Life Insurance

Rebating refers to monies paid to insureds for placing their insurance business with a given insurer. Due to fair trade practices, it is restricted and carries heavy fines and penalties. The intent of the rule branches out to gifts and favors.

Yes, you can buy life insurance on your sibling. A brother and sister have insurable interest in each other because of blood or marriage. Therefore, siblings can buy life insurance on each other because there is an insurable interest in one another. An insurable interest must exist at the time the life insurance contract is purchased, not necessarily at the time of loss.

Hi,

I have some few knowledge regarding this nonforfeiture. I had only known that Standard life insurance and long-term care insurance may have nonforfeiture clauses. The clause may involve returning some portion of the total premiums paid, the cash surrender value of the policy, or a reduced benefit based upon premiums paid before the policy lapsed.

If you have any attorney issues regarding this then Law Office of Sebastian Ohanian is one of the best options for you.

Thank you

In general, the age of majority in your state will dictate when you are of legal age to buy a life insurance policy on your own. Again in general, you would need to be the same age to sell it.

If you are not working with an agent for the company that issued the policy, you need to locate one. An agent can effectively explain what your options are.

What you can change about the policy, and if any changes are possible depends on what you want to change, and who you are in relation to the policy. The owner may be able to change the beneficiary. The owner may be able to change the type of policy (typically called a "conversion" if the policy permits it). The contract may allow other changes. But it's a complex legal document. Find an agent to explain what you've got and what options are available.

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 frequency.

Hi David,

Redeeming cash can be accomplished through a simple phone call to the policyholder service department of your company. It can be done as soon as cash has accumulated, but must be done in full recognition of the impact the loss of cash will have on both the cash account and the survivor benefit.

Regards,

Steve Kobrin www.stevenkobrin.com

Define your question better.

Think person's question is self explanatory: Evidently they have an "universal life"

style policy and they want to cash it in for the "cash value"

You first have to submit the correct forms for your Insurance company and might have to get it notorized if you do not have original paperwork: once the paper work is RECEIVED

by them it should take 7-10 days for them to process it. and add a couple days for check to get sent to you: I would ask the individual insurance company as some companies

only send them out the 1st and 15th and say it is due to the interest being credited at

those dates.

The insuring company provides us the insurance policy based on the premium amount we pay them on a regular basis. This can be monthly or quarterly or half yearly or even annual.

A policy lapse means that the life insurance contract between the insurer and the insured (YOU) is terminated.

A policy covering something over which the government has power Legitimate policy is a virtue of political institutions. This is what makes the decisions about laws.

Stroke is not at all an accidental death.If your life policy covers critical illness covers including stroke, you are entitled to such benefits.

American General Life & Accident, which is part of AIG took over in 1997.

Contact the insurance company and request a change of beneficiary form. They will mail the form to the policy owner. You fill it out and mail it back to the insurance company so they can update your life insurance policy.

Who bought ranson industrial life insurance company

It's a payment made to the policy owner by the mutual insurance company when there is a profit. The policyholders are the owners of a mutual life insurance company and they share in the profits by receiving dividend payments from the insurance company.

Obviously the claim will be entertained in case of sudden death of the policy holder in whole life policy.

An agent's service is vital specially during lodgement of claim (death or maturity). During normal circumstances, after-sales service through out the year is necessary pre-condition, for which an agent is paid commission.

Well, if it is a Term Assurance Policy, there is no maturity benefit. However, in Endowment Policy, you are of course entitled to maturity benefit.

For life insurance, I show it in Lafayette, LA 70508

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