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no there is no cash value in a term insurance policy

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โˆ™ 2012-11-12 00:47:09
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If you were laid off and apply for insurance coverage on your wife's group policy do you have to answer a medical questionnaire

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Q: Can the actual cash value of an extended term life policy be liquidated by the insured?
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What are the difference between the marine Insurance policy and insurance certificate?

A Marine Insurance Policy is the actual contract of insurance between the insurer and the insured. Most of these policies are what is being referred to a Open Marine policies which means that the policy covers many shipments under one policy. An insurance certificate is issued for a particular shipment that the insured declares under the Open policy. The insured does not issue a policy for each individual shipment.


Who is the person who owns an insurance policy?

The insured or the insured's legal guardians (such as parents) is the policy "owner".


As a beneficiary do you own the policy after insured dies?

No. You do not own the policy. You will only receive the policy proceeds after the insured person dies.


Is life insurance an asset of the insured?

Yes, if the insured is also the policy owner.


What does Additionally Insured on a Vehicle Insurance Policy mean?

The person who took out the policy is the main or policyholder. Any persons added to the policy are considered additionally insured.


Should the insured sign the policy delivery form along with the policy owner if the insured and the policy owner are not the same person?

No, the policy is delivered to the owner and only the owner has to sign, acknowledging receipt of the policy.


What is a Additional named insured?

Individual added to a life insurance policy other than the insured named in the policy. For example, an insured father can have a dependent son and daughter added to the policy as additional insureds. In many instances, adding an additional insured to an existing policy is less expensive than purchasing a separate policy for that insured. In property and liability insurance: another person, firm, or other entity enjoying the same protection as the named insured.


What is the difference between insured and insurer?

The insured is the person or entity who is covered by the insurance policy. The insurer is the entity (insurance company)that pays to, or on behalf, of the insured for a covered loss. That which is covered by the policy is set forth in the insurance policy.


What is The different between insurer and insured?

The insured is the person or entity who is covered by the insurance policy. The insurer is the entity (insurance company)that pays to, or on behalf, of the insured for a covered loss. That which is covered by the policy is set forth in the insurance policy.


Can an insured person also be the beneficiary on an insurance policy?

Yes, there is no bar in the insured person being beneficiary on another insurance policy.


If i am insured and drive a vehicle belonging to someone that is not insured am i covered through my policy?

No. * i say Depends on your policy. Call your insurance person.


Can a person be insured in your car and not be on your policy?

yes


What is the holder of an insurance policy called?

Insured.


Can you be auto insured under your uncles policy?

It depends on which company your uncle is insured with, but typically with a standard insurance company you have to live in the household to be a listed driver on the policy. This is regardless of your relationship to the primary insured. If you are not listed on the policy as I driver you are still insured to drive his vehicles as long as you have permissive use.


Who is NOT an insured on a homeowner policy?

The insured's are those specifically named on the insurance policy, Typically the homeowner(s) and dependent children would be construed as the insured's as well as listed lien or mortgage holders. Anyone not named would not be insured


Will homeowners insurance cover university student?

A homeowners insurance policy will cover the interests of the named insured on the policy. It does not matter if the insured is a student or not.


Can an insured be removed from a Homeowner's policy without their written permission?

Yes. The primary listed insured is also the owner of the policy. The primary insured can add or remove additional insureds as they see fit.


Can anyone else but the insured change the beneficiary on a life insurance policy?

Only the POLICY OWNER can change the beneficiary on a life insurance policy. In most cases, the insured is also the policy owner, but it's not a general rule. The policy owner can be another person who is paying the premium (for example, a parent or guardian, spouse or other family member), or a bank, or a business. If the policy owner is not the same person as the insured, then the insured has no control over who the beneficiary is on the policy.


What is an insured contractor?

An insured contractor is a contractor who carries a Commercial General Liability Insurance Policy.


Guaranteed renewable A and H policy?

If a policy is guaranteed renewable, the policy can be renewed by the insured regardless of health.


Definition of insured party?

it means the owner of the policy.


What is expensive jewelry usually insured by?

umbrella policy


Can the insured person change the beneficiary of a policy?

Only the owner of the life insurance policy can change the beneficiary designations. In many case the owner is the insured. Check your policy for the definitions or call your agent.


What is the difference between a named insured and an additional insured on a general liability policy?

Attorneys will often say there is no difference, when it comes to extending coverage for legal liability. However, depending the specific additional form used there might be substanial differences in the portion of the general liabilty policy that is extended to the named insured versus the additional insured. For instance, older additional insured forms (CG 2010 11/85) extended coverage to the additional insured for "Products/Completed Operations". New forms use wording such as "ongoing operations of the named insured" that limit coverage to the additional insured to the "Premise/Operations" portion of the CGL form. In addition, an additional insured generally has no right to: * Request policy endorsements or cancellation * Receive copies of the policy contract, other than the a/i form and a certificate of insurance The purpose of an additional insured is to protect the rights of another party that might become legally liable for the actions of the named insured. For instance, a landlord might become entangled in a lawsuit caused by the actions of his tenant. By naming the landlord as additional insured, the named insured extends coverage, especially defense costs, to the landlord. The tenant's insurance company would have to defend both the named insured and the additional insured. Additional insured's are a common and increasingly important part of liability insurance. It is important you make sure your agent is aware of the specific nature of the relationship you have with the additional insured, to ensure the proper additonal insured form is provided. I generally like to review my clients contracts - including leases - to make sure the policy and a/i form are compliant.


Is nanny covered in homeowner policy?

No. your nanny is not a named insured on your home insurance policy.