What is emergency evacuation coverage in travel insurance?

Emergency evacuation coverage in travel insurance provides financial assistance for transporting a traveler to the nearest adequate medical facility or back home if they experience a severe illness, injury, or life-threatening condition while traveling. This coverage typically includes medical transport, ambulance services, and even repatriation if necessary.

What happens to my premiums if I don’t make a claim?

If you don’t make a claim during the term, your premiums are not refunded. Term insurance does not accumulate cash value, so the money spent on premiums is not returned to you if you outlive the term.

Why do insurers prefer facultative reinsurance for complex risks?

Insurers use facultative reinsurance for complex risks because it allows them to obtain tailored coverage and reduce exposure to unusually high or unpredictable losses.

What is the difference between a law and a regulation?

A law is a formal rule enacted by a legislative body, such as Congress or Parliament, and must be followed by all citizens. A regulation is created by government agencies to interpret and enforce laws. Regulations provide details on how laws will be implemented and can carry legal consequences if not followed.

What is a retroactive date in indemnity insurance?

A retroactive date in indemnity insurance specifies the earliest date an event must occur for a claim to be covered, preventing coverage for incidents before the policy start date.

Does long-term disability insurance cover mental health conditions?

Many policies cover mental health conditions like depression and anxiety, though some limit benefits for mental health-related claims.

What is public health insurance?

Public health insurance is a government-funded or government-subsidized healthcare coverage program designed to provide medical services to eligible individuals, such as low-income families, seniors, and people with disabilities. It ensures access to essential healthcare services at little or no cost to the insured.

Can liability insurance cover defamation claims?

Yes, some policies, particularly personal or general liability, may cover defamation claims like libel or slander, including legal fees and settlements resulting from such lawsuits.