Can I have Medicare and employer health insurance at the same time?

Yes, if you're still working and have employer coverage, you can delay Part B without penalty. If the employer has 20+ employees, their insurance pays first. If fewer than 20 employees, Medicare is primary, and employer insurance is secondary.

How does the No-Claim Bonus affect my premium?

The No-Claim Bonus reduces your premium by offering a discount based on the number of claim-free years. A higher NCB typically results in a larger discount and lower premium for the next term.

What is a beneficiary in an insurance policy?

A beneficiary is a person or entity designated to receive the policy's benefits upon the policyholder's death or under specific conditions.

Can CPCU help with insurance regulatory and compliance roles?

Yes, CPCU covers key areas of insurance regulation, ethics, and legal compliance, making it valuable for professionals working in insurance compliance, regulatory affairs, and risk management roles at insurers or government agencies.

Does Marine Liability Insurance cover piracy-related risks?

Some policies include piracy-related liabilities, such as crew injury or ransom payments, while others require additional War Risk Insurance.

What is business property insurance?

Business property insurance protects physical assets, such as buildings, equipment, inventory, and furniture, against damage or loss due to events like fire, theft, vandalism, and natural disasters. It helps businesses recover financially by covering repair or replacement costs, ensuring operations can resume smoothly after unexpected incidents.

What is an unearned premium reserve?

An unearned premium reserve represents premiums collected for coverage that has not yet been provided. If a policy is canceled before the coverage period ends, the insurer may need to refund a portion of the unearned premium.

Do co-payments apply to preventive care services?

Many insurance plans, especially under the Affordable Care Act (ACA), provide preventive care services like vaccinations and screenings with no co-pay requirements.