If it was not you it is not your business. If it is not your business you cannot find out about the situation. Privacy laws are taken seriously and everyone privacy must be protected. Don't think you can find out some else's financial business.
One can sell their life insurance policy and this is called Viatical Settlement. An insurance company sells insurance policy to a person. This person (viator) sells his policy to another person (viatical settlement provider). When the first person dies, the second person will benefit and cash in the money.
On average a company has 60 to pay the settlement or notify the beneficiary if there are any problems concerning the settlement. If the beneficiary killed the insured person the company can refuse to pay.
Let your insurance company know everything that you know about the accident and about what the other person's insurance company has proposed, and then let your insurance company handle the rest. If the other person was 100% at fault for the accident, your insurance company has a very powerful incentive to reject the counter-party settlement offer of a 50/50 split. Let your insurance company know everything that you know about the accident and about what the other person's insurance company has proposed, and then let your insurance company handle the rest. If the other person was 100% at fault for the accident, your insurance company has a very powerful incentive to reject the counter-party settlement offer of a 50/50 split.
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An Actuary is the person in an insurance company who calculates the premium
Absolutely. You have an obligation to report it to your insurance company and to cooperate with the settlement of the claim. If it was very small you can try to deal with the person directly to keep it from going on your insurance. Be carefull with this because you can't try to settle it your self then turn it over to your insurance company. You can contact them and ask them to get an estimate before you decide.
Payments of this kind are not taxable at all. This is considered as compensation for a loss of some kind be it injury or property.
The insurance company.
Structured insurance settlements can be sold to another person as long as they sign a contract thereby giving the settlement to them. This can be a tricky process, however.
First, you cannot find out what insurance company another person uses as this is a privacy issue. If you have had an accident with this person, the insurance company will be listed on the accident report. This is your only option for getting the insurance company name, unless the person wishes to tell you.
An insurance subscriber is the person who is purchasing the insurance for themselves. An insurance solicitor is a person who works for the insurance company and sells the insurance to the subscriber.
National Bural Insurance Company, or as originally called National Life Insurance Company was bought out by Monumental Life Insurance Company. Dealing with this company appears they are not customer friendly and pass you from person to person while each making you wait for 20 minutes..