Has anybody hear almost easter/western method of accounting for revenue within the insurance industry? Thanks much
Question:
Answer:
The only piece I've heard just about is pooling across geographic regions to spread the risk. That's east-west (coast) .
Can an insurance company ask if one have criminal convictions?
Question:
i HAVE MADE A CLAIM ON MY HOUSHOLD INSURANCE FOR WATER DAMAGE. IS IT CORRECT THAT THE COMPANY BE ALLOWED TO ASK ME IF I HAVE ANY CRIMINAL CONVICTIONS. THIS IS THE FIRST CLAIM IN 10YRS.
Answer:
They can ask whatever they want. You can disallow to answer. However, criminal convictions are public record so if they really required to find out the answer, they could whether you tell them or not.
yes they can ask! they can ask for lots of different information!
Absolutely, they can ask. And it's ALSO a quiz on the original application. Depending on the type of conviction, it could be grounds for invalidation of the policy, if you misrepresented it on the application. That would mean, the claim isn't covered.
yes, they can ask. They asked when they bought the policy, and they can ask again. Besides, beside the click of a mouse they can find out anyway.
If you have a criminal conviction, voice for insurance fraud, and the insurance company finds out about it, it may be adequate to rescind the policy (make it as though they never had written it surrounded by the first place). Other convictions may not be as important to the claim.
May as resourcefully tell them, voluntarily. They will look harder at you if you don't agree it and they find out on their own. How can they believe anything you say, if you pull the wool over your eyes about that?
Yes they can. The grounds they ask when you make a claim is to ensure that they hold all correct details on database and there are no non-disclosures (details that you bungled to tell them when you set up your policy).
The explanation they ask this question is because it can involve a highly developed risk to them. For example if you had a conviction for fraud, they are reluctant adopt your application for policy due to possibilities of fraudulant claims being made.
The dealing decided by the insurance company depends on the humour of the conviction and how much of a risk the insurance company feel it impose. If a serious conviction they could void your insurance policy ab initio (from the beginning) within which case adjectives your previous premiums would be refunded to you (after deduct any previous claims already made). If a minor conviction they may choose to ignore it or freshly make amendments to your policy. These amendments could be to increase policy excess, apply a premium loading, etc.
Insurance companies however do not hold access to your criminal convictions as this would be a breach of Date Protection. However if they have any concerns they can request that you provide them beside a certificate of criminal convictions to show your criminal journal. If you refuse to provide this, later they may again choose to cancel your policy.
* It is other best to provide your insurance with adjectives info they require as although it may mean they do not adopt you for insurance or your premiums increase, this is better than making a large claim and later finding that due to a non-disclosure, your policy will be cancelled and claim will not go ahead going away you with a voluminous bill for the damages.
If you fail to report an insurance company anything that might affect their risk, even if they have not asked for it, your insurance is null and void.
yes, but usually they don't unless they suspect fraud.
yes they can
TV Advert Liverpool Victoria?
Question:
Does anyone know the name of the entertainer in Liverpool Victoria's advert, where on earth he is doing the gardening. I know him from a long time ago in films and TV, but his term escapes me.
Answer:
I have NEVER see a TV advert for Livepool Victoria, but there is a magazine advert - but it is in recent times words
Not sure but is it Gareth Thomas
I own a energy insurance exam and I smoked a few cigarettes...?
Question:
I quit smoking a few years ago but I recently lost my mother and enjoy smoked a few cigarettes (like 6 cigarettes over the last 2 weeks). I own to take a blood testing for for a new vivacity insurance policy and I'm worried that nicotine will show up in my blood resulting within much higher "smoker" rates. How long should I dally to take the blood testing?
Answer:
Can you get away next to not telling the truth on your insurance nicotine exam if you smoke?
This is not the right thing to do, it is best to let somebody know the truth on your insurance nicotine test. Although most evidence of nicotine or continine is excreted or removed from your system inwardly 1-2 days (usually all signs are gone in 7 days except from your hair - they don't interview your hair).
The life insurance company can access information from the MIB - Medical Information Bureau from adjectives member companies. In enclosure they ask you on the application. The application becomes part of a set of the life insurance policy which is a officially binding contract. If you lie on the application you enjoy misled the insurer, and perhaps committed fraud.
What if the insurance company finds out you smoke?
If the insurance nicotine check comes back positive for smoking the smoker vivacity insurance company can either reject your application, tender you a revised rate for smoking, and/or notify the Medical Information Bureau to keep on database.
