What does insurance cover?

Answer 1

Just about anything...I'm going to guess your asking about health insurance and the real answer is...it depends. Here's the 2 things you want to look at before purchasing health insurance of any type: 1) Pre-existing clause - standard clauses state that anything diagnosed or treated 12 months prior won't be covered for the first 12 months on the policy for instance. So, make sure you dig out the "look back" period and the "waiting" period. 2) Limitation and Exclusions - standard things like they won't pay if you were self-inflicting an injury, drugs & alcohol, illegal acts, etc. In some individual policies they can exclude (not cover at all) certain conditions that are currently present as well so make sure you read the fine print. Most States have law to govern group policies, like in Florida all group policies must cover maternity, etc. but all carriers must disclose this information and most all States have a "free look" period of at least 10 days so that you can review a policy book in its entirety after purchase and get a full refund if you decide you don't want to keep the coverage.