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Is it illegal for a credit life insurance company cancel a policy without notification and still charge the bank for payment?
Wiki User
∙ 11y ago
I got an auto loan 19 months ago with my grandma as the primary and myself as the secondary. I put credit life insurance on it, for a total of about $568 extra, raising my monthly payment about 9-10 dollars a month. When my grandmother passed away unexpectedly, I tried to file a claim but was denied because they cancelled the policy without notifying me. However, if this is true, they have been charging the bank for payments the entire time. To my understanding and with the research I have done, this is illegal? I asked the bank if I have credit life insurance on the policy, and they stated they I do have it, and it has never been cancelled. What can I do about this?
Wiki User
∙ 11y ago
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What notification is sent from the insurance carrier to the patient and the provider after an insurance claim has been processed?
The Insured Person will receive an EOB (Explanation of Benefits) from the insurance company which explains the payment by the insurance company, the allowed charge based on contract rates with the provider, and the remaining amount if any that is due from the patient to the provider.
What do you call the payment of the insurance company?
premium
On what types of policie is it a certainty that the insurance company will have to make payment?
A. Life Insurance
When can an insurance company void a policy?
Non payment
How can one obtain payment protection insurance?
You can get payment protection insurance by speaking with your insurance agent and asking whether or not the company offers such an insurance. You can try insurance agencies like Progressive or Advantage.
What is the payment of damages by the insurance company directly to the insured?
Payment of damages by the insurance company against your Householders' policy is paid directly to your account through NEFT,instead of cheque as was customary earlier.
How many companies have ministry of justice licenses of payment protection insurance?
HSBC is a reputed insurance company in India for payment protection insurance.
What type of policy is a certainty that the insurance company will have to make payment?
None.
Who would you contact if payment problem develops with an insurance company and the company ignore medical claims?
Call the Insurance Comissioner of the state you live in.
If an accident is not your fault do you call your insurance or the other person's?
Usually, you call your own. They will set up a claim and investigate it. They will usually pay for your car and recoup payment from the other insurance, or they will request payment from the other insurance company directly. In most cases, you will be in contact with your own insurance company.
What is 1008-S payment reduction notification?
This is a bunk form sent from a bunk company that allows you to re negotiate the terms of your mortgage loan.
What is 1008 S payment reduction notification?
This is a bunk form sent from a bunk company that allows you to re negotiate the terms of your mortgage loan.
