Do life insurance policies have endorsements?

Yes, life insurance policies may have endorsements such as waiver of premium (which allows premium payments to be waived in case of disability), accelerated death benefit riders, and additional term riders for more coverage.

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How does predictive analytics, fueled by Big Data, impact underwriting in insurance?

Predictive analytics uses historical data to forecast future risks, allowing insurers to assess underwriting risks more accurately and streamline the underwriting process by automating decision-making.

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What is a copayment in health insurance?

A copayment (copay) is a fixed amount you pay for specific medical services, like doctor visits or prescriptions, before insurance covers the rest.

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Does travel medical insurance cover adventure sports injuries?

Many standard policies exclude injuries from high-risk activities like scuba diving, skiing, or skydiving. However, some insurers offer optional adventure sports coverage, which travelers can add to their policy for additional protection.

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Are there exclusions in third-party insurance?

Yes, exclusions include damages to the insured’s vehicle, intentional harm, illegal activities, driving under the influence, and claims exceeding policy limits.

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What is liability insurance?

Liability insurance covers legal and financial responsibilities if an individual or business is found responsible for causing injury or property damage to others.

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What is a non-disclosure agreement (NDA)?

A non-disclosure agreement (NDA) is a legally binding contract that prevents parties from disclosing confidential information. Businesses use NDAs to protect trade secrets, intellectual property, and sensitive business details.

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What is a retroactive date in indemnity insurance?

A retroactive date is the earliest date an incident can occur for it to be covered under a claims-made indemnity insurance policy.

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