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What insurance policy requires payment of premiums to be paid for a specific time period?
Wiki User
∙ 9y ago
They are called 'Limited Payment Life Insurance Policy' where premium has to be paid for a specific time period.
Wiki User
∙ 8y ago
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What is a single pay whole life insurance policy?
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.
When it comes to life insurance premium refers to what?
-Total cost of insurance coverage. You are to consider all the insurance policies you are having on your life,total the premiums for payment on the pre fixed mode
What happens to the money that was put in term life insurance if it is terminated because of non payment?
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.
What are the benefits of purchasing home mortgage insurance?
A home mortgage insurance allows a person to buy a home without meeting the 20% down payment. it also allows for more flexibility by affordable premiums. Home mortgage insurance can be transferred from one home to another.
How long can an insurance policy stay active without payment?
As long as we pay our dues on time the policy remains in force. The moment we stop paying our premiums the policy lapses and the insurance cover provided by the policy becomes nullified. A lapse occurs when premiums are not paid even during the grace period. The life cover continues during the grace period whose duration varies based on the type of policy and premium payment frequency
What does Mortgage insurance premiums cover?
the house payment
Is it possible to pay someone else's insurance premiums with your credit card?
Certainly, if that insurance companie excepts that form of payment
What does payment plan 2912 mean on child support order?
It refers to Health Insurance premiums.
Can you cancel term life insurance by not paying the premiums?
Yes, this is one option. You could write a letter to the insurance company requesting cancellation of your policy. Or, you could stop paying the premiums and the policy coverage would lapse and be canceled for non-payment of premiums.
What is pooling of risk with reference to re-insurance and short-term insurance?
this refers to the payment of premiums into a fund or pool to pay for the losses that occur
What is a single pay whole life insurance policy?
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.
What is the definition of state premium tax?
payment to a state or municipality by an insurance company based on premiums paid by residents
When it comes to life insurance premium refers to what?
-Total cost of insurance coverage. You are to consider all the insurance policies you are having on your life,total the premiums for payment on the pre fixed mode
Can you purchase life insurance in a lump sum single payment?
Yes, you can. It's called Single Premium Life Insurance. With single premium life insurance coverage one premium payment is made and the life insurance policy is fully paid up with no further premiums required.
How much larger is the deposit for a perpetual insurance in comparison to other homeowners insurances?
Both insurance policies typically don't require a deposit. Simply payment of the premiums is required.
Can you deduct insurance premiums as a medical expense on federal taxes?
Can I add my monthly health insurance payment from my employer to my medical deductions, such as medications prescribed, office visits, etc..
What happens to the money that was put in term life insurance if it is terminated because of non payment?
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.
