If you already have auto insurance on another vehicle, most insurance companies will cover you up to a month while you work on insuring the new vehicle. On the other hand, if you do not already have auto insurance, you had best not be driving the new vehicle until you get insurance. If auto insurance companies find that you've been driving without insurance they will raise your rates when you DO get around to it, and they'll put you into a high-risk group.
Pure term life insurance. In this kind of policy, there is no cash value of the policy for the insured. The policy holder gets no tangible or monetary benefits as long as he/she is alive. Only the survivors of the insured can reap the benefits of this kind of policy. So, we can say that this type of policy has no cash value for the insured individual.
As long as it takes to reach your insurance agent by phone.
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.
Some forms of life insurance have a cash value, and some do not require premiums to be paid after a certain percentage of the cash value has been paid in. "Term life" normally has no cash value, and as you get older may either increase the premium or more likely decrease the face value.
Yes as long as he is the owner of the policy...he can do whatever he wishes.
You have to check the illustration or cash value table. Maybe 3 years. For more info see www.steveshorr.com/life.htm
Life insurance death benefits are paid out tax-free as long as your premiums were paid with after-tax money. If you have a cash value life insurance policy and surrender the policy, you may be subject to a taxable gain if the total cash value exceeds the cost basis of the policy.
an individual who buys an annuity pays the insurance company a sum of money and, in return, will receive a monthly income for as long as the purchaser lives.
An individual with autism will not qualify for Long Term Care insurance. He will qualify for SSDI and other government entitlements. As far as the cost of Long Term Care, it varies from one part of the country to another. $250- $300/day is a good ballpark number you can work with. I am not sure you are thinking on the right track tho. You need a lawyer's help, not someone savvy on insurance. Hire one!
Yes, as long as they are willing to sign the application. Or, if a minor and some insurance carriers, as long as you have insurable interest. 4lifeguild
If you do that you might have to spend a long vacation in the County Castle or a life vacation in the Amazon.
What do you mean "Sell" the life insurance policy? Once it is back in force and you are the owner, you can cash it in at any time if there is in fact a cash value. I guess you would have to better define what you mean by selling it.
as long as your wish if not regulated by your insurance company
Define your question better. Think person's question is self explanatory: Evidently they have an "universal life" style policy and they want to cash it in for the "cash value" You first have to submit the correct forms for your Insurance company and might have to get it notorized if you do not have original paperwork: once the paper work is RECEIVED by them it should take 7-10 days for them to process it. and add a couple days for check to get sent to you: I would ask the individual insurance company as some companies only send them out the 1st and 15th and say it is due to the interest being credited at those dates.
Of the various types of life insurance that exist, "term" life insurance is not permanent. This is because it remains in force only as long as premiums are paid. In contrast, "whole life insurance" is frequently also referred to as "permanent insurance" That is because it accumulates cash value, which is sort of a saving account built into the policy. Therefore, once cash value reached a certain amount, in theory, no further premiums have to be paid because the policy can be maintained based upon the cash value.
if they are death benefit proceeds no. if it is cash value proceeds then any withdrawals over the premiums paid are taxable, any loans on the cash value are not taxable. if it is a hybrid/combo life/long term care policy, then no they are not. all of this is assuming that the policy was paid with after tax dollars, not pre tax.
A universal life insurance policy is a cash value type of life insurance policy. With universal life insurance, you policy may build up cash values over time, similar to a whole life policy, but typically less expensive than whole life insurance. Another feature of some universal life insurance policies is called a "no lapse guarantee" With this feature, as long as you pay your premiums, the policy is guaranteed to last to age 100 and beyond depending on the specific carrier you choose. Compare this to a whole life insurance policy where the premium requirements may vary and depend on how dividends and interest rates perform.
typically they are for as long as your insurance will cover. But the norm is 30 days, 45 days 3-6 months. Also, it depends on the individual facility. But let me say that Insurance does have a lot to do with length of stay
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.
Yes, one person can obtain a life insurance policy on another as long as the policy owner has an insurable, financial interest in the life of the insured.
Talk to your agent to be sure
the MAXIMUM length of time a life insurance company may LEGALLY hold your payment of cash value on a SURRENDERED policy is 6 MONTHS.
The Post Office offers a wide range of holiday insurance that cater for your individual vacation. Your options include: single trip travel insurance, annual multi-trip travel insurance, long trip travel insurance and explorer travel insurance.
If your policy has a cash value associated with it you can get money for surrendering the policy. Term Life has no cash value, but a whole life or universal life policy may have a cash value in it. That depends on what type of policy it is, how long it has been in force, and assuming the payments have been made.
No. That's why the proceeds aren't taxed as income. Answer Correct...premiums are taxable. Death benefits are generally not taxed as income. Also if it is permanent life insurance policy and has some cash value built up and you take that cash out, the amount of cash less the premiums paid into the policy ("your gain") is taxable. Additional comment: Actually, if you take your cash value out as a loan, you do not have to pay taxes on "gains" as long as the life insurance is in place, hopefully until you die.