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What does Viatical settlements mean to life insurance?
Viatical settlements, or life settlements, are done when people have a terminal illness. In such a case, the person will sell their life insurance policy to obtain ready to use cash.
How do you find insurance policy?
Depending on which type of insurance you are looking for, I would just do an online search for the type of insurance you need (car insurance, life insurance...) and check that the insurance company or brokerage agency has a good rating. Two ratings we use are BBB and AM Best for insurance companies and BBB for brokerage agencies. Brokerage companies usually offer several insurance companies. mcdlife.com
What different types of insurance are there?
There are mainly two types of Insurance, Life Insurance and General Insurance. Life insurance deals with the Securing the future of dependants of life assured. General Insurance deals with insurance of all other things life fire insurance, motor insurance, marine insurance etc.
How much commission to insurance agent on Universal LIfe policies?
In Canada, in the case of a brokerage (independent business that can sell products from a number of different insurance companies) usually 60% of the 1st year's premium goes to the insurance brokerage (business that the aggent works for) and then the agent may get 60% of that . If a brokerage does enough volume, they may qualify for a "bonus" from the insurance company and the agent may receive a portion of this too, upon the descretion of the brokerage.
Is BGA a Broker General Agent in insurance?
In the Life Insurance World, BGA generally refers to "Brokerage General Agency"A brokerage general agency establishes and manages contracts with the life insurance companies. The agency then contracts with individual agents who go through the agency for access to the life insurance carrier's product.Many insurance carriers will not establish direct contracts with individual brokers and therefore require that individual agents work through a Brokerage General Agency. By aggregating the production of the producers in its agency, the brokerage general agency can then negotiate a higher pay out for its agents.Popular carriers that work in the brokerage market include:John HancockGenworthINGSun LifeAn example of a brokerage general agency would be, First Heartland Corporationhttp://www.joinfhc.com/bga.cfmThe individual agent is generall called the "broker" or the "agent."
What is Hughes life insurance?
The following deals with 'Hughes Life Insurance': www.canadaterm.ca It is a company located in Canada.
Where can I find a life settlement broker in Greensboro, NC?
Allstate Insurance has several offices with brokers that will handle life settlements. Nationwide Insurance in Greenboro is an option also.
What are some of the services provided by Guardian Life?
Guardian Life is a finacial advisor as well as a insurance provider. They provide Life Insurance as well as Disability Insurance if your get hurt and can not return to work. The Financial services include Brokerage Accounts, Investment Advice, Annuities, Mutual Funds and IRA's etc.
What if you can not pay on life insurance policy anymore?
Consider a Life Settlement to see if you qualify. Try selling it before it lapse. Research Life Settlements.
What does insurance law deal with?
This branch as law deals with property, life, and liability insurance; fire and automobile insurance forms; and the regulation of insurance companies' policies and practices.
What type of insurance does Hartford deal with?
The Hartford Insurance Company deals with may different types of insurance, however their primary focus is that of life insurance for elderly people.
Are life settlements legal in Ontario?
No but as a resident of Ontario, you can invest in US resident life insurance policies through an investment company that holds a securities license and offers this service. So selling your own policy or buying another Ontario resident's insurance policy is a no no. But investing in a US policy through a licensed company in Ontario is legal.
