0
Yes, HUF is a legal entity and can take insurance policy on its members. It will also get the benefit u/s 80C .
Wiki User
∙ 10y ago
Add your answer:
Earn +20 pts
It is not important to have a life insurance policy.?
It is not important to have a life insurance policy.
What is the executor on a life insurance policy?
The Policy Holder of a life insurance policy is the executor of the said policy.
Can a life insurance policy with five family members be turned in to five policies?
The answer is in the negative. You are to opt for separate life policies for your five family members to cater their needs.
Life Insurance Policy?
form_title=Life Insurance Policy form_header=Protect your loved ones with a lifetime of financial security. Find a life insurance policy customized to fit your needs. What type of life insurance policy do you want to buy?= () Term Life Insurance () Permanent Life Insurance () Both () Not Sure How large of a life insurance policy do you want to buy?=_ Who will it cover?=_ Who would you list as beneficiary?=_
What is portable life insurance?
A life insurance policy is "portable" when upon leaving the group policy, you transfer your life coverage to an individual life policy with the same insurance carrier with no changes to the policy or increase in premium.
Can other immediate family members change the beneficiary of a life insurance plicy?
Immediate family members would not be able to change someone's life insurance beneficiary without power of attorney. The life insurance policy is a legally recognized document signed by the owner with a designated recipient.
What policies are offered by General American Life Insurance?
There are many policies offered by General American Life Insurance. These include the Variable Life Insurance policy, the Condo Insurance policy and the Boat Insurance policy.
Who can own a life insurance policy on you?
A husband can buy a life insurance for his wife. Husband becomes the proposer and he is also the beneficiary in case of any unfortunate death of wife. Similarly a working wife can also propose a policy for her husband. Father or mother can take out a life insurance policy for their children. Children cannot take out life insurance policy on their parents name as there is no insurable interest for them to do so. Almost anyone with relationship interest can be the owner of someone else's life insurance policy. The further removed the proposed owner is form the insured, the harder it will be to explain ownership. Note that corporations can also be the owner of policies.
Is permanent life insurance the same as whole life insurance?
Technically, there is no insurance policy called as permanent life insurance. However, you can treat whole life insurance policy as permanent since the policy covered the whole life span of the policy holder and benefit is payable to nominee in the event of any eventuality of the policy holder.
How do you locate a life insurance policy?
how do you lacate a life insurance policy that was with southern life and health insurance company 30 years ago
What is ordinary life insurance?
Actually, whole life insurance policy other than endowment,single premia or ulip policy can be called ordinary life insurance policy.
Can the executor get the amount of the life insurance policy?
NO.. unless the policy does not have nomination. Only nominee will get the proceeds of life insurance policy.
