What are third party claims in a life insurance policy?
Answers: No such horse, as far as I know.
A credit card company might tell you they're going to attach life insurance benefits, but they can't, unless the estate is the beneficiary. And even then, it's not really an "attachment".
"Third party" generally means liability, as in, someone not involved in the policy (not the owner, the insured, or the beneficiary). Life insurance isn't something you can "sue" someone to get. It pays the named beneficiary - the second party. Not some unmentioned, unnamed third party.
One thought:
If the insured used the life insurance in order to obtain a business loan, they may have a collateral assignment on the policy, so that the bank would receive the insurance proceeds first to pay off their loan, with the balance to the insured's beneficiaries.
Another thought:
If your policy is setup correctly, the cash values may be sheltered against third party claims in the event of a lawsuit, or may be subject to third party claims if not setup correctly.
If you stop paying your motor insurance, the company cancel it, right?
i talked to the agent beforehand and asked if i stopped paying, what will transpire to the insurance. and he said the insurance policy will be canceled automatically. i have a 6 months policy next to progressive insurance, but i stopped paying it after 4 months. and then today the the collection call and said i owe money to progressive insurance and he also said once i pay for it, the coverage will verbs. but my question is, should i recompense for it? i sold the car thats why i stopped paying it knowing that it will be automatically cancelled.Answers: Yes, but they hold to follow the state law within how they can cancel it.
When it cancel, Progressive charges a "cancellation fee" of usually $50.
So if your money runs out Jan 1st, but the state say they have to administer two weeks written notice beforehand cancelling your policy, you still OWE them for the time they covered you - even if you didn't wage enough to save the policy active. PLUS the withdrawal fee.
Yes, you should earnings it - because eventually they'll haunt you until you do - it's an unpaid debt.
If you be PLANNING On cancelling the policy, you should enjoy talked to your agent, so you could catch it cancelled in the most cost impressive way. Instead, it merely sounded like you be looking for free insurance.
Do not pay them. You sold the vehicle silly.
The person you sold it to will immediately get insurance for himself.
Call collection and bring up to date them you no longer have the motor. and you cancelled the insurance.
(Progressive is a sneaky company anyway) Don't let them ruin your credit.
Well, a couple of things you might want to consider.I've have good luck here...http://car-insurance.online-tips.info/ca...
About healthcare contained by US. How to protect my relatives from human being uninsured if my husband is out of situation?
Currently our insurance is Blueshield. If my husband is out of job we'll lose the insurance. Is within anyway to keep insured?Answers: Anyone coming past its sell-by date of group medical insurance, must be offered COBRA. It will be more expensive than the premiums paid presently, but you can still have coverage minus having to shift thru underwriting.
contact Human Resources at your husband's work. They can present you information on COBRA. Also, they are the ones who will provide you with the COBRA paperwork.
also, if you and your household members don't hold any big medical history, you can apply for an individual family policy next to Blue Shield or any of the other medical insurance carriers surrounded by your state. Find an agent who specializes in vigour insurance to help guide you thru the process.
when the COBRA expires (18 or 36 months subsequently, depending on the reason for termination), if you hold kept COBRA active (i.e., remunerated all the premiums), you can apply for a HIPAA policy. Each heatlh insurance shipper is mandated by Congress to tender at least one plan to nation coming off of COBRA. The judgment being that too heaps people couldn't take coverage after their group coverage ended.
If your husband loses his living, as long as his employer is subject to the COBRA law, they will proffer to let you verbs the plan, AT YOUR COST, for up to 18 months.
That's really the ONLY way to keep hold of from being uninsured if he loses his post. So be sure to build up that savings explanation, because the average family insurance plan costs $1,000 a month. Or more.
I've hear of some companies trying to fill within this niche of "short-term" insurance. I'd look the internet in tally to learning just about COBRA