What happens if they find out I smoke after my energy insurance policy is in effect?
First, in that is a clause in your energy insurance policy named the "Incontestable Clause". Incontestability money with respect to statements made contained by the application for coverage the life insurance policy cannot be contested after it have been contained by force for a specified period of time, usually two years.
However, if the energy insurance company finds out you smoke within the first two years of the policy they may any cancel the policy, adjust your rates to smokers rates and require transmittal of the difference in rates going put money on to the inception date or start of the policy.
Can the life insurance company decline to foot my beneficiary if they find out I smoked after I have passed away?
Again, this go back to the issue of Incontestability. If you slip away away within the first 2 years of taking out your time insurance policy and the cause be smoking-related such as lung cancer, emphysema or heart disease they may contest the policy. The insurer can decline to pay the go benefits to your beneficiary if they can prove you smoked.
If you pass away more than 2 years after the start of your policy they may still fray the case and decline to take-home pay if your death be smoking-related. It depends on the insurer's position on this issue and how soon after the 2 year period you passed away.
Imagine taking out smoker life span insurance and then your spouse and kith and kin receive no benefits (except for the premiums you paid the insurer, which may or may not be returned by the natural life insurance company after your death) when they need them most. If you prepare yourself and thieve the life insurance nicotine check and you pass its up to you.
Just be aware of the effect of your judgment and remember, when you answer a question on the application for a vivacity insurance policy it does become a part of a properly binding contract.
I hope that helps! Best of luck to you.
P.S. If you want, you can look into getting Life Insurance near No Medical Exam and No tests for smoking - https://insurance.hsbcusa.com/quotal/sim...
I honestly don't know how long tobacco stays surrounded by your system. However, I can't imagine that smoking 6 cigarettes contained by the last two weeks would show up any more than second appendage smoke would if you hung out in a slab or something the night beforehand the test.
Stop smoking. I get the drift what you're going through but smoking isn't going to bring your Mom back. I started smoking again when I lost my husband and adjectives I did was put myself through have to quit all over again. Looking backbone on it now, I wonder what on dirt I was thinking? It didn't really serve and I just have to quit again. And that's always a dull pain.
Good luck and I'm sorry for your loss. Hang in in that.
1st, sorry for your loss. I understand how difficult it is.
Unfortunately, nicotine does stay contained by the system for a while. How long I am not sure. If I recall, its a couple of weeks.
Don't lurk, get the existence insurance now. If you stop smoking presently and never smoke again for the next 12 months, you can try to adaptation your rate from tobacco-user to non-tobacco user. Ask the insurance company if they can do that.
If the premiums going to be too high for you after the blood exam, you should lower the coverage that you can afford. Then in 12 months (as long as you don't smoke), you can adaptation the policy to get a better rate and conceivably afford a more coverage. Though, you will do another medical test to see if you are insurable and qualify for a better rate.
so stop smoking!
The cigarettes will probably be picked up contained by the tests. They tryout for more than nicotine as there are tons of different chemicals contained by the cigarettes. Some of theses chemicals finishing in your system for up to a year. Take the check now. Pay what you own to for the coverage and get retested within a year. Stay away from the cancer sticks.
You can always convert the policy after 12 months of tobacco free. You might not even enjoy the tbacco product show in the blood. It depends on how long it have been and how much is in attendance. Don't put it off because you never know what will be going on to you.
I am sorry about your Mom...
Nicotine usually stays in the bloodstream for 72 to 96 hours. Trace residues can remain for up to a year.
You could dawdle a week, then catch the exam if that's what you choose to do. But please know that not disclosing your cigarette usage is a material misrepresentation on your application, and could possible front the insurer to void your contract anytime within the first two years the policy is in force. It isn't predictable that they would find out - even if you passed away - but it's important for you to choose knowing adjectives the facts.
If you do get smoking rates the insurer will commonly give you lower rates after a year of person smoke-free.
Best of luck as you try to eliminate the smoking again, and as you jump through the grieving process.
i asked my agent the same cross-question since i recently stopped, he advise waiting 6 months after the last cigarette.
They can put in the picture for months after you smoke due to the chemical testing they do. If I be you I would cancel the appt. & be in motion with a no medical exam life span policy or wait a few months & not smoke. You may want to try a website that compares multiple companies at once to gain you the best price. I am paying less than 1/2 after I did.
