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will
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Can a client change the mortality rate on their adjustable life policy?
It is up to the discretion of the Insurer to change the mortality rate on the basis of information provided by the insured, in their adjustable life policy.
Can the beneficiary on a life insurance policy be changed by the executor?
No, the beneficiary of a life insurance cannot be changed by the executor unless he's the owner of the policy. The proceeds of a life insurance policy, unless the benefciary of the policy is the estate, are not subject to any conditions of the will. It is outside of probate.
If life insurance policy holder changed his job and address but didn't informed what will happen in the case of death?
If life insurance policy holder changed his job and address but didn't informed what will happen in the case of death?
What if an adjustable target life insurance policy?
WHAT???? Updated: I think the asker meant what IS an adjustable target LI policy. An adjustable premium life insurance product is universal life. These terms are synonomous. The feature of this type of product is that the insured can pay more or less (not less than the minimum premium in the first five yrs of policy) and thereby increase the death benefit or the length of guarantee. The target premium is a amount based upon the calculations made at the time of the illustration. It takes into account the premiums, death benefit and product specs. Target premium is sometimes called the commissionable premium, because the agent's commissions for that policy are based off of it.
What is the difference between fixed and adjustable interest rates?
Under a fixed rate, the rate does not change during the duration. An adjustable rate is one that can be changed. For instance, if I have 3% interest on something, it can be changed to, say, 3.4% under an adjustable rate.
What is adjustable whole life insurance?
Adjustable whole life insuranceAdjustable whole life insurance allows you to vary your coverage as your insurance needs change. You normally choose the face amount you need and the premium you want to pay, and the company calculates a plan that provides coverage for your request. The result could be any plan from a term policy with a short period to a limited-payment whole life policy. You can also choose the type of plan and face value you want, leaving it to the company to calculate the premium rate needed. Also known as flexible premium adjustable life insurance, adjustable life insurance is recommended for those who want flexibility with their insurance policy along with the cash value benefits and protection. As the family and circumstances change over time, the insurance holder can customize the coverage and modify payments and terms. Along with the investment component of such a policy, other benefits include the ability to modify the term of coverage, increase or decrease the premium rate, change the term of the policy and lower or raise the face amount.
Who is the owner og a life insurance policy?
The owners name is listed on the life insurance application unless it was changed at some point. Any change was also mailed to the policy owner and should be added to the policy. Only the owner can make changes to the policy.
What is flexible -premium adjustable life insurance?
Flexible Premium Adjustable Life Insurance is a policy usually called Universal Life but some companies may use different names. This type of policy is basically a term life insurance policy with an interest bearing side fund as part of the policy. The mechanics are that you can pay any premium above the minimum premium and within federal tax limits. You can change the premiums and the amount of insurance which makes it a very flexible policy. The trick is that as with term insurance the cost of insurance goes up as you age so you must pay more than the cost of insurance expecially in the beginning or the policy always has a danger of running out of money and the insurance cancelling. This type of policy looks good when interest rates are high but is very dangerous when rates drop.
There is no beneficiary on my mother's life insurance policy?
If no beneficiary is listed on a life insurance policy then the benefits are payable to the insured's estate. The beneficiary can be changed at any time prior to the death of the insured if this is the person's desire.
What is a Equitable life account adjustable life plan?
ELA's, as they are called, are typically outdated policies. Many times they used to be whole life policies, and when I client missed a premium, the Equitable turned the contract into an ELA, which is an extended term policy. The policy will last as long as there is enough cash to pay the life insurance amount. They are generally not designed to be perminant or whole life policies and have an expiration date.
How has hurricane Katerina changed domestic policy agenda?
how has hurricane katerina changed domestic policy agenda?
Does the death benefit of an adjustable life policy automatically increase with inflation?
It does not "automatically" increase and not due to inflation but it may increase. Your statements should reflect this. There are a few different factors. I can help you 4Lifeguild
