This is not a good idea. You need your own insurance policy. There are coverages you do not have by being on your parents policy. You want to be a "named insured". This means that you control the policy and not your parents. If you want to loan your car to anyone you can, if you are on your parents policy you cannot do this. Also if you need to rent a car, you are not covered under your parents policy to do this. You would be under your own policy. Contact your insurance agent for a better explanation.
The status of a policy can be had by browsing the Insurance Company's portal,if you have prior registration, or you can visit the Insurance Company's office for status of your policy.
With a Private Placement Insurance Program, the life insurance is sold apart from the typical formal security registration, and therefore can be tailored to an individual policy holder.
Usually - as much as it was agreed upon at the time when the insurance was bought. When we buy an insurance policy, a maturity value is usually mentioned in the policy document. So, in all probabilities your insurance policy is worth as much as mentioned in the document. Also, since it has been 17 years since the policy was taken, it is possible that the policy has expired or lapsed. In that case, the policy is worthless today.
Yes, parents and children have an insurable interest, so you can have a life insurance policy on your son and daughter-in-law. If they both happen to die prematurely and minor children will become your responsibility, then life insurance is not only justified, but needed.
Yes, your agent or the insurance company can provide with a copy of your insurance policy.
No
no
The status of a policy can be had by browsing the Insurance Company's portal,if you have prior registration, or you can visit the Insurance Company's office for status of your policy.
You may take out an insurance policy on your parents if you have power of attorney over them.
If a student is on their parents insurance they should stay on it as long as possible. However, the student's parents should check with their policy as to what benefits are available if the student does not stay in the local area. When a parent's insurance policy is not an option one can check with the school they plan to attend. Most schools offer student insurance. Another option would be for the student to purchase their own health insurance policy.
Contact your insurance company and supply them with your current address. That address should match your car registration as well as your driver's license.
Look for your car insurance policy. Also, that information should be included on your car's registration form.
yes, simple as that.
What are the benefits of universal life insurance, and what are the possible drawbacks of this type of policy
No it must be covered by an insurance policy valid in the state of registration.
Insurance Coverage on a Parents policy? Yes, So long as you are also listed by name as a covered driver on your parents Policy and your parents have an insurable interest in your vehicle. If you are a minor or a dependent still living at home then you might be able to get insurance cheaper through your parents than you could seperately. You "by name" would need to be added along with your vehicle to your parents policy to be an insured driver.
parents if the insurance is under their names