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Q: Is there an age limit to purchasing single premium life insurance?
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What happens when you reach the age limit with term insurance?

When you reach the age limit with term insurance, the policy will expire and coverage will end. Typically, the policyholder would need to either renew the policy at a much higher premium or seek alternative insurance options. It's important to review your insurance needs as you near the age limit and consider transitioning to a more suitable policy.


What are some different policy car insurance types?

Some different car insurance policy types include: combined single limit, split limits, rental coverage, collision insurance, comprehensive insurance, towing insurance and personal property car insurance.


What steps are taken by an insurance company to set up its retention limit?

A retention limit is the same as a deductible. Deductibles or retention limits are part of the policy. Insurance companies don't just make up deductibles. Usually clients choose higher deductibles in exchange for lower premiums. The same goes for retention limits, in that the higher retention limit a client is willing to accept on their own the lower the premium charged to that client by the insurance company.


For which situation does the 2000 spending limit apply?

Purchasing construction


Which situation does the 2000 spending limit apply?

Purchasing construction


Can a contractor force their subcontractor to raise their car insurance premium?

I think you mean can a general contracto force their subcontractor to raise their car insurance coverage limits. Some people choose to buy insurance with very low limits which do not provide a lot of protection. If you work for someone like a general contractor they can require you have a certain level of insurance. The reason they might do this is because they may have insurance that starts at a certain dollar limit. For example You buy insurance which covers damage cause if you car hits someone up to $25,000. The contractor may have insurance that starts at $50,000. This means that you would need insurance that covers up to $50,000 and the the contractors insurance would start paying after $50,000. Premium is the money you pay to purchase a policy. If you increase your coverage limits from say $25,000 to $50,000 it will of course increase your premium cost.


What type of Term Life insurance has a level premium and a policy limit that goes down over time?

A very common kind of term life insurance is called "level term life insurance". There also exists "decreasing term life insurance". Ordinarily the premium remains the sale but the face value of the insurance decreases over time. This is quite common in the context of mortgages where the amount of coverage is designed to correlate with the amount owing on the mortgage. The object is that upon the death of the insured/borrower, there will be funds available to pay off the mortgage.


What is the percent of Premium Amount that is Eligible for Tax Deduction in India?

You might be thinking, section 80C has an upper limit of 1 lakh. So, any insurance premium paid upto Rs. 1 lakh is eligible for Tax Deductions. Whats the big deal about it?Did you really think that?Unfortunately my friend, its not that simple. The actual premium paid is considered fully for tax exemption (with a higher limit of 1 lakh, of course) only if the amount does not exceed 20% of the Policy's Sum Assured


What is a good insurance company to sign up a teen driver in Illinois with?

Cheap insurance in the state of Illinois does not just limit itself to the insurance company. In order to lower your rate in the state, there are several things you can do. For example, maintain at least a "B" average in school, complete a safe driving course and choose an appropriate vehicle which will result in a lower premium.


What is Occurrence Limit for physical insurance?

hello


What does ''Catastrophic limit per person'' mean on an insurance plan?

On a health plan that is the limit the insurance company will pay over any period of time.


If a driver in Georgia rents a moving truck with no rental insurance and damages anothers persons property will their progressive insurance cover the cost up to the personal property limit?

Yes, the rental co has to have insurance coverage even if you don't have one. Purchasing additional coverage from the rental co is NOT a term of the lease of the vehicle. The law requires all rental co to provide their own insurance coverage.