Insurance deductible and Body Shop?
I got into an fluke and the body shop guy didnt collect my deductible, he said he will take exactness of it. Now I am in processing of suing the body shop for something that go wrong.Will I get contained by trouble for not paying the deductible? I mean he offered me that I dont hold to pay.
Answers: nickname you insurance ageant at company and tell them that you be there to wage your deductible and the repair shop for you not to that he said that was already taken concern of so you picked up the car and go on only to find out that your are anyone sued, what are you to in this problem, did you sign the invoice? if so what does it vote in fine print, it might come down to you paying it, what it sounds approaching to me that happen be the repair shop was trying to verbs a fast one, not relizing that the insurnace check would be for the amount of repairs minus the dect. so for example if it be 2,000 bill then your dedt. be 500.00 then they one and only got a check for 1500.00 but I would draw from the invoice and talk next to the insurance company and make sure he is not trying to verbs a fast one over both of you, he could own submitted the invoice of 2500.00 got compensated the 2000.00 repair bill and now he is trying to clear an extra 500.00 on you and scaring you beside a law suit.
Its go like this: The body shop charges you a bill, let say, $2500.00; your take off is 500.00; the body shop sends the bill to your insurance company; the ins co pays the body shop 2000.00.
This is why he said you don't have to payment.
Why can't insurance companies dispense out beneficiary information?
My father passed away 3 weeks ago. He had 2 duration insurance policies. We know the amounts of the policies. We know that my stepmom, my brother and I are beneficiaries, but we don't know how much we are all getting. His ample policy is waiting on toxicology and the final death licence to determine eligibility. His small policy is supposed to be sending out info to beneficiaries, but I don't know when. I've called the companies, but they won't explain to me anything, why is that?Also, he did not have a will, and the policies we enjoy don't have beneficiary info contained by them.
Answers: This has to do near client confidentiality. Insurance companies can get sued by the actual benefiary for disclosing this information. Different companies enjoy different privacy policies and depending on where you live, it might be a state/provincial or even locally imposed privacy policy.
The reason they may not present out the info is also becuase they may need to investigate the release. Most insurance policies have exclusions close to the policy won't pay out if you be under the influence of drugs or alchohol and that played a factor. This may be why...they don't want to release any information until they know it is a legal claim.
As answered, confidentiality.
Also, the beneficiary is set by contract, so no will is needed and is irrelevant.
There are different beneficiary arrangements, however. You mention that three of you are beneficiaries. Equal, to be determined. There are PRIMARY and CONTINGENT beneficiaries. The primary one are the first to receive proceeds. Many of the insurance contracts will specify in what share, if more than one is involved. All proceeds are distributed to the Primary first, hence its term. Only if the primary bene pre-deceases the insured, do the Contingent benes come into play. Again, the share is equally to all benes down, unless specific shares are stated in the contract.
Insurance for elder parents?
We are older parents.. 50 and 57 beside a 4 year old son. What types of insurances and other financial precautions do we stipulation to take to ensure that he is capably provided for? We are not legally married,dad have military pension. Neither of us have had a will drawn up on the other hand. We do have other household members who can safekeeping for our son if needed. Any ideas or further info needed? Only constructive, supportive answers needed. Many thanks.Answers: You should build plans now for your estate and the guardianship of your children. Life insurance is a devout idea too, because if one of you dies, the other might not be capable of meet expenses on their own. The concept behind natural life insurance is to help your dependents cope next to the sudden loss of income if you die prematurely. To get the best concerned of insurance at your age, speak with a broker. A broker works near several companies and can determine the best coverage and price. It will save you tons of time within research. To find a broker in your nouns, log onto a website like http://www.lifeinsurancewiz.com and steep out a form requesting a free quote.
You need to speak near a qualified financial advisor.
You definately need a WILL.
You want insurance. Term is always the best track to go. However, at your ages, it will become more expensive.
You also obligation to make sure you hold investments, that way if you do die, you'll be covered by an insurance policy for the departure benefit, and you'll leave a bit savings for your child. This can be turned into a college fund for him/her if you aspiration...THis can be done through a will. Whoever is 50 in your household can acquire a longer term policy, which will be beneficial.
You should speak to an estate planning professional.
A Will is a correct thing to hold, but it may not be the best option. 1) they are public culture and 2) they are contestable in court. If someone happen to be reading the newspaper and see something about you have a Will when you pass away they can show up when they are going through the Will and speak "She told me she was going to afford me 25% of her estate because I was sucha moral neighbor" and it would go to the courts. They might not win, but it will cost money to scrap it in court when that money should rightfully be going to your benefiary. A familial trust may be an option to look at depending on how big of an estate you hold.
A Will is better than nothing and if it's a small estate it's probably sufficient. It will also dictate what happen to your son if you both pass away at matching time. You mentioned you have "own flesh and blood members who can care", but do they know that's the plan? My girlfriends parents died when she be 14 and it was assumed that their aunts and uncles would embezzle care of them, but they couldn't afford it, so she go to foster homes. As above, this stuff can be contestable if it's not a solid plan.If you both pass away, who will lug care of your son? It's uncomplicated to say "neighbour Jane will, I'm sure" What nearly your sons Aunt Betty, that he spends time with on weekends that have grown attached to him? What if she wants custody? Make sure you hold something documented at least. Legal battle while greiving is never something someone should have to move about through.
If you do a Will, do it through a lawyer...Do-It-Yourself kit are cheap, but they aren't always righteous...One of my colleagues clients Will stated "I would like my estate divided equally between my children" After his passing they found out he had an illegitimate son (again...read the treatise, contested the will) and the estate was divided up 4 ways instead of the 3 ways that he in reality intended, becuase of a simple mistake like that. Spend the extra $100 and do it right.
As for the types of insurance. It depends on your budget and what exactly you want it for. If you want it to gross sure your son is taken care of until he is behind the times neough to do it on his own, buy 15 or 20 year Term Insurance...it's meant for a provisional need and will expire eventually. IF you want to use it to label sure your funeral costs and estate taxes are taken care of, buy adjectives life or all-inclusive life insurance.it's designed for perminent needs and will later the rest of your life.
One of other type of insurance you may want to consider is Long Term Care insurance. This is an insurance that will clear sure if either of you is not sufficiently expert to perform the day by day functions of life, you will be compensated a benefit to hire help to give somebody a lift care of you. It's similar to a disability insurance, lone it's not attached to your work or income. The reason this is considerable is as the Baby Boomers age, there may be increased constraint on the health prudence system so you may need to take-home pay more for things that you don't now becuase of the emergency. Also, by having the choice to hire someone to care for you will let go a lot of dignity. No 24 year outmoded wants to own to sponge bath their 77 year out-of-date parent and no 77 year old parent want to be sponge bathed by their kid.
If you consult a lisensed estate planning specialist they will be capable of create a plan for you that will cover all the potential holes or gap. If you can't find an estate planning specialist contact a certified financial planner/advisor and they should be able to guide you within the right direction.
As a general rule couples beside a child should have duration insurance 20 times what their annual income to sufficiently replace loss of income of a bread winner and to aver lifestyle and college plans.