What is "Cancel for Any Reason" (CFAR) insurance?

CFAR is an optional add-on that allows you to cancel your trip for any reason not covered by standard policies. It typically reimburses 50–75% of your prepaid expenses and requires cancellation at least 48–72 hours before departure.

Is sum assured the same across all types of life insurance policies?

No, different policies have different sum assured structures. Term plans offer a high sum assured with no returns, while whole life and endowment plans provide a lower sum assured but include savings and bonuses.

Can a business move from E&S insurance to a standard policy later?

Yes, if the business lowers its risk profile, improves loss history, or meets standard underwriting criteria, it may qualify for traditional coverage in the future.

What is homeowners insurance?

Homeowners insurance covers damage to a home and belongings due to perils like fire, theft, or storms. It also includes liability coverage for injuries occurring on the property. Policies vary, but most cover repairs, replacements, and additional living expenses if the home becomes uninhabitable after a covered event.

What if the damage costs less than my deductible?

If repair costs are below your deductible, you won't receive a payout from your insurer, and it may not be worth filing a claim. Paying out-of-pocket may be the best option to avoid premium increases.

Can emergency evacuation coverage be used for a medical transfer between hospitals?

Yes, if the coverage allows for medical transportation, emergency evacuation can include transferring you between hospitals if necessary for specialized treatment or care.

What happens if my investment choices perform poorly?

If investments perform poorly, your cash value may decline, which could require additional premium payments to keep the policy in force. In extreme cases, if the cash value is depleted, the policy could lapse.

What is the future of Insurtech?

The future of Insurtech includes AI-driven automation, expanded blockchain adoption, greater use of IoT data, parametric insurance growth, and increased partnerships between startups and traditional insurers to improve efficiency and innovation.