Always do your research
Insurance policies can contain many clauses and exclusions that could prevent you from actually using your insurance in an emergency. For example, some policies won’t allow you to receive a payout if you have a pre-existing medical condition or are over a certain age. Others won’t cover you for certain health-related issues such as cancer, heart attack or stroke.
Make sure you qualify to submit a claim and know what you’re covered for before signing up. If you have any questions about what’s included, contact your loan insurance company directly.