Does the health insurance policy (GIC) amount lapse, if not used?
A. Yes, it does. The premium that you pay covers the risk for the year and nothing more. I realise that you might be comparing this with the life insurance policies where in there is a maturity value of the policy. But unlike life insurance, herein you dont get anything in return on maturity of the term.
Related Questions
- I am married to another Nassau County employee and we do not have any children. Can we get two individual health insurance policies instead of one family policy?
- Where else are cisterns used in the country? How progressive is the Triangle in terms of cistern use/policy?
- Can a Life Insurance Policy be Used as an Investment?
