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If you have an lic policy whose first quaterly premium has been paid if the policy is canceled by the holder will there be any money back of the premium paid?
Wiki User
∙ 11y ago
It very much depends on the type of life insurance and the terms of the specific policy. In general, however, if it is a term policy, which has no surrender value, there will be no return of the premium because your life was insured for the first quarter of the policy, so you received value (coverage) for the payment you put in.
Wiki User
∙ 11y ago
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What is an annual premium for life insurance?
Single Premium Life Insurance policy is good for those who can pay a lumpsum in a single stroke. Like conventional life insurance policies, this policy too provides a security umbrella to the policy holder until the full policy term. Buy Single Premium Life Insurance Policy : insuringindia ‪#‎SPLPolicy‬ ‪#‎LifeInsurance‬ @insuringindia
How do you find out the status of an LIC policy?
Only the customer i.e., the policy holder can find the status of an insurance policy. If you are the policy holder, use the policy number and your personal details and create an account in LIC's website. Once you register there, you can check the status of your policy online. You can even make premium payments through that website.
What is sum assured in insurance policy?
premium
What is return of premium?
Return of premium life insurance is a type of term life insurance policy that returns the premiums paid for coverage if the insured party survives the policy's term.
What must be paid each year by the policy holder before the insurance policy benefits begin?
Deductible
What is the premium of your policy number 482435603?
Premium information is sensitive and cannot or should not be shared with everyone. If you are the policy holder, then contact the insurance agent who sold you the policy or refer to the policy document. The premium amount will be clearly mentioned in it. Alternately you can call up customer care to ask for it. If you are not the policy holder, then no insurance company will share this information with you.
A fire insurance policy has an annual premium of 780 what is the regular refund if the policy si canceled by the insurance company after five months?
Premium = insured value / $100 * Rate
A fire insurance policy has an annual premium of 780 What is the regular refund if the policy is canceled by the insurance company after five months?
An insurance premium is the amount that the buyer pays the company monthly or annually which keeps the policy in effect. If a person paid a 780 dollar annual premium which was canceled after 5 months, they would be owed a 455 dollar refund.
A property insurance policy has an annual premium of 780 What is the regular refund if the policy is canceled by the insurance company after five months?
They are required to refund any unearned premium portion. Policy fees and the like are considered fully earned.
What is an annual premium for life insurance?
Single Premium Life Insurance policy is good for those who can pay a lumpsum in a single stroke. Like conventional life insurance policies, this policy too provides a security umbrella to the policy holder until the full policy term. Buy Single Premium Life Insurance Policy : insuringindia ‪#‎SPLPolicy‬ ‪#‎LifeInsurance‬ @insuringindia
Does a auto insurance policy get canceled when the policy holder dies?
Generally, an auto insurance policy does not automatically cancel upon the policyholders death.The policy will typically continue to provide coverage to the executors of the policyholder's estate until the end of the policy term.
How do you find out the status of an LIC policy?
Only the customer i.e., the policy holder can find the status of an insurance policy. If you are the policy holder, use the policy number and your personal details and create an account in LIC's website. Once you register there, you can check the status of your policy online. You can even make premium payments through that website.
What is a waiver of insurance policy?
I believe you are asking about waiver of insurance policy premium. There are certain insurance policies like children's plans, where even if the policy holder (Parent) is no more, the insurance company would waive off the premium payments and continue to provide the benefits to the policy beneficiaries (Children)
Is it possible for one beneficiary to receive the entire pay out of an insurance policy if there were multiple beneficairies?
1. The principle of indemnity does not apply to life insurance policies. 2. Declaration at the end of the proposals is a warranty. 3. The claim payable will depend on the Sum Assured. 4. A person who has just taken up his first job needs life insurance. 5. The annual premium may be less than twelve times the monthly premium. 6. The annual premium for a long term policy is less than for a short term policy. 7. The premium increases as the age of the policy holder. 8. The premium depends on the age of the policy holder. 9. The rate of premium charged can be less than the tabular rates. 10. The premium collected in the early years is more than what is required 11. Premium rates are determined by the actuaries of insures.
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
What happens when you want to stop paying premium on your item which you have insured?
If you don't pay the premium the policy will be cancelled.If you don't pay the premium the policy will be cancelled.If you don't pay the premium the policy will be cancelled.If you don't pay the premium the policy will be cancelled.
