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If you are taken off your insurance policy do you have to surrender your license?
Wiki User
∙ 15y ago
no because you will get another insurance
Wiki User
∙ 15y ago
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If you cash in a life insurance policy do you have to pay taxes on it?
"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.
How long is the surrender charge for a new contract with American Equity Life Insurance?
Each policy is different. Life Insurance Policies are different from Annuities. Check the policy carefully right when it is delivered. You have a certain number of days to return the policy as "not taken" and it costs you nothing. Make certain you are getting what you want, if not get your money back and do more shipping.
How to find out if a life insurance policy was taken out and then cashed in upon their death?
How do I find out if my deseased father has a life insurance policy
What is the purpose of the accident plan?
It could be an insurance policy taken out with an insurance company in case of an accident.
What is the value of a life insurance policy from Metropolitan life insurance taken out in 1924?
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
Will your driver's license be taken away if you write off your dad's car on which you have no insurance?
NO
What is an temp cover?
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.
What Is a document that is based on the amount of risk taken on a specific outcome?
Insurance policy
Person is 26 years old and on her parent's medical insurance but has also taken out her own individual medical policy Which is primary insurance?
The individual policy is always primary.
How do I find out about a 10-m-special whole life policy that was taken out with durham life insurance company and is paid in full?
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 you find out if someone has life insurance on you?
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.
How do you find insurance policies illegally taken out on insured who is still living?
You don't. Insurance policy information is non-public.
