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What Life Insurance policy gives the highest face value for a given premium?
Wiki User
∙ 12y ago
This is not a question that can be answered in this forum. Life insurance companies will have different rates based on a persons situation. I recommend you go to an independent insurance agent that carries several top life insurance companies They can quote prices for several companies and with their advice you can choose the one that best meets your needs. If there are medical issues or even weight problems you may not qualify for the best rates the company offers. Some companies and agents quote the Ultra Preferred rates to get a client in the door even though most people fit into the standard rate tier. Get someone you think you can trust to give you accurate rates and not try to pull the bait and switch tricks.
Wiki User
∙ 12y ago
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Can you make a claim on a insurance binder?
If you have applied for insurance and paid a premium, you are essentially insured if you have been given a binder. In life insurance if the applicant dies before the policy can be issued, you would file a claim as if it had. The claim would be processed and if the applicant is found to be insurable had he still been alive, the claim would proceed as if he already had a policy in force before he died.
How do you get information from your former company about your life insurance that you paid for out of your check?
Your question is a little unclear. However, I assume that by "your former company" you are referring to your former employer which was deducting full or partial insurance premiums from your paycheck. If that is the case, your best bet would be to approach the Human Resources Department and request an accounting of all insurance in force and how much was deducted from your pay. Additionally, you were likely given a certificate of insurance evidencing the name of the insurer and the amount of coverage. You are free to contact the insurer. In fact, you must contact the company to make other premium payment arrangements if you will no longer be employed and therefore, the employer is no longer making premium payments on your behalf. The insurer will also be able to give you are breakdown of all premium payments made while the policy has been in force.
What does an underwriter do?
In the area of insurance, an underwriter is a professional, usually employed by an insurance company, who makes determinations about whether a risk meets the criteria for insurance under a given form of policy. In other financial arenas, underwriters perform similar functions related to financial investments, such as mortgages.
How long after purchase of life insurance policy can you borrow from face value?
Take a look at your policy paying attention to the illustration in the guaranteed column. This will show you how much money you will have to borrow against in a given year. When there is enough you can borrow against it. But be careful!
How much does a one-million-dollar life insurance policy cost?
It depends on the insurance company and it also depends on rather or not the person whom you are trying to get insured was a smoker, drug user, or had HIV/AIDS. You can not get a policy without the insured knowing it. They must pass a health screening. That is what determines your quote. These online insurance companies can't really tell you anything with their online quotes. But if you are really serious then you would need to contact a insurance salesman or some sort of agent. They say, the typical million-dollar policy is around $250. Not affordable for the average person. And also remember that you have to have a reason for wanting a large policy like that to begin with. That type of policy will not be given to the average person who's gross income is $25K yearly. They would offer a person like that a normal life insurance policy. You must have reason for wanting one.
What does the word premium mean?
Premium is an amount to be paid for an insurance policy or something given as an award.
What exactly is a no claims discount?
A no claims discount is given by auto insurance companies. If a policy owner files no claims for usually 5 years, a discount is given towards the insurance premium.
Is policy premium due monthly?
When application is made for an insurance policy, the applicant is normally given a choice of the frequency of premium payments. Generally, the choices are monthly, quarterly, semi-annually or annually. The choices of frequency often vary with the kind of insurance involved.
What is a free look provision in a health policy?
Generally Free look provision in a health policy is given for 15 days. If you are not satisfied with the provisions of the policy bond, you may ask for cancellation of the policy to the Insurance Co. within the aforesaid time. The Insurance Co. is bound to return you back the premium minus few incidental charges.
When is payment required to have insurance coverage?
Cannot be answered here - that information should appear in the contract language of the policy. Generally, however, the insurance agent will take a deposit premium for the anticipated first month's premium at the time that the application for coverage is taken. The application is essentially an offer to purchase insurance. The insurance company than analyzes the answers given on the application application in accordance with its underwriting guidelines. Those guidelines lay out the types of risks that the insurer is willing to accept and for what price (premium). If a policy is issued (because the insurer is willing to accept the risk as identified in the application), a policy will be issued. The front page of the policy is called the Declarations, and will show a summary of the coverage, as well as the due date and amount of subsequent premium payments. If the insurer decides not to issue a policy for a reason that is not prohibited by law, the deposit premium will be returned.
What is extended term insurance on a lapsed Whole Life Policy?
Calculate the total cost of a fire insurance premium for a building and contents given the following. (UseTable 20.3.)Rating of area Class Building Contents Total premium cost 3 B $90,000 $40,000 $
Can you make a claim on a insurance binder?
If you have applied for insurance and paid a premium, you are essentially insured if you have been given a binder. In life insurance if the applicant dies before the policy can be issued, you would file a claim as if it had. The claim would be processed and if the applicant is found to be insurable had he still been alive, the claim would proceed as if he already had a policy in force before he died.
What is the difference between life insurance premium and non life insurance premium?
Life insurance pays a death benefit when the insured party dies and the money can be given to his or her friends, family or next of kin. Non Life Insurance covers objects for theft or damages including home, property and cars.
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.
What is a Grace period in an insurance policy?
Grace period is a provision given to policyholder to pay premium in next 30 days.When he fails to pay it before the due date, this time period of 30 days is called grace period.
Advantage of ulip?
Advantage of Ulip 1. low charges 2.limited premium (only 3 years we can stop premium paying but life cover ll continue till end of the term. 3. We can switch our fund depends upon the market trends 3.tax benefit 4.Double benefit ie, if a policy holder dyied on first year of the policy, immdly sumassured (lupsum money which mention in the policy)ll be given and that policy ll continue, insurance company ll pay the premium behalf of the policy holder, end of the term again fund value ll be given to policy holder. 5.transperent fund value 6. more than seven funds are there if you have any doubts in ulip pls contact me - 9500452952 coimbatore
How do i go about getting my totaled and financed car covered by an insurance company that let me get a policy with no collision?
The insurance company would not have required you to get insurance coverage, as it is an optional coverage from the insurer's standpoint. The bigger issue is that the company through which you financed the car would have required collision coverage because it was interested in protecting the value of the collateral. Therefore, it may have obtained "forced-placed" collision coverage on the car and charged the premium to you (through your car payment). If that was done, you would normally have rec'd notice of it and been given a chance to get collision coverage and produce proof of it. Furthermore, collision coverage would have to have been in force at the time of the collision; it would not be retroactively applied to cover the loss.
