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How can I surrender a life insurance policy that my deceased mother has been paying for on me?
You can contact the life insurance policy and request the necessary forms that you will need to fill out and send back to the insurance company in order to surrender the policy. You may want to ask how much the cash value is that you will receive from the policy upon surrendering the coverage.
What else can I help you with?
Can you cancel insurance?
What kind of insurance? Life? Yes, you can simply stop paying. If it is a cash value policy you can surrender it.
Who is responsible for paying your deceased mother bills in Alabama?
Your mother's estate is responsible. If you signed the paperwork on some items, you could be held responsible.
If someone was paying back unemployment insurance and is now deceased is anyone else responsible?
No, no one else is personally liable for it.
Are you responsible for paying the debt your deceased mother owes to the Department of Education?
No, but if she left an estate they may or may not collect it from it. But not you
Is a child required to show proof of payment of debt to a deceased mother to avoid paying the debt to an estate in an irrevocable trust?
Yes.
Does the insurance company charge you fees for surrendering a term life insurance policy?
No. Surrender charges only apply when surrendering a life insurance policy which includes cash value accumulation, and even then only during the surrender charge period. Term life insurance policies have no cash value and can be canceled at any time by simply not paying additional premiums.
How do you calculate persistency in insurance?
Persistency Formula= No. of Clients Paying the Premium / Net Active Clients * 100Net Active Clients Formula = Total Clients - (Clients in Freelook + Surrender + Death)
Is there a way to double check to see if someone deceased had life insurance?
Findyourpolicy.com provides a A free Central Database to help Consumers protect their beneficiaries from losing their life insurance inheritance. If the deceased person had a life isnurance policy, they may have registered it with this service so you could find out. Also, you may want to check with their life insurance agent, or review their canceled checks, or their checkbook, to find out if they were paying life insurance premiums, and to what insurer.
Can you repay a loan with a partial surrender on a life insurance policy?
Some types of life insurance develop cash value; these are called whole life policies. Term insurance has no cash value. So it depends upon the kind of life insurance you have, and it may also depend upon how long you have been paying premiums.
What are the UK laws regarding the debts of a deceased person Who pays them off?
The estate of the deceased is responsible for paying all the deceased's lawful debts.
Who pays the mortgage on deceased parent's home?
Unless there was some sort of mortgage insurance, the estate is responsible for paying the mortgage. If the mortgage isn't paid the lender will take possession by foreclosure. If the heirs want to keep the property they must keep paying the mortgage.
Does the beneficiary of a life insurance policy have to pay for the deceased funeral cost or should the estate pay for it?
The beneficiary of a life insurance policy is not responsible for paying for the deceased's funeral cost using the money from the proceeds of the life insurance policy. The estate of the deceased is responsible for paying for the funeral cost from the proceeds of the estate.
