Critical illness insurance is designed to provide coverage for severe illnesses that can have significant financial implications, like cancer, heart attack, and stroke. The illnesses covered vary depending on the policy, but common conditions include: heart failure, coronary artery bypass surgery, kidney failure, cancer (including leukemia, lymphoma, and melanoma), major organ transplants, paralysis, severe burns, … Read more
If you discover damp in your property, it’s crucial to determine the cause and seek professional advice promptly. Depending on your insurance policy, you may be able to file a claim for damages caused by damp. Policies vary in coverage, so it’s essential to check if yours includes damp-related issues. If the damp results from … Read more
War and Military Action Life insurance policies typically exclude coverage for deaths resulting from war or military action. This exclusion applies to both foreign and domestic conflicts. Some policies may provide limited coverage for combat-related deaths, but these provisions are rare. The exclusion for war and military action is based on the principle of “proximate … Read more
Endowment in insurance refers to a type of life insurance policy that combines savings and investment options. Unlike term life insurance, which provides coverage for a specific period, endowment policies offer coverage for the entire lifetime of the insured person. The policyholder pays regular premiums into the plan, which accumulate over time. A portion of … Read more
Whether your insurance covers damage from off-roading largely depends on your specific policy and the circumstances of the incident. Generally, insurance providers extend coverage to on-road driving, but many exclude activities that deviate from typical road conditions. Certain policies may offer an “off-road” or “adventure” rider that provides additional protection for rough terrain. If you’re … Read more
Insurance companies are classified as financial institutions because they deal with the management of financial risks and provide financial protection to individuals and businesses. They are in the business of providing insurance policies that protect policyholders from financial losses in the event of uncertain events, such as accidents, illnesses, property damage, or legal liabilities. These … Read more
Facultative reinsurance is a coverage that is taken out on a specific risk, such as a large property exposure or an event cancellation. It is purchased on an individual basis, rather than as part of a treaty. This type of reinsurance is often used to cover risks that are too large or too specialized to … Read more
Subrogation in insurance occurs when the insurance provider steps into the shoes of the policyholder to pursue recovery of expenses they paid out on a claim. This happens when a third party is legally responsible for causing the loss or damage. For instance, if an insured driver’s car is hit by a negligent driver, the … Read more
Typically, landlord insurance policies do not provide coverage for carpets. This is because carpets are generally considered to be a part of the building structure, not a personal belonging. However, there may be some exceptions to this rule. For example, if the carpet is damaged due to a covered peril, such as a fire or … Read more
Molina Marketplace provides health insurance plans through the Affordable Care Act (ACA) marketplace. These plans are designed to offer affordable coverage to individuals and families who do not have access to employer-sponsored health insurance. Molina Marketplace plans include a range of options to meet different needs, including HMO, PPO, and EPO plans. These plans cover … Read more