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What is a retrocession in insurance?

Retrocession — a transaction in which a reinsurer transfers risks it has reinsured to another reinsurer. What is risk in reinsurance? Definition: Reinsura...

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Knowledge Base

Latest insights and tutorials from the The Daily Horizon team.

How many days do you have to cancel an insurance policy?

You may want to cancel an insurance policy if you have just bought it and have changed your mind. By law, you have a minimum 14-day cooling-off period dur...

Does term life insurance end at 70?

While term life insurance is the most common life insurance on the market today, it is not the best option for seniors over the age of 70. When you obtain...

Which program is designed to provide health insurance to the elderly and disabled?

Medicaid is a joint federal and state program that provides free or low-cost health coverage to millions of Americans, including some low-income people, f...

How does insurance work if you wreck your car?

Typically, if you get into a car accident, the at-fault driver’s insurance pays for the damages and injuries. If you get hit by a driver with no insurance...

What is a 25 50 insurance policy?

So, for example, if you are quoted a 25/50 limit for bodily injury, it means that the insurance policy will cover up to a maximum of $25,000 per person in...

How do I prove I have life insurance?

There is some sleuthing you can do to help you find out if there is a policy in place: Obtain the death certificate. Talk to family and friends. Search pe...

Do international students get a National Insurance Number?

There are a few conditions depending on where you are from regarding UK employment; but all students who are not from the UK will usually need to get a Na...

Are insurance rates regulated?

Insurance Rates are Regulated by the State Insurance companies are regulated by the states. Each state has a regulatory body that oversees insurance matte...

How often is term insurance paid out?

This long-term amount can be paid on a monthly, quarterly, or annual basis. Life Income with Period Certain – One of the big disadvantages of a straight l...