 What is "your Liability" mean on health insurance? |
| I got an exlanation of benifits in the mail and it says its not a bill, so in the list of charges at the bottom it says YOUR LIABILITY 954.39 So if this is what I owe, then why is it not a bill? will ... |
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 If you're a floridian, and have health insurance, what's the best insurance...in your opinion? |
| Right now our family includes 2 parents (male, female) and daughter. I was wondering, in your opinion, what's the best health insurance to get?... |
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 How much should I expect? |
| I was recently involved in two not-at-fault accidents. The first one totaled by car, roughly 15k in damages. The insurance company paid off my lien and paid for four months worth of physical ... |
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 Can I insure my business against capital loss? |
| I want to know how I can lower the risk of losing my Capital investment.... |
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 Does renters insurance cover pet damage? eg. cat pee? |
| My cleaning people accidentally locked my cats in my bedroom and they subsequently peed on my bed, ruining the mattress and pillows. Will my renters insurance cover this kind of pet related damage? I ... |
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 Can a Co signer take a car from the primary buyer |
Well to make a long story short my sister co signed for my car for me. I am the primary person on the car. This past weekend she took the car from me. She lives in Az and i live in Ca. She took ... |
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| Someone stole something from safety deposit box? |
| my mom told my sister and I that something has been taken. Can a bank teller steal from the safety deposit box? some jewelry and a rare 1930 quarter has been taken. What can we do?... |
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 Will my COBRA cover me for the next 18 months even if I'm moving abroad? |
| I am quitting my current corporate job here in the states and moving to Israel for 13 months to study. I want to keep the cheap health insurance that I have now through my company. Will COBRA allow ... |
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 What's the best strategy to combine 2 health insurance policies? |
| I currently have a 80/20 PPO with an annual $250 deductible. $10 dr visits, $5 to 12 for drugs etc through my job. . . my fiance has an HMO plan w/ his job. After we're married, I thought it ... |
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 Is there a difference? |
i am going to start a housekeeping biz is there a difference between being bonded or being
insured? what is the best option ? please ... |
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 Is it nessary to have a lawyer to deal w/the state of texas concerning work enjury? |
| It appears the insurance company handling my accident was picked by the company I work for, and my case has been rocketed through the system and is not getting me medical attention, just phy therpy, ... |
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 Which is the best college saving plan for kids? |
| can anyone suggest me the best afordable plan that offers college savings for kids [ages 6 and 11] as well as good life insurance plan for their parents[ages 38 and 31] also combines mortgage ... |
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 What could be done to help us understand the insurance industry? |
| How could our government help us understand how to compare insurance coverages so that we could intelligently pick the options we needed at a reasonable price?... |
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 Health Insurance and billing? |
i have a question for my friend.
my friend is a full employ staff and her insurance plan under the work place is health net. my friend recently has a yearly physical checkup and usually, ... |
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 Can my mother be an insurance agent? |
| She's 55 and speaks English okay (not great). Is it difficult for her to become an insurance agent?... |
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Plod | How are life insurance policies paid out? To the policy holder or the trustee? |
My parents have a life insurance policy in my father's name. They are both trustees. They are now divorced. Who receives the benefits of the policy as it has now matured? Any help would be appreciated. |
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nanaangela
|
It must be an endowment. Life policies are only paid on the death of the policyholder/named person and are paid to the beneficiaries named either on the policy or in a will. If both parents are beneficiaries (trustees) then it will be paid to them both. They need to arrange with the insurance company who it needs to be paid to. Divorce lawyers will usually arrange for the paperwork to be signed after an agreement has been made as to who benefits. They could split it or one could assign it to the other. |
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Wylie Coyote
 |
The policy holder is usually dead when a life insurance policy is paid out. Get a job. |
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LifeInsuranceAgent
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Policies are paid out to the beneficiaries. If the beneficiary is a trust, the money would be paid to the trust.
The trustee managing the trust would then distribute the money according to the terms of the trust.
So in your case, it sounds like if your father died, the money would go to the trust, and your mother would be the trustee, distributing the money according to the terms.
If the policy has really matured while they are alive (seems odd, unless your parents turned 100 with an endowment policy), the money goes to the owner. |
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mbrcatz
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They're paid out however it says, in the BENEFICIARY clause. The policy holder is DEAD, ya know. So however they set it up to pay out, it pays out.
GENERALLY it won't pay a minor.
Policies aren't like bonds - they don't "mature". When the covered person dies, they pay the named beneficiary. The named owner of the policy gets to pick the beneficiary.
TRUSTEES are over trusts. Not insurance policies.
You'll have to ask the policy owner who gets the money when the insured person dies. And they can say "it's none of your business" which would be perfectly true. |
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JJ
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If this is a term policy, it does not pay until the death of the named person. If the premium payments stop the insurance just goes away and there is no benefit paid out.
If it is something else with a cash value (whole life, annuity, etc), it can be cashed out and the remaining value will be paid to the owner(s). It sounds like they are both "owners" as trustees and they will need to share the money. As the previous poster pointed out, this is typically taken care of during a divorce settlement. If this item was missed (it usually isn't if the divorce attorneys are experienced) then they will need to take care of. Either another court date or just split the money themselves. |
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