Automatic Premium Loan is a feature in life insurance policies where outstanding premiums are automatically paid from the cash value of the policy to prevent lapse. In order to ensure that your life insurance policy remains in force and you do not lose coverage due to non-payment of premiums, insurance companies offer an option called…
Fee acquisition refers to the process of obtaining ownership or control of a fee interest in real estate or other assets, often through purchase or transfer. In this process, the buyer gains full rights and privileges associated with the property or asset in exchange for payment. Fee acquisition allows individuals or entities to establish legal…
Provision of a contract involves the inclusion of specific terms and conditions that outline the rights and responsibilities of the parties involved. It provides a legally binding agreement between the parties, detailing various aspects of the transaction or relationship. The contract may include provisions related to payment terms, delivery schedules, intellectual property rights, confidentiality, dispute…
It is too late to stop foreclosure once the lender has already sold the property. However, there are steps that can be taken to prevent foreclosure before the sale occurs. Facing a foreclosure can be overwhelming, but understanding the process and acting quickly can help save your home. By exploring options like loan modifications, repayment…
Roll forward is a financial accounting practice to move the ending balance of one accounting period to the beginning balance of the next accounting period. This is done to ensure seamless continuity and accuracy in financial reporting. In this process, all the relevant balances and transactions are carefully reviewed and adjusted to reflect the correct…
A corridor deductible is a maximum amount that an insured individual must pay for covered services in a specified time frame before their insurance starts paying. A corridor deductible is an important aspect of insurance policies as it influences the amount of out-of-pocket expenses that individuals must bear before their insurance coverage kicks in. It…
Increase insurance agent productivity by implementing training programs and providing efficient sales tools and resources. In today’s competitive insurance industry, increasing agent productivity is crucial for achieving business success. Insurance agents play a vital role in driving sales and revenue for insurance companies. However, with limited time and resources, it can be challenging for agents…
Yes, pelvic floor therapy is often covered by insurance. Now, let’s delve into the details of why pelvic floor therapy is important, who can benefit from it, and how insurance coverage works. Pelvic floor therapy is a specialized form of physical therapy that focuses on treating issues related to the muscles, ligaments, and connective tissues…
Insurance generally does not cover breast lift surgery, as it is usually considered a cosmetic procedure. However, there may be exceptions if the procedure is considered medically necessary, such as for women with significant breast asymmetry or those who have experienced breast changes due to weight loss or pregnancy. What Is A Breast Lift? A…
You know if you have gap insurance by checking if it is listed in your auto insurance policy. Gap insurance is an optional coverage that pays the difference between the amount owed on a leased or financed car and its actual cash value in the event of a total loss. Gap insurance can provide much-needed…