Does the Sum Assured change if I miss a premium payment?

Missing a premium payment may affect the policy's status, possibly causing it to lapse. If the policy lapses, the Sum Assured may not be paid out unless the policy is revived. If the policy is still in force, the Sum Assured remains unchanged unless it has a built-in flexibility clause.

How do I decide on the right deductible amount?

Choosing a deductible depends on financial risk tolerance. A higher deductible lowers premiums but increases out-of-pocket costs, while a lower deductible results in higher premiums but lower claim expenses.

What are the environmental concerns related to blockchain technology?

Proof-of-work blockchains like Bitcoin consume significant energy, raising concerns about environmental sustainability and carbon footprint.

What happens after I file an insurance claim?

After filing a claim, the insurer assigns an adjuster to review your case, assess damages, and verify documents. They may request additional information or conduct interviews. If the claim is approved, you’ll receive a settlement or direct payment to a service provider.

Does travel insurance cover dental treatment abroad?

Travel medical insurance usually covers emergency dental treatment, such as pain relief or repairs due to injury. However, routine dental care (like check-ups or fillings) is typically excluded. Always check your policy for specific dental coverage details before your trip.

What fees and charges are associated with Universal Life Insurance?

UL policies have several fees, including cost of insurance charges, administrative fees, mortality and expense charges, and surrender fees. Some policies may also have investment-related fees if they include indexed or variable components. It’s important to review these charges as they impact the cash value and policy performance.

How can policyholders verify an insurer’s reliability?

Policyholders can check an insurer’s reliability by reviewing financial ratings from agencies like A.M. Best, Standard & Poor’s, and Moody’s. They can also research consumer reviews, complaint records, and the insurer’s claims handling reputation.

What are the different types of reinsurance?

The main types of reinsurance are facultative (case-by-case basis) and treaty (covering a portfolio of policies). There are also proportional and non-proportional reinsurance structures.