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What else can I help you with?
Where can someone get a premium life insurance policy?
The places to get a premium life insurance policy are many. Among some of the more popular choices are: LV, Post Office, Sun Life, Aviva, Scottish Widows and many more.
WHAT policy provides the most life insurance for the same premium?
Term insurance will provide the highest benefit for the same premium, but for a limited period of time (hence the name - TERM).
At renewal the premium for a renewable term policy is based on what?
It is based upon the policy itself. You probably don't want to renew a term policy after the initial period of time if you are healthy it will be better for you to get a new policy. New business rates will be much better than what is set up within the policy for renewal periods.
What are the disadvantages of a renewable term life insurance?
Renewable term or ART (Annual Renewable Term) - premium increases every year as you get older. A level term policy however has level premiums for the length of the term. Also, you can also get a Return Of Premium level term, and get your money back at the end of the term if you outlive your policy. Other option is to convert your term policy into a permanent type policy, like whole life or universal life. An experienced agent can help with this.
The econmic policy that manages the business cycle by changing government spending is called.?
Fiscal policy
How long to pay insurance premium to Insurance Company after accident?
In general, insurance policies will have a grace period within which premiums can be paid after the regular due date. If the premium is paid within the grace period, coverage continues as normal. If not paid by the end of the grace period, the policy lapses. If a claim occurs after the policy has lapsed, there will be no coverage. The policy may contain language limiting your ability to make a claim if the premium has not been made on time, although the grace period has not yet expired. Therefore, the precise answer to your question will be dictated by tje language of the policy. In all events, you should certainly make the premium payment before the grace period expires and the coverage lapses for non-payment of premium.
How many times do you have to pay the premium?
The number of times you need to pay the premium typically depends on the terms of your insurance policy. Most policies require premium payments on a monthly, quarterly, or annual basis. If the policy is canceled or lapses, you may need to pay the premium again to reinstate coverage. Always refer to your specific policy documents for details on payment frequency and requirements.
How do you get refund from a lapsed policy?
Usually an insurance policy lapses when there is not enough premium paid or not enough cash value to keep the policy in force. So, if the policy lapsed, there is no refund owed to the policy owner if the policy had no "Return of Premium" or any cash value left. The premiums already paid into the policy were used to cover for the amount of time since policy issue until the moment it lapsed.
What happens to the policy once the term is up?
It lapses
Can you continue your laps policy?
When does a policy lapse?As long as we pay our dues on time the policy remains in force. The moment we stop paying our premiums the policy lapses and the insurance cover provided by the policy becomes nullified. A lapse occurs when premiums are not paid even during the grace period. The life cover continues during the grace period whose duration varies based on the type of policy and premium payment frequencyWhat can we do if a policy lapses?Most insurance companies have an option wherein we can revive the policy by paying a small penalty amount. Even after the grace period is over, we can pay our premiums with a small penalty which the company takes as charges for not paying the premium on time and revives the policy
What do you do if your insurance lapses during an accident?
Your insurance is either valid on the day of your accident or it isn't. If you are asking what happens if the policy was valid on the day of the accident but lapses before the claim is settled then the coverage that was in effect the day of the accident still applies. If your policy was not in effect the day of the accident then coverage will not apply.
What happens when you don't pay your insurance?
It lapses which means it cancels. Most insurances will do this after 30 days of unpaid premiums but some can be as quick as 1 day late (cobra) and some allow up to 90 days (Aflac). If a policy lapses, you might have reinstatement or reactivation provisions. Reinstatement is where they will activate the policy with lapse in coverage and Reactivation is where they will activate the policy without lapse in coverage by accepting payment for back premium. Ask about both and your options.AnswerIf you do not pay your premium two things may happen: If it is a term policy, it will lapse;If it is any type of a cash value policy, the premium will be taken (in most cases automatically) from the cash value. If the cash value is not sufficient, the policy will lapse.Before any of this happens though, the insurance company you are with will send you a notice that will tell you exactly how much you need to pay and by what date in order to keep the policy in force.
What is target premium?
Target premium is the amount that the agent's commission is based off of. It is neither the planned premium or minimum premium to keep the policy in force. Sometimes called the "commissionable premium."
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.
What happens when you want to stop paying premium on your item which you have insured?
If you don't pay the premium the policy will be cancelled.If you don't pay the premium the policy will be cancelled.If you don't pay the premium the policy will be cancelled.If you don't pay the premium the policy will be cancelled.
What happens to the money that was put in term life insurance if it is terminated because of non payment?
If the policy lapses due to non-payment, the premiums that have been paid into it are not refunded to the insured unless there was a "return of premium" stipulation in the policy itself. There is no other way for the insured to recover these premiums.
What is the periodic payments made to keep an insurance policy in effect called?
premium