Go to: http://www.insureme.com/landing.aspx?ref...
Take guardianship,
Casey
What is the first name of top officer (CEO or Director) for AARP's Prescription Plan?
Question:
Answer:
AARP's Rx plan is handled by United Healthcare. United Healthcare's CEO is Robert J. Sheehy.
Heck, I don't even know which CARRIER they use for their recommended prescription plan! They don't RUN it, you know, they put it out to bid every year, and jump with the lowest bid.
Will I lose my No claims Bonus?
Question:
My Insurance ran out within October and I havent got round to sorting it until presently.
I had 4 years no claims bonus when it run out, does this still stand with the latest insurance company even though there is a period of 2 months?
Answer:
If you are switching companies, does the new company give this bonus? Sometimes if you stay with one and the same company, you can get your report reinstated.
you have 2 years until that time it expires
you will be OK. i think your no claims is in that until you have a claim. not on when you be last insured
i dont know because of the outlet
did you protect your no claims - i know it costs more but its worth it
the only passageway you should get away near it is to renew with another company but as in attendance is a database for all insurance policies you better be honest nearly the two months lapse.
any false info could jeopardise any policy
Yes you will lose your non claim bonus.!
No don't worry it's adjectives on computer anyway.
The easiest thing is to stay near previous company but negotiate otherwise you'll have to loaf for certificate from prehistoric company to send to topical one.
request proof of no claims from last company and come up with of a good explanation to not be insured 2 months, maybe savin for a motor or u went overseas beside work or something and any reputable insurance company shud allow your discount to continue
If you own kept your old tag of insurance and the following renewal document which your insurers should of sent you just past it was due, that should be plenty proof.
Both these documents have your proof of bonus on, which the hot insurance company will be able to trace on a information base or confirm near your old insurer.
You will also enjoy up to 2 years to reinstate the insurance from expiry. You can only loose the bonus if you enjoy enough accident decreasing the bonus (look at the policy terms) or if you don't renew within the 2 years.
Having worked for an insurance firm (until around 4 hours ago...ho ho humbug to the evil bosses firing race at xmas)
I can advise you on a few things. First, check what type of policy it is - it should start near a few letters, usually 3. Dependant on this type, in that may be a different way that No Claims Discount (NCD) is calculated. On some policies, it is cap at 3 or so years, with respectively claim reducing the NCD by 1 year. On others, there is a panama of 5 years and one claim will wipe out the entire discount.
As far as I can read into it though, within my experience NCD has be brought forward from another policy, if no claims have be made on that specific policy (for example in home insurance, it is split into both Buildings and Contents. A claim on the Contents would affect the Contents NCD but not the Buildings NCD.
Different insurance companies work surrounded by different way. Have a word next to them and see what they say, after adjectives, they probably know best. And if you HAVE lost it, then so be it.
Hope that help.
you are in luck,if renew presently you will still have your No claims Bonus
no you will not lose your 4year NCB for 2 years of late send your proof to your modern company
no it's ok
Anytime you have a distance of more than 30 days, its as if your startin all over again.Those 4 years of prior insurance next to renewals gave you the best rate, immediately its as if your beginning as a up to date driver. I dont know what company you had, but if you tried to switch to a in the middle decent company similar to State Farm or Allstate, its going to be costly. Normally you start to get the best rate again after 1 year short gaps.
Nope, not solely will you not keep your "no claims bonus", but beside a lapse of 30 days or more, you'll see a significant increase in your rates, and if this is auto insurance, *might* be classified as elevated risk. Your expired carrier will PROBABLY not want to clutch you back, but you'll hold to call your agent to be sure.
Usually speaking you want continous claim free insurance, but in abundant cases you can still get the best rate if you can prove you be in a "no-need" situation, approaching not owning a car. The tear you speak of could hurt, but I have see some shady stuff in my days and wouldn't be surprised if you be able to find a company that isn't checking for prior insurance, etc. Many insurance carrier use what we call CLUE, vitally a claim and insurance database that could show losses and lapses. Best counsel, get competence insurance from a reputable company and set up an auto-pay account from your checking statement.
yes i think it will, but one phone ring wiil soon tell you
Can you buy legally recognized insurance to abet you contained by luggage you obtain sued?
Question:
I am starting a small business and know there are risks of getting sued for crazy reason. Please share any details! THANKS!
Answer:
If you incorporate the business, you will protect your personal assets from lawsuits. If you are a sole proprietor, your personal assets are on the line so if you can, incorporate. At smallest that way, if you be to get sued, your personal assets are protected.
