 Mortgage protection insurance? |
| hello, i just took out a mortgage but didn't get insurance with the lender (C&G). I understand this is compulsary, so what options do i have now? i know i can just get a standard life ... |
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 My wife is leaving her teaching job and becoming an independent consultant.? |
| She will rely on my health care for now. If I too was to pursue independent contract work, what options do we have to ensure we still have quality health care since we would no longer be covered ... |
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 I have a standard Homeowners Insurance on my house. My crystal bowl was broken when in use. Am I cover? |
Does a standard homeowners policy in the U.S. only cover loss suffered from perils only?
Additional Details
Wow, a lot of great answers! Well, from the majority of it it would appear ... |
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 Life insurance questions? |
| I was signed up for a life insurance policy with my previous job, but I no longer work there. My husband has no life insurance at all. We just had a baby, and I'm really wanting to get life ... |
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 Whole Life Insurance? |
| I am from overseas and as i was growing up my parents signed me up for an insurance where 10 or 20 years later we had the option of getting the money. Is there a such insurance in the United States. I... |
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 What Life Insurance Company will let you buy a policy for your parents and pay for it yourself? |
| What company will just require a paper filled out by the parent giving the child permission to get life insurance?... |
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 How can i get a copy of someone else's life insurance policy if they are not deceased? |
| i am trying to avoid taking my ex to court to have him produce a copy of his court ordered life insurance policy. is there a way to obtain a copy of the policy if I know the agency name?... |
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 House Insurance -- Big problem - need advice!? |
| My wife and I own a house and are trying to obtain a new Homeowners insurance policy. You see, we've lived here for 2 yrs and were robbed 2x in the first 13 months...We since installed a GOOD ... |
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 Health insurance for poor people in the USA? |
| Is there any health insurance available for people who cannot afford to spend at least $300/month?... |
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| If I include my daughter on my auto insurance if she getst into an accident with her car ? |
| If I include my daughter on my auto insurance if she getst into an accident with her car and the car is included on my policy too, would my insurance price go up for me or only for her car?... |
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robert j | Is it possible for someone to have a life insurance policy on me without my knowledge? An employer maybe? |
I've heard that some employers take out life insurance policies on their workers without their knowledge to assure the company that business will go on as usual should the unforseen happen. Is that true? And if so, is there a way to find out if you are one of the chosen? |
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mbrcatz
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No, not possible.
Employers take out "key man" life insurance policies - but only for executives, and it's written into the employment contracts that they sign. If you don't RUN the company, they don't have a life insurance policy on you. HOnest. You'd have to sign off permission at the time of employment. |
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Donna C
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No one should be able to take a life insurance policy on you without your signature. They also have to have a reason to insure you. If you are a key employee, or an officer in the company. Those are good reasons. But again they have to have your permission and you have to sign something. |
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Zarnev
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It is called key man insurance. Contrary to above posts, there is no law that says an employer must take out a policy and not anyone can take out a policy on you. For someone to take out a policy they must have an insurable interest in you and you must sign the paperwork. For most policies you will also need to have a medical exam which usually consists of medical questions, a blood test and urine test. If you did not sign paperwork or have an exam you probably don't have a policy on you.
Some companies did do this in the past. Wal-mart is one major well-known example. They took out a policy on EVERYBODY who worked there. The government and insurance commissioners put a stop to it. |
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samy
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No. I found interesting information about your answer here. Goodhttp://all-insurance-online.blogspot.com/2007/08/life-insurance.html Good luck! |
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Alan S.
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From A Texas insurance Agent
The Correct Answer is "No", It is not legally possible for someone to have a Life Insurance policy on you in the United States without your signed consent. Spouses, Employers, no matter who wishes to purchase a Life Insurance Policy on you for whatever reason must obtain your consent.
Most, but not all, Life Insurance policies will require a Physical, and although it is true that the requirements of Insurable Interest must be met for the Insuring party purchasing any Insurance Policy, when it comes to Life Insurance the law requires your consent for obvious reasons. If consent were not required, one could imagine flocks of people rushing to purchase Life Insurance on their elderly neighbors or sickly friends.
Of course there have been cases of forgery discovered in the past resulting in illegally obtained Life Insurance Policies. |
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methiclan
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yes although they dont tell u its part of your benefits its required by law |
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aaron p
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Because of what has happened in the past, almost all insurance companies require an EOLI (employer owned life insurance) disclosure that you need to sign to give your approval for this to happen. The only product out there that I know of that still allows you to do this is Lloyds of London's "confidential life insurance". You have to do a very good job to show that the owner would be out some serious money in the event that the insured would die. You also could not do it on your entire workforce as has been done in the past.
Don't tell me I'm wrong. Google it - or should I say yahoo it. |
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bill_swaney2000
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its called key man insurance and if you ask the boss in Wisconsin they have to tell how much and why mostly used to pay a trainee if you get hurt |
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lambspew
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For someone to take a life insurance policy out they must have "insurable interest" in the life that is being insured at the time of the application for insurance.
An employer can take out a life insurance policy on an employee during the currency of their job (while they are working). The reason for this is that the Employer will suffer a loss of income should the employee die unexpectedly (this is the "interest" of the insurance).
The Employer cannot, however, take out a life insurance policy on an employee without the employee knowing about it. The reason for this is that all life insurance policies will require a medical immediately prior to acceptance (the medical will test for nicotine, cholesterol levels, and overall health - this will determine the plan's premium). At law an indivdiual must be made aware of any life insurance policies that concern them (so even if you participated in a medical but did not know that it was for a life insurance policy you have the right of notification). Life insurance plans are also, typically, expensive; and as for most types of insurance you would probably be required to contribute towards the premium payments if your employer had taken this type of policy out on you.
It is important to remember that "Employees Liability" and an "Employees Life insurance" policy are two completely different things. Employee liability plans will only protect a company against any accidents, injuries, or illnesses that occur during the Normal course of the employees job. Life insurance will provide compensation (either in the form of a lump sum cash benefit or alternative compensation) in the event of an Employees death only (although a Personal Accident or Critical Illness plan can aslo accompany a life polciy).
I hope this helps! |
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Michelle My Bell
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Anyone can take out a life insurance policy on you. A lot of companies take out policies on their workers, it's usually written down somewhere whether your company does it or not. |
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SG Elite
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All employers are obliged by law to insure their employees against job incidents. This is often spelt out in the employment contracts or verbally. |
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