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Q: Is an insurance policy a primary security?
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How are primary and secondary insurance determined?

It is usually written in an insurance policy if the policy is primary or secondary. If both policies have language that makes them secondary if other insurance is present then they may split the amount owed. State laws may change this.


What is life Assurance policy as a security?

You can get loan by mortgaging your life insurance policy as security or lien from bank or financial institution. The policy has to be assigned in their favor. Once you repay the loan with interest, the policy will reassigned in your favor.


Life Insurance Policy?

form_title=Life Insurance Policy form_header=Protect your loved ones with a lifetime of financial security. Find a life insurance policy customized to fit your needs. What type of life insurance policy do you want to buy?= () Term Life Insurance () Permanent Life Insurance () Both () Not Sure How large of a life insurance policy do you want to buy?=_ Who will it cover?=_ Who would you list as beneficiary?=_


What is an annual premium for life insurance?

Single Premium Life Insurance policy is good for those who can pay a lumpsum in a single stroke. Like conventional life insurance policies, this policy too provides a security umbrella to the policy holder until the full policy term. Buy Single Premium Life Insurance Policy : insuringindia ‪#‎SPLPolicy‬ ‪#‎LifeInsurance‬ @insuringindia


What is a beneficary?

A Contingent or Secondary Beneficiary will receive the proceeds from a life insurance policy after the Insured's deaths, if the Primary Beneficiary does not survive the Insured Person. This means, if the primary beneficiary is not alive at the time of death of the insured person, then the contingent beneficiary will receive the proceeds from the life insurance policy. Examples of situations which may give rise to the contingent beneficiary receiving the proceeds from a life insurance policy. 1. The insured and primary beneficiary die in an accident together, for example, a car accident. 2. The primary beneciairy dies, and the insured forgets to update the beneficiaries for his/her life insurance policy.

Related questions

If you and a spouse have different health insurance but have never designated one as primary or secondary could this cause problems when you do designate primary or secondary?

If you have insurance through your employer, and you are the policy holder,(the insurance is in your name) this insurance will be primary for you, and your spouses insurance policy will be secondary. The insurance policy thru your spouse's employer, (your spouse is the policy holder, or the insurance is in their name), this would be primary for your spouse, and your policy would be their secondary. Here's the phamplet from Medicare http://www.medicare.gov/Publications/Pubs/pdf/02179.pdf


Do you have to be added to your parents insurance policy if you are primary driver of one of their vehicles and you have insurance policy of your own?

yes, simple as that.


Which of types of beneficiaries in an insurance policy?

primary and secondary


What are types of beneficiaries of an insurance policy?

Primary and Secondary


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.


Which insurance policy is never primary when the insured has more than one policy?

Medicare


How do you get medicare as your primary insurance if you have horizons select as your primary you want to change?

You cannot decide which insurance is primary and which is secondary. Their is nothing you can do to determine this. Within each policy it specifies when each policy is primary or secondary. With Medicare, it is always going to be secondary to insurance provided by an employer or retirement plan.


Your daughter has insurance where she works but wants to use your insurance as her primary Can she do this?

If your daughter is listed on your insurance policy and a premium is being collected for her, then she can use your insurance. If not, she will need to use her insurance policy at work.


During the year your wife had insurance and later in the year you got insurance as well who would be primary?

Till such time that you got your own insurance, your wife's policy will cover you as her dependant. But now that you have your own policy, yours will be the primary.


Can a policy holder's primary insurance ask if they have other insurance?

Matt damon XD LOLz


Do you have to carry someone that lives with you on your policy and if the policy is up for renewal can you drop the other person off of your policy?

If you are not the primary bearifciney then they won't contact you. Say you dad named you mom as primary and you as secondary and there are no more kids. Then you mom gets the insurance money. If your mom was named ( or someone else ) was named as primary and they died prior to the insured then the secondary person gets the money. They should contact you, but if you want contact the insurance agent if you know who that is or the insurance company and tell them you dad name you on his policy. You will need the policy number and your social security number and maybe your dads address. Hope this helped.


How are primary and secondary insurance determined?

It is usually written in an insurance policy if the policy is primary or secondary. If both policies have language that makes them secondary if other insurance is present then they may split the amount owed. State laws may change this.