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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.

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โˆ™ 2006-04-07 17:36:29
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Q: How long do you have to get insurance if you buy a car with cash from another individual?
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Related Questions

Which type of insurance dose not build a cash value for the in sured?

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.


How long does it take to put another family member on your car insurance?

As long as it takes to reach your insurance agent by phone.


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.


How long do you pay for life insurance is there a time period or is it for as long as your alive?

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.


Can a husband cash in a wifes life insurance if she is still alive?

Yes as long as he is the owner of the policy...he can do whatever he wishes.


How long does it take for cash to accumulate in your life insurance policy?

You have to check the illustration or cash value table. Maybe 3 years. For more info see www.steveshorr.com/life.htm


Do you have to pay taxes on life insurance?

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.


What type of insurance is an annuity?

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.


What is the cost of maintaining an individual with autism?

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!


Can you take out life insurance on another person?

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


What if you forge your signature to cash an insurance policy?

If you do that you might have to spend a long vacation in the County Castle or a life vacation in the Amazon.


If you let a life insurance policy lapse and then later have it reinsted how long do you have to wait before you can sell that life insurance policy?

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.


Your son is 18 in the military in another state and you are laoning him your car but how do you handle the insurance?

as long as your wish if not regulated by your insurance company


How long does it take to cash out a life insurance policy?

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.


What type of policy is not permanent life insurance?

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.


Are life insurance proceeds taxable for the care of an individual in a nursing home?

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.


What is a universal life insurance policy?

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.


How long is drug rehab?

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


Benefit of choosing Extended Term Insurance as a nonforfeiture option?

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.


Can you insure another person for life insurance?

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.


How long do you have to switch insurance after buying another car in Florida?

Talk to your agent to be sure


How long can Insurers delay payment of cash surrender values?

the MAXIMUM length of time a life insurance company may LEGALLY hold your payment of cash value on a SURRENDERED policy is 6 MONTHS.


What policy options are offered by post office holiday insurance?

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.


Can you collect cash from your life 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.


Are life insurance premiums deductible on year end taxes?

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.