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Can a spendthrift clause be added to a life policy once it is in force?
Generally, a spendthrift clause cannot be added to a life insurance policy once it is in force. Such clauses are typically established at the time the policy is issued and are intended to protect the death benefit from creditors and to control how the benefits are distributed to beneficiaries. If a spendthrift clause is desired, it usually needs to be included in the initial policy agreement or a new policy may need to be issued with the clause included. Always consult with the insurance provider for specific options and implications.
Is a mortgagee clause considered a lien?
No. The mortgage is a lien. The mortgagee clause generally refers to a provision in the homeowner's insurance policy providing that loss to mortgaged property is payable to the mortgagee named in the policy and promises advance written notice to the mortgagee of policy cancellation.
A Spendthrift clause in a life insurance policy is designed to protect?
the beneficiary from giving credits access to their inheritance
What insurance policy will pay off your car in the event of your death?
A life insurance policy with a clause for loan or car debt repayment will pay off your car in the event of your death.
Can an insurance company refuse to pay on a paid up policy?
Not if the insured died and it was beyond the 2 year contestibility and suicide clause period.
Where do you find in your policy if you have this clause?
do all bcbs policys have a subrogation clause
Is 72 hour clause in engineering insurance policy advantage or disadvantage?
The 72-hour clause in an engineering insurance policy is an advantage to the homeowner and not a disadvantage.
What is incontestability clause in life insurance policies?
You can find this by looking at the "Incontestable Clause" in your life insurance policy. The "Incontestable Clause" states that after the life insurance policy is in force for two years, the insurance company cannot void it because of misrepresentation or concealment by the insured in obtaining the policy.
Is there a suicide clause on a group life insurance policy?
no
What is clause a in insurance?
Clause implies the terms and conditions of the particular policy by which the same is governed and both parties should abide by the said clauses for smooth transition of the policy.
How long does a life insurance policy have to be in effect where it cant be questioned?
Refer to the Incontestable Clause in your life insurance policy. The Incontestable Clause states that after the policy is In Force two years, the company cannot void it because of misrepresentation or concealment by the insured in obtaining the policy.
Can a spendthrift clause be added to a life policy once it is in force?
Generally, a spendthrift clause cannot be added to a life insurance policy once it is in force. Such clauses are typically established at the time the policy is issued and are intended to protect the death benefit from creditors and to control how the benefits are distributed to beneficiaries. If a spendthrift clause is desired, it usually needs to be included in the initial policy agreement or a new policy may need to be issued with the clause included. Always consult with the insurance provider for specific options and implications.
If you receive a ticket in Georgia for 83 mph in a 70 mph zone will this affect your insurance rates?
It might if your carrier finds out about it. Most insurance companys (after the inital policy has been written), will rule 'clues' or driving records periodically on their insureds. If that happens and your ticket is found, it might affect your rates, and it might not, it will depend on your companys underwriting rules, if you are worried about it call your companys policy services dept and ask them.
Which constitutional clause below is not among those tools employed by federal government in nationalization of public policy?
Commerce Clause
What type of clause forces the expiration of a program or policy after a specified number of years without congressional reauthorization?
Sunset Clause
What companys offer car breakdown cover?
AAA is one of the most popular companys that offer coverage for your car if it breaks down, but many insurance companies also may include coverage in your insurance policy.
Is a mortgagee clause considered a lien?
No. The mortgage is a lien. The mortgagee clause generally refers to a provision in the homeowner's insurance policy providing that loss to mortgaged property is payable to the mortgagee named in the policy and promises advance written notice to the mortgagee of policy cancellation.
