Unless there are gift or estate tax consequences, then a $500,000 death benefit should pay the beneficiary an exact $500,000. Life insurance benefits will generally be paid income tax free.
If the situation is more complicated than it would have to be assessed differently.
Ask the insured if still alive, or check the policy. You can also call the insurance company and ask customer service if you are the beneficiary. You would need the policy number.
The cash value is the amount of money your insurance policy is worth to the owner of the policy if the insurance is cancelled and the policy terminated. The insurance company will mail a check to the to the policy owner upon policy termination or cancellation by request of the owner. I would strongly encourage you to consult a professional in your area before cancelling an existing policy. There may be other options and alternatives to access the value of the policy without cancelling the insurance policy.
i have a jcpenny life insurance policy #7L1514442. Would like any and all info on this policy
I assume you mean how can I check if the policy is in force, in danger of lapsing, or cancelled for lack of payment. I would simply call your agent and/or the insurance company's customer service.
I assume you mean how can I check if the policy is in force, in danger of lapsing, or cancelled for lack of payment. I would simply call your agent and/or the insurance company's customer service.
Insurance should. I would check with your information to see if your company can.
Ask the insured if still alive, or check the policy. You can also call the insurance company and ask customer service if you are the beneficiary. You would need the policy number.
You cannot. Policy number is mandatory for any formal transactions pertaining to an insurance policy. How would the insurance company know which policy you are referring to without the policy number? Talk to the insurance agent who helped you with the transfer. He should have a record of the transaction and the policy number as well.
Not likely. I would check your auto insurance policy form and I think you will find that there will be a clause there that covers that. if you do claim on both it could be deemed as fraud.
The cash value is the amount of money your insurance policy is worth to the owner of the policy if the insurance is cancelled and the policy terminated. The insurance company will mail a check to the to the policy owner upon policy termination or cancellation by request of the owner. I would strongly encourage you to consult a professional in your area before cancelling an existing policy. There may be other options and alternatives to access the value of the policy without cancelling the insurance policy.
The provisions of the insurance policy would be the only ruling authority. Check the wording of the policy.
i have a jcpenny life insurance policy #7L1514442. Would like any and all info on this policy
I assume you mean how can I check if the policy is in force, in danger of lapsing, or cancelled for lack of payment. I would simply call your agent and/or the insurance company's customer service.
I assume you mean how can I check if the policy is in force, in danger of lapsing, or cancelled for lack of payment. I would simply call your agent and/or the insurance company's customer service.
I assume you mean how can I check if the policy is in force, in danger of lapsing, or cancelled for lack of payment. I would simply call your agent and/or the insurance company's customer service.
Only if the insurance covers more than one driver. Check the policy.
You would need a seperate policy with most companies I would check with your agent or get a new policy by callin Allstate at 877-834-0398