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When a life insurance policy is cancelled and the insured selects term nonforfeiture the cash value of the policy will be used to purchase term insurance what happens to the face amount?
Wiki User
∙ 12y ago
face amount reduces and the policy is made for paid-up value
Wiki User
∙ 12y ago
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When a reduced-paid up nonforfeiture option is chosen what happens to the face amount of the policy?
IT IS REDUCED TO THE AMOUNT OF WHAT THE CASH VALUE WOULD BUY AS A SINGLE PREMIUM
What can you do to reinstate a life insurance policy when it has been cancelled due to a payment received 10 days after grace period?
Ask the Insurance Company if there is anyway they will reinstate and see what happens. Check your ACTUAL policy and see if you have any protections or guarantees.
Is it necessary to purchase mortgage payment protection insurance when buying a home?
"Mortgage payment protection insurance is essentially a form of life insurance. If something happens to you, your mortgage payments will be covered under the terms of your insurance plan. This insurance is definitely not necessary, and, in fact, a more standard plan like term life insurance may get you a better value for your dollar."
Can you purchase life insurance on your ex husband you have 2 children and he refuses to buy any?
People will only buy insurance for 3 reasons; Love, Character and a Divorce Decree. Sound like he has none of those. You should get a court order forcing him to buy insurance to protect his child support payments making you the beneficiary. Likewise you should have some if something happens to you, despite how much you hate him. You can make the purchase of life insurance on him if he will agree to sign the application. He is a dirtbag if he won't even let you do that! 4lifeguild
What happens if you never paying credit card debt?
You are likely to have your wages garnished. Your credit cards will be cancelled and liens may be placed on property.
What happens to your registration if your car insurance is cancelled?
maybe if you use your car to travel, and then the insurance is cancelled they arrest the owner of the car.......
What happens when your car insurance is cancelled by the insurance company?
What happens is that you get a new insurance policy, possibly with another insurer. Any unearned premium will be returned to you by your insurer.
What happens when your homeowners insurance gets cancelled?
Most people just buy another insurance policy somewhere else. That is usually what happens.
What happens when you have insurance at the time of an accident and then it gets cancelled does the insurance still cover the accident?
Yes it does. The cancellation of an insurance policy is not retroactive.
What happens if your car insurance is cancelled during a pending claim?
The claim would still be processed - as you were still insured at the time of the incident !
If i buy something from amazon.com can I get insurance on it?
If you purchase a product or service through amazon.com they do offer insurance to cover your item in case something happens. You may add this on to your cart at the end of the purchase.
When a reduced-paid up nonforfeiture option is chosen what happens to the face amount of the policy?
IT IS REDUCED TO THE AMOUNT OF WHAT THE CASH VALUE WOULD BUY AS A SINGLE PREMIUM
What happens if you get a no insurance ticket then purchase insurance the same day?
You will still have to pay the tickets. I just went through this. Your licnese will get suspended and you will have to pay 375 to reinstate it and 250 for having no insurance. they will call your insurance agent and get the time you got your insurance.
Can I purchase insurance for a car that i do not own?
Well, you may indeed, but you are in responsibility! Whatever happens to the car, you will have to face the consequence!
What can you do to reinstate a life insurance policy when it has been cancelled due to a payment received 10 days after grace period?
Ask the Insurance Company if there is anyway they will reinstate and see what happens. Check your ACTUAL policy and see if you have any protections or guarantees.
Is it necessary to buy catastrophic medical insurance for people covered by regular medical insurace?
Catastrophic medical insurance is insurance only for large payments when something major happens to you. If you have regular health insurance, you do not need to purchase catastrophic insurance as well.
Why would someone wish to purchase travel insurance to the USA?
One would wish to purchase travel insurance for many reasons including refund of prepaid vacation should something happen to keep you from going, baggage loss, and medical expenses. Travel insurance can be a big help when the unexpected happens.
