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What would be the value on a life insurance policy from globe life if the person paid on the policy for 3 months before his death?
Wiki User
∙ 15y ago
It would be whatever the death benefit is on the policy unless the death was due to pre-existing conditions or if the insured lied on the application in which case a return of premiums is all that the beneficiary would receive.
Wiki User
∙ 15y ago
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What happens if the sole beneficiary on an insurance policy dies before that person and the policy is never changed?
It goes to the estate
What is the person that buys the insurance policy called?
The person that buys the insurance policy is referred to as the policy owner. This person is the only one that can make changes to the policy or cancel it. However, there may be more than one policy owner for the same insurance policy.
Can you collect on a life policy if the person has a stroke before the policy is two years old?
Read the wording on the policy. A normal life insurance policy would pay as long as all the answers on the application were given truthfully and there was no undisclosed pre-existing conditions. If the person had purchased one of the guaranteed issue or TV policies then no. These policies guarantee issue but require you to be insured for a period of time (usually 24 months) before coverage begins. The reason for this is that by 24 months you will have paid a premium that almost equals the policy benefit.
A fire insurance policy has an annual premium of 780 What is the regular refund if the policy is canceled by the insurance company after five months?
An insurance premium is the amount that the buyer pays the company monthly or annually which keeps the policy in effect. If a person paid a 780 dollar annual premium which was canceled after 5 months, they would be owed a 455 dollar refund.
How can one sell their life insurance policy?
One can sell their life insurance policy and this is called Viatical Settlement. An insurance company sells insurance policy to a person. This person (viator) sells his policy to another person (viatical settlement provider). When the first person dies, the second person will benefit and cash in the money.
Who is the person that is the holder an insurance policy?
policy holder
What is surrender value in accounting in joint life policy?
it is an amount paid by insurance company to person who has voluntarily terminate his policy before maturity
Should the insurance company contact the insured person when a life insurance policy matures?
When the policy matures, an attempt must be made to contact the policyowner at the last address the insurance company has. But if they have moved and not notified the insurance company, after a few months, the maturity value of the policy will be sent by the company to the State that they operate in as unclaimed property. If the policy simply ends - such as with a term life policy - the policy will state the date when coverage ends.
Insurance company decides not to renew policy they must inform within how many days before the policy period ends?
If the insurance premia remains unpaid for over six months from the due date, the policy automatically lapses. You are to contact the Insurance Company for revival quotation, submit DGH Form so that the policy is renewed.
How does the insurance company calculate the amount of premium to refund when a policy is cancelled?
Insurance premiums are calculated for the year. If you cancel your policy refunds are usually issued retroactively. So if you cancel your insurance 6 months into your policy, you wil be refunded for the remaining 6 months. It is usually calculated to a daily value, so you will get a refund for the remaining days left in the year. However, it is up to the insurance compant on what their refund policy is. Some companies will have a cancelation policy of 1 months cost of insurance if you cancel your policy. Most companies however have no fee.
Can an insured person also be the beneficiary on an insurance policy?
Yes, there is no bar in the insured person being beneficiary on another insurance policy.
Does homeowners cover a murder of a person on the policy?
Homeowners insurance does not generally cover the murder of a person listed on the policy. For that, you need life insurance.
