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Life Insurance

When a new will is made does the life insurance company need to be notified?


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2011-07-26 02:01:26
2011-07-26 02:01:26

No. they do not. The distribution you make of your personal assets upon your death is none of the insurance company's business, or concern.

However, if you wish to change the beneficiary of your life insurance policy - yes - they MUST be notified of that fact, or the proceeds of your life insurance policy may go to someone whom you do not wish to have them.

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When the policy matures, an attempt must be made to contact the policyowner at the last address the insurance company has. But if they have moved and not notified the insurance company, after a few months, the maturity value of the policy will be sent by the company to the State that they operate in as unclaimed property. If the policy simply ends - such as with a term life policy - the policy will state the date when coverage ends.

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.

Yes if you made a false statement to them when taking out the policy.

Call the insurance company and ask that they mail, fax or email a claim form to you. You can then make a life insurance claim as soon as you are able to obtain a certified copy of the death certificate which is required to make a claim. The insurance company will then issue a check made payable to the named beneficiaries or to the estate if there are no named beneficiaries.

SAMPO is a Finnish insurance company that is made up of more than one company. The companies that came together to make Sampo are the parent company Sampo PLC, If P & C Insurance company and Mandatum Life.

Single premium life insurance is life insurance coverage in which one premium payment is made and the life insurance policy is fully paid up with no additional life insurance premium payments required.

No, there is not. Each company has its own list. It is personal information and not made public.

What is the penalties in case of wrong data communicated about your company to the insurance company that made the policy?

If a man or woman are legally married and one of them dies say of a heart attack within 3 seconds of their marriage the other one can collect life Insurance if the will was made previous to their getting married. If no will was made good luck on getting an Insurance Company to pay you.

Anytime you make a claim with your own insurance company against someone else's company or their company directly, the company taking the claim by law has to fully verify and investigate the claim being made. Not only that, no insurance company in their right mind would pay out insurance claims without checking them out first.

You are to bring the error to the notice of the Insurance Company,by submitting an official letter, to be acknowledged by them. The request should be to make necessary correction/rectification of the error and mail you the amendment copy, which should be an integral part of your original life insurance policy bond.

An accident insurance company is basically any insurance company- since thats what they are made for- accidents. Well known insurance companies are Geico, State Farm, and Nationwide.

Life Insurance Companies do not cover suicide, subject to the "Suicide Clause" limitation in all life insurance policies. The suicide clause stats that no death payment will be made if an insured commits suicide within the first two years (one year in Colorado) that the policy is in force. This clause protects the insurance company against adverse selection - the purchase of a life isnurance policy in contemplation of a planned death in order for the beneficiary of the life insurance policy to collect the life insurance proceeds.

A dividend represents a distribution of earnings made by a mutual life insurance company to its policyholders. From the standpoint of corporate structure, a mutual company is owned by the policyholders--therefore, they benefit from the earnings. The distribution may be in cash, by additional paid-up insurance, or in some other form. The insureds designate how they want dividends distributed to them when they apply for insurance through the insurer.

In most cases an insurance policy for a car goes into effect the moment the first payment is made. In the case of medical insurance there might be a waiting period based on the insurance company. Life insurance usually goes into effect after the first payment is made, but there might also be a waiting period before benefits will be issued.

Report the forgery to your local policy department and the insurance company and you will probably be made whole.

According to reviews of this car insurance company, this auto insurance company is not satisfactory in the least. Several customers have made claims regarding its terrible service and have been known to renew your policy without your express permission.

I believe National Savings Life is now under Americo. This information is taken from notes made by a family member who recently passed away. His notes in 1991 indicated National Savings Life Insurance was then Victory Life Insurance, which is now under Americo. I can't guarantee this is correct but I hope it is helpful.

Can you go back and see if you can find any paperwork at all? Find any trail of the payments you made? Maybe your bank can help. Where did you buy it? Go back and talk to the agent. Even if you did find out what company, the policy is probably in a laps and to reinstate it will cost more than buying new insurance uinless your health has changed for the worse. You can call the insurance company and they usually can find your policy by social security # and DOB.

yes,there is certain types of difference in regular insurance and military insurance, in a country like USA,they provide many insurance company which are made for only military insurance,because those military person do lot of lot things for country, military insurance company worked in 2 ways 1. a insurance company which is made only for military insurance ,which is provide by their government of country ,by that person gets advantages,person gets reduction on insurance fees 2. usual other insurance company which involve all kind of insurance like car insurance,low cost car insurance,no credit car loan insurance, and military car insurance

Question - What type of life insurance pays dividends? Answer - Dividends are paid by participating life insurance policies. The word "participating" suggests that the owner of the policy would get a dividend on the policy if the company earns one. A life insurance company cannot guarantee a dividend as this depends on the performance of the company. Investment performance as well as operating costs come into play. Whole life policies are participating policies. Details: Question - What are "equity" linked policies? Answer - Equity linked policies are life insurance policies that, to put it simply, are hooked up with an investment mutual funds for example. Examples are variable universal life insurance policies and variable life insurance policies. These policies are sold only by "prospectus". The agent must have an NASD license to sell these policies. This license is different from his regular life insurance license. Details: Question - What are nonforfeiture values? Answer - If at any time in the future a policy owner wishes to terminate premium payment of a participating life insurance policy policy there are certain option made available by the life insurance company. S/he may surrender the policy for its cash value, extended term life insurance may be purchased with the cash values or the cash values may be applied to purchase a reduced paid up policy. Details:

Yes. Life insurance is a 'cash' deal, as long as you can pass the physical and pay for the insurance, your financial background doesn't matter. Actually qualifying for insurance does include qualifying financially in addition to medically. If you are applying for a very large amount the insurance company may ask you to justify that and in those larger amounts credit checks are made.

it means "are the loss payments my insurance company made on my vehicle recoverable from the other insurance company?" If something is subrogatable, it means it is leagally recoverable from someone else. In insurance, if you are in an accident and not at fault, your insurance company has the right to subrogate against the other insurance carrier to recoup the money they paid out to fix your vehicle.

If you have an auto accident on company time, whether your employer is "responsible" depends on what arrangements have been made in advance and what you mean by "responsible."Were you driving a company vehicle?Were you engaged in company business or on an errand for your own benefit?Were you complying with company policy regarding distracted driving, hands-free cell phone use, etc?If you were driving your own vehicle on company business, was that a routine process and had you notified your insurance company of that practice?

Yes. Suggestions are usually made from prior experience with certain life insurance companies (as any other suggestions & referrals). I would say the the life insurance companies are mostly fair as long as you don't lie on your application. The horror stories you hear (they wouldn't pay...) usually come from some kind of untruth that is being investigated. For the most part, the life insurance companies are fair and true.

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