Quick answer A dental deductible is the amount you pay out-of-pocket for covered dental services before your insurance plan starts to pay. Deductibles typically reset annually, meaning you’ll start fresh with a new deductible amount each year. Some dental services, like preventive care (cleanings, exams), may be covered at 100% and not subject to a…
Quick answer CPI insurance (Collateral Protection Insurance) is typically required by lenders for auto loans when a vehicle is financed. It protects the lender’s interest in the collateral (your car) if you default on the loan, specifically covering the difference between the loan balance and the car’s actual cash value in case of theft or…
Quick answer A MYGA (Multi-Year Guaranteed Annuity) is an insurance contract offering a fixed interest rate for a set period, with tax-deferred growth. It provides principal protection and predictable returns, making it a conservative option for savings. You typically pay a single premium or a series of premiums. Interest earned is not taxed until you…
Quick answer Clearly state the reason for your appeal and the policy details. Provide all necessary supporting documentation, such as medical records or repair estimates. Be polite, professional, and concise in your language. Reference specific policy clauses or medical necessity guidelines. Keep a copy of everything you send and note any deadlines. Follow up regularly…
Quick answer Gather necessary documents like the death certificate and the policy number. Notify the insurance company as soon as possible. Complete the claim forms accurately and submit them with supporting documents. Understand the payout options available (lump sum, installments). Be aware of potential taxes on interest earned, though the death benefit itself is usually…
Quick answer Insurance payouts are the funds an insurance company disburses to a policyholder after a covered event. The process typically involves filing a claim, assessment by the insurer, and approval before payment. Payouts can be for property damage, medical expenses, or other covered losses, depending on the policy. Understanding your policy details, like deductibles…
Quick answer Dual insurance means having coverage from two different insurance policies simultaneously. The primary insurer pays first, up to its limits, and the secondary insurer may cover remaining costs. Coordination of Benefits (COB) rules determine which policy pays first. Understanding your COB order is crucial to avoid claim denials and unexpected out-of-pocket expenses. Reviewing…
Quick answer Understand your policy and gather all supporting documentation. Contact your insurance company in writing to explain the dispute. Be prepared to negotiate and provide evidence for your case. If necessary, escalate the issue to your state’s Department of Insurance. Consider legal counsel for complex or high-value claims. Know your rights and timelines for…
Quick answer Your out-of-pocket cost for a hospital visit with insurance depends on your plan’s specifics, including deductibles, copays, coinsurance, and network status. The total bill from the hospital can be significantly higher than what you’ll ultimately pay, as insurance negotiates rates. Always review your Explanation of Benefits (EOB) carefully to understand what your insurance…
Quick answer Understand your policy before you need it. Gather all necessary documentation and photos. Contact your insurance company promptly to report the incident. Be honest and accurate when describing the event. Keep detailed records of all communications and expenses. Be patient; the claims process can take time. What to check first (before you buy…