If your car insurance lapses, it means you don’t have active coverage. If an insurance company sees that you had a period of time with no insurance, they might consider you a higher risk. Driving without insurance could also result in fines, tickets and a suspended license, depending on ...
But with many regions of the country being impacted by the worsening fallout from climate change, non-renewal of homeowners insurance policies is becoming more commonplace. And there are other reasons yourhome insurancecould unexpectedly be canceled—including lapses in payment or even misrepresentation ...
What do I do if I outlive my term life insurance policy? When aterm life insurancepolicy matures, you have a few choices for what to do next. The life insurance options available will depend on your insurance company, age, health, and family history as well as the term life insurance pol...
Term Life Insurance Term life insurance is a popular choice for individuals who want affordable coverage for a specific period. This type of policy provides a death benefit to the beneficiaries if the insured passes away during the term of the policy. Here are some key points to know about te...
In some cases, you can reinstate your policy if it lapses, but you may need to provide updated information on your health to do so. Accidental death policies. Accidental death and dismemberment insurance, or AD&D, is designed to cover accidents. It doesn't pay out if you die of illness...
2. HIPAA: Health Insurance Portability and Accountability Act HIPAA is a federal law in the United States to ensure the security and privacy of Protected health information which is any demographic or personal information that can help identify a patient. Who needs to comply with HIPAA? Both cove...
The grace period holds significant importance for health insurance policies with an annual premium payment mode, serving as a safeguard against unintended lapses in coverage and offering policyholders a crucial opportunity to manage their premium payments effectively. ...
Another vital reason for understanding the end of a life insurance term is to avoid unexpected financial burdens. If your policy lapses without your knowledge, you may be left without coverage when you need it most. This can result in financial strain for your loved ones and negative consequence...
Whole life insurance is more stable because the death benefit will never go down if you pay your premiums, which are fixed monthly amounts. Universal life insurance offers more flexibility, but your death benefit isn’t guaranteed. You can increase or decrease the amount you spend on premiums ...
Also, if your policy lapses with an outstanding loan, the loan could become taxable.9 Is Indexed Universal Life Insurance (IUL) a Good Investment? An IUL can be a good way to save up money in a cash value account that, connected to a market index, may earn modest returns. However, ...