Does trip cancellation insurance cover pre-existing medical conditions?

Some policies cover pre-existing conditions if you purchase the insurance shortly after booking (typically within 14–21 days) and are medically fit to travel at the time of purchase. A waiver may be required for coverage.

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How is the surrender value of a life insurance policy calculated?

The surrender value depends on factors such as the total premiums paid, policy tenure, deductions for administrative and surrender charges, and any bonuses accumulated. Insurers use a specific formula, which is detailed in the policy terms.

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Are E&S policies more expensive than standard insurance?

Typically, yes. Due to the higher risk associated with E&S policies, insurers charge higher premiums to compensate for the potential loss exposure.

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What is disability insurance?

Disability insurance provides income replacement if an individual is unable to work due to injury or illness. Short-term policies typically cover a few months, while long-term policies can last for years. This type of insurance helps individuals maintain financial stability during periods of temporary or permanent disability.

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How does subrogation work in insurance claims?

When an insurer pays a claim, it assumes the policyholder’s right to seek reimbursement from the party at fault. The insurer then pursues recovery from the responsible party or their insurer.

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Is emergency evacuation coverage expensive in travel insurance policies?

The cost of adding emergency evacuation coverage varies depending on the policy, your destination, duration of travel, and overall coverage limits, but it is often relatively affordable.

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How does the death benefit work in Variable Life Insurance?

The death benefit consists of a guaranteed minimum payout plus any additional cash value growth from investments. However, if investments perform poorly, the total payout could be lower, though not below the minimum guaranteed amount if applicable.

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What causes a policy to lapse?

A policy typically lapses when the policyholder fails to pay the required premiums on time and does not take corrective action within the grace period specified by the insurer.

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