Does accident-only pet insurance cover diagnostic tests?

Yes, if diagnostic tests like X-rays, MRIs, bloodwork, or ultrasounds are needed due to an accident, they are usually covered. These tests help veterinarians diagnose injuries and determine the best course of treatment. Illness-related diagnostic tests, however, are not covered.

How do Indexed Universal Life policies work?

Indexed Universal Life Insurance links the cash value growth to a stock market index, such as the S&P 500. Policyholders benefit from market gains up to a cap, while a guaranteed minimum interest rate protects against losses.

How does insurable interest affect business insurance?

In business insurance, owners, partners, and key stakeholders have an insurable interest in company assets, employees, and operations, as they would incur financial loss from damages or liabilities.

What are the types of actuaries?

There are different types of actuaries, such as life actuaries, health actuaries, property and casualty actuaries, pension actuaries, and enterprise risk actuaries. Each type focuses on specific areas of risk, such as life insurance, healthcare, property insurance, pension planning, or broader financial risk.

What is the role of IRDAI in digital insurance?

IRDAI promotes digital transformation in insurance through e-KYC, online policy issuance, digital claim settlements, and cybersecurity regulations to enhance accessibility and efficiency in the sector.

How much professional liability insurance do I need?

Coverage needs depend on industry risk, client contracts, and business size, but professionals often carry at least $1 million in coverage.

What is the Medicare Savings Program (MSP)?

The MSP helps low-income individuals pay for Medicare premiums, deductibles, and coinsurance. There are four levels of assistance: QMB, SLMB, QI, and QDWI. Eligibility is based on income and resource limits set by each state.

How can I keep my No-Claim Bonus intact?

To keep your No-Claim Bonus intact, avoid filing claims unless absolutely necessary. If you need to file a claim, consider paying for smaller repairs out of pocket to maintain your claim-free status.