When reviewing insurance options, you may come across the terms “indemnity” and “non-indemnity” used to describe certain policies. Understanding the distinctions between these two categories is important for choosing the right types of coverage. In this article, we’ll explain the key differences between indemnity and non-indemnity insurance, provide examples of each, and discuss when these … Read more
Life insurance comes in many forms, each with their own unique features and level of flexibility. One of the most adaptable types of life insurance is adjustable life, also known as universal life. This policy gives policyholders significant control to change their coverage, premiums, and other factors over time. What is Adjustable Life Insurance? Adjustable … Read more
While intentionally taking out multiple insurance policies on the same asset or risk is called double insurance, there are situations where policyholders can inadvertently end up with overlapping coverage. This occurs when separate policies end up covering the same damage or loss. Double insurance is usually not necessary and leads to wasted premium dollars. Here … Read more
Social Security provides an essential source of income for millions of retired and disabled Americans. According to the Social Security Administration (SSA), over 66 million people currently receive monthly Social Security benefits. As living costs and inflation rise, Social Security recipients depend on annual cost-of-living adjustments (COLAs) to maintain their standard of living. So how … Read more
Seeing your car insurance premium double can be an alarming and frustrating experience. While rate hikes are common, a doubling of your cost seems excessive. But there are a number of reasons why your auto insurance may surge dramatically. Understanding what’s behind the increase can help you determine if the price spike is justified or … Read more
As an insurance agent, maintaining proper records for your clients is a crucial part of running an ethical and compliant business. But with boxes of old files and documents piling up, you may wonder just how long you’re legally obligated to hold onto all that paperwork before hitting delete or taking it to the shredder. … Read more
Life Insurance Corporation (LIC) of India is the country’s largest life insurer, providing coverage to millions of policyholders. If you have an LIC policy, it’s crucial to pay premiums on time to keep your valuable coverage active. But what happens if you miss payments or stop paying LIC premiums altogether? There can be serious consequences, … Read more
Insurance companies and banks are both financial institutions, but they serve different primary purposes. Insurance companies provide risk protection by insuring individuals and businesses against potential losses. Banks act as financial intermediaries that accept deposits and make loans. While distinct in function, insurance companies and banks do share some common traits as financial institutions. Let’s … Read more
When you receive medical care covered under Medicare Part B, there is often a difference between the amount Medicare approves for payment and the amount your provider charges for their services. This discrepancy between the Medicare-approved amount and a provider’s charges can impact your out-of-pocket costs. Let’s take a closer look at how Medicare payment … Read more
Your marital status can have a significant impact on your car insurance rates. Insurance companies often charge higher premiums for single drivers compared to married ones. However, there are some exceptions and variables to consider. This article will explain how marital status affects car insurance and provide tips for getting the best rates. How Marital … Read more