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Can your insurance ask you to pay for premiums that you have put a claim in to?
Paulacooper44
I have claimed on my ppi, that also covers my house contents. As I am no longer working, and to enable to meet my mortgage payments for twelve months. my question is: can they ask me to carry on paying these premiums even though I have submitted a claim and are unemployed. I was to understand that if you put a claim in to your insurance, that all the while the insurance was paying out on this premium that you did not pay a penny till your claim started again? Only my insurance have said for my policy to proceed, i would have to make sure that all payments are met, which they are, even through the claim. How can i be expected to carry on paying the policy when i am unemployed. also, they have put my house contents amount up from £35.00 to £47.00 since i put the claim in, and still paid every month since putting in. are they right to still charge you for the premiums, even though your unemployed? I have never heard of this. I am curious to be told the ans and would appreciate asap. thankyou very much. paula
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∙ 15y ago
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Will secondary insurance pay claim if primary insurance is provided by the same insurance company?
yes, they will treat it as if the primary was a different company. You pay two premiums. If they do not, contact the DOI.
Where does insurance claims money come from?
When you get insurance on a car, a house, a boat, you pay the insurance company money, known as premiums. The insurance company invests that money. When there is a claim, some of the premium, along with some of the interest from the invested money, is used to pay the claim.
What rights do an employee have if their company deducted insurance premiums from their pay but failed to pay the insurance premiums to the insurance company and the insurance was canceled?
Seek an Attorney.
Why does the insurance company get paid back the money Isn't that why we pay our premiums?
You pay premiums because insurance companies are a business and they are there to make a profit. Also, the premiums you pay go into a pool of money so the insurance company can pay out claims when necessary.
By how many ways I can pay my Insurance Premiums?
You can pay your insurance premiums in many ways. Usually, you can pay it with a company plan (if you work), through cash, or credit card.
Does the insured driver have to settle for what their insurance decides to do?
Not in every case. You pay premiums and should be considered in the outcome of any claim. Talk to your representative about it.
What do insurance companies do with the premiums people pay?
Part of it is used to pay the wages of the people who work for the insurance company, part of it goes as earnings to the people who own the company, and some goes out to cover damages that insurance holders claim compensation for.
Do congressmen pay for health insurance?
They pay premiums for their health insurance, as do other Federal Employees.
Do you have to pay federal or state taxes on an insurance claim settlement?
For US Federal taxes, it would depend on who was paying the premiums for one thing. If you pay the premiums yourself and the loss is not business related, then no. If your employer pays the premiums or if the loss is business related then maybe. Based strictly on the information given in this question, the answer would be no.
When you are purchasing insurance what are you doing?
You are prepaying for future expenses. In a year when you don't get sick (using the example of health insurance) your premiums help the company pay someone else's claim. In a year when you have your own emergency, other people's premium float your claim.
Do you have to pay taxes on a cancer insurance claim?
In the USA you do not pay taxes on the Proceeds from an Insurance Claim.
Can health insurance premiums be deducted from your health savings account?
The premiums you pay for your health insurance are qulified medical expenses. Source: IRS.Gov
