{3:15 minutes to read} Most people will acquire insurance, either for themselves or their business, at some point during their lifetime. In general, there are two broad categories of insurance: first-party and third-party insurance. Within these two categories,...
{3:40 minutes to read} A “buyout” occurs when an insurance company gives the insured a lump sum of money in exchange for either the claim or the policy. An insurance company buying out a long-term disability policy happens somewhat frequently. On the other hand, the...
{3:56 minutes to read} Rescission is a legal term which means to cancel, revoke, or repeal a law, order, or agreement. If an insurance company rescinds your policy, they are, in effect, saying: “This policy never should have been issued. We are taking back the policy...