Normally, empire in business buy liability insurance to protect them. Talk to an insurance agent roughly what types of insurance you will need for your business. If you enjoy any employees, you will necessitate Worker's Compensation. If you have tools or inventory, you'll entail fire and theft, etc. You'll also necessitate liability and that could take assorted forms. If you are manufacturing a product, you'll call for products liability. What you'll need surrounded by the way of liability adjectives depends on what the business is that you are doing.
Your best bet would be to talk to an insurance agent.
You can buy officially recognized insurance but all that does is provide an attorney to keep you. It doesn't pay the personage that sued you if you lose the lawsuit. Liability insurance would pay the claim (assuming it is a covered peril e.g., you weren't doing something illegal) and would also preserve you too.
I have see prepaid legal plans, but surrounded by my experience they tend to be staffed with bottom-feeder attorneys. You may be better bad to form a relationship with a reputable local attorney that you can trust, and retain him or her as needed.
It's not permissible insurance you want, but BUSINESS insurance. General liability is what defends you, if you take sued. Now, it doesn't cover EVERYTHING, but it's pretty broad. There's also EMPLOYMENT liability, that would cover a discrimination suit from an member of staff. And if you have personnel, you'll need workers compensation and employer liability (on like peas in a pod policy). Suits related to the use of an auto would require BUSINESS AUTO coverage.
So it's not legal insurance, it's basically about everything else. Prepaid decriminalized doesn't cover lawsuit kinda stuff.
Talk to your insurance agent. There are all kind of business insurance programs out there. It adjectives depends on the business and how much coverage you are looking for. Liability insurance is something you need to look into.
First of adjectives, insurance will usually pay your cost of defense if you seize sued for something covered under your policy of insurance. The switch is to make sure you don't hold a "hole" in your insurance coverage. The insurance company doesn't supply you a choice as to whether or not they pay a claim presented, so they agree to provide you beside defense if you are sued for something covered under your policy.
Talk to an independent agent surrounded by your area, obtain good coverage, and afterwards don't worry roughly speaking it.
Don't buy Pre-Paid Legal garbage. You requirement business insurance. Definately meet near an insurance professional to discuss the type of work that you will be doing and how to protect it.
Well, you have be given some incorrect information. I am a prepaid legal associate and we use simply the top rated attorneys contained by each state. you would resembling to take a look at our service, they can back you. We have a small business plan and ethnic group plans. Let me know and I will send you our website.
they enjoy some
Does husband get hold of Medicare benefits if wife is eligible due to disability?
Question:
I will be eligible for Medicare in Feb 2007 due to disability. I hear my dependent children will also be covered under this vigour plan. Will my husband be covered too? He is self employed and does not have medical coverage. When I be employed I was the policy holder for our domestic and he received medical benefits through me from my employer.
I read somewhere that he is covered but someone else is saying no.
What do you reckon?
If yes, would it include prescriptions?
Thanks
Answer:
When you become eligible for Medicare, it will only be on you. No one else, and it does not include prescription coverage. You will inevitability to look into getting the Part D prescription drug coverage. Contact you state ship for more info. Or go to www.medicare.gov
No. My husband is on medicare and I am not covered.
if you want go security you own to check more info
http://www.freewebs.com/getinsurance...
No, medicare is not a family plan it is written for individuals. Medical can be extened to family circle members. If you hold children 18 and under residing within the household without insurance, the state will provide coverage for them. Please telephone call your local Social Services Department (Welfare) for more information. It doesn't hurt to call and find out or at smallest get the paperwork going to find coverage in effect for you come February 2007.
Cheap saloon insurance within Highland, CA?
Question:
Um i live in highland ca 92346, im 18 masculine just get my license 1 month ago, jux bought a 96 honda accord, anniversary edition. 4 doors, 150 k, excellent condition, which coupé insurance is the lowest for a guy my age?
Answer:
Unfortunately, for an 18 year old mannish, insurance rates are going to be fairly illustrious until you reach age 25. If you still live at home near your parents, your best bet would be to add your vehicle to their policy, although, if the vehicle is contained by your name alone, the insurance company may not do that. My son have to put his car surrounded by my name to bring coverage under my policy but it save him quite a bit contained by premium.
Even if you can't add your motor to your parents policy, you might want to call impossible to tell apart agent they use since he/she already knows your family unit.
