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Can a person hold two life insurance policies with the same company?
Independent
Not a problem at all. Many times individuals may have multiple policies with the same company as one may be a term policy and the other a universal life policy, or you may have two term policies with different term lengths. Sure.
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∙ 15y ago
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Can a person hold life insurances policies with different companies?
Keep in mind that you may wish to keep the eggs in one basket as it WILL save you money. There is something called "Banding" which basically means that the more death benefit you have in one policy the lower the cost per thousand. In addition, each policy has an annual policy fee of $50 or so. So in the following example you would lose out big time in the cost/$1000 but would also pay in excess of $500 annually in policy fees spread over the 10 policies. Your best bet when working with any insurance program, find and work with a reputable broker! ___________________________________________________________________ Yes, you can hold as many life insurance policies you want, and spread your eggs in many baskets. There is a concern that your applications could be rejected if you risk being "overinsured". That means the Underwriter reviewing your application will look at your net worth and other info, and determine a maxiumum dollar amount that they will offer. It has to make sense because nobody wants somebody worth more dead than alive. A company called the MIB is a clearinghouse that allows all insurance companies to see any previous activity, sort of like a credit report on your insurance applications. Say you qualify for $1,000,000 of insurance, you could get $100,000 at ten different companies (or however you want to split it up). Each company can determine the maximum they think you should have, it's not a perfect science. It can also raise red flags to insurance companies if they see you are applying all over the place. Be ready to explain why. They might worry that you either have an unscrupulous agent churning or twisting your policies, or that you have a terminal health problem. If you are wary of a company you might have insurance with already, you can take your business to another company. (Let the new agent help you with the transfer paperwork...don't go cashing in your policy on your own, if you plan to take another policy out somewhere else! There's something called a 1035 exchange that keeps you from experiencing a tax consequence, like you would if you removed the money from your retirement plan early.)
What do you call a company that owns another company?
A company that owns another is a Parent Company, while the one that is owned by another is a Subsidiary. The Subsidiary may be fully owned or partly owned. To qualify as a Subsidiary, the Parent must hold at least 25% of the shares of the Subsidiary.
Why does a company become a subsidiary company and a holding company?
A company will be called a subsidiary/holding(sebtion-4 of companies act,1956)- if a company holding a company of another i.e it may be of (i).where the other company controls the composition of its board of directors,or (ii)where the company hold more than 50 percent of paidup capital,or (iii) The company is subsidiary of the subsidiary. IS CALLED THE SUBSIDIARY COMPANY .The other than subsidiary is called holding i.e which controls the other company due to the conditions stated above
Can a private limited company allot shares to a partnership firm?
No. As a Partnership Firm is not a legal entity it can't hold the shares in its own name. However, the partners may jointly hold the shares on behalf of the Firm or all the partners may give authority to one of them to hold the shares on behalf of the Firm. (Above view is as per Indian Context)
Who do you need to see to find out if you can just use a liability wavier or have to buy insurance for a small business?
A business scan not waive it's own liabilities. If you are wanting to avoid buying liability insurance you would need to request that each of your customers waive your liability before doing business with you. Depending on what type of business you have, such a request could dissuade many potential customers from doing business with you, as it would likely give the impression that your company is unprofessional, incompetent and or irresponsible. Can you imagine a company offering to provide a product or service to you, but first asking you to sign a liability waiver which states you will not hold them responsible if they steal your money, burn down your property, perform poor work that later has to be redone or falls apart the day after, etc etc. It might be unrealistic to expect many customers would agree.
Can two people hold two life insurance poicies on the same person with different companies?
YES, you can have multiple insurance policies, from different companies or even from the same company. Each company has it's own rules of how much life insurance someone can get. You can get quotes from multiple companies and have life insurance policies issued simultaneously from different companies. You should work with an insurance agent that has access to multiple insurance companies and can advise you what requirements each company has, and the limits they are willing to issue for life insurance.
Can you hold multiple life insurance policies on the same person?
Yes you can but you should note that on the application. Part of the fraud prevention for a carrier is a person with far more life insurance than would seem prudent and necessary.
Can an insurance company hold benefits due a disabled adult when POA requests release of them?
no
Can 2 people hold two life insurance policies on 1 person with the same company?
Yes, provided that each person has an insurable interest in the life of the insured. An "insurable interest" is essentially a "stake" in the continued life of the person insured. It can be based upon financial dependence, familial relationship, business relationships (such as a partner having an insurable interest in the life of another partner), and in most states, "love and affection".
Can mortgage company hold insurance fund if you are deliquint?
According to paperwork we received from our mortgage company regarding the release of insurance funds, we must keep our loan current. So, yes.
How many yards of cement does a mixer truck hold?
8 or 9 yards, depending on the company's policies and their location laws.
Can you hold a person liable if person is excluded on insurance an gets into wreck?
What do you mean hold them liable. If you gave them permission to drive your vehicle and you had excluded them on your policy, the insurance company will not pay any part of the claim. More than likely you, as owner of the vehicle will be the primary target. If the accident involves another car you will be primarily responsible for their damages and injuries as well as the damage to your vehicle. You can try to implicate the driver but it is your vehicle, your insurance and exclusion that you signed, and you gave this person permission to drive your vehicle, knowing what you do about them.
Does everyone who drives a truck need truckers insurance?
Anyone who drives a truck must at least hold a liability insurance policy to cover injuries and damages. Additional policies are not required, but can be beneficial to the driver.
Is asset life insurance?
I believe you're asking if life insurance is considered an asset and I would say yes. Generally speaking there are cash value type life insurance policies and term life insurance policies that tend to not have a cash value. Cash value policies; whole life insurance, universal life insurance, etc. have a quantifiable value to them considered to be equivalent to the cash surrender value if not more. This would be considered an asset in most instances. Although most term life policies do not carry a cash surrender value, you could potentially think of it as an asset as someone may be willing to purchase that policy from you. If you were to consider selling your life insurance, someone like a viatical company or life settlement company will likely pay you for it. The difficulty lies within valuing certain types of policies due to stricter IRS definitions, an ever changing life insurance industry, and more regulations. The value of a particular life insurance policy really depends on who is asking and what type of policy you hold. The value may be calculated differently for example if a policy is being given to a charity or if it being accounted for for Medicaid purposes.. "Is asset life insurance?" I would say yes to that question more times than no.
How do you find my mother life insurance because she past when i was 10 . iwas told when iam 18 all get money from her life insurance but i dont know how to find it.what to due or where to start.?
The insurance company would have had to pay to a beneficiary who would hold the money in trust for you. That was probably the person who raised you after her death.
What is the purpose of a hospital?
Bupa hospital is a very large British healthcare organisation which are only for members in the UK that hold private health insurance policies. However they do also offer services to people who do not have any policies at all.
If I am a beneficiary on a life insurance policy and owe back taxes or have filed bankruptcy will the insurance company hold the check?
No, they will pay the claim to you and then you will be able to do what is fiscally responsible.
