 Insurance Question. Here it is. What law authorizes an insurance company to get a copy of your criminal record |
| Please do not respond with personal theories, personal experiences or personal philosophies. Limit your answer to the MASSACHUSETTS LAW ONLY. In other words, begin your answer to my question with, &... |
|
 Life insurance for my elderly parents? |
| I would like to get some insurance for my 2 parents. They are both seniors (1, 64 and the other 63) My mom is diabetic, and my fathers health history is unknown. Niehter of them have had health ... |
|
 Do landlords usually have homeowner insurance? |
| Do landlord usually have homeowner insurance? Also is it true that most homeowner insurance have liability coverage? And if they took out a mortgage does the mortgage company require them to have ... |
|
 Ticket for no proof of insurance but i do have it? |
| I bought a new car and got new insurance for it .orlando florida, i got pulled over for going 20 over the speed limit i didn't get a speeding ticket put i got a citation for no proof of ... |
|
 I need Health Insurance, 23 and on my own!? |
Can anyone recomnd a company or policy that would be a good way to go????
I am a 23 year old/female, and am completly on my own, workin 2 jobs to cover the bills (including some medical/... |
|
 Does homeowners insurance cover loss from remodeling theft by contractor? |
| We hired a liscensed and bonded contractor to make an additon to our home. He did demolition to the rear of our home so he could begin the addition, asked for $33,000.00 for materials and labor and ... |
|
 Insurance policy for my deceased husband? |
| my husband always said he had a insurance policy but never knew exactly the name cause his grandmother had it from when he was little. Now he has passed on since 2006 and I do not have a clue where I ... |
|
 I carry an HMO insurance for our family. My husband is offered a PPO thru Beechstreet...? |
| I've not heard anything good or bad (except the few answers here) about Beechstreet but can't find any of our doctors on their lists. He is being told that having their insurance would ... |
|
 Life insurance questions? |
| My brother owes my son some money. Can I take out a life insurance policy on my brother and name the beneficiary as my son? Does my broth have to know about it?... |
|
 Can kids under 18 apply for any type of medical care? |
| i really would like to, my parents cant afford that :(... |
|
 What is Retroactive Date for a General Liability Policy? |
| Could some one give me a couple of examples of what retroactive date mean???... |
|
 National Insurance Number? |
When is your NI number supose to come?
some people say 15 and 9 months .. but my firend is 16 on the 12th of this months and she got hers like 2 weeks ago.
If you get it when youu 15 ... |
|
 Will an insurance company reject you if you casually smoke pot? |
I'm looking to get health insurance but i'm kinda worried
I know they do urine test during physical exams, so i was just wondering if the insurance company would reject me when ... |
|
 I bought an Item on Ebay. see details? |
| The seller insured the product through UPS and when it came to me it was beyond repair. Ups then wrote a insurance check to the seller. Shouln't I get this money. Or does the seller get this ... |
|
 Who can someone contact to make a complaint on an insurance company? |
| I was involved in an automobile accident almost two years ago and we have been trying to settle the claim. We mailed in the paperwork accepting there offer and it has been almost two months and we ... |
|
 Is my check still valid i found it, in my bag and its from 2006? |
| this check was from a company i us-to work for in 2006 and i just found it and was wondering, if its my money and i never cashed it,can i cash it still in the bank? or will the date be a problem ... |
|
 What are some cheap Auto Insurance Companies? |
| I pay 193 a month for basic liability with 21st century Insurance. Where can i get a cheap quote?... |
|
|  |
tugjr | If you have a 100,000 life insurance plan..do you have to pay 100,000 dollars to your act to recieve benefits? |
if you have a 100,000 life insurance plan..do you have to pay 100,000 dollars to your account to recieve benefits? |
 |
 
Princess A
|
No, you pay what is called a premium ie. a monthly fee. You get your $100,000 benefit as long as you pay your premium, no matter when you expire. The insurance company gathers all the premiums it receives and invests the money. The return should be enough for them to pay out the benefits in the long run Now, some people die young and some people die old. Therefore, there are policies which the insurance company has to pay at a loss and some at a gain. However, it will average out OK. These 2 factors combined, the insurance company will come out ahead. Otherwise, they will not be in this business. |
|
Hadley
|
If you have a $100,000 life insurance policy, the insurance company pays the $100,000 face amount of the policy to your beneficiary if you die during the period the policy is in effect.
With a term life insurance policy, you must die within the term of the policy.
With a whole life policy, the coverage is in place your entire life (as long as you pay the premium).
You do not have to pay $100,000 for the plan to pay benefits to your beneficiary.
You pay the premium to the insurance company. The premium is usually a small percentage of the life insurance coverage amount.
For instance, if you have a $100,000 10 year level term life insurance policy your annual premium may only be $500.
The premium depends on your age, gender, type of coverage, amount of coverage, your health, occupation, hobbies and your family's health history.
I hope that helps! Best of luck to you.
To learn how term life insurance works visit http://www.term-life-online.com/how-term-life-insurance-works.html |
|
country boy
 |
NO. |
|
Sunny
 |
First, I am assuming that you are talking about whole life and not term insurance. Different policies can have different clauses. I am also guessing that you are the owner of the policy in question. Policies with which I am familiar work as follows:
You pay monthly premiums until the policy matures. You can choose to pay an additional sum which will pay the premiums should you become disabled.
Should you die, the policy will pay the face value of the policy, in your case $100,000. If you borrow money against the policy, the amount received by your beneficiaries will be reduced by that amount. i.e. you borrow $20,000 against your $100,000 policy and have paid back $5,000. Your beneficiaries will get $85,000.
Most policies have a suicide clause which will reduce the amount your beneficiaries will receive in the event of your suicide.
If you are talking term insurance, that's a little different. You pay the premiums for the agreed amount of time -- often 20 years. At the end of the time period, the policy owner receives payment for the face amount of the policy. Most people have term insurance for minor children. Usually, the owner of the policy receives the amount paid into the policy, generally the face value, and sometimes a small amount of interest. If death occurs to the insured, the face amount of the policy is paid to the beneficiaries. |
|
mbrcatz
 |
It's not a plan, it's a contract. And normally, the FACE VALUE of the policy is the payout amount when you die - probably the $100,000 you're talking about.
You would pay anywhere from $100 to $3,000 a year for that much coverage, depending on your age and health, and the type of policy it is.
It's NOT a savings account. It's a bet with the insurance company - you're betting you're going to die, they're betting you're going to live. The premium you pay in vs. the payout amount - the face value - tells you what the "odds" are on your bet. |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
6 | 4 minutes(s) ago
| | | |
6 | 23 minutes(s) ago
| | | |
6 | 32 minutes(s) ago
| | | |
6 | 43 minutes(s) ago
| | | |
6 | 50 minutes(s) ago
| | | |
6 | 3 hour(s) ago
| | | |
7 | 8 hour(s) ago
| | | |
6 | 9 hour(s) ago
| | | |
6 | 1 day(s) ago
| | | |
6 | 3 day(s) ago
| |
|
Homepage 
Financial
Forum 
Insurance 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
