That could be an annuity, or a permanent life insurance policy.
As you have described it, this sounds very similar to an annuity.
Whole Life, Universal Life, as well as Annuities can be used for this purpose.
A Variable Annuity is an insurance contract in which at the end of the accumulation stage, the insurance company guarantees a minimum payment. The remaining income payments can vary depending on the performance of the managed portfolio.
Read your CONTRACT. You have to be in DEFAULT of the contract for the lender to repo. If you are current on payments, what else can you be in default of?? INSURANCE coverage?
As long as the contract is NOT in default, NO. Read the contract. Payments current, ins. current, no other defaults?
Instalments are payments for your debts which can be paid on monthly, quarterly or yearly basis or way to make payments. Annuity is insurance product which is contract between you and insurance company for your investments.
An insurance annuity is a financial product in the form of an insurance product according to which a seller makes a series of future payments to a buyer in exchange for the immediate payment of a lump sum or a series of regular payments prior to the onset of annuity.
A paid-up policy is a whole life insurance policy for which no additional premium / payments are required to keep it in force.
Yes, if other terms of the contract are breached, such as having no car insurance.
A fixed income annuity is a type of insurance contract where the insurance company makes payments of a preassigned amount to the holder of the annuity, the annuitant.
It's a payment made to the policy owner by the mutual insurance company when there is a profit. The policyholders are the owners of a mutual life insurance company and they share in the profits by receiving dividend payments from the insurance company.
Because it is provided for in the contract of insurance (policy) in which you entered. If the information that there was a co-pay (or a deductible) is NOT in your insurance contract, or was not made clear to you at the time you entered into the contract, then that could very well constitute a crime. If you believe you were defrauded by a company then you should cancel your health insurance policy and contact your State's Insurance Commissioner at once.
ALL of the other sources of worldwide income that you may be receiving or could be receiving that is NOT for your DISABILITY. If you are receiving social security disability insurance payments for your disability then you are receiving A TYPE OF DISABILITY INCOME. Or some other company paid or privately paid premiums of DISABILITY INSURANCE PAYMENTS that you could be receiving for your disability. It is possible for some of the amounts of the above types of disability payment could also become taxable income to you on your 1040 federal income tax return.
"An annuity lead is a contract made between the buyer their insurance company, insuring them future payments in exchange for a fixed sum of money. It is basically one prospect in life insurance, to ensure a person can keep on getting a stable income, such as in retirement or as a result of a lawsuit."
They can only LEGALLY repo your car IF you are in DEFAULT of the contract. That could be no payments, no insurance, using the car for an illegal purpose, ect. Is there any requirements in your contract that you may have not met? If you are NOT in default of the contract, call an attorney NOW. Good Luck
A life insurance policy is a contract issued by a life insurance company providing protection against the death of an individual in the form of a payment to a beneficiary. Premiums are paid by the owner of the policy to keep the life insurance contract "In Force". In exchange for a series of premium payments or a single premium payment, upon the death of an insured person the face value (and any additonal coverage attached to the policy), minus outstanding policy loans and interest, is paid to the beneficiary.
Usually the "face" or first page of the contract.
The primary function of insurance company is to provide protection from adverse events. The insurance companies accept premium payments in exchange for companies in the eventthat certain specified but undesirable, event occure.
An insurance annuity is a contract between an individual and an insurance company that is designed to meet long range goals such as retirement. With an annuity, a person gets their money back and then some in either a lump some or monthly payments.
Statute of limitations do not apply to settling of bills and payments. The limitations will be a part of the contract.
You could be held liable for the payments if the other party defaults. Your signing the contract is "insurance" for the lender that payments will be made, and they will consider you responsible if the primary party defaults.
it depends on the stipulations in your contract. in most cases any breach of cantract can be grounds for repo
Yes, Mortgage Insurance Premiums Payments do have to be es-crowed by the lender.
If you are receiving benefits from Social Security Disability Insurance (SSDI), child support can be taken from your SSDI payments. However, if you are receving Supplemental Security Income, that cannot be seized for child support.
The cost of the basic premium is cut into nine or twelve equal payments that are to be paid every month for that amount of time. And no deposit is ever required when you have this type of contract with the Insurance company you choose to use for your car insurance needs.
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