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Life Insurance

Life insurance refers to a contract between the insured and the insurer, where the latter agrees to pay a beneficiary a specific amount of money upon the death of the insured.

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How can i find a old life insurance policy issued by the Occidental Life Insurance in the over 70 years ago in Illinois?

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Asked by Wiki User

You can start by contacting the Illinois Department of Insurance to see if they have any records of the policy. Additionally, you can search for any documentation or paperwork that might have information about the policy, such as old bank statements or correspondence. If possible, try to track down any family members who may have knowledge about the policy.

What is a property limiting age superannuated contract?

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A property limiting age superannuated contract is an insurance policy that provides coverage only up to a certain age. Once the policyholder reaches a specific age, the coverage will either reduce or terminate completely. These types of contracts are designed to manage the risk exposure of the insurer as the policyholder ages.

Where is the old Community Life Insurance Company?

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There are websites that list many companies that have been sold and are now under a new name. You may also find them by contacting the Insurance Board in the state where the policy was written.

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Life insurance means?

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Asked by Wiki User

Life insurance is a contract between an individual and an insurance company that provides a sum of money to named beneficiaries upon the death of the insured. This financial protection is designed to provide financial security for loved ones in the event of the policyholder's death.

What is the value of your life?

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The value of a life is immeasurable and cannot be quantified. Each person's life is unique and valuable in its own way, based on their experiences, relationships, contributions to society, and impact on others.

How do you research an old life insurance policy?

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Asked by Wiki User

To research an old life insurance policy, start by looking through the insured person's personal records, contacting their financial institution or employer, checking state unclaimed property databases, reaching out to the insurance company identified in any documentation, and hiring a professional locator service if needed.

Which one of the following policies has a guaranteed cash surrender value a. Endowment at age 65 b. 20 yrs level premium term insurance c. variable whole life d. traditional universal life insurance?

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Asked by Wiki User

All of the policies mentioned would have cash value with the exception of the 20 year level term. Although it might be some time before the cash value started to build up (likely years), and the variable and universal life would not have "guaranteed" cash value. The variable cash value is based on how your investment choices did, and the universal life could lose all of its cash value if you went a long time without paying on it. Short answer A. Here is the correct answer: Option A, C and D will both have guaranteed cash surrender values. Variables are securities and as such there are risks. In addition it can only be sold and counciled on by a registerd Rep. The 20 year term does not have any cash value unless the policy has a money back rider then it will. Now there are life settlement companies that given certain criteria may offer a better alternative selling the policy over cashing it in.

When does a whole life insurance policy mature?

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A whole life insurance policy typically matures when the insured individual passes away, at which point the death benefit is paid out to the designated beneficiaries. Some policies also have a maturity date when the policy reaches a specific age, such as 100 years old, at which point the cash value may be paid out to the policyholder.

Where is the 20th century guardian life insurance company?

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The 20th Century Guardian Life Insurance Company is a fictional company from the television show "Mad Men." It was created for the show and does not exist in real life.

Are annuities judgment proof in the state of Georgia?

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Asked by Wiki User

In the state of Georgia, annuities are generally protected from creditors and are considered to be judgment proof if they meet certain criteria set by state law. This protection applies to qualified annuities, which are typically purchased through retirement accounts such as IRAs or 401(k) plans. Non-qualified annuities may have limited protection under certain circumstances. It is advisable to consult with a legal professional for specific advice on protecting assets from creditors in Georgia.

What happens to a life insurance policy if you stop paying premiums at age 70?

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Asked by Wiki User

If you stop paying premiums on a life insurance policy at age 70, the policy may lapse or be terminated depending on the type of policy and its terms. Some policies have a grace period during which you can still make payments, while others may have a paid-up value or cash surrender value that you can access. It's important to review your policy documents or contact your insurance provider to understand your options.

Is it possible for a healthy 70-year-old man to get 300K in life insurance?

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Asked by Wiki User

Yes, it is possible for a healthy 70-year-old man to get $300,000 in life insurance coverage, but the premiums may be high due to age. The insurance provider may require a medical exam and assess other risk factors before approving the coverage.

Can criminal be a beneficiary on a life insurance policy?

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Yes, a criminal can be named as a beneficiary on a life insurance policy. There is no legal restriction preventing a criminal from being designated as a beneficiary. However, some insurance companies may have their own policies or clauses that restrict payouts to beneficiaries involved in criminal activities.

What is crummy?

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The term "crummy" is an informal way to describe something that is of poor quality, unpleasant, or unsatisfactory. It is often used to express dissatisfaction or disappointment.

What is a crummie?

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A crummie is a British slang term for a person who is annoying or ineffectual. It can also refer to something that is of poor quality or inferior.

What can be done to deter someone from committing a crime?

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Some ways to deter someone from committing a crime include increasing the likelihood of being caught through increased surveillance, implementing harsher penalties for offenders, and providing support and resources for individuals at risk of criminal behavior. Additionally, improving social and economic conditions in communities can help reduce factors that contribute to criminal behavior.

How would your life be better as a result of the issue 'What are the most under served issues or sectors in your life as a mature in age person' being addressed?

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By addressing the most underserved issues or sectors in my life as a mature person, I would experience improved quality of life, access to tailored resources and support, and a better overall sense of well-being. This would lead to enhanced opportunities for personal growth, fulfillment, and greater resilience in facing life's challenges as I age.

What limitations are placed on the insured by the insurer regarding to whom the ownership of the policy may be transferred?

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Insurers typically limit policy ownership transfers to individuals with an insurable interest in the insured person, such as close family members or business partners. The new owner must also meet the insurer's eligibility and underwriting criteria. Transferring ownership may require consent from the current policyholder and completion of necessary paperwork.

What type of life do you forsee in the year 5000?

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It is impossible to predict with certainty what life will be like in the year 5000. However, advancements in technology, space exploration, and climate change mitigation could significantly impact the way humans live and interact with the world. It is likely that humans will have made great strides in terms of sustainability, interplanetary travel, and possibly even merging with artificial intelligence.

Categories of literature?

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Literature can be broadly categorized into fiction (including genres like novels, short stories, and plays) and non-fiction (including genres like essays, biographies, and memoirs). Within these categories, literature can further be classified into various genres, such as science fiction, crime fiction, poetry, history, and philosophy.

What are some examples of important documents?

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Some examples of important documents include birth certificates, passports, wills, property deeds, and marriage certificates. These documents are crucial for identity verification, legal matters, and establishing ownership or rights.

What is value of life magazine1964?

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The value of a Life magazine from 1964 can vary depending on its condition, specific content, and any unique features it may have. On average, a Life magazine from 1964 can be worth $10 to $30. However, rare issues or those featuring historical events or iconic figures may fetch higher prices.

What is the difference between guaranteed basis and current basis insurance?

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Guaranteed basis insurance provides a fixed monetary benefit to the insured regardless of the actual expenses incurred, while current basis insurance adjusts the benefit amount based on the actual expenses. Guaranteed basis insurance offers a predictable payout, whereas current basis insurance offers more flexibility but the benefit amount may vary.

What kind of insurance does the Catholic Family Life Insurance offer?

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Catholic Family Life Insurance typically offers products such as life insurance, disability insurance, and long-term care insurance that align with Catholic ethical and religious principles. They may also offer additional coverage options such as burial insurance or accidental death and dismemberment insurance.