against is that house prices will fall. I'm looking for ...
2
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0answers
112 views

Turning 30, getting driver's license for the first time, need insurance

This is a bit embarrassing, but I am turning 30 and am just now trying to get a driver's license for the first time. I own my own car, just bought it recently to learn to drive, but I don't have a ...
34
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4answers
5k views

Who pays the premium for bank deposit insurance?

Normally, when I want insurance coverage (e.g. for my car and house), I have to pay a premium to the insurer. My bank account comes with deposit insurance to insure me against bank collapse. It looks ...
16
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4answers
3k views

Universal Life Insurance or Term Life Insurance?

I am new to this website and asking for your help with a situation related to my personal finances. I have a friend who recently joined WFG (World Financial Group) and they were asking for me to join ...
2
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0answers
30 views

Business banking insurance above FSCS £85,000 [closed]

In the UK, the Financial Services Compensation Scheme (FSCS) provides insurance for bank deposits up to £85,000. Is there an insurance (or financial product) that provides coverage above this ...
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2answers
101 views

Where can I find a highly detailed model for how a normal US health insurance companies sets premiums?

I found this, and it was a great starting point for research but I would like to learn about the nitty-gritty details. For example, obesity is not considered a "pre-existing condition" and is often ...
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2answers
141 views

What do these credentials for an insurance agent mean and are they signficant?

My family needs to buy so many insurances like Car, Condo, Critical Illness, Dental, Disability, Expat, Life, Homeowner, Landlord, Pet, Renter, Travel. We need an insurance agent and I stumbled on a ...
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1answer
81 views

Why don't insurance companies cover you if you didn't pay the month but still they require you to pay this period?

Why don't insurance companies cover you if you didn't pay the month in advance yet they require you to pay the full month along with interest if you're overdue? If you pay at 10th of the month, then ...
1
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1answer
27 views

Term Life Insurance premium vs Interest/Inflation rate

I am thinking of buying a term insurance plan for myself in India and am 28 years old. My premium per year to be paid for a period of 10 years and coverage till 99 years works out to be 111,213 INR. ...
1
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1answer
106 views

Can a person other than the person it is written to cash a Very Large Check?

My predicament: United States, father passed away, mother is disabled. I've been here for a few weeks taking care of all of their affairs, including filing the life insurance claim. Apparently, the ...
6
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2answers
105 views

Umbrella insurance and maximum liability

Let's say that your net worth is $1 million and, to protect yourself, you take out an umbrella insurance policy with a maximum liability of $1 million. Then suppose something terrible happens and you ...
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2answers
4k 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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0answers
39 views

Disability Insurance - Limitation While Outside the United States or Canada

One thing that's very important to me about DI is that it doesn't restrict its coverage area to just within US & CA. Since I will have the policy for 20 years, given the current trend of ...
0
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0answers
27 views

When does the government need Record's of Employment for EI benefits submitted to them?

I lost my job due to COVID-19. I applied for Employment Insurance (EI). The instructions regarding the Record's of Employment (RoE) were a bit unclear. When I login to Service Canada most of my RoE ...
3
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2answers
183 views

Finding trustworthy financial help for my partner in the event of my death

I'm currently researching options for my partner to manage the money she'd get, in the event of my death. In short my wife is not financially literate, but if I died would be coming into an ...
12
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4answers
2k views

Why would I/when should I stick with decreasing term life insurance?

I have been approved for some decreasing term life insurance, with a 25 year term and a decreasing payout by 8% each year. I can leave the contract at any time and take out new life insurance. What I ...
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1answer
110 views

Are there escape clauses that insurer can use to not pay claims if too many people die from Covid virus?

Are there any clauses in a insurance contract that allows an insurer to not pay claims if too many people die from Covid virus? Is there a risk that insurance customers will be left out to dry?
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1answer
85 views

What is the ratio between money paid by insurance vs total premium called?

On average, everyone loses money in buying insurance. That's understandable. Insurance have overhead costs and insurance companies want to make profit. Not all premium is paid to cover coverage. ...
22
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1answer
42k views

How does retroactive COBRA coverage work?

I'm voluntarily leaving my job at the end of this month for a new position in a couple of weeks. At my new job, I have health care coverage effective my first day of work. My current coverage ...
0
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0answers
20 views

Master condo insurance - Replacement costc vs insurance coverage limit

What's the difference between the replacement cost and the insurance coverage limit for a master condo insurance policy? Are they the same quantity? If not, how should I think about their difference?
2
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1answer
126 views

What happens to annuities in a long bear market?

Annuities are insurance contracts which establish regular payments to an individual by the insurance company, typically lasting until said individual's end of life. Usually, the individual gives the ...
0
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1answer
26 views

ULIP investment

I am from India. I have a ULIP(Unit Linked Insurance Plan) which Premium cost me Rs X00000 per year which I started in June 2019. Plan name is ICICI PruSignature. The plan is for 5 years and I have ...
1
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3answers
196 views

Car Insurance Renewal Quote Negotiation

So, once again for the sixth time in a row I have ended up switching car insurer at the end of a 6 month policy term. Every time I received a renewal quote from the insurer I was with which was ...

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