Dear Debbie, I was previously employed for Stiller & Banes Insurance Co. in Atlanta, Ga. We were repsonsible for filing insurance claims and suits for major conglomerations and for personal subscribers such as yourself. A few times in my tenure, I witnessed the cancellation and termination of life insurance policies due to non-payment of premiums. Thre are two types: Those that you may file on a dependent (such as your son, daughter, sister, etc), and those that you may file on a spouse (your husband/wife). Those that are filed on your dependents, (aka, anyone other than a spouse), are called extended claims. Those that are filed on spouses are called civil claims. When payment(s) is/are not received, they are cancelled, and your plan/premium/decadent is known as "Terminally Inactive Due to Non-payment of Premiums of Subscribed Plan".
These are referred to as "premiums".
Someone is able to compare the premiums for different vehicle insurance companies at a company called Progressive, where one is able to compare other top car insurance rates.
iiDK jAjAjA
excise tax
Modified Life Insurance is Ordinary Life Insurance under which premiums are calculated so that the first few years of premiums are less than normal, and subsequent premiums in later years are higher than normal. This type of coverage may also be called Graded Premium Whole Life Insurance under which insurance premiums are lower than normal for the first few years, then gradually increase for the next several years until they become level for the remainder of the policy.
That is called rebating and it may or may not be illegal in your state. Check with your local department of insurance.
It usually doesn't unless you pay the premiums. In most cases you can do something called COBRA which extends the insurance for up to six months, as long as you pay the premiums. It is rather expensive.
They are called 'Limited Payment Life Insurance Policy' where premium has to be paid for a specific time period.
The amount that is paid for any kind of insurance is called "premiums". The same term applies whether an employee or employer pay for the insurance.
"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.
There is a rider that comes with some life insurance policies called a waiver of premium rider where the insurance company will pay your premiums if you become disabled. Here is a good article that describes how this works:
There is no company called Cobra Insurance. What you're thinking about is COBRA insurance, which stands for Consolidated Omnibus Budget Reconciliation Act, which for most people its main usage is allowing you to basically pay your premiums for your old job's insurance when you leave the company until you get new insurance or 18 months.