Or, try GEICO or call a local State Farm, Allstate, Farmers or AAA agent. Or move about on line and G00GLE insurance quote. You'll find a bunch of different quotes you can go and get on line. I've found though, that you're better rotten talking to an agent surrounded by person though afterwards getting an on line quote.
Did you wage cash for it or acquire a loan? If you paid bread, then you could pocket just liability coverage. If in attendance is a loan, you need to own full coverage. Here is a list of agents within California sorted by zip code: http://www.insuremyvehicle.com/states/ca...
You may want to try a website that compares multiple companies at once to return with you the best price. I am paying less than 1/2 after I did.
Go to: http://www.insureme.com/landing.aspx?ref...
Take vigilance,
Casey
just compare
My boyfriend newly wrote his motor rotten, how long will it pilfer to carry the insurance?
Question:
Answer:
You will get it inwardly 20 days. To know more you can visit
http://newinsurancetips.blogspot.com...
I believe tat the decree is 30 days max. Check with the Insurance Commissioner for your state.
where on earth can i find types of condition insurance coverage?
Question:
Answer:
I'm wondering what you mean by "types" of form insurance coverage. Depending on your answer, there is closely of information that you could be asking for!
I'm a writer for a large insurance site call InsuranceGuide101.com. I've written on almost every type of insurance you could imagine -- and probably a few you couldn't. Since I'm not affiliated near any insurance company, I tell you the straight story -- and I don't tend to verbs punches. The information is written in comprehensible English, so you don't have need of a legal scope. And the site has a few in-depth articles on specific topics (like how to save money on form insurance) that can help within your search for the right coverage.
if you want home base job
http://www.freewebs.com/homesjob...
if you want time security you own to check more info
http://www.freewebs.com/getinsurance...
if you want health info
http://www.freewebs.com/healthcareinfo...
Is this for you as an individual or as a company?
Health Insurance premium and coverage comparisons is available on rank or you can contact a local insurance broker or insurance company; i.e., Kaiser, Blue Cross, etc.
Good Luck to you!!
There's a company out there that help people who do not enjoy and need affordable strength benefits. It includes regular office visit, any specialists and even pre-existing conditions. It basically includes everything you have need of help paying for. Their medical plan includes dental, phantasm, prescription and chiropractic benefits as well. There's no lofty premiums, deductibles, co-pays, waiting periods, claims forms or anything approaching that at all. They can reclaim you up to 80% on your out of pocket expenses for a very small levy every month. It could end up in your favour you a lot of $$ over traditional insurance. Try this website and you can check out the specifics and providers contained by your area. http://www.everyonebenefits.com/40424269... If your provider isn't on near, he can be added. They are a wonderful company and are members of the BBB. I own benefits through them as well. Hope you find what you involve. Please email me if you have any question, and I'd be happy to support you if I can. Best of luck.
Anyone own information on fine form insurance?
Question:
Answer:
You may want to try a website that compares multiple companies at once to get you the best price. I am paying smaller amount than 1/2 after I did.
Go to: http://www.insureme.com/landing.aspx?ref...
Take care,
Casey
"Reasonable" is contained by the eye of the beholder. If you're under 30 & nutritious, expect to pay around $250 a month, vary geographically. If you're 65 with a ton of strength conditions, $1,000 a month, with no coverage for pre-existing conditions.
You'll have need of to contact a local, independent agent for quotes. Or get it through your employer. If your employer doesn't present it, find another job.
Before you pick a plan, settle on what is important to you surrounded by a plan - low co-pay, low deductible, low monthly bill. Changing one of these factors will effect the others. Here is a righteous comparison site: http://www.findlocalinsurance.com...
The first question is What state do you live within. Each insurance company will have different rates depending on the state and even the fastener code you live in.
Affordable depends on what you know you can budget. I would determine what you know you can afford to rate with no problem. Then after determining what you afford to spend start looking for plans.
There are a few companies similar to Anthem and UniCare that are offering limited pay envelope plans. They work the same as a traditional plan except that hold out caps on guaranteed expenses. The result is a lower cost to you. Health Insurance is not an easy item to shop for. If you've been looking for a while you've discovered in attendance are several options and price ranges available.
If you live contained by Indiana, I would be able to oblige you find a program. However, if you live i another state I would suggest working with a independent agent that have at least three companies they work next to. You could shop online but unless you know what your looking for you could end up buying a plan that does not cover the things you entail.
