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Those of us who have lost a job that included health insurance have had the opportunity to take advantage of the Consolidated Omnibus Budget Reconciliation Act (COBRA), which guarantees the ex ...
COBRA, the federal program that allows people who have lost their jobs to continue paying for their former employer's healthcare plan, is free through Sept. 30. COBRA is free for six months under ...
Among the "qualifying events" listed in the statute are loss of benefits coverage due to (1) the death of the covered employee; (2) an employee loses eligibility for coverage due to voluntary or involuntary termination or a reduction in hours as a result of resignation, discharge (except for "gross misconduct" [4] [5]), layoff, strike or ...
Variable life policies: These have a guaranteed death benefit and cash value—but you can invest the cash value to earn higher returns. The investments do come with risk—and may even lose value ...
Illustration of the partial payout of Sum Insured against probability of occurrence. Condition of average (also called underinsurance [1] in the U.S., or principle of average, [2] subject to average, [3] or pro rata condition of average [4] in Commonwealth countries) is the insurance term used when calculating a payout against a claim where the policy undervalues the sum insured.
To qualify, the loss must not be compensated by insurance and it must be sustained during the taxable year. If the loss is a casualty or theft of personal property of the taxpayer, the loss must result from an event that is identifiable, damaging, and sudden, unexpected, and unusual in nature, not gradual and progressive.
Expired or lapsed policies: If your life insurance policy is no longer active when you pass away, your beneficiary will not receive the death benefit. Term life insurance, for example, covers you ...
Unemployed workers who have been taking advantage of a federal subsidy to help them pay for continued health care coverage will soon get an unwelcome reminder of how much that insurance really costs.