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How to find out if a life insurance policy was taken out and then cashed in upon their death?


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2008-11-20 02:48:18
2008-11-20 02:48:18

How do I find out if my deseased father has a life insurance policy


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'Assurance Deces' is a French term which translates into English as 'Death Insurance'. Death insurance is a common form of insurance taken out to protect against life events such as accidental death. This policy covers areas such as accidental death. Should the claim against the policy be accepted, the policy would be paid to the benefactor. Depending on the issuer or the policy, depends on the level of premium.

This answer will depend on the type of policy that was taken out and if the policy is still "in force". If the policy is a term policy (unlikely), whatever is the death benefit face amount of the policy. If the policy is whole life or universal life policy, the policy may have a cash surrender value and a death benefit value. Meaning that you may be able to simply cash out the policy and get a check prior to death. Or, upon death, the value would be the death benefit face amount plus any unpaid dividends and interest minus any loans that may have been taken out. I am happy to answer more questions or help you with this. Brian Lombardo, CPA, Agent

A live insurance company is a company that holds a "life insurance" policy on a person. The policy is taken out by a person and fees are paid. And, if for some reason the person's life ends, the policy is paid out to the beneficiaries as long as the death was not done on purpose.

Survivorship life insurance is often taken out by spouses. All the benefits of the policy roll over to the surviving partner on the policy upon the first person's death. However, the benefits are not accessible by the surviving partner; the entire policy is only paid upon the second person's death.

Joint life policy is an policy taken by all the partners of the partnership firm for avoiding the disturbance in business due to death or retirement of partners,so when a partner dies insurance company will pay the representatives of the deceased partner otherwise the assets would have to be sold which can led to disturbance of business.thus,JLP is taken...........

It could be an insurance policy taken out with an insurance company in case of an accident.

Key Man Insurance is an insurance policy taken out by a business to compensate that business for financial losses that would arise from the death or extended incapacity of an important member of the business. Some companies associated with this policy include Nationwide and Mozdex.

Obviously, the life insurer will not pay when a patient policy holder is taken off life support. Unless the hospital authority officially signs the death certificate of the patient, the clinical death will not be officially recoginised from insurance point of view.

Send a certified copy of the death certificate and A COPY OF proof of the insurance policy and you should receive payment.

AnswerKey person insurance is a business related form of Life Insurance, and is taken out by a business to protect the business should any financial losses arise from death or incapacity of a member of the business that is specified in the policy.

Temp cover is car insurance that is the same as annual insurance except that except it is for a shorter term on your policy insurance. This insurance policy can be taken out for the minimum of 1 day and up to 8 months.

If your parents took out a life insurance policy and paid for it, the policy belongs to them and even if you are the person whose life is insured, that does not give you rights over that policy. I am not entirely sure why your parents would feel the need to have life insurance for their adult progeny, but possibly they are concerned that if you were to suffer a tragic premature death, they would be stuck with funeral expenses that they could not afford to pay unless they had an insurance policy to help them.

"Insurance and Taxes. No. All proceeds or withdrawals from any insurance policy are not taxable." This is not true. If you cancel a life insurance policy, the growth on the cash value IS TAXABLE. If you do not surrender your policy, the money is taken as a loan and therefore not taxable, but interest that has to be paid back to the insurance company grows.

I don't think so. Typically life insurance policies are taken by people for themselves or for their family members. The person who has taken the policy is the only one with whom the insurance company will interact. So, the chances that some random individual has taken a policy on your name are pretty slim and even if they have, the insurance co will not share details with you.

Find out in what state the life insurance policy was taken out in. Call the Insurance regulator of that state and ask them how to get the number for Durham Life Insurance. Call them and give them the policy number or the Social Security number of the Insured. They should be able to assist you.

can the grand mom and her son take a life insurance policy out on me and his children without my {legal wife} permission

In medical insurance, the policy holder of the policy is not automatically the guarantor of a step child. To become the guarantor of the child a formal adoption should have taken place, or the child can be added to the policy.

Term Insurance is a life insurance policy , a contract between the insured and the life insurance company. Term insurance can be taken for a period of 5, 10, 15 or 30 years. In case of sudden death or loss of income, your family and loved ones need not suffer financial crisis as they would get a lump sum amount from the insurance company.

Accidental death is not at all an evil. In accidental death, double the sum assured of a policy is paid to the nominee for which extra premia is taken since inception of the policy.

If you mean like home or auto insurance, then yes in a sense. There are several types of insurance that can be taken out for a person. These are health, liability, medical, long and short term disability, and life (death) insurance. Each pays in different ways according to the policy or contract agreed upon.

That depends on the type of insurance policy it is. If it's the landlord's policy on his building, with him paying the premiums, then the insurance benefits go to him. For the insurance money to go to you, then you would have had to have taken out renters insurance, with you paying the premiums, insuring the contents (your personal belongings).

Usually - as much as it was agreed upon at the time when the insurance was bought. When we buy an insurance policy, a maturity value is usually mentioned in the policy document. So, in all probabilities your insurance policy is worth as much as mentioned in the document. Also, since it has been 17 years since the policy was taken, it is possible that the policy has expired or lapsed. In that case, the policy is worthless today.

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