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Who can tell me if my son had a Life Insurance Policy- He is now deceased and before dying told a friend he had a policy but no company name given?
Wiki User
∙ 12y ago
You are going to have to find out what Life Insurance Company he had insurance with. There is not a database that has all policies listed. I would suggest that you look through his papers, any safety deposit box, and his financial records. Financial records would be the first place I would suggest. He had to pay the premiums for the policy. Most life insurance policies are paid by ACH withdrawal from a checking account. Look at his past bank statements and see if you can find a withdrawal for the same amount each month. This is assuming he had an individual policy. If he was working, he could have had a group life insurance policy. Contact his employer and see if he had a policy through them or an individual policy that was paid through payroll deduction. I hope these help and please accept my sincere condolences for your loss.
Wiki User
∙ 12y ago
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Is life insurance considered as the estate of the deceased?
only if there is no beneficiary named on the policy, or if the beneficiary(ies) deceased before the insured.
Is the executor of a deceased beneficiary entitled to the Policy?
In case of demise of the life insurance policy holder, only the NOMINEE is the beneficiary to get the amount. In case nomination is not done, the legal heir of the deceased person can apply before the insurance authority for the death benefit.
Medical condition that you had before you got a policy from an insurance company?
pre-existing
Does your insurance company have to notify you before they cancel your auto policy?
Yes. Depending on the state and for what reason the policy is being cancelled, this determines the number of days that prior notice is required by the insurance company to provide to the policyholder.
Can a spouse change there deceased spouses beneficiary name on a life insurance policy?
The owner of the policy can change the beneficiary of the policy. If the original beneficiary has died before the insured, the owner of the policy can designate a new beneficiary at any time.
How do you figure the amount of premiums paid into life insurance policy?
The premium is calculated on the basis of many factors. The insurance company will calculate the premium and inform you before you buy the policy.
How does an insurance company benefit from insurance?
When an insured purchases an insurance policy they pay the insurance company money for the insurance coverage. This money the insurance company collects is called insurance "premiums". The insurance company, using the law of large numbers, collects more money in premiums than it pays out in claims. The insurance also makes alot of its money by taking the money earned from premiums and then investing it. As we all know that Life insurance policy cash values are accessed through withdrawals and policy loans. However, withdrawals are taxable to the extent they exceed basis in the policy. Loans outstanding at policy lapse or surrender before the insured's death will cause immediate taxation to the extent of gain in the policy and hence benefits the company.
How can you find out if your deceased mother had a life insurance policy?
My best friends mother passed away last August. She had spoke of a life insurance policy that she had taken on herself years before she passed away,however no one in the family knows how to locate it. What steps do the family need to take to find this insurance policy?
Insurance company decides not to renew policy they must inform within how many days before the policy period ends?
If the insurance premia remains unpaid for over six months from the due date, the policy automatically lapses. You are to contact the Insurance Company for revival quotation, submit DGH Form so that the policy is renewed.
What is surrender value in accounting in joint life policy?
it is an amount paid by insurance company to person who has voluntarily terminate his policy before maturity
Can automobile policy issued to cover retroactively?
No. An insurance policy cannot be issued to pay for an accident that already happened. Why in the world would you think that an insurance company would take on a claim that happened before you purchased the policy.
What is meant by an excess on an insurance claim in terms of comprehensive car insurance?
The excess is what the policy holder has to pay before the insurance company starts to pay. If excess is $100 Damage is $300 the policy holder gets $200.
