Can a beneficiary refuse to accept life insurance proceeds?

Yes, a beneficiary can refuse the insurance payout, usually by signing a disclaimer of interest. If refused, the proceeds will be paid to the contingent beneficiary or, if none exists, the policyholder’s estate. This may occur for tax planning or personal reasons.

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What is not covered under renters liability insurance?

Renters liability insurance does not cover intentional harm, business-related liabilities, car accidents, flood or earthquake damage, or personal belongings. You may need additional policies for these risks.

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How is the solvency ratio calculated?

The solvency ratio is calculated as (Net Assets / Net Premiums Written) × 100, or it can be measured as (Capital + Surplus) / Liabilities.

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How does human behavior influence hazard risks?

Human behavior plays a critical role in hazard risks. Recklessness, negligence, and complacency can create or amplify hazards. For instance, improper handling of chemicals in a factory or texting while driving are human-related behaviors that increase the probability of accidents and injuries. Education and enforcement help reduce such risks.

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How does liability insurance help gig workers?

Liability insurance protects gig workers from financial loss if they are sued for causing injury or property damage while performing their work, which is especially useful for freelancers and small business owners.

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What are common exclusions in health insurance?

Common health insurance exclusions include cosmetic procedures, elective surgeries, pre-existing conditions, alternative treatments, and injuries from self-harm or illegal activities.

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Are emergency evacuations covered for cruise travel?

Many travel insurance policies cover emergency evacuation from cruise ships to the nearest medical facility. Some also include coverage for air ambulances if necessary. Check your policy for specific maritime evacuation coverage.

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Can I buy a policy with no waiting period?

Some policies offer immediate coverage but may have higher premiums or limited benefits, requiring careful comparison to determine if the trade-off is worthwhile.

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