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Which type of insurance coverage allows the insured to purchase more insurance after a specified period of time?
term insurance
Which tyes of insrance dos not build a cash value for insured?
Term life insurance does not build cash value for the insured. Unlike whole life or universal life insurance, which accumulate cash value over time, term life insurance provides coverage for a specified period and pays a death benefit only if the insured passes away during that term. Once the term expires, there is no payout or cash value.
How is renter's insurance different from homeowner's insurance?
Normally, renter's coverage applies only to the contents of the dwelling (furniture, for example). In contrast, homeowner's coverage is much broader. It applies to the structure of the dwelling, contents, and typically has an element of liability coverage that provides protection to the insured in case a guest is injured, because of the insured's negligence, upon the insured premises.
Is additional insured the same as insured as used in a business income coverage policy?
An Additional Insured is only used for General Liability coverage. Since Business income is a property coverage, they would not be insured. Also, business income is designed to pay for loss of income to the insured, not lienholders, or contractors they are performing jobs for.
What is another name for life cycle insurance?
Another name for life cycle insurance is "whole life insurance." This type of insurance provides coverage for the insured's entire lifetime, as long as premiums are paid, and it also includes a savings or investment component that accumulates cash value over time.
Which type of insurance coverage allows the insured to purchase more insurance after a specified period of time?
term insurance
Which type of insurance coverage allows the insured insurance to purchase more insurance after a specified period of time?
term insurance
How much is a double break on a foot from home owners insurance?
There is not enough information to answer your question. Did this injury occur in the home or away from the home? Who was injured and how did it occur? Was an insured household resident injured at the insured home? A homeowners insurance policy often provides a small amount of medical coverage if the insured elected it at the time of purchase for minor household injuries but does not replace a medical insurance policy. Was a guest injured on the premises of the insured home? Homeowners insurance policies often provide Liability coverage if the insured elected the coverage at the time of purchase that might provide coverage if the insured home owner was at fault for the injury. You would need to check your home insurance policy or contact your agent to determine if you purchased medical coverage or liability coverage depending on what occurred and if so, what limits are available.
What is guaranteed insurability?
Guaranteed Insurability refers to a person who is insured on a life insurance policy. Guaranteed Insurability guarantees the insured person to purchase additional life insurance coverage without having to take a physical examination or showing any other evidence of insurability. Additional life insurance coverage may be purchased at a stated time in the future. Some life insurance policies offer the opportunity to purchase additional guaranteed life insurance coverage on certain anniversary dates of their life insurance policy, such as, every fifth year of the policy up to a maximum age of 40, 45, or 50. In addition, the insured person may be able to purchase additional guaranteed life insurance coverage upon the birth of a child in the insured's family.
What type of insurance coverage allows the insured to purchase more insurance after a specific period of time?
The type of insurance coverage that allows the insured to purchase more insurance after a specific period of time is known as "guaranteed insurability" or "guaranteed purchase option" coverage. This provision is typically found in life insurance policies and some health insurance plans, enabling policyholders to increase their coverage without undergoing additional medical underwriting. This feature is beneficial for individuals who anticipate changes in their insurance needs due to life events such as marriage, the birth of a child, or increased financial responsibilities.
What does 'stacking' mean in regard to auto insurance?
Georgia automobile insurance law states that people who purchase insurance may "stack" - or add the coverage together for each insured vehicle - for uninsured and underinsured motorist coverage.
Will homeowners cover damage to non owned golfcart if you damage it?
Homeowners insurance is coverage for specified property owned by the named insured. It does not cover the property of others.
Can a child be an insured in a home owners insurance policy?
Yes, If a child owns the home, the legal gaurdian can purchase the coverage needed.
Which type of insurance is sometimes called temporary insurance?
Term life insurance is often referred to as temporary insurance. This type of policy provides coverage for a specified period, typically ranging from one to 30 years, and pays a death benefit if the insured passes away within that term. If the term expires and the insured is still alive, the coverage ends, and there is no payout or cash value.
How can you find out if your car is insured?
Your car is not insured unless you purchase insurance for it.
What if the other driver has some insurance but not enough to cover my losses?
In most states you can purchase under-insured motorist or uninsured motorist coverage that will kick in when the other parties insurance is depleted.
How do you find your neighbors homeowners insurance for liability?
You will just have to ask them for the insurance information. there is no central registry or database for homes and the insurance companies that insure them. You should first determine if your neighbor even has Liability insurance. Not all homeowners purchase liability coverage with their insurance policy. A home insurance policy can be bought with or without liability coverage. If the homeowner has elected liability coverage, The homeowners insurance policy will provide the homeowner with legal defense for the cost of defending against a suit that is brought against them claiming liability on the part of the insured. If the Insured is found at fault or liable in court, then their insurance company will cover the cost of those liabilities up to the specified policy limits. Alternatively you can sue your neighbor. Then If your neighbor has Liability coverage on his home insurance policy, You will then meet your neighbors insurance company attorneys in court.
