This is life insurance that pays a predetermined amount (face value) at a fixed price (premium) for a designated period of time (term). It generally protects against any cause of death. It is designed as an affordable option for financial protection during a time of vulnerability. A family with young children may choose term life to offer extra security until their children are young adults.
This type of policy is life insurance that only pays if the cause of death is the result of an accident. Although there is no protection against death from illness, it offers affordable financial security in the event of an untimely accidental death.
This insurance pays directly to the insured for an unanticipated stay in the hospital. It pays the selected amount for each day of hospitalization. The money can be used to help the insured however they choose.
That depends on the specific policy language. Some policies have no restrictions, some exclude coverage, and others provide coverage with certain limitations. A careful review of the specific policy is required to determine what is covered.
ACA stands for the Affordable Care Act, signed into law March 2010. All ACA-compliant health insurance includes at least the same 10 mandatory essential health benefits. These insurance plans cannot deny coverage to someone due to pre-existing conditions.
There are many types of liability insurance. General liability insurance protects you against negligent acts to others. Typically, this is bodily injury or property damage, but liability can also extend to personal and/or advertising injury (libel or slander) and more. Professional liability insurance protects against negligence derived from professional services. Product liability protects manufactured items or finished goods.
This is a type of professional liability insurance typically associated with healthcare providers. Lawyers, accountants and other professionals use the same type of policy, often referred to as Errors and Omissions or simply Professional Liability.
Insurance is available to protect against this type of crime. Cyber Liability insurance can help with the cost to recover lost data, restore a computer system, notify clients of a data breach and other associated expenses. It can also mitigate loss of income and damage to business reputation.