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Do you claim the money from life insurance policies from your parents death?
Wiki User
∙ 15y ago
If you are the named beneficiary of their life policies you do. You can call and ask the insurance companies who the beneficiary is and they will tell you that much. I presume your question had to do with claiming the death proceeds as income. If so, the answer is NO! Life insurance proceeds are received income tax free.
Wiki User
∙ 15y ago
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What is no risk no fault insurance?
In fact, term insurance policies can be called no risk no fault insurance, as no claim is payable during the tenure of the policy and only in the event of death of the policy holder, claim is payable to the nominated person of the policy.
What is the specific length of time required that a life insurance policy is active that the insurance will pay if the death is caused by suicide?
Most life insurance policies have a two year contestability period. If death occurs by suicide within the first two years, the claim would not be valid and would not be paid. If the contestability period has expired, the claim should be paid as any other cause of death would.
What are some of the policies offered by Sunlife Insurance?
Sunlife Insurance offer a number of policies. They offer life insurance policies as well as funeral planning policies to enable one to leave money to loved one's after death.
How do you claim your father life insurance after his death?
I need to report my father's death and collect on his life insurance policy.
Which type of policies that the insurance company will have to make payment?
Insurance policies may be categorized into 2 sectors:- Life Insurance and General Insurance. In life insurance, claims arise during maturity and death, when the Insurance Cos are to make payment. In General insurance falls medical insurance, fire & burglary, Professional indemnity,car insurance, Householders policy,shop keepers policy and so on. In medical insurance, when a person is hospitalized for treatment of illness/disease and stay for minimum 24 hours, either he can avail cash less system or claim under reimbursement. In the rest policies, when a fire or burglary occurs or so on, the claim has to be established with proper documentation supported by surveyor's report for consideration of the claim by Insurance Company, where they are policy bound to make payment.
Does ULIP's guarantee death claim?
Yes, Mostly... If the death is by suicide then, Insurance companies do not settle death claim, but in most other cases they do.
Can children sue their parents if they are deceased?
Yes they can, indirectly, such as in a case of wrongful death where the deceased parents killed others by the same actions which resulted in their own deaths. In other words, the accident or incident that killed the parents also killed a child or other person, and there is reason to think that the parents committed an act of negligence that resulted in the death of others. However, you would not be suing the parents, but making a claim against their insurance. But if the insurance refuses to pay, then you would sue the insurance company. Anyway, the children would not be suing the parents, but their parents' insurance or their parents' estate.
If you have whole life assurance life insurance attached to an endowment and your employer pays three time your salary on death in service will your wife be able to claim from all three policies?
Yes
How does a Universal Life Insurance Policy work?
Universal Life Insurance Policies work by giving death benefits when one dies. Unlike other life insurance policies, universal life insurance policies generate interest over time.
Does an insurance policy pay accidental death benefits is death is caused by murder?
It depends. AD&D policies are very restrictive in their payouts. If the deceased had alcohol above the legal limit of any type of narcotics in their system at the time of death, then the claim will likely be denied. If not, then the claim should pay. I work for the Center for Life insurance Disputes if you would like to discuss in more detail or get our representation.
Can Insurance deny claim for accident death due to ethanol intoxication?
Can Insurance deny claim for accident death benifit due to ethanol intoxication when insured had policy for 10 years?
Can you claim accidental death benefits with an unknown cause of death?
In most cases a claim for accidental death benefits will be denied if the cause of death is listed as unknown. A person can submit an insurance claim and appeal if it is denied.
