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2008-11-04 16:24:24
2008-11-04 16:24:24

The paid up life would have it's extra cash value too, so if you cashed it in for the cash value, there would be no more paid up life either.


Related Questions

if the owner of a life insurance policy dies and the policy is on her son. What happens to the ppolicy and is it part of the estate.

The will has no relationship to the insurance policy. The Policy is a contract between the insurance company and the insured and does not become a part of the estate.

A paid-up policy is a whole life insurance policy for which no additional premium / payments are required to keep it in force.

Supplemental insurance is an additional insurance which provides coverage in excess of your primary insurance policy. For example, Flood Insurance is a supplemental insurance to your homeowners policy which does not cover damage from floods. Or, you might have an Umbrella Liability policy which provides coverage to a higher dollar limit above your auto policy or business policy.

If the policy has additional cash value, an additional loan is usally permitted, up to a certain % of the total cash value.

In order to provide themselves with additional (supplemental) coverage in case the employers insurance policy is insufficient. When the assistant wants an additional layer of coverage beyond the limits provided by the employers policy.

Benefits paid from an insurance policy are separate from property that is left in a will. With an insurance policy, it is paid to the named beneficiary. That is not controlled by the wording of a will.

It really just depends on your insurance policy and the nature of the damage. Check you homeowners insurance policy declarations page for the term "Other Structures" or "Additional Structures". A pool is usually considered an additional structure. If the damage was caused by a covered peril under your policy you may have coverage for repairs.

What happens is that you get a new insurance policy, possibly with another insurer. Any unearned premium will be returned to you by your insurer.

The term you are looking for is "paid-up additions" or "paid-up additional life insurance"

It depends on the insurance policy you bought. You should contact your insurance agent and ask if you have coverage for additional structures and if your Pool is scheduled as an additional structure.

A major disadvantage of a modified whole life insurance policy is that you can never change the face value on your policy. Additional coverage would require the purchase of an another policy. Also the growth potential on your policy is limited.

Most people just buy another insurance policy somewhere else. That is usually what happens.

A single pay whole life insurance policy is a permanent life insurance policy that requires a one time payment/premium. The policy is guaranteed to stay in force until age 121 (in USA) and no additional premiums need to be paid.

This depends on what insurance company and what policy you have. Not all insurance companies include towing on their policy. Many times, you will have to pay for this service for an additional fee each month/year.

You no longer have insurance cover - if you happen to die then there is no payment made.

Individual added to a life insurance policy other than the insured named in the policy. For example, an insured father can have a dependent son and daughter added to the policy as additional insureds. In many instances, adding an additional insured to an existing policy is less expensive than purchasing a separate policy for that insured. In property and liability insurance: another person, firm, or other entity enjoying the same protection as the named insured.

Answer 1: yes, my sister is borrowing my car and she her own insurance on it.Answer 2: You can always get insurance as an additional driver on another person's car insurance policy. Isn't that how children in the house are added to their parent's car insurance policy?

The life insurance benefit will be paid to the deceased's estate.

An umbrella policy was created to provide additional coverage when a lawsuit brought over injuries and/or property damage that you cause exceeds the liability limits on your car insurance, home insurance, boat insurance, etc.

If you are insured then you should see your name on the certificate itself or on the referenced endorsement page.

If the automobile policy contract is in both names (husband and wife) then the insurance company will look to both of you for compensation of any losses that are not covered under your own policy.

Yes. Why not? Most insurance companies will check to see if any additional insurance policies exists for a policy holders. If so, they make sure that only one policy pays off. This is especially true (for example) if you are covered by two different life insurance policies one as part of your automobile insurance and another as a straight term insurance policy. In the event that one policy pays off in full the other policy is prorated by the other so that the beneficiary doesn't receive the full payout amount for the second ploicy. I've never heard of this in life insurance, I'd like to see some documentation on that. Sure, it happens in medical insurance, not life.

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