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Can a life insurance company deny term life death benefit if premium was in default and benficiary was not notified?
Wiki User
∙ 14y ago
To begin with, there is no obligation for an insurance company to notify a beneficiary of the status of the policy or any changes to it. A policy is a contract between the insurance company and the policyowner only.
If the insured has died after the policy terminated due to nonpayment of premium, should an insurance company choose to do so, they may make some minor payment to the beneficiary, perhaps part of the premium paid. However, they are under no legal obligation to do so and most companies will not pay a death benefit on a terminated policy.
Wiki User
∙ 14y ago
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Is your insurance company get notified of a parking ticket?
No, an insurance company does not get notified of a parking tickets. Insurance companies are only liable for handling accidents.
How do insurance companies get notified of points?
The DMV submits it to the insurance company.
When was Mutual Benefit Life Insurance Company created?
Mutual Benefit Life Insurance Company was created in 1845.
Will your insurance company be notified if you receive a warning for speeding?
No, there is a database for tickets but not warnings.
Is United Benefit Life Insurance Company one and the same as United of Omaha Life Insurance Company?
no
How do you use benefit as a noun?
One benefit offered by our company is dental insurance.
What is the rule in a medical insurance company sending you a notice that a dependent wasn't covered back in January but you were never notified until the end of September?
Why wasn't the dependent covered? Can you prove you were never notified? Is COBRA or HIPAA involved? What does the Insurance Contract say? Brochures? Did the insurance company have an obligation to notify you?
Can I name myself as the beneficiary of my own life insurance?
Other than naming a Trust in your name as the beneficiary, writing a life policy in your own name wouldn't be written. If naming yourself as the benficiary, the death benefit would be paid into your estate. An insurance company would not write a policy in this manner since an "insurable interest" is required prior to binding a life policy.
When a new will is made does the life insurance company need to be notified?
No. they do not. The distribution you make of your personal assets upon your death is none of the insurance company's business, or concern.However, if you wish to change the beneficiary of your life insurance policy - yes - they MUST be notified of that fact, or the proceeds of your life insurance policy may go to someone whom you do not wish to have them.
When a beneficiary is removed on life insurance does the insurance company have to notify the deleted beneficiary?
Well, it's the duty of the Insurer to intimate the deleted benficiary in writing about deletion of his/her name from the beneficiary name of the particular policy,to avoid confusion in future.
Does beneficiary have to be notified by agent or insurance company for nonpayment of life policy premiums that ex-husband did not pay?
The company or agent is not required to notify any of the beneficiaries. Usually only the owner/insured are notified.
If you receive a speeding ticket is it your responsibility to notify the insurance company and if you do not can they deny future claims?
Your insurance company will be notified automatically via these shackles we have around us known as computers.
