Can Medicaid be used as secondary insurance?

Yes, Medicaid can act as secondary insurance by covering costs that primary insurance does not, such as copays, deductibles, and uncovered services. Medicaid may also cover medical expenses for those with limited private insurance benefits.

Does NCB affect add-ons and other charges in my policy?

No, NCB only applies to the own-damage (OD) portion of the premium. It does not affect the premium for third-party coverage, add-ons like roadside assistance, engine protection, or zero depreciation cover.

Can an insurance company reject my beneficiary designation?

Generally, no. However, legal restrictions, conflicting designations, or errors in documentation may cause issues that need to be resolved.

Can I join the CPCU Society if I am still a candidate?

Yes, CPCU candidates can join the CPCU Society as student members. This provides access to networking events, educational resources, and mentorship opportunities. Being part of the society while studying for CPCU exams helps candidates connect with experienced professionals and gain insights into the industry.

What happens if a farmer does not receive an insurance payout on time?

If a claim is delayed, farmers should contact their insurer, provide additional evidence if required, and, if necessary, seek assistance from agricultural authorities or legal support.

Can I choose my deductible amount?

Yes, most insurers allow you to choose a deductible amount, typically ranging from $100 to $1,000, affecting your premium costs.

How often must insurers report RBC calculations?

Insurers must file RBC reports annually with regulators. However, significant financial events or changes in risk exposure may require additional reporting. Regulators monitor RBC ratios throughout the year to ensure insurers maintain sufficient capital to cover their risk exposures.

Are co-payments applied before or after I meet my deductible?

Co-payments are usually required even before you meet your deductible. They are a form of cost-sharing for specific services and apply separately from the deductible. For example, you may pay a co-pay for doctor visits regardless of whether you have met your annual deductible. However, in some cases, co-pays may count toward your deductible, depending on your insurance plan. Always check your policy for details.