0
If ownership of the policy is assigned, the assignee is liable for future premium payments.
Wiki User
∙ 10y ago
Add your answer:
Earn +20 pts
Which of these is an element of whole life insurance?
under this type of policy, the insured pays premiums for his or her entire life :) thankkk emery.s (;
How long is an life insurance term valid for if payments are not made?
If you die a life insurance policy pays an amount of money to a person you name. You have to pay premiums otherwise your life insurance will automatically lapse after 30 days.
If your ex-husband got term life insurance on you when you were married and was awarded the policy at the divorce can you have the benificiary changed without telling him if he pays on it?
On most life insurance policies only the owner of the policy can make benificary changes. So it really doesn't matter who is paying the premiums, but rather who owns the policy.
How is the initial home insurance premium paid?
These days it is typically paid by cash, check or charge.
What are the benefits of universal life insurance?
The main benefit is someone else pays for your free insurance
Who pays for unemployment insurance in Illinois?
The employer pays a percentage of payroll as unemployment insurance premiums.
Which of these is an element of whole life insurance?
under this type of policy, the insured pays premiums for his or her entire life :) thankkk emery.s (;
Is buy sell agreement disability income insurance premiums tax deductible?
No. Also, it is probably not a good idea to try and deduct the premiums for diability or life insurance because if you deduct the premiums or if the employer pays the premiums then any benefits are then taxable. You certainly would not want to have to pay income tax on a large life insurance benefit just because you wanted to deduct a few hundred dollars of insurance premiums.
Do you have to pay taxes on a partial life insurance paid out due to total disability?
If I'm not mistaken, life insurance is paid out on death. It may have a clause that pays the premiums on it in event of disability, but that, like a policy that pays you on disability, is basically under a disability insurance benefit, not life insurance policy.
How long is an life insurance term valid for if payments are not made?
If you die a life insurance policy pays an amount of money to a person you name. You have to pay premiums otherwise your life insurance will automatically lapse after 30 days.
Who pays the premium for group life insurance?
Group life premiums are generally paid by the employer, or the owner of the master policy (business owner, Association, Fraternal organization, etc).
How much money can you get from life insurance?
Depends on your coverage. The more coverage, the higher the premiums. You of course would not be alive when it pays out, so you would get nothing yourself.
How do I get on a limited pay life insurance plan?
Limited pay life insurance is really just a form of whole life. The difference is that the policy holder pays premiums only for a preset period of time, after which they enjoy the benefits of the policy for life. Policy holders can also borrow against this type of policy if needed, and it pays dividends.
Who can fund gmac insurances?
Whoever chooses to buy GMAC insurance pays the premiums, and GMAC insurance would use the premiums to in turn make sure they had the funds to pay out for the people who made insurance claims.
Who pays insurance cost when the person you hit isn't the owner of the vehicle?
The costs or premiums could be paid by anyone.
Who pays for the physical that is required by a life insurance company?
Life Insurance Company
What is permanent life insurance?
Permanent life insurance is another name for whole life insurance. It provides permanent, lifelong protection. This distinguishes it from term life insurance. Click here for more about permanent life insurance including its advantages and disadvantages. A permanent life insurance policy remains in effect for the life of the insured, with premium payments being made for the same period. Permanent insurance consists of a premium and a cash value or savings component. Like term life insurance, it pays off in the event of your death, but unlike a term life policy, it operates differently. The premiums for a permanent policy are nearly five to ten times the amount of the term life rates. A portion of these premiums go into the cash value element of the policy, and over time, these savings can grow. As the name implies, permanent life insurance is permanent - the policy is applicable for your entire life as long as you keep paying the premiums. The most common permanent life insurance policies are whole life and universal life insurance.