If you have any question you can ask them through my website listed within sources.
How to solve the optimal replacement policy ?
Question:
in the corporate nouns
Answer:
Material regarding insurance can be downloaded from the www.poonam.reliancefresh.info
www.reliancelife.reliancefresh...
Every company have some advantages and somedisadvantages. But insurance plans are same as per govt. guidelines ( IRDA ). Premium may be differ from one co. to another but it as not more than 1% to 2% on depending on plan to plan. if you you some insurance plans as given below , you can understand that the makeshift plans are same in adjectives co. but name of the plan is different within all co, but objects are same as per plans . some describe of plans are as follows :
COMPANY NAME ( (ENDOWMENT PLAN )
ICICI Prudential Life Insurance
1. Save 'n' Protect
2. Cash Bak
3. Secureplus
4. Cash plus
TATA AIG Life Insurance ,
1. Assure 21 money saver
2. Life Plus
3. Shubh Life
4.Assure Security & Growth
AVIVA Life Insurance,
1. Wealthplus/ Easy Life Plus
2. Lifesaver
Birla Sunlife Insurance,
1. Flexisave plus
2. Flexicash
3. Flexi Long Term Saving Plan
4. Life Companion
5. Flexi Access Money
HDFC Standard Life Insurance,
1. Endowment Assurance
2. Money Back Plan
Bajaj Allianz,
1. Invest Gain
2. Cash Gain
Max New York Life Insurance,
1. Endowment 60
2. Endowment 20
3. Lifegain plus
SBI energy insurance,
1. Sudarshan
2. Sanjeevan Supreme
3. Money back plan
LIC,
1. Table 14
2. Table 48
3. Jeevan Shree
4. Jeevan Sathi
5. Jeevan Mitra
6. Jeevan Samridhi
7. Bima Gold
ING Vysya
1.Reassuring Life,
2. Maximising Life (Money Back) Plan
3. Maximising Life (Money Back) Plan
4. Powering Life (Limited Premium Paying Plan)
Om Kotak Life,
1. Kotak Capital Multiplier Bond
2. Endowment Plan
3. Money Back Plan
COMPANY NAME OTHER PLANS
ICICI Prudential Life Insurance,
TATA AIG Life Insurance,
1. Health Protector
2. Health First
Birla Sunlife Insurance ,
1. Medicare
2. Woman First
3. Bima Kavach Yojna
KAJAL Allianz,
1. Health Care
2. Keyman Insurance
Max New York Life Insurance ,
SBI vivacity insurance,
1. Keyman Insurance
COMPANY NAME
(WHOLE LIFE PLAN )
1.ICICI Prudential Life Insurance ,
Life Time Premium Life
2.TATA AIG Life Insurance ,
1. Mahalife
2. Mahalife Gold
3.AVIVA Life Insurance,
1. SaveGuard
2. Lifelong
4.Birla Sunlife Insurance ,
1. Flexi Lifeline
5. HDFC Standard Life Insurance ,
1. Whole of life
6. BAJAJ Allianz ,
1. Lifelong Gain
2. Life Time Care
7. Max New York Life Insurance,
1. Whole vivacity (participating)
2. Whole life (non-par)
8.SBI life span insurance ,
9. LIC ,
1. Jeevan Anand
10. ING Vysya ,
1. Fulfilling Life
2. Rewarding Life
You can understand that intention of plans are same in one categary while baptize of the plan is different in different insurance companies.
For detail you can call in following websites :
http://www.poonam.reliancefresh.info...
http://www.reliancelife.reliancefresh.in...
http://www.kajal.reliancefresh.info...
http://www.redfort.reliancefresh.info...
http://www.joginderkathuria.ignou.info...
Why would the optimal replacement policy necessitate to be "solved"?
My mother have a duration insurance policy on my son; what happen to the policy if she dies previously he does?
Question:
Will the insurance company refund the money compensated in to her estate?
Answer:
No...you enjoy the option to verbs paying the premiums or let it walk.
Yeah,. what she said,..
so kill your son first,. later her... :)
The life insurance policy is written on your son. You can verbs to pay premiums on the policy but you should check to see if at hand are any stipulations in the insurance contract contained by the event your mother does pass away. You can also contact the insurance company direct regard to any refund. Insurance Company's guidelines differ from company to company. So it's really easier said than done to tell you something etched contained by stone. Sorry!
