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What happens to the money that was put in term life insurance if it is terminated because of non payment?
Wiki User
∙ 11y ago
If the policy lapses due to non-payment, the premiums that have been paid into it are not refunded to the insured unless there was a "return of premium" stipulation in the policy itself. There is no other way for the insured to recover these premiums.
Wiki User
∙ 11y ago
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Is it necessary to purchase mortgage payment protection insurance when buying a home?
"Mortgage payment protection insurance is essentially a form of life insurance. If something happens to you, your mortgage payments will be covered under the terms of your insurance plan. This insurance is definitely not necessary, and, in fact, a more standard plan like term life insurance may get you a better value for your dollar."
What is ppi insurance?
Payment protection insurance!
How can one obtain payment protection insurance?
You can get payment protection insurance by speaking with your insurance agent and asking whether or not the company offers such an insurance. You can try insurance agencies like Progressive or Advantage.
Which of these is an element of limited payment life insurance?
this life insurance policy has premium payment for a set number or years....
What is a payment for insurance called -?
A premium
What happens when you missed a payment and your insurance lapsed?
It so happens that you have no insurance
What happens if life insurance policy is canceled?
You no longer have insurance cover - if you happen to die then there is no payment made.
What happens if you rear end somebody in Illinois and your insurance was cancelled because the payment was late?
If you rear end someone in Illinois and your auto insurance has been canceled for non payment, it is likely that you will get sued. The person you hit can take you to court for compensation which will come out of your own pocket.
Are there any payment options available for people in need of gastric bypass surgery that don't have insurance?
Without insurance there is no organization that will pay for this insurance. It is sadly what happens when you do not keep health insurance.
Is it necessary to purchase mortgage payment protection insurance when buying a home?
"Mortgage payment protection insurance is essentially a form of life insurance. If something happens to you, your mortgage payments will be covered under the terms of your insurance plan. This insurance is definitely not necessary, and, in fact, a more standard plan like term life insurance may get you a better value for your dollar."
What are payment options for mercy insurance?
"There are a variety of payment options available for Mercy Insurance.
Can you receive life insurance payment if your in prison?
Yes. The beneficiary of a life insurance payment can always receive the payment regardless of where he or she is.
What is PPI in insurance?
Payment protection insurance!
What is ppi insurance?
Payment protection insurance!
Do I pay the bank of they're paying my home insurance?
Not sure of your question because I believe you made a spelling error but, Some mortgages include the payment for the insurance on the property. Most times this is called PMI (Personal Mortgage Insurance) It protects both you and the bank if something happens to the property or YOU and the mortgage can not be paid.
What is an interim payment on an insurance claim?
A partial payment.
Can you make a payment on line for life insurance?
Payment of life insurance premia is allowed on line, along with payment over counter whether payment by cash or cheque.
