Frequently Asked Questions (FAQ) | Individual & Family Plans

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It generally covers the structure of your home, personal belongings, liability for injuries, and additional living expenses if you're temporarily displaced.

No, standard policies usually exclude flood damage. Separate flood insurance is needed. 

Yes, renters insurance often covers personal property stolen or damaged outside your rental, such as items taken from your car.

Factors include your home's age, condition, location, claims history, coverage level, and deductible size.

Yes, most renters insurance policies include personal liability coverage for incidents like guest injuries. 

Consider increasing your deductible, installing safety features, and maintaining a good credit score.

Coverage varies; some natural disasters may be covered, while others, like floods or earthquakes, typically require additional policies. 

Yes, insurers can cancel policies for reasons like non-payment or excessive claims, but they must provide notice.

Typically, renters insurance covers only the policyholder; roommates usually need separate policies. 

Actual cash value pays for items minus depreciation; replacement cost covers the cost to replace items at current prices.  

Life insurance provides a financial benefit to your beneficiaries upon your death, helping to cover expenses like income replacement, debts, or funeral costs.

Individuals with dependents or financial obligations that would persist after their death should consider life insurance to ensure their loved ones are financially protected.

The primary types are term life insurance, which provides coverage for a specific period, and permanent life insurance, such as whole or universal life, which offers lifelong coverage and may accumulate cash value.

Standard policies may not cover custom parts; additional coverage might be necessary.

Premiums are based on factors such as age, health, lifestyle, occupation, and the type and amount of coverage chosen.

Yes, as the policy owner, you can typically update your beneficiaries at any time by contacting your insurance provider.

Missing a payment may lead to a lapse in coverage after a grace period. Some policies offer options to reinstate coverage within a certain time frame, possibly with additional requirements.

Generally, life insurance death benefits are not subject to income tax; however, estate taxes may apply depending on the size of the estate and policy ownership.

Certain permanent life insurance policies accumulate cash value that you can borrow against, though this may reduce the death benefit if not repaid.

It's a period (typically two years) during which the insurer can review and potentially deny claims due to misrepresentations made during the application process.

Health insurance generally covers doctor visits, hospital stays, emergency care, preventive services, prescription medications, and specialist treatments.

No, dental procedures are usually not covered by standard health insurance and require a separate dental insurance plan.

Disability insurance provides income replacement if you're unable to work due to illness or injury, helping maintain financial stability during such periods.

Short-term disability insurance covers a portion of lost income for a limited period, typically up to six months, while long-term disability insurance provides benefits for extended periods, potentially until retirement.

Work-related injuries are typically covered by workers' compensation, not standard disability insurance policies.

Many individuals with health issues can still obtain disability insurance, though premiums may be higher, and coverage exclusions may apply.

Consider your budget, medical needs, preferred healthcare providers, coverage options, premiums, deductibles, and out-of-pocket costs.

Yes, most dental insurance plans cover preventive services like routine cleanings and examinations, often at low or no cost.

The elimination period is the time between the onset of a disability and when benefits begin; longer periods may result in lower premiums but delay benefit payments.

It depends on your employer's policies and the length of your leave; some employers may continue coverage, while others may not.

Estate planning involves organizing the transfer of your assets after death, ensuring your wishes are honored, minimizing taxes, and providing for loved ones.

Key documents include a will, trusts, durable power of attorney, healthcare proxy, and living will.

A will outlines asset distribution after death and may go through probate; a trust can manage assets during your lifetime and often allows assets to bypass probate.

Probate is the legal process of validating a will and distributing assets. It can be avoided through strategies like establishing trusts and designating beneficiaries.

Individuals seeking to manage assets efficiently, provide for minor children, or avoid probate may benefit from a trust.

Review your estate plan every three to five years or after major life events, such as marriage, divorce, or the birth of a child.

A durable power of attorney designates someone to handle your financial affairs if you become incapacitated.

A healthcare proxy appoints someone to make medical decisions on your behalf if you're unable to do so.

Strategies include gifting assets during your lifetime, setting up trusts, and taking advantage of tax exemptions.

Without an estate plan, state laws determine asset distribution, which may not align with your wishes.