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A motor policy is a cover that protects your motor vehicle from unforeseen events such as fire, or accidents, and helps you recover the real value of your vehicle in the event that the insured risk occurs.
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∙ 9y ago
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How do you keep my policy as paid up?
A life insurance policy becomes paid up when all premiums as defined in the policy bond have been paid in full.A life insurance policy ought to be paid up before maturity for smooth disposal of maturity amount to the policy holder or its nominee. Premiums for a life insurance policy should be paid up for a minimum period of 3 years to attract surrender value.
What happens if you have a property policy for 500000 and the actual valueof the property is 800000 and a total loss occurs?
You would not be paid more than the limit on the policy you paid for.You would not be paid more than the limit on the policy you paid for.You would not be paid more than the limit on the policy you paid for.You would not be paid more than the limit on the policy you paid for.
What should you get paid if you are fired?
Nothing. Being fired generally means that you did something against policy.
HOW TO FIND OUT IF AN INSURANCE POLICY WAS PAID OUT?
You can contact the insurance company for a status paper of the policy to find out whether the policy was paid out or not.
What if someone dies and their policy lapsed can they pay policy up to date and get paid?
If they die after the policy lapses, then no payment is made. if the policy lapsed after the the person dies, then payment should be made to the beneficiary. mcdlife.com
What is it called when a insurance policy is paid up?
"Paid up" is actually the terminology used in the insurance industry when describing a policy that no longer requires any premiums. When a policy is "paid up", there are no further premiums required for the policy to continue on for what should be lifetime. This can only occur with permanent forms of Life insurance such as Whole Life, Universal Life and Variable Universal Life.
Is it legal to take a life insurance policy out on a common law husband and get paid if he should die?
Yes, as long as he consents to the policy being issued.
What is a paid up insurance policy?
A paid up insurance policy is a life insurance policy under which all life insurance premiums have already been paid, with no further premium payments due on the policy.
Is amount left after policy is paid off paid to beneficiary at time of death of policy holder?
Can you re-phrase this question? After the policy has been paid (to the beneficiary), there is no amount left.
What should I look for in an endowment policy for my life insurance contract?
It should be paid weather you die or not. It should fallow legal codes similar to IRAs.
Who are benefits of a life insurance policy paid to if the insured survives the term?
In a term policy if you outlive the term of your policy, no benefits are paid. For example, if you buy a 20 year term life insurance policy, and you are alive at the end of the policy, no death benefit is paid out. -ex
When is a policy paid out?
a policy can be paid out upon death of the life insured, maturity (if the policy has a term and is with profit) or via cash surrender (for a lower value) as long as the policy is with profit and is not a assurance term policy
