Are hereditary and congenital conditions covered?

Some pet insurance policies cover hereditary and congenital conditions if they were not present before enrollment. Breeds prone to specific genetic disorders should have policies that explicitly include these conditions. It’s important to check if waiting periods or exclusions apply to hereditary illnesses.

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What happens to my policy if the market performs poorly?

If you have an Indexed or Variable Universal Life policy, poor market performance may slow cash value growth or result in losses. Insufficient cash value may require additional premium payments to keep the policy active.

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Can a creditor have an insurable interest in a debtor’s life?

Yes, a creditor can take out life insurance on a debtor to cover outstanding debts, provided the coverage amount does not exceed the debt owed.

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Can adverse selection be avoided completely?

It’s challenging to completely avoid adverse selection, but it can be mitigated through strategies like implementing waiting periods, medical underwriting, and using risk-adjusted premiums to ensure only those who genuinely need insurance buy it.

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How does IRDAI regulate health insurance in India?

IRDAI sets guidelines on policy terms, pre-existing conditions, claim settlement, portability, and ensures insurers provide fair and transparent health insurance services.

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How do I file a professional liability insurance claim?

Notify your insurer, provide details of the claim, submit necessary documentation, and cooperate with any investigation or legal proceedings.

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What services does Medicaid cover?

Medicaid covers essential healthcare services, including doctor visits, hospital stays, prescription drugs, mental health care, preventive services, maternity care, long-term care, and sometimes dental and vision care. Coverage details depend on the state’s Medicaid program.

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How can I check if I’m eligible for a No-Claim Bonus?

You can check your eligibility for a No-Claim Bonus by reviewing your policy renewal notice or contacting your insurance provider directly. Insurers typically inform policyholders of their NCB status at the time of renewal.

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