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If you said you would take cash but later changed your mind and called your insurance company can you be penalized for the verbal agreement?
Wiki User
∙ 17y ago
Not if you haven't already accepted the payment. Your policy most likely states that if you 'accept' payment from a tortfeasor then you waive the right to recovery from your own policy. Also, if you have accepted payment but the amount you have accepted is less than the deductible under your own policy, your insurance company may still allow you to file under your own policy. The company will then pursue the tortfeasor or their insurance company for the remaining amount of the damage.
Wiki User
∙ 17y ago
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Can your company be penalized for a pre existing condition you do not list on your application for group health insurance?
Presumably in this context it is your employer providing you with health insurance.It is not that your company would be penalized, it is that the insurance company would refuse to pay for treatment of the preexisting condition. They set rates according to the known health of their pool of insured people. But upon signing up for your company's insurance plan you failed to divulge a known condition, and signed the statement saying you were giving the insurance company an accurate statement of your health, so you lied to them (aka committed fraud). That generally voids your policy.Check the particular wording of your own insurance policy regarding preexisting conditions.
Who is honoring National Burial Insurance Company Burial Policies?
Monumental Life Insurance Company bought National Burial Insurance Company. Monumental Life Insurance Company will be honoring the burial insurance policies. (Monumental Life has changed names to Transamerica.)
How can you change a signed auto insurance settlement?
You don't. A signed settlement is a legal binding agreement between you and the insurance company.
How can risk of a company be prevented?
How can a risk of a company be prevented is by taking an insurance policy. Now, What is insurance? Insurance is the agreement between two partners to undergo a certain agreement in case of any unfortunate circumstances. The first partner is called the insurance company(insurer) while the partner is called insured, which is the person taking the policy. For a company to be prevented from risks it will has to take an insurance policy; for this risk occurring the insurance company will has to pay a certain sum of amount (called premium) to the company in other to cover half or almost the risk. So, with this, the company will be prevented from risks of any nature.
What happened to Peoples home life insurance company of Indiana?
In 1978 Peoples Home Life Insurance Company of Indiana's name changed to Federal Home Life Insurance Company. On January 1, 2007 Federal Home Life Insurance Company merged into Genworth Life and Annuity Insurance Company.
Has life insurance company of Georgia changed names?
The company has pretty much always been known as Life of Georgia, so, no it has not changed names.
Who bought the Union Life Insurance Company of Little Rock?
According to the Arkansas Insurance Department website: In 1990 Union Life Insurance Company was merged into Jefferson National Life Insurance Company. Jefferson National was later merged into Great American Reserve and Great American Reserve was later merged into Conseco Life Insurance Company. Union Life's life business was transferred into Conseco Variable Insurance Company. Conseco Variable Insurance Company changed its name to Jefferson National Life Insurance Company and entered into an agreement with Protective Life Insurance Company of Birmingham, Alabama to service the Union Life business. You may call 1-800-866-3555 to talk to a customer service representative. To inquire about your policy use the letters KK and then your original policy number when referring to your policy number.
If your daughter lets a friend drive your car and they have an accident who is responsible?
My boyfriend was driving my car and had an accident. My insurance company paid the damages but his insurance premiums went up. Mine did not increase. The points follow the driver. It has been a few years but I am not sure if it has changed. Your insurance agent should be able to inform you. I didn't want to call them at the time but I did and was assured even though they paid for it, I was not penalized nor were my premiums increased.
Where is peoples -Home life insurance company of Indiana?
In 1978 Peoples Home Life Insurance Company of Indiana's name changed to Federal Home Life Insurance Company. On January 1, 2007 Federal Home Life Insurance Company merged into Genworth Life and Annuity Insurance Company, which is domiciled or located in Richmond, Virginia.
What does life insurance do?
Life Insurance is an Agreement between an individual and an Insurance Company on utmost good faith by which the Insurance Company undertakes to pay the nominee/authorised person/legal heir the specified sum assured in case of his/her unfortunate eventuality within the tenure of the policy.
When was the Hartford Insurance founded?
Hartford Insurance was founding in 1810 as the Hartford Fire Insurance Company. However, they have changed their name and base of operations since then.
What are some of the benefits to combining your insurance policies?
Insurance policies are contract which the customer and the company uses to seal the agreement and conditions of the insurance. Combining them could result better conditions for the customer as the company would be ready to do some discounts on the service.
