0
What is a ho 15 policy and how does a person figure if it would benefit them?
Wiki User
∙ 13y ago
HO-15 is an endorsement that can be attached to home owner's policy form HO-3. It provides the broadest form of protection to your home but can be very expensive. This offers more protection than the HO-5 policy form.
Mac
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
What are the taxes on cash surrender of insurance?
How much is the surrender value compared to the premiums paid in? Generally speaking, there is no tax on the cash surrender value of a life ins. policy. This is because the (guaranteed) cash surrender value (GSV) represents the "legal reserve" required by law. So, for instance, if a person is insured for $100k, and the policy has a GSV of $10k, when the insured person dies (assuming no policy loans, etc.) the death benefit of $ 100k is paid to the named beneficiary: $ 90k of the insurance company's $'s, and $ 10k of the insured's $'s. Had the insured taked a policy loan of $10k, then the death benefit would be only the $ 90k. Hope this helps.
How do you find life insurance policy with social security number?
The only way to find a person or deceased Life Insurance policy with a Social Security number is to know the name of the company that issued the policy. With that information, the beneficiary can contact the Life Insurance company and search his policy with his Social Security number. Please keep in mind that if you do not have a signed sealed death certificate the policy benefits will not be issued. Also, the death benefit will only be issued to the person named as the beneficiary. So if someone else besides the named beneficiary on the policy tries to receive the benefits, it would be impossible.
Are proceeds from life insurance policy on key employees taxable?
If the policy was paid for with after-tax dollars, the proceeds would not be taxable. If the business took a tax deduction for the policy premiums as a business expense, a tax may be incurred on the death benefit.
Which life insurance riders would add no additional cost to a life insurance policy?
Some carriers include the following riders in a life insurance policy, without any additional cost: - Accelerated benefit rider (partial benefit paid in case of terminal illness) - Accidental death benefit (additional benefit in case of accidental death) - Waiver of premium (most companies will charge extra premium for this rider).
If you borrow on the loan value of a whole life policy but never pay it back does the face value of the policy decrease?
If you take out a loan against the cash value of a policy and never pay it back, the full loan value PLUS interest would be deducted from the benefit if it were to pay out.
What would be the value on a life insurance policy from globe life if the person paid on the policy for 3 months before his death?
It would be whatever the death benefit is on the policy unless the death was due to pre-existing conditions or if the insured lied on the application in which case a return of premiums is all that the beneficiary would receive.
What is a product policy?
A product policy is a set of rules on how a product or service is promoted to consumers. A product policy would generally contain information about the product and how it would benefit the target audience.
What would the value be on a whole life insurance policy from globe life be if the person paid on the policy for 18 years before her death face amount was 10 thousand dollars?
Face value and death benefit are essentially the same. Commonly, the death benefit will be the same as when it was issued, regardless of the impact of changes in the economy ( inflation ) or the number of years since it was issued. The face value may be increased if the policy earned dividends - this will be stated in the policy - and they chose to have them remain with the policy. If the dividends were paid out to the policyowner each year when earned, then the original face value remains as the death benefit. The amount paid out as the death benefit will be decreased by any loan taken, plus interest, and any outstanding premium due. Of course, if she stopped making premium payments, the policy may not have been inforce on the date she died. As many relatives find out when their loved one dies, simply having a copy of the policy doesn't guarantee that any benefit exists. Again, with all insurance policies, a rep from the insurance company issuing the policy would be the best person to speak to on the policy.
What person would most benefit from a combination resume?
My dick
Does insurance company owe money to family members in 2010 if policy holder purchased policy in 1953?
If the policy was still in force and the insured has died, then yes, the insurance company would owe the death benefit. If the policy was cancelled or surrendered, the company would not owe anything.
Why would you not report bicycle theft?
I would not benefit the person if It was stolen in the first place.
If you predecease the person you named on your policy who will benefit when you die?
Predecease means you die before them, which would mean they get the money as you wished. If they die before you, the secondary beneficiary gets the money. It may revert to your estate at that point if no one is named. Your policy should have the specific clauses as to what and how succession happens.
How do you figure how much unemployment you will get in Pennsylvania?
Pennsylvania says you would receive at least 50% of your weekly benefit, but check out the Related Link below, under $65.111 "Benefit Table, 'Determination of weekly benefit rate'
Whose insurance will cover claim if one spouse excluded in state of Texas?
The Excluded person would have no coverage under the policy. That person would have to have had their own separate policy or there is "no" coverage.
What happens to the death benefit where the insured commits suicide?
As long as the death occurred outside of the 2 year suicide clause and the policy was in force than the benefit would pay.
Can you cash in on a policy back in 1952?
If you bought the policy in 1952, and have been paying on it ever since......Or, if it is a paid up policy (just accruing interest all this time), then generally you can cash it out, as long as you are the owner of that policy. However, doing this will terminate the policy, and should the insured person dies, no additional benefit would be paid. Feel free to contact me via my profile for more information, or email jason@divineins.com
Can you collect on a life policy if the person has a stroke before the policy is two years old?
Read the wording on the policy. A normal life insurance policy would pay as long as all the answers on the application were given truthfully and there was no undisclosed pre-existing conditions. If the person had purchased one of the guaranteed issue or TV policies then no. These policies guarantee issue but require you to be insured for a period of time (usually 24 months) before coverage begins. The reason for this is that by 24 months you will have paid a premium that almost equals the policy benefit.
