 Can my insurance company sue me for money that they overpayed me? |
| they sent me a check for 10 times the amount that it should have been but we had no clue, then a couple of months later they called and said that they had made an error and they wanted their money ... |
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i mean, only insuring the contents like PC, PSP, TV, Video, some gold and etc.. and if yes which insurer would u recommend
... |
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 Who buys Insurance like State Farm? ? |
If by any chance, anyone know what type of people buy insurance like age or lifestyle (single, or married etc.)? Is it normal for a teenage guy to look insurance up?
-Insurance as in Auto, Life,... |
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 Why are car salespeople called DEALERS? |
And car insurance salespeople called AGENTS?
Additional Details
Dealers are selling someone else's product. Like GM, so actually they are agents for a much bigger company.... |
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 Can my husband take out a life insurance policy on his 17yr old brother w/o his mom knowing?Brother is in coma |
| My husbands little brother, who turned seventeen in December has been in a coma since July 2, 2007- he was hit by a car while riding his bicycle. My husbands mother is possibly going to loose her ... |
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 Health insurance required for work? |
Do any of you guys know if you need to be covered by health insurance to get a job? Is health insurance required to work? Thanks!
--the job is at forever 21. i worked there last year and ... |
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 Will Workers' Comp pay for my Viagra??? |
I hurt my back moving a case of Taco Shells.
Now I am at home collecting WC untill I get better.... |
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strawberry | Does life insurance pay all of the money it says it will.............? |
For example will if my husband has a 20yr. term life insurance policy (worth 300,000) and he dies before the 20yrs. will the company pay me the beneficiary all of that 300 thousand at one time? or do they pay it out monthly/yearly? |
 |
 
Doing the Right Thing
 |
There is settlement option on how you wish to receive the death claim. The default option is lump sum, unless you (the beneficiary) choose a different settlement option such as receiving it for a fixed period of time or monthly payments for a guaranteed minimum period and thereafter, for life or you can have the insurance hold on to it so that interest (around 2%/year) can be accumulated and you can take it out anytime like a savings account. Check your husband's life policy to see the available settlement options.
If you die while receiving the settlement and there's a remaining balance on there, the balance will be paid to your estate. |
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mbrcatz
|
Nope, it's a lump sum, unless your husband instructs the compnay to pay it into a trust, and the trust to pay you monthly.
Life insurance procedes are NOT taxable income. |
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Mr None Applicable
 |
one lump sum |
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jmrob29
 |
A 20 year term policy is only valid during those 20 years...basically it expires at the 20 year mark.
It depends on the settlement provision of the policy. If you husband said one lump sum then yes it pays it out at once. Upon his death you are able to immediately go to your agent and get approx. $10,000 to help with funeral expenses and then you get the other $290,000 after you have a death certificate.
You might want to double check because it could have said something in regard to interest only or something like that which means the original $300K goes into an account and you'd get monthly payments till your death.
Good luck. |
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brad h
 |
I specialize in this insurance for Idaho/Washington. Choose an A Rated company, and yes they should pay. |
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Michael D
|
You're assuming that they will actually send you a check, whether lump or monthly/yearly. My grandmother died, leaving my mother the beneficiary. The insurance company did not send any checks. They set up an account similar to a checking account that my mother could draw from. This whole setup took a couple of weeks, too, which wasn't good as my mom has funeral expenses to deal with. |
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smallguybighair
 |
Yes, it does pay ALL the money, given that your husband dies and the company is still around. It is very important to be sure that the insurance company that you picked has good ratings. Default is one lump sum. There are no taxes withheld. Since it is your husband's policy, you will not have to pay estate taxes if he leaves it all to you. And it is not considered income, so you don't have to pay income taxes on it. It's not like a lottery. You are not winning money. If you have a mortgage and kids, $300,000 isn't nearly enough for your husband. He should get at least 15-20 times his annual income. That is the crudest way to calculate that. |
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DFW Broker
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You get the 300k paid out in any option you elect and is made available within the policy. Usually towards the back of the policy it will talk about settlement options and have a per thousand table to figure out what the payments would be.
Also Life Insurance in normal situations is tax free but there are several ownership issues I can think of that would make it taxable as well as a Universal or whole life policy being classified as a MEC (modified endowment contract) but that is not an issue for 20term |
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HG2003
 |
It depends if you want a lump sum payment, or if you want monthly installments. You will of course have tax taken out of it, but for the most part you will get what you paid for. |
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