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What else can I help you with?
What is the earthquake insurance deductible for my policy?
The earthquake insurance deductible for your policy is the amount you have to pay out of pocket before your insurance coverage kicks in.
What type of insurance policy should I consider to cover your assets?
You should consider a comprehensive property insurance policy to cover your assets.
What factors should I consider before purchasing a life insurance policy?
Before purchasing a life insurance policy, consider factors such as your financial obligations, dependents, income level, health status, and long-term financial goals. Evaluate the coverage amount, type of policy, premiums, and the reputation of the insurance company. It's important to assess your current and future needs to ensure the policy meets your financial objectives.
How do you keep my policy as paid up?
A life insurance policy becomes paid up when all premiums as defined in the policy bond have been paid in full.A life insurance policy ought to be paid up before maturity for smooth disposal of maturity amount to the policy holder or its nominee. Premiums for a life insurance policy should be paid up for a minimum period of 3 years to attract surrender value.
Which insurance policy is considered primary if I have two policies?
If you have two insurance policies, the policy that is considered primary is typically the one that pays benefits first before the secondary policy.
What is the executor on a life insurance policy?
The Policy Holder of a life insurance policy is the executor of the said policy.
Does home insurance continue to the executor after a person dies?
The executor should contact the insurance company and notify it of the death of the owner of the policy.
Can the executor get the amount of the life insurance policy?
NO.. unless the policy does not have nomination. Only nominee will get the proceeds of life insurance policy.
Can the beneficiary on a life insurance policy be changed by the executor?
No, the beneficiary of a life insurance cannot be changed by the executor unless he's the owner of the policy. The proceeds of a life insurance policy, unless the benefciary of the policy is the estate, are not subject to any conditions of the will. It is outside of probate.
If the beneficiary of a life insurance died before the policy holder and there was no contingent beneficiary does the life insurance go the next of kin or to the estate?
The life insurance proceeds must enter the estate, The Executor of the estate will then determine how, when and to whom it should be dispersed.
Can a executor be beneficiary of a will and insurance policy of the decedent?
Yes, it is very common that a member of the family be named as executor.
Can you get homeowners insurance if the owner of the house is deceased?
Yes, The Heirs can buy the policy or the Estate executor can buy a home insurance policy.
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.
What are common questions about life insurance that one should ask the life insurance agents before buying a policy?
Common questions about life insurance that one should ask the life insurance agents before buying a policy are if it is term or whole life insurance and how much it cost.
Legally does the life insurance carrier have to notify someone who is named as an executor of a life insurance policy if they are different than the beneficiary or spouse?
Although there is no legal requirement in some states, an insurance company will answer questions from the executor of an estate, owner of the policy, or whoever had power of attorney over the policy at the time of the insured's death. The beneficiary has no right to any information on a policy until a claim is to be paid to them.
Need insurance that will cover inmates in prison?
It will be difficult to get a policy that will cover, but a life insurance policy in force before incarceration should stay in force.
Can your brothers wife keep proceeds from insurance policy as executor of his will?
If the estate is listed as the beneficiary of the policy, the executor is bound to follow the wishes of the deceased, in which case the proceeds would go to the "residuary legatee" if no other claim is made on it in the will. If the insurance policy names your brother's wife as the beneficiary, then it goes directly to her and is not part of the estate; in fact, if the beneficiary is not the estate, it should go directly to the beneficiary in any event.
