What would you like to do?
Is it legal to pay someone else's life insurance premiums?
Yes, this is one option. You could write a letter to the insurance company requesting cancellation of your policy. Or, you could stop paying the premiums and the pol…icy coverage would lapse and be canceled for non-payment of premiums.
Answer There are many different types of life policies. You need to call your insurance company to get the specifics of your policy. Some policies will s…imply cancel when payment is not made. Others have cash calue build up that can make your payment for you. In some sitiuations it may benefit you to convert it to a paid up policy.
A "premium holiday" is a provision contained in some whole life insurance policies that permits the cessation of premium payments, usually in the event of economic hardship. P…remiums are paid from the accumulated cash value within the policy during this period. When the cash value has been exhausted, the policy is subject to lapse for nonpayment of premium.
If you are driving someone else's car does your liability insurance pay repairs to the vehicle you are driving?
No, liability insurance is when there are injuries involved. If you are injured in an accident when someone else is driving your car, your liability insurance would cove…r your medical costs. Comprehensive and collision insurance on the car you were driving should pay for damages to the vehicle.
That is called rebating and it may or may not be illegal in your state. Check with your local department of insurance.
Yes, but you have to have Insurable Interest in the person, and usually (depending on their age) they have to approve or sign something allowing you to purchase the insurance …on them. Like, I'm divorced but I could have a life insurance policy on my ex-Husband, because I have insurable interest in him if something were to happen, because we have a son together. Usually the insurance company will make them sign something and of course they have to be insurable to insure them and depending on the amount of insurance could have to pass an exam. Just because you want Life Insurance doesn't always mean you will qualify for it. Yet, another reason to get it when your young and healthy! Hope That Helps!
It is not possible to take out insurance on a person with their knowledge. The insured must answer all underwriting questions and sign the application as well. The only case w…here this would not be true is if the insurance is being taken out on your minor child.
Yes, if you have a 'Power of Attorney.' This is often set up if a person is not available for a specific event, or item. I've drawn these up for people that need to sell a hou…se and the husband is deployed to another country. Without a Power of Attorney, it would not be legal on a document. People do sign for their spouses all the time though, that's not legal either, but it only matters if their spouse has a problem with it. Actually, it is legal for spouses to sign for each other. In the eyes of the law, a married couple is a legal unit. This is why one spouse is liable for debts of the other, even if the other spouse incurred the debts on his/her own and without the partner's knowledge.
Graded Premium Life is actually Graded Premium Whole Life Insurance coverage under which the initial premiums are less than normal for the first few years of the policy,… then the premiums gradually increase each of the next several years, until they become level (or the same) for the duration of the life insurance policy.
its paid on the value of goods travelling in it n value of the ship
I don't think you can unless you generously give them the money by hand or a check then I don't think so but I'm not quite sure...
I would like to pay on line for my reassure life insurance
One may generally insure the property of another if you have an insurable interest in it. This means that you have a financial interest in the property that may be harmed …if the property is damaged or destroyed. .
%DETAILS% Answer Certainly, if that insurance companie excepts that form of payment
Answer Indeterminate premium life insurance is a type of whole life insurance that specifies two premium rates: a guaranteed maximum, and a lower rate you… actually pay. The lower premium level is for a set period of time. Then the company establishes a new rate that may be higher or lower than the initial premium. But your premium can never be more than the guaranteed maximum.
Term life insurance is an insurance one would buy if they are looking to insure themselves for a specific term such as 20 years. This is a relatively low cost and basic insura…nce plan. Premium term life insurance is when one insures their life for a longer period, such as 30 years, and if they do not die in that time, the premiums that were paid are returned back to them.
Term insurance is NOT permanent! As the name suggests, the policy is designed to protect for a specific term or number of years. Rates are fixed for a certain number of year…s selected at policy purchase time. Before the policy expiration, the policy owner has the option to convert the policy to a permanent coverage if insurance is still needed, or let it lapse and stop paying premiums. Some term insurance has a return of premium clause, which allows that premiums be returned and can be used to buy a paid up permanent policy, for a lower benefit amount, without any underwriting. Not all companies have the option to convert to a permanent life insurance policy. Ask for a convertible term life insurance policy when you're looking for term insurance, just in case you may still need the coverage beyond the initial term period. ANOTHER EXPLANATION: No, term life insurance is not a permanent policy. That word applies only to whole life insurance. In term insurance, premiums are fixed for a certain number of years selected at the time of application. One of the choices is usually a level premium for a fixed period of years. The thing to understand about term insurance is that premiums increase with age, unless the level premium option is selected. Even then, the premiums remain level only for a fixed period of time, for example, 20 years.