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What else can I help you with?
Can you reclaim PPI if the policyholder has died?
If is possible to reclaim PPI. Even if the policyholder has passed away.
When a policyholder moves into an area served by different bcbs corporation than the policyholder previously used the plan must?
cancel the policy
Does homeowner insurance cover theft on other address?
Usually as long as A). The item stolen is owned by the policyholder, B). The item was not stolen on another property owned by the policyholder that does not have insurance.
What is a satellite IRON number?
A satellite IRON number refers to the target level of reserves that an insurance company needs to maintain to cover its policyholder obligations. It is used to assess the financial strength and stability of an insurance company. The higher the satellite IRON number, the better prepared the insurance company is to meet its policyholder obligations.
Written authorization from policyholder for their insurance company?
Written authorization from a policyholder for their insurance company is a document that grants permission for the insurer to access specific information or take certain actions on behalf of the policyholder. This authorization is often required for processing claims, sharing personal data with third parties, or allowing agents to discuss policy details. It ensures that the policyholder's rights and privacy are respected while enabling efficient communication and service from the insurer.
What is the difference between life insurance and annuity?
Life insurance provides a death benefit to beneficiaries when the policyholder passes away, while an annuity provides regular payments to the policyholder during their lifetime.
What are the estimated reserves?
Not sure if this is a math/ statistics question. Reserves are assets you hold, but are not using immediately. There are oil reserves, mineral reserves (like gold reserves) and cash reserves. I think you need to rephrase the question for a proper answer.
Can a insured surrender a whole life insurance policy if you are not the policyholder?
No. Policyholder is the owner of the contract, he only has to surrender. But in extreme cases, where the owner is medically not fit (E.g. if he's in Koma), practice varied from company to company.
What are proven reserves?
What are proven-in-place reserves
How Actuarial Reserves are calculated Not the critical mathematical calculation part but what financial informationratios are used in the calculation?
Okay, this is the last time I'm trying to answer this. Actuarial reserves is the amount of money that the insurance company needs (rather, forced to hold by the regulator/government) to hold to protect it against the risk that the company is exposed to when it writes business. In other words, it is calculated to be the amount of money that will ensure that all contractual (financial and otherwise) obligations to the policyholder are met. In order to calculate this necessary amount, the company (actuaries) will make assumptions about the future. Financial informationratios? (if i understand what is meant) would be used to enable the company to classify the policyholder into a group so that an assumption can be applied to the individual. For example, one of the future assumptions necessary, is when the policyholder will die. A smoker will be assigned to a group, that is expected to die sooner, but that group would also be expected to keep their policy with the company for longer (i.e. wont surrender early) - since it will be hard for them to get better premium rates later (when they are older).
What is life contigency?
Life contingency refers to the probability of events related to human life, such as survival, death, or longevity. In insurance and actuarial science, life contingencies are used to calculate the financial risks and costs associated with insuring individuals against these events. It helps insurers determine appropriate premiums and reserves to cover policyholder claims.
A life insurance policy that pays whether the policyholder lives or dies is called?
A life insurance policy that pays whether the policyholder lives or dies is called a whole life insurance policy. This type of policy provides coverage for the policyholder's entire life and typically includes a cash value component that grows over time.
