Does Workers' Compensation cover mental health conditions like stress or anxiety?

Workers' Compensation may cover mental health conditions if they result directly from work-related incidents, such as workplace violence, harassment, or extreme job-related stress. However, proving psychological claims can be challenging, and coverage varies by state. Employees may need medical evaluations and strong evidence of work causation.

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Can an insurer operate with a negative solvency ratio?

No, a negative solvency ratio means an insurer’s liabilities exceed its assets, signaling financial distress. Regulatory agencies may intervene to protect policyholders, requiring the insurer to raise capital, restructure, or face closure.

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Do I pay the deductible for every claim?

Yes, the deductible typically applies to each claim made under the policy. If multiple claims are made within a policy period, the deductible may apply to each claim individually.

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What is an insurance surcharge?

A surcharge is an additional fee added to your premium due to specific factors, such as filing multiple claims, traffic violations, or lapses in coverage. Surcharges can increase your overall cost and typically last for a few years. Avoiding claims and maintaining a clean record can help minimize surcharges.

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Do all types of insurance have a grace period?

Most insurance policies, including life, health, and auto insurance, have a grace period, but the duration and terms vary. Some policies, such as liability-only auto insurance, may not offer one.

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Does trip cancellation insurance cover any reason for canceling a trip?

Standard trip cancellation insurance only covers specific reasons listed in the policy, such as illness, injury, or emergencies. "Cancel for Any Reason" coverage can provide more flexibility.

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Can I cancel my term life insurance policy?

Yes, you can cancel a term life insurance policy at any time by stopping premium payments. However, you won’t receive a refund for past premiums, and coverage ends immediately. It’s important to have a replacement plan if coverage is still needed.

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Can someone be insured under multiple policies at the same time?

Yes, individuals or entities can have multiple policies covering the same or different risks, such as multiple life insurance policies or overlapping health and disability coverage.

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