0
An organizations benefit plans purchase insurance with the WHOM OR WHAT which insures pension moneys in the event that the company goes bankrupt?
Wiki User
∙ 14y ago
The Pension Benefit Guaranty Corporation, or PBGC is responsible for insuring your pension benefits. In most cases, your pension benefit would be insured up to certain limits. For 2009, a 65 year old has a maximum insured benefit of $54,000 annually. So, as long as your pension benefit is equal to, or less than this limit, you'd still have your full pension benefit even if your company goes under or the pension plan terminates.
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
What happens to variable annuities when the insurance company goes bankrupt?
Generally, when an insurance company goes bankrupt, the guarantees that are being offered on the contract are gone. For instance, if you have a death benefit, or a income guarantee, those will usually be lost. As for the money you've invested in the variable annuity, if your money is invested in the sub-accounts (the various investments that are usually managed by mutual fund management whose names you will usually recognize), that money is still being managed by those companies, and is separate from the now bankrupt insurance company. That is the long way of saying, your money in the sub accounts is safe. However, if you have money in the fixed interest account, that is usually held by the insurance company, and that money may be in jeopardy.
Can you get money from your life insurance policy?
You can get money from life insurance in the form of maturity benefit and death benefit (the later being paid to the nominee).
What are the benefits of universal life insurance?
The main benefit is someone else pays for your free insurance
Benefit of choosing Extended Term Insurance as a nonforfeiture option?
It has the highest amount of Insurance Protection; Under this option the insurer uses the policy cash value to convert to term insurance for the same face amount as the former permanent policy. The duration of the new term coverage lasts for as long a period as the amount of cash value will purchase.
What does life insurance units mean?
An insurance policy that pays a monetary benefit to the insured person's survivors after death.
Does homeowners insurance pay off your mortgage if one of the homeowners dies?
No. For that kind of benefit you need mortgage insurance or a life insurance policy.No. For that kind of benefit you need mortgage insurance or a life insurance policy.No. For that kind of benefit you need mortgage insurance or a life insurance policy.No. For that kind of benefit you need mortgage insurance or a life insurance policy.
Can your employer require you to purchase life insurance?
If your employer require you to purchase life insurance and you are share a part of the total premia, please bear in mind that the ultimate purpose is the benefit of the employee. So the good intention has to be supported with equal contribution.
Can you use money from term life policy to purchase a home?
Yes, if you are the beneficiary, you can use the life insurance benefit for any purpose.
How does free auto insurance benefit people?
Unfortunately, there is no free car insurance. Although, one can purchase auto insurance at a cheap price. Auto insurance is used in case of an accident. It helps pay for the damage done to the vehicle and/or the person(s) in the vehicle.
What happens to variable annuities when the insurance company goes bankrupt?
Generally, when an insurance company goes bankrupt, the guarantees that are being offered on the contract are gone. For instance, if you have a death benefit, or a income guarantee, those will usually be lost. As for the money you've invested in the variable annuity, if your money is invested in the sub-accounts (the various investments that are usually managed by mutual fund management whose names you will usually recognize), that money is still being managed by those companies, and is separate from the now bankrupt insurance company. That is the long way of saying, your money in the sub accounts is safe. However, if you have money in the fixed interest account, that is usually held by the insurance company, and that money may be in jeopardy.
What's the benefit of discount travel insurance?
The benefit of the discount variety of travel insurance is, as suggested by its name, the opportunity to save money. The benefit of travel insurance is for the safety of oneself and his or her possessions.
What factors cause persons to be uninsured?
workers do not have health insurance because they cannot afford it.employment by small firms that do not offer health insurance as a benefit,and a tendency to change employers every few years.cannot purchase private insurance at affordable rates.
When was Mutual Benefit Life Insurance Company created?
Mutual Benefit Life Insurance Company was created in 1845.
What is a unit of life insurance for pricing?
What is a unit?A unit of coverage corresponds to the life insurance benefit amount you can purchase, and it depends on age, gender and state. Please visit the Guaranteed Acceptance Life quote page to see benefit amounts and premiums available to you for up to 8 units of coverage.
What are the benefits of group health insurance?
One of the biggest benefits of group health insurance is that as a group, usually an employer, you can get insurance at a cheaper rate per person then you otherwise could purchase separately. It also allows for a better benefit package all around.
Where can I get software for insurance companies?
Since 1979, United Systems and Software, Inc. has provided insurance software solutions for some of the largest names in the insurance industry. Our full line of Insurance Administration Software Systems and Solutions can be tailored to meet the needs of a wide range of organizations including Insurance Carriers, Third Party Administrators (TPA), Trade Associations, Self-Insured Funds and Trusts, Fraternal Organizations, Health Plans, Labor Unions, Employee Benefit Funds and Claims Processors. Http://www.ussincorp.com
What is the difference between prepaid insurance and insurance expense?
When payment for insurance is made advance of actual expenses then it is called prepaid insurance which is asset for business until insurance benefit is utilized while insurance expense is actual insurance expense when insurance benefit is taken.
