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What else can I help you with?
Who collects when there's no beneficiary on a life insurance policy?
who collects the life insurance in a marriage when one spouse dies and theres no beneficiary on file
Is it fraud if a Life insurance agent receives a commission for a new policy then cancels it and does not return the commission?
A 'commission' paid to an insurance agent generally comes from the company that the insurance policy is placed with, NOT from the individual who bought the policy. If the agent knowingly, placed the policy with the intent of collecting the commission, and then immediately cancelled the policy then, yes, that would be fraud, unless his working agreement with the insurance company addresses it otherwise.
What is commission rate for home-owner's insurance?
The commission rate is the commission earned by the agent or broker who places the policy wit the company.
Can an illegal alien buy a life insurance policy?
Sure. There's no requirement on a life insurance policy that you are a U.S. citizen.
Is it illegal to pretend to be someone else in a insurance policy?
yes
Can life insurance agents split a sales commission?
Yes, they may split a sales commission with another who is also licensed for the line of insurance of the policy which was sold. Both must be licensed in insurance.
Can you take out a life insurance policy on any individual you wish to?
no. there are laws for life insurance policy and is illegal to take it out to any individual
Does dying while setting off illegal fireworks void a life insurance policy?
No, an accidental death would be covered by your life insurance 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.
Is auto insurance responsible if driver is drunk?
If your policy excludes acts during the commission of a felony then No.
Where can you get home insurance after your policy has been cancelled due to a claim?
You will have to start calling local insurance agencies. Someone will provide you coverage and if no one will you can call your state's insurance commission and ask about an assigned risk policy.
Is It illegal to take someone off my auto insurance policy without telling them?
no
