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What else can I help you with?
Insurable interest with a life insurance policy must exist when?
At the inception of the contract.
When must insurable interest exist?
In life insurance it exist at the date on proposal form orat the inception
With a life insurance policy when must an insurable interest exist?
An insurable interest must exist at the inception (beginning) of the policy.
When must an Insurable interest exist for a property insurance policy?
Insurable interest must exist at inception of the policy cover and at the time of the loss.
Who can you take a life insurance policy on?
It is necessary to have an "insurable interest" in the life of the proposed insured. Stated otherwise, you need to have a "stake" in his/her continued life. That stake can be financial (such as a business partner), or familial (spouses have insurable interests in each others lives), or some combination. All insurance companies require the existence of an insurable interest, and most states (which regulate insurance) require that it exist at the inception of the policy.
Who would be able to have life insurance during ancient Rome?
Life insurance did not exist back then.
Does the Philadelphia Life Insurance Company still exist?
No, Philadelphia Life Insurance Company merged into Conseco Life Insurance Company in October, 1998
Can you take out life insurance on your parent?
Yes you can purchase life insurance on your parent. In order to buy life insurance on another person there must exist an Insurable Interest in that person. There does exist an insurable interest between siblings, spouses, and parents and children.
Which is the top ranking life insurance company of India approved by IRDA?
LIC Since inception in 1956, Life Insurance Corporation of India has been holding the top slot till date, even after 23 private insurance companies have entered into the arena.
United Insurance Company of America?
I am trying to contact United Insurance Company of America concerning a whole life policy with an inception date of 1965 and that was inforce a month after the named insured passed.
Can you take out a Life insurance policy on a parent?
Yes, you can take out a life insurance policy on a parent. There must exist insurable interest between the owner and insured of a life insurance policy. There does exist insurable interest between spouses, parents and children, and siblings. So, yes, you can buy life insurance on your parent. Your parent may need to sign the application, answer some health questions, or take a medical exam to qualify for life insurance.
When an insurance policy is cancelled inception date was any insurance ever provided under the contract?
I would need to know why the policy was cancelled back to inception. Sometimes this is called "flat" cancellation and it is extremely rare. Could you tell me why the insurer cancelled back to inception?
