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Answered 2007-06-27 17:47:06

It depends. Usually an insurance company will drop you if they find out that some kind of fraud is incolved in a certain claim. However, they can drop you because of claim history, or too many accidents within a certain time frame. In essence, if they feel it would cost them more to insure you than you would pay them in premiums, they can drop you. However, they must have good and valid reasons to drop you in accordance to state insurance laws.

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What happens when you want to stop paying premium on your item which you have insured?

If you don't pay the premium the policy will be cancelled.If you don't pay the premium the policy will be cancelled.If you don't pay the premium the policy will be cancelled.If you don't pay the premium the policy will be cancelled.

Can a life insurance policy be cancelled with out telling the owner of the policy?

Depends on the state but usually no. Most states require a 15-30 day notice before cancelling a policy.

How do you find out if a cancelled policy has equity in it?

You call customer service of the insurance company and ask. But if the policy is cancelled, it is very likely there is no value to it.

How can you get car insurance after your policy is cancelled?

Simple. You just buy a new policy.

Does your insurance company legally have to give you a grace period after you are cancelled?

Insurance Grace PeriodNo, any grace period would have passed before the policy went to cancelled status. Once the policy is cancelled that means any grace period that may have been afforded will have expired. If you were still within any regulatory grace period then your policy will not be in cancelled status, it would be in cancellation pending status.They are not legally obligated, most carriers do give you a time to re-instate however

Can you cancel a policy that has lapsed?

If thee policy has already lapsed, there is no active policy to cancel. It means that it is already cancelled.

What is policy evaluation?

Government and the public review the policy and decide if it should be continued, altered, or cancelled.

Can you purchase car insurance before the previous policy is cancelled and the car is still in someone else's name if you intend to register the car?

Yes. Once you have registered the car in your name, the old policy can be canceled out.

What happens if the sole beneficiary on an insurance policy dies before that person and the policy is never changed?

It goes to the estate

Can insured person receive money from whole life policy before death if policy is paid up?


Does your insurance company have to notify you before they cancel your auto policy?

Yes. Depending on the state and for what reason the policy is being cancelled, this determines the number of days that prior notice is required by the insurance company to provide to the policyholder.

How do you go about surrendering a life insurance policy?

You are apply before the insurer for surrender of the policy along with Surrender Voucher and NEFT form duly filled in and signed along with a cancelled cheque for their consideration and doing the needful.

When an insurance policy is cancelled inception date was any insurance ever provided under the contract?

I would need to know why the policy was cancelled back to inception. Sometimes this is called "flat" cancellation and it is extremely rare. Could you tell me why the insurer cancelled back to inception?

You had an accident when your policy was cancelled it was reinstated 24 hours later am you covered?


Is a cancelled life insurance policy reinstatable?

In Short - NO. However it is entirly depands on the individual policy contract. as a thumb rule - cancelled life insurance policy is not reinstatable. Regards, Tarun Bansal Life Insurance Advisor LIC of India - Delhi

What happens if you are in accident and pending cancellation of insurance?

If the policy was "pending cancellation" and had not yet cancelled there is no problem as far as coverage. If the policy was in effect at the date and time of the accident then the company will pay the claim. If it had already cancelled you are in serious trouble.

Can insurance be cancelled because of secondary driver?

Yes,, Any driver who does not meet the insurers underwriting guidelines can result in the entire policy being cancelled.

Car insurance criteria for cancels due to accidents?

A car insurance company can cancel your policy for many reasons and they are not obligated to provide you with insurance. Different companies have different criteria for cancellation of a policy due to accidents.

What is surrender value in accounting in joint life policy?

it is an amount paid by insurance company to person who has voluntarily terminate his policy before maturity

What is the cash value in an insurance policy mean?

The cash value is the amount of money your insurance policy is worth to the owner of the policy if the insurance is cancelled and the policy terminated. The insurance company will mail a check to the to the policy owner upon policy termination or cancellation by request of the owner. I would strongly encourage you to consult a professional in your area before cancelling an existing policy. There may be other options and alternatives to access the value of the policy without cancelling the insurance policy.

Can you get a new health insurance policy if your previous one was cancelled for non payment?


Is there a difference between lapsed and cancelled auto insurance?

Cancellation Termination of an insurance contract before its expiration date, by either the insurance company or the policyholder. Lapsed Insurance Policy When a policyholder fails to pay the due premiums, his or her insurance will get cancelled. These are referred to as a lapsed insurance policies.

When you are being sued for a full year workmen's comp policy but it was cancelled by them in the second month and they have the dates wrong is the lawsuit legal?

Was your policy 100% minimum earned? Why was it cancelled? Work with your agent to resolve this, especially if you were confused because the dates were wrong.

Do you lose your death benefit on an endowment life insurance policy if you live until the endowment and cash it in?

If you cash in the policy then yes it will not pay the death benefit because you have cancelled the policy.

Can your car insurance policy be cancelled without notification?

Not necessarily. In most cases you have to be notified in writing as to when and why you're being cancelled. Most causes of cancellation are from non-payment of premiums, and somewhere in the bill it states "policy can be cancelled if premium if not paid by due date". Otherwise, most insurance companies are required by law to notify you.