How are premiums determined for Variable Life Insurance?

Premiums are based on factors such as age, health, coverage amount, and policy features. While payments can be flexible, they must be sufficient to cover mortality charges and administrative fees to keep the policy active.

Do health insurance policies also lapse?

Yes, health insurance policies lapse if premiums are not paid on time. A lapsed health policy may result in loss of coverage, waiting periods upon renewal, or denial of future coverage.

What is embedded insurance?

Embedded insurance integrates coverage directly into products or services, allowing customers to purchase insurance seamlessly during transactions.

Which insurance companies have the highest customer satisfaction ratings?

Customer satisfaction varies by region and product line. In the U.S

Does cyber insurance cover ransom payments to hackers?

Yes, most cyber insurance policies cover ransom payments, but insurers may require proof that paying the ransom is the best option for business continuity.

What does flood insurance cover?

Flood insurance covers direct physical losses due to flooding. Building coverage includes walls, flooring, electrical and plumbing systems, HVAC units, and major appliances. Contents coverage protects belongings like furniture, clothing, and electronics. However, coverage does not typically include landscaping, basements, or temporary housing expenses.

Can I change my premium payment frequency?

Many insurers allow you to choose between monthly, quarterly, semi-annual, or annual payments. Some options may have added fees, while annual payments often come with discounts. Check with your insurer for available payment plans.

What should I do if I disagree with the adjuster’s assessment?

You can dispute the assessment by providing additional documentation, hiring a public adjuster, or requesting a second opinion from an independent expert.