Nothing ... the policy is on your son. If she dies first and you don't continue paying the premiums, the policy expires. Insurance companies don't settlement premium payments because someone who bought a policy dies. The policy is a 'hedge against the death' for the person within for whom the policy is written ... nothing more ... nil less!
After determinig the amount of vivacity insurance needed, an individual must determine the type of life insurance to purchase. Life insurers vend a variety of insurance contracts, masses of which are designed specifically for certain wishes.
Benificiary is/are the person(s) designated in a vivacity insurance policy to receive the death benefit. Types of beneficiaries that can be designated surrounded by life insurance policies include the following:
* The primary beneficiary is the first knees-up entitled to receive the death benefit at the insured's loss.
* The contingent beneficiary is the beneficiary who is entitled to receive the death benefit if the primary beneficiary is not alive.
* A revocable beneficiary designation manner that the policy owner has the right to transmutation the beneficiary without the beneficiary's consent.
* An irrevocable beneficiary designation mode that the policy owner cannot change the beneficiary lacking the beneficiary's consent.
* A specific beneficiary designation means that the beneficiary is name and can be identified, such as "Christian Louis Swift, son of the insured"
* A class of beneficiary designation means that a specific individual is not identified but is a contributor of a group to whom the proceeds is paid. One example of class designation is "children of the insured"
Now in relation to the answer to your question. Who is the beneficiary of the Policy? Is it your mother or someone else. If it is someone else later it does not matter otherwise the beneficiary would enjoy to be re-designated on your mother's death.
Remember that this policy is taken out on your son and not your mother. The proceeds are dependent on your son's life span or death and NOT your mother's natural life or death.
I believe that the amount compensated is the premium of the policy as per its terms and conditions. This will not be returned to you or anyone else unless the policy mature or is cancelled again depending on the type of insurance purchased. Even on cancellation you won't win all the money put money on as your son's risk has be covered until that time.
Better check with your insurance agent or the insurance company within question.
what happen when the owner & not the beneficiary dies, is that the policy ownership will transfer to beneficiary. This will do a problem if the new owner/bene is still a minor. Keep contained by mind that your son, regardless of age will be the owner & bene! So you will want to take strictness of that right away.
Check with your mother & hold her consider puting on a contingent owner & bene (you will need the agen or company to do this). Then at her extermination, the ownership will transfer (& the owner must take home payments), and the new bene will automatically be within place until or if the new owner make any changes.
No. If this is a in one piece life policy, and it's remunerated up, she should try to transfer it to someone else while she's alive.
You don't mention who the beneficiary is - but the policy will wage out to the beneficiary listed on the policy, should your son exceed away, regardless of the "status" of the policyowner, as long as the policy is active (ie, hasn't cancelled for non-payment).
if your mother is the owner of the policy, next the ownership would transfer to the contingent owner. if within is no contingent owner named, later her estate would be the owner of the policy and any changes would be signed stale by your mother's executor/administrator. it might be a good thought to go ahead and assign a contingent owner in a minute so in suitcase your mother does pass away up to that time your son, there can be someone already designated to sign for change and documents.
I enjoy call 2 places to buy mobile home ins. from Formost. They don't phone call me stern when agents come contained by as M
Question:
tHEY THE SAME COMPANY THAT INSURED ME LAST YEAR ,AND IT WAS OVER TEN YEARS OLD THAN,says no in a minute because over 10 years old. What could I do and what SHOULD i DO?
Answer:
My sister simply sold her mobile that was over 30 years matured so stating that a mobile over 20 years is not worth anything is sort of absurd. A mobile that is to say maintained isn't rusted out and falling apart.
She have her insurance with GEICO. Try them.
Buy on file and save yourself a ton of "agent" money!
American Standard ALSO insures mobile homes . . .but let's facade it, eventually these things will rust down to no value at adjectives. One advantage to renewing your policy is that, all right, you have a policy. Starting & stopping, or cancel for any reason, or shopping around from one year to the subsequent, will eventually bite you in the flipside.
So, if Foremost won't do it, you can try American Standard, but depending on the age (if it's 20 years, it's not worth anything!! even if you can live in it still), it might not be possible at adjectives, especially in a tough open market like FL.
Call the Foremost agents put a bet on again and ask them how they are doing on your quote. If the agent that you contacted does not return your call ask to cooperate to anyone who can help you next to a quote. Another company that will do older mobile homes is American Modern Home. You can do a quote online. Their website is www.amig.com.
Good luck!
you can check in that