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Can a insured surrender a life insurance policy after the policy holder dies?
Wiki User
∙ 12y ago
T sum assured divided by multiply no
for ex...
100000 / 30=3333
Wiki User
∙ 12y ago
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What is the holder of an insurance policy called?
Insured.
Person who is the holder of an insurance policy?
The person can be called Policy Holder,Insured, Life Assured as the case may be.
What is Cash Surrender Value?
The cash surrender value is the sum of money an insurance company will pay to the policyholder or annuity holder in the event his or her policy is voluntarily terminated. This is only before its maturity, or if the insured event occurs.
Can a named insured be an excluded driver on an automobile liability policy in New Mexico?
A named insured person can be an excluded driver on an automobile liability policy in New Mexico, if the policy holder wishes to remove a driver from the policy. The policy holder will have to notify the insurance company to make the changes.
Which of these is the best description of cash surrender value?
the insurance company pays the insured the cash value that has accumulated in the policy.............
What is the amount of money that the policy holder must pay before the insurance company will reimburse an insured loss?
deductible
What is the difference between an additional insured and a certificate holder professional liability insurance?
The same as on all insurance policies. An additional insured is someone who is also insured along with you on the policy. A certificate holder is someone that you have an obligation to provide your proof of coverage. The certificate holder will also be notified of all policy changes, lapses, cancellations, expiration's and renewals. If you receive a cancellation notice, policy change, a late payment notice etc., The certificate holder will also receive these notices.
Can life insurance policy be reinstated after surrender?
The surrender (voluntary termination) of a life insurance policy involves the payment by the insurer, prior to the death of the insured, of the accumulated cash value of a whole life policy. The cash value is the "savings element" of a whole life policy. Upon surrender, the insurer pays the accumulated cash value less any surrender charges specified in the policy. Reinstatement of the same policy is generally not available after surrender. Instead, the insured must reapply for coverage and meet then-prevailing underwriting standards for his/her current age and health status.
Which type of insurance dose not build a cash value for the in sured?
Pure term life insurance. In this kind of policy, there is no cash value of the policy for the insured. The policy holder gets no tangible or monetary benefits as long as he/she is alive. Only the survivors of the insured can reap the benefits of this kind of policy. So, we can say that this type of policy has no cash value for the insured individual.
What is surrender value?
The sum of money an insurance company will pay to the policyholder or annuity holder in the event his or her policy is voluntarily terminated before its maturity or the insured event occurs. This cash value is the savings component of most permanent life insurance policies, particularly whole life insurance policies. Also known as "cash value", "surrender value" and "policyholder's equity".
What is the name of the holder of an insurance policy?
is it a policy holder?
Who is the person that is the holder an insurance policy?
policy holder
