Usually insurance companies offer their clients one of two ways to pay for their insurance. Either you can pay it all up front every six months or so or you can make monthly payments.
yes it is
premium
Usually when your buying car insurance you have the option to make monthly payments, or pay in full -if you pay in full, you pay the full amount for the year. This way there are not payments to be made until 12 months later when you have to renew your insurance....
This depends on the type of insurance money and who paid the premiums for the insurance for the insurance money that was received and what reason was the payments made. A LOT OF MISSING INFORMATION NOT INCLUDED IN THE ABOVE QUESTION.
Lump sum refers to money that is paid in full up front typically from a settlement. Annuity settlements are when the payments are made over time in installments.
Yes, if other terms of the contract are breached, such as having no car insurance.
YES. The bank or lender, who owns the vehicle ( You don't own it until ALL the payments have been made ) are within their rights to take it back as you are not insured if you don't PAY for the insurance. You are risking THEIR property, the car, by not having insurance coverage on it continually. Remember, you DON"T own it until ALL the payments have been made in full. Until then the company that LOANED you the money to buy it , OWNS IT.
Read your CONTRACT. You have to be in DEFAULT of the contract for the lender to repo. If you are current on payments, what else can you be in default of?? INSURANCE coverage?
It's a payment made to the policy owner by the mutual insurance company when there is a profit. The policyholders are the owners of a mutual life insurance company and they share in the profits by receiving dividend payments from the insurance company.
All policies pay only for the covered circumstances, and are subject to exclusions (which are important to understand). Assuming that the policy has been kept current, payments have been made, and the insurance company remains in business, most forms of insurance will receive their stipulated payments.
If I'm a buyer and I want to keep the automobile, can the co-signer take it away if all the payments has been made. I put the down payment on the truck and the insurance in my name.
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.