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What is the maximum reimbursement for life insurance for a insured child?
Wiki User
∙ 13y ago
Before I answer this question, I would first like to clarify that reimbursement means to get money back so I am assuming you are referring to closing a child's life insurance policy to obtain the cash that was in the cash value portion of a whole life account. And that always depends on the amount of the premium and how long the premiums have been paid in to the policy.
If you are referring to the death benefit for a child, than the answer to that is: up to the amount that the parents and other siblings would carry.
For example, if 2 parents each have $50,000 and there is an application for a child for life insurance, the maximum amount would be $50,000. A child cannot carry more insurance than the parents carry. If there are siblings involved, the amount of coverage would be equal to all children in the household. I hope this helps answer your question. My name is Patrick Villalobos of the Patrick Villalobos Agency and I am with the Farmers Insurance Group of Companies in Chicago, IL.
Wiki User
∙ 13y ago
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Can you add a step child to your insurance?
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You or your child can only get insurance if the real dad was insured and you or your child were listed as the beneficiary.
Can a child be an insured in a home owners insurance policy?
Yes, If a child owns the home, the legal gaurdian can purchase the coverage needed.
What are the benefits of child only health insurance?
The only benefit to having Child Only Health Insurance is that the child is insured. According to studies, children with child only health insurance were more likely to have had routine dental and health examinations in the past 2 years over those without insurance. The rates for children that had insured parents were even higher, suggesting that children that have an insured parent are more likely to have access to all the healthcare that they need. The study also suggested that families with the child only health care, may not know how to use it properly therefore, they don't use it enough.
What is guaranteed insurability?
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If a child has insurance on one of the parents cars but drives the other parents car is she still insured?
No, the child needs to drive the other car. No, the child needs to drive the other car.
Can you remove a child from your insurance if his car is registered to his father and insured in another state and he doesn't drive your car?
Yes you can, Ask your insurance company for a Named Driver Exclusion. This will allow your child to stay on your policy(just in case) with out being charged for that child!
Can a parent get paid if insured is the child and he or she commits suicide?
The provisions of the insurance policy would be the only ruling authority. Check the wording of the policy.
What is the verbiage used in a Per stirpes beneficiary designation?
It is a type of life insurance policy beneficiary designation in which the life insurance benefits are divided among a class of beneficiaries, typically the children of the insured. Best explanation is an example: An insured has two children, and each of those children have two kids. If his children are listed as equal primary beneficiaries, they split the proceeds 50/50. However, if one child predeceases the insured, the surviving child received 100% of the proceeds. If the bene designation is the insured's children per stirpes, they still split the proceeds 50/50 if both alive when the insured dies. However, if one child predeceases the insured, the surviving child only receives 50% of the proceeds and the children of the deceased child will each get 25%, splitting the 50% that was designated for their deceased parent.
Which age group has life insurance?
A life insurance policy can be had from 0 age (child policy) to a person of maximum 65 years (pension policy).
Uninsured child borrows parents car that is insured and child has a wreck does insurance company have to pay out?
As long as he had permission, then yes. If you are going to try to claim that he/she didn't have permission, that's a whole other story.
