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What is Section 7702 of the Internal Revenue Code?
Section 7702 of the IRC states that withdrawals from a life insurance contract can be made income tax free.
Where does the statutory definition of life insurance appear?
Section 7702 of the Internal Revenue Code
what does day insurance cover?
Day insurance coverage is dependent on the type of policy purchased. Usually, this policy covers any damage that occurs during the day it is in effect. On days the policy is not in effect, the benefits to not apply.
Is the mortgage on a house pay off upon death?
No. Not unless there was some type of insurance in place to that effect, either mortgage insurance of a life insurance policy.No. Not unless there was some type of insurance in place to that effect, either mortgage insurance of a life insurance policy.No. Not unless there was some type of insurance in place to that effect, either mortgage insurance of a life insurance policy.No. Not unless there was some type of insurance in place to that effect, either mortgage insurance of a life insurance policy.
How can you find out if a group policy is still in effect?
Phone the insurance company.
At what time does an insurance policy go into effect?
In most cases an insurance policy for a car goes into effect the moment the first payment is made. In the case of medical insurance there might be a waiting period based on the insurance company. Life insurance usually goes into effect after the first payment is made, but there might also be a waiting period before benefits will be issued.
How do you find out If you have gap insurance?
By looking at any GAP Insurance Policy you purchased and looking at the dates to see if it is in effect. If you bought GAP Insurance, you would have been given a copy of the bogus GAP insurance Policy.
How does your son DUI effect your insurance?
If he is on your policy it may result in increased premiums.
What is the periodic payments made to keep an insurance policy in effect called?
premium
Does a will have any effect on a life ins policy?
No, it does not. Life Insurance is a contract between the deceased and the insurance company. Unless the estate has been listed as the beneficiary, the will has no affect on the policy.
When insurance company make mistake on the name of policy holder?
Typos are not uncommon on an insurance policy. Such a typo has no effect on the coverages provided. Of primary concern is the Intent of the policy. If you have such an error you should contact your insurer to have the error corrceted.
